Old Car Insurance

9000+ Cashless
Network Garages
96% Claim
Settlement (FY23-24)
24*7 Claims
Support
Click here for new car
I agree to the Terms & Conditions
9000+ Cashless
Network Garages
96% Claim
Settlement (FY23-24)
24*7 Claims
Support
Click here for new car
I agree to the Terms & Conditions
Storyteller at heart, Manasvi brings 4 years of content and marketing experience to Digit. Whether it's writing SEO-optimised articles or a researched and insightful blog, she strives to transform ideas into creating impactful and engaging content.
Mayur specializes in motor insurance and is responsible for overseeing the development and management of motor insurance products. With expertise in product strategy and market analysis, he focuses on developing customer-centric insurance solutions.
Do you take care of your car more than anything else? If you still maintain and have any car that dates back to 2009 or before then for sure your car is old. The technology used and the components deployed may either be old or obsolete. The risk factor is higher with old cars as these may lack performance. But at anytime the emotional attachment with the old car is irreplaceable.
Old or new, using any car on the road is dangerous and can involve accidents. Hence, buying insurance of old car is essential to save expenses at the time of unfortunate events.
Buying car insurance policy for cars whose value has depreciated over the years is called Old Car Insurance.
Let’s take an example of an old car whose timing belt suddenly failed when it was on the highway. Suddenly, a noise comes from the engine and gosh! The owner observes that the car is losing speed and bang it goes. Another car from behind hits and both vehicles meet with an accident.
Thus, for an old car, when the chances of failure are higher, car insurance becomes mandatory. It will help the owner to get compensation for its repairs and damage when the cost of maintenance is heavy, and the damage is huge.
The insurance policy operates at the time of physical damage, collision, bodily injury to the owner, third party or third-party property damage.
8 Lacs+
Claims Settled
3000 Crore+
Paid-in Claims
75 Lacs+
Cars Insured
1.2 Crore+
Policies Sold
96%
Claim Settlement Ratio
9000+
Cashless Garages
Disclaimer: The total number of claims settled, amount paid in claims and the total policies sold count is for private car policies since inception till 31st December-2024. 96% claims settled for Overall Motor line of business of Digit. CSR Is calculated for FY 24-25. CSR Ratio is count of (Claims paid + Claims Closed) / (Claims O/S at Start + Claims Reported - Claims O/S at End). 9000+ cashless garage network count as of 31st March-2025.
In India, we know that there are two types of cover available under the Motor Insurance. One offers complete coverage in the name of, Comprehensive Car Insurance and the other one is best for the Third-Party Liability coverage. In the above two situations, the importance of insuring an old car is clear.
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Here are some reasons why you should get second hand car insurance plan:
Financial Protection: Older cars are more prone to breakdowns and damage since their car parts have already faced much wear and tear over the years. Therefore, having insurance for old cars can help cover the costs of repairs or replacements, reducing the financial burden on you.
Protection Against Risks: Having a Comprehensive Car Insurance Policy also protects you against damage to your old car in case of mishaps such as an accident, fire damage or damage and loss due to natural disasters.
Mandatory by Law: Having at least a third-party liability is mandatory by law in India whether you own an old or new car. Driving a vehicle without an active policy could lead to a fine or penalty.
Theft Coverage: Older cars can still be targets for theft. So, protecting your car with any car insurance policy will protect you in case your car is stolen.
Add-Ons: With an old car insurance policy, you also get the benefit of various add-ons available, which can be particularly useful for older cars that might be more likely to break down.
Peace of Mind: Knowing that you are covered with insurance for old car in the event an accident, theft, or other unforeseen situations, provides you with peace of mind.
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When it came to motor insurance specifically, Digit showcased a high-efficiency Claims Settlement Ratio (CSR), with 96% of motor claims settled seamlessly and we make this simple with:
Smartphone-enabled self-inspection process, with which you can file your claim in minutes!
Cashless Claims at over 9000 garages in India, so you can get your two-wheeler fixed without stress.
Everything digital and paperless. No need for hard copies—just upload everything on our app, and you're all set!
4.7/5
(250K + Customer Ratings)
Enter Car Details
On the Digit App or website, enter car registration number and select the policy status.
Choose a Plan
Select the type of car insurance plan and choose desired add-ons.
Enter Personal Details
Enter your personal, nominee and vehicle details, and move to the next step.
Make Payment
Complete the payment and mandatory KYC verification process.
That's It!
You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.
We treat our customers like VIPs, know how…
At Digit, we believe filing a motor insurance claim should be simple, not stressful. That’s why we’ve built intelligent automation into every step of the process—so you can get back on the road, faster.
In H2 FY25, our average car repair approval time was 14 hours and 46 minutes, with 67% of approvals completed within 12 hours. Only a few cases experienced longer wait times, typically due to complex assessments or the need for additional documentation, highlighting our commitment to minimising delays and maximising efficiency.
Rest assured, we carefully monitor every step to ensure your car is back on the road as swiftly as possible!
The below data is for all the products as given in the table below.
The below information is a summary of escalated claim cases reviewed by the Hon’ble Ombudsman in FY 2024–25.
Disclaimer: ^This data pertains to cases reported to various offices of the Hon’ble Insurance Ombudsman. Customers have the option to approach the Consumer forum as well; #Only includes complaints arising from claims. The company had a total of 11 complaints arising from non-claims, i.e., policy-related grievances (5 won, 2 settled, 1 lost, and 3 outstanding). One non-claim complaint where the decision went in favour of the complainant is not included in the numerator while calculating claims accuracy.
Several factors affect old car insurance price, such as:
Age and Condition: The make, model, age, and condition of the car significantly affect the old car insurance price. Older cars or those in poor condition generally have higher premiums due to higher risk of breakdowns and repairs.
Insured Declared Value (IDV): IDV is the current market value of the car that directly affects the old car insurance price. A higher IDV means a higher premium.
Mileage: The more an old car is driven, the greater the wear and tear, leading to higher premiums.
Type of Policy: The type of old car insurance policy and any additional add-ons chosen also impact the old car insurance price.
Here’s how you can take the help of some strategies to reduce the old car insurance price:
Compare Quotes: Compare quotes from various insurance companies online to find the best old car insurance price and plan that suits your needs.
Choose the Right Insurance Policy: The most suitable option for an old car insurance plan is a third-party policy since it is mandatory and offers basic coverage. Also, you can opt for only the required add-ons with a comprehensive insurance policy to keep the premium low.
Maintain a Clean Driving Record: Safe driving habits can earn you a discount on old car insurance price in the form of No Claim Bonus.
Insurance Company: Compare the coverage offered by your insurer against others. Each piece of information is available online thus making it easy for you to compare.
Policy conditions: Check the policy terms and conditions like deductible applicable. Insurance is to save you from financial burden hence check if the purpose is met or not.
Discounts: What is the percentage of discount you will get from the insurer.
Liabilities can be huge and beyond our capacity when it comes to damage to our car, third- party bodily injury or third-party car. Not everyone can afford these expenses and gradually the buying insurance policy became relevant. But before buying car insurance for second hand car, we must know a few things like:
If you wish to sell the old car and buy a new one anytime in the future, the NCB earned will be transferred to the new car.
Read more: Zero Depreciation Car Insurance
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