Lexus NX Compact Luxury SUV Car Insurance
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Driving home your brand new Lexus NX Compact Luxury SUV is an amazing feeling. But owning this sophisticated vehicle involves more than having the keys in your hand. An often overlooked but absolutely vital procedure is purchasing comprehensive car insurance for your Lexus NX. Having valid insurance is mandatory by law if you want to legally drive your luxury SUV on Indian roads. Let's take a deeper look at why buying insurance is crucial for your Lexus NX, the common types of policies available, exactly what's covered and what's not, useful add-ons, and how you can seamlessly buy or renew insurance for your prized possession from ACKO Insurance.
Why Should You Buy Car Insurance For Lexus NX?
Here are four key reasons why buying adequate car insurance is essential:
Legal Requirement
As per Indian motor vehicle laws, driving cars on public roads without a valid insurance policy is illegal. The legal consequences of driving uninsured can be severe. To legally drive your luxury Lexus NX on Indian streets, having an active comprehensive car insurance policy at all times is mandatory.
Financial Security
Unfortunately, accidents can happen anytime. If your precious Lexus NX gets damaged in a crash or mishap, you could see very high repair bills running into lakhs. Comprehensive insurance will pay for repairs, so you don't have to bear these huge expenses out of your own pocket. This provides immense financial security and peace of mind.
Theft Cover
Car theft has become common in India. Luxury vehicles like your Lexus NX are prized targets for thieves. If your SUV gets stolen, insurance will cover the financial loss so you can recover the amount and buy a new car.
Third-Party Liability
India's Motor Vehicles Act makes it compulsory for all car owners to have at least third-party liability insurance. This covers injury or property damage caused by your car to a third party, providing protection from potentially massive legal and financial liabilities.
The Most Common Types of Car Insurance For Lexus NX
The two most popular car insurance policies suitable for luxury vehicles like the Lexus NX are:
Third-Party Car Insurance
This basic policy covers injury or property damage caused by your car to a third party. However, any damages to your own Lexus NX are not covered. This policy only fulfils the legal requirement of third-party cover.
Comprehensive Car Insurance
A comprehensive policy provides much wider coverage. Along with mandatory third-party liability, it also covers damages to your Lexus NX arising from accidents, theft, disasters etc. This protects your assets in all kinds of situations. You can further enhance coverage by opting for useful add-ons.
What is Covered
What is not covered
What Is Covered In Lexus NX Car Insurance?
A comprehensive insurance policy for your luxury Lexus NX will commonly include coverage for:
Bodily injury and property damages caused to any third party by your car.
Any damage to your own Lexus NX arising from accidents, collisions, crashes etc.
Losses arising from human-made disasters like riots, strikes, civil unrest etc.
Damage incurred from natural calamities like floods, earthquakes, storms etc.
Damage or total loss due to fire, explosion, self-ignition etc.
Theft of accessories, car parts or the entire car.
This wide range of coverage provides end-to-end protection for your prized possession.
What Is Not Covered In Lexus NX Car Insurance?
While comprehensive insurance is extensive, there are some limitations and exclusions:
Wear and tear of parts due to regular ageing.
Mechanical or electrical breakdown.
Damage incurred outside specified geographical limits.
Accidents arising while driving under the influence of alcohol.
Losses occurring without a valid driving license.
Being aware of these exclusions is important when making a claim.
Add-Ons For Lexus NX Car Insurance
You can enhance your coverage by opting for useful add-ons like:
Zero Depreciation Cover: This protects you from deductions made towards depreciation when you make a claim. It allows you to get the full insured amount for parts replacement.
NCB Protection Cover: This helps retain your No Claim Bonus even if you make a claim. This is useful for those with high NCB to avoid losing accrued benefits.
Engine Protection Cover: This provides protection against damage to internal parts of the engine due to water ingression, leakage of lubricating oil, etc.
Roadside Assistance Cover: Provides assistance in case of breakdown, flat tyre, etc, through towing facilities, on-spot repairs, fuel delivery, etc.
Invoice Price Cover: Allows you to insure your car for its original invoice value instead of depreciated IDV. Useful for new cars.
Accessories Cover: Covers theft or damage to accessories like music systems, alloy wheels, leather seats, etc.
Consumables Cover: Takes care of expenses incurred on consumables like engine oil, nuts/bolts, oil filters, etc., during repairs.
Benefits Of Buying ACKO Insurance For Your Lexus NX
Choosing ACKO Insurance to buy or renew your Lexus NX policy offers tremendous benefits:
No Commission: You directly deal with ACKO, no middlemen or commissions involved.
Online Process: The entire policy process, from buying to claims, is online, no paperwork needed.
Anytime, Anywhere: Use their website or app to buy, renew, or make claims 24/7 from anywhere.
Fast Claims: Online procedures make claims approval quicker compared to traditional insurers.
Expert Support: Dedicated customer support reps assist you with queries or concerns.
Cashless Garages: Take your Lexus NX to any of ACKO's network garages for cashless servicing.
Free Pickup-Drop: Avail convenient doorstep pickup and drop facility for repairs or claims.
How to Buy/Renew Lexus NX Insurance From ACKO
Follow these simple steps:
Step 1: Visit the ACKO website or download their insurance app.
Step 2: Enter your Lexus NX details, such as your registration number, and click "Check Prices."
Step 3: Choose your preferred policy type, and optional add-ons, fill up required details and pay the premium online to instantly purchase or renew insurance.
4 Easy Steps For Claims
ACKO simplifies the claims process:
Step 1: Login to your ACKO account on the app or website.
Step 2: Tap "Claim Now" and answer a few questions about the damage or loss.
Step 3: Upload photos and required documents.
Step 4: For minor damage, receive instant claim approval. For major losses, ACKO representatives will inspect and keep you updated.
Conclusion
Having adequate insurance is key for enjoying your Lexus NX without worries. Choose ACKO for its seamless app/website-based processes to buy, renew or claim Lexus NX insurance anytime, anywhere! Stay legally compliant and financially protected on the road with ACKO.
Frequently Asked Questions on Lexus NX Compact Luxury SUV Car Insurance
FAQs
How is the premium calculated for Lexus NX insurance?
The premium is calculated based on the insured's declared value, cubic capacity, location, no-claim bonus, add-ons opted, own damage cover, etc. Higher IDV, engine capacity, etc., lead to higher premiums.
Does the Lexus NX need to be inspected before buying insurance?
Yes, a pre-inspection survey will be conducted by the insurer to assess the car's condition. This determines the IDV and final premium.
How can I pay the premium for my Lexus NX insurance policy?
Premium can be paid online via net banking, credit/debit card, UPI, e-wallet, etc. NEFT, cheques, and cash can also be used for offline premium payment.
What documents are required at the time of filing a car insurance claim for my Lexus NX?
Documents like RC copy, policy copy, FIR/panchnama, repair estimates, identity/address proof, etc., must be submitted along with the duly filled claim form.
Is there a deduction for depreciation at the time of your own damage claim settlement?
Yes, based on the age of the car, depreciation is deducted from claims under own damage as per IRDAI guidelines. This can be avoided by opting for the zero depreciation add-on.
How can I transfer my Lexus NX insurance when selling the car?
Submit a request for insurance transfer with the RC copy and policy copy to the insurer. The transferee's details are recorded for continued coverage.
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