Question 1

How is Insuremile different from buying directly from an insurer?

Accepted Answer

Unlike individual insurers who only sell their own products, Insuremile is an official IRDAI-licensed insurance web aggregator (IRDAI License: IRDAI/INTAII/BA/51/2018). We allow vehicle owners and families across India to compare premiums, coverage benefits, and add-on options from over 15 leading Indian insurance companies neutrally in one place. When you buy directly from a single insurer, you only see their pricing and terms. Insuremile provides an unbiased marketplace with side-by-side comparisons of Insured Declared Value (IDV), No Claim Bonus (NCB) transfers, Zero Depreciation riders, and cashless network garage availability. Furthermore, our relationship with you does not end at policy issuance: our dedicated in-house Customer Success desk stays active throughout your policy tenure to assist with endorsement corrections, policy renewals, claim filing, and emergency assistance.

Question 2

Is Insuremile IRDAI-approved and secure?

Accepted Answer

Yes, Insuremile is fully IRDAI-approved and operates under official regulatory license IRDAI/INTAII/BA/51/2018 (Registration No. 007/31, valid till 17/07/2027) issued to InsureMile Insurance Web Aggregator Private Limited (CIN: U72900KA2018PTC110119). All payments and data transfers on our platform are secured with bank-grade 256-bit SSL encryption. Premium payments are routed directly to certified partner insurance companies without markup or hidden intermediary fees. Upon successful payment, your insurance policy document is generated instantly and logged directly into official government databases including the VAHAN portal for motor vehicles. We adhere strictly to IRDAI web aggregator guidelines, ensuring complete data privacy, transparent disclosure of policy terms, and absolute protection against unauthorized third-party data sharing.

Question 3

How do I file a claim in case of an accident?

Accepted Answer

Filing a claim through Insuremile is a streamlined four-step process supported by our dedicated Customer Success desk. First, notify us immediately via our online claims portal, phone line (+91 96065 56069), or WhatsApp support as soon as an incident occurs. Second, upload basic required documents such as your policy number, vehicle registration certificate (RC), driving license, and accident photos or FIR copy if applicable. Third, our team coordinates directly with your insurance company to assign an authorized surveyor and arrange for cashless repairs at any of the 5,000+ network garages or 10,000+ cashless hospitals nationwide. Fourth, we track your claim progress daily until final settlement, ensuring fair evaluation without unnecessary delays or documentation hurdles.

Question 4

Can I renew a lapsed policy online without vehicle inspection?

Accepted Answer

Yes, you can renew a lapsed two-wheeler or car insurance policy online through Insuremile without a physical vehicle inspection in most standard cases. If your motor insurance policy has been expired for less than 90 days, you can complete our quick paperless self-renewal flow by providing your previous policy details and vehicle registration number. Our automated platform instantly verifies your active NCB eligibility, calculates the revised Insured Declared Value (IDV), and generates your new policy instantly upon payment. For policies expired beyond 90 days, a quick digital self-inspection via smartphone photo or video upload may be required by partner insurers, which our team guides you through in minutes to restore full coverage.

Question 5

What is Insured Declared Value (IDV) and how does it affect my motor insurance premium?

Accepted Answer

Insured Declared Value (IDV) is the maximum sum insured sum payable by an insurance company in the event of total loss or theft of your vehicle. IDV is calculated based on the manufacturer's listed selling price minus age-based depreciation percentages mandated by IRDAI (5% for up to 6 months, 15% for 1 year, 20% for 2 years, 30% for 3 years, 40% for 4 years, and 50% for 5 years). Selecting a higher IDV increases your policy's own-damage premium but provides higher financial payout during major claims. Conversely, setting an unrealistically low IDV reduces annual premium slightly but leaves your vehicle under-insured. Insuremile's comparison calculator helps you select an optimal IDV balancing cost and adequate financial protection.

Question 6

How does No Claim Bonus (NCB) transfer work when switching insurance companies?

Accepted Answer

No Claim Bonus (NCB) is a reward discount earned on your own-damage premium for every claim-free policy year, scaling from 20% after year one up to 50% after five consecutive claim-free years. NCB belongs to the policyholder (driver), not the vehicle itself. When upgrading to a new vehicle or switching insurance providers at renewal, your accumulated NCB percentage can be transferred 100% intact. To transfer NCB, obtain an NCB Retention Certificate from your previous insurer or declare your previous policy details during Insuremile's online checkout. Insuremile automatically verifies your NCB status via centralized database lookups, ensuring your discount is applied immediately to your new policy quotation.

Question 7

What is Zero Depreciation cover and why is it recommended for cars and bikes?

Accepted Answer

Standard motor insurance policies deduct depreciation on replaced spare parts during accident repair claims (50% on plastic/rubber/battery parts, 30% on fiberglass, and 10% to 50% on metal parts based on vehicle age). Zero Depreciation (Bumper-to-Bumper) cover is an essential add-on rider that waives all depreciation deductions, ensuring the insurer pays 100% of the part replacement cost during claim settlement. You only pay compulsory deductibles. Zero Dep cover is strongly recommended for new and premium vehicles up to 5 years old to avoid heavy out-of-pocket expenses during accidental repair jobs.

Question 8

How does cashless hospitalization work under health insurance plans?

Accepted Answer

Cashless hospitalization allows policyholders to undergo medical treatment at partner network hospitals without paying hospital bills out-of-pocket (except non-payable items like admission fees or attendant charges). During planned hospital admissions, present your health insurance card at the hospital TPA (Third Party Administrator) desk 48 hours in advance to submit a pre-authorization request. For emergency admissions, inform the TPA desk within 24 hours. The insurer verifies coverage limits and grants cashless approval directly to the hospital. Upon discharge, the insurance company settles the bill directly with the medical center.

Question 9

What is the 30-day free-look period in insurance policies?

Accepted Answer

The free-look period is a mandatory consumer protection window (typically 30 days for electronic/distance policies under IRDAI regulations) starting from the date you receive your policy document. During this period, you have the statutory right to review all policy terms, exclusions, and conditions. If you find any clause unsatisfactory or unaligned with your needs, you can submit a formal cancellation request to the insurer. The insurance company will cancel the policy and refund the premium paid, deducting only proportional risk premium for covered days and stamp duty charges.

Question 10

Can I make changes or correct misprinted details on my active insurance policy?

Accepted Answer

Yes, any misprinted information on an active policy schedule (such as misspelled names, incorrect engine/chassis numbers, wrong vehicle registration number, address updates, or nominee corrections) can be rectified through an official policy endorsement. Non-financial corrections (like name spelling or address updates) carry zero fee and require uploading supporting proof (Aadhaar, RC, or PAN card). Financial endorsements (such as adding CNG kit coverage or changing IDV) may involve a minor premium adjustment. Insuremile's Customer Success team manages the entire endorsement process on your behalf with partner insurers free of charge.

Question 11

What is Pay-As-You-Drive (PAYD) motor insurance and how does it reduce annual premiums?

Accepted Answer

Pay-As-You-Drive (PAYD) is an IRDAI-approved telematics-based motor insurance option designed for vehicle owners who drive less frequently or maintain low annual mileage (e.g., under 5,000 km or 7,500 km annually). Under PAYD policies, your own-damage premium is calculated based on selected distance slabs rather than standard annual rates, offering up to 25% to 40% savings compared to traditional comprehensive coverage. You install a small OBD telematics device or track odometer readings via the insurer's smartphone app. If you exceed your selected kilometer slab, you can top up additional distance seamlessly online through Insuremile without losing coverage benefits.

Question 12

Is Personal Accident cover mandatory for two-wheelers and pillion passengers under Indian law?

Accepted Answer

Under Section 146 of the Motor Vehicles Act 1988, a Compulsory Personal Accident (CPA) cover of ₹15 Lakh for the owner-driver is mandatory when purchasing or renewing any motor insurance policy in India. CPA provides financial compensation in the event of accidental death or permanent total disability resulting from a vehicle accident. If you already hold an active ₹15 Lakh CPA cover under another vehicle policy or standalone personal accident insurance, you can claim an exemption when buying your bike policy. Additionally, optional Personal Accident cover for unnamed pillion passengers (up to ₹5 Lakh) is strongly recommended to protect family members or passengers riding with you.

Question 13

What is Return to Invoice (RTI) add-on and how does it protect new vehicle owners?

Accepted Answer

Return to Invoice (RTI) is an essential motor insurance add-on rider designed for new cars and two-wheelers up to 3 to 5 years old. In the unfortunate event of a total loss (vehicle damaged beyond 75% repair cost) or total theft, standard comprehensive policies only pay the depreciated Insured Declared Value (IDV). RTI bridges this financial gap by reimbursing the full original invoice price of the vehicle, including road tax, registration charges, and mandatory dealer fees. RTI ensures you receive 100% of the funds needed to purchase a brand-new replacement vehicle without incurring financial loss.

Question 14

Are AYUSH (Ayurveda, Unani, Siddha, Homeopathy) treatments covered under health insurance policies?

Accepted Answer

Yes, per recent IRDAI health insurance reform guidelines, all certified health insurance policies in India must provide coverage for AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy) treatments on par with conventional allopathic medical care. In-patient hospitalization expenses for AYUSH treatments are covered up to the full sum insured, provided the treatment is undertaken at a government-recognized AYUSH hospital or an accredited medical institution recognized by Quality Council of India (QCI) / NABH. Insuremile helps you compare health plans offering seamless cashless AYUSH hospitalization.

Question 15

What is the difference between cashless claims and reimbursement claims?

Accepted Answer

In a cashless claim, the insurance company settles hospital bills or vehicle repair costs directly with the accredited network hospital or garage. You do not pay from your pocket except for mandatory deductibles or non-payable items. In a reimbursement claim, you pay repair or medical bills upfront at a non-network facility and subsequently submit original bills, discharge summaries, cash receipts, and claim forms to the insurer for reimbursement. Reimbursement claims take 10 to 14 business days for document audit and bank account credit, whereas cashless claims offer instant pre-authorized settlement.

Question 16

How does Insuremile protect policyholders against fake calls and fraudulent renewal links?

Accepted Answer

Insurance fraud and spurious phone calls promising fake bonuses, unauthorized discounts, or urgent GPay renewal links are common threats in India. Insuremile actively protects customers by operating an official secure payment portal where all transactions route directly to IRDAI-licensed insurance carriers. Our Customer Success desk verifies every renewal notice and alerts you to official insurer payment links. IRDAI and Insuremile never ask policyholders to transfer funds to personal GPay/UPI accounts or reveal confidential banking passwords over the phone.

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