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Daewoo

Daewoo Insurance

Daewoo was a South Korean motor insurance company established in the year 1937. The company was known for producing great value for money cars. The brand entered the Indian market in the year 1995. In case you still own a Daewoo Car then it is important that you insure the car with a third party or comprehensive car insurance.

Having car insurance for Daewoo vehicles protects you against natural and man made calamities, theft, third party damages, etc. You can choose to insure your Daewoo Car online with Coverfox and get a 70% renewal discount.

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Amount Covered: ₹ 1 Lakh

Deal Price: ₹ 2,094 / Year

Waiting period: 4 yrs

Disclaimer - Above mentioned prices are for a Maruti Wagon R, 1.2 VXI (1197 CC) registered in Mumbai on 2013 & previous policy has not expired.

Types of Daewoo Insurance

third party car insurance

Third Party

This type of car insurance provides coverage to third party life and property and does not cover the insured vehicle

comprehensive car insurance

Comprehensive

This type of car insurance provides coverage to your vehicle as well as third party and property

standalone own damage car insurance

Standalone / Own Damage

This type of insurance provides coverage for your car’s damages and losses including events caused due to man made, natural calamities, and theft.

Boost the Protection of your Daewoo with these Add-ons

No Claim Bonus

No claim bonus is retained despite making multiple claims in one policy year.

Zero Depreciation

Depreciation on parts made up of glass, plastic, rubber, nylon, etc. is is not taken into consideration at the time of claim.

Roadside Assistance

Also known as breakdown cover, roadside assistance cover provides you with assistance like towing service, minor repair, spare key arrangements, etc.

Personal Accident Cover

This type of cover provides compensation up to Rs. 15 lakh in case the owner-driver dies, becomes disable or is injured due to an accident.

Engine Protection Cover

Provides coverage in case of loss or damages caused to the engine due to issues such as water ingression, oil spill, etc.

Daily Allowance Cover

In case the insured’s car is damaged and is being repaired at a garage, then this type of cover provides travel allowance to take care of day to day expenses

Consumable Cover

A regular car insurance policy does not provide coverage for cost of consumables such as oil, nuts and bolts, lubricants, etc. But with this type of add-on such costs are covered.

Accessories Cover

With this add-on, you get coverage for car accessories such as vacuum cleaner, anti-theft device, battery charger, fire extinguisher, etc.

Passenger Cover

In case if the passengers traveling in the car get injured then this cover provides coverage for cost of hospitalization, ambulance charges, etc.

Invoice Cover

In the event of total loss, constructive loss or theft of the car, return to invoice cover provides the car owner up to the amount mentioned in the invoice.

Key Replacement Cover

This add on provides coverage for expenses arising from replacing the keys of the insured car.

Loss of Personal Belongings

With Loss of personal belongings Cover, your insurer will pay for any type of damages or losses to most of your personal belongings kept in the car.

Paid Driver Cover

Paid Driver Cover is quite helpful when you have an employed driver as it pays for any injuries caused to your driver in case of an accident.

Tyre Damage Cover

Tyre Damage Cover comes in handy and provides a great deal of assistance in case of a flat tire while you are traveling.

RIM Damage Cover

Any warping or damages caused to rim is covered when you have purchased the Rim Damage Cover Add-on.

Voluntary Deductible

A Voluntary Deductible refers to a precise portion of the claim money that the policyholder agrees to pay out of his own pocket. This makes premium cheaper.

What's Covered under Daewoo Insurance?

Accidents

Accidents are uncertain. In case of damages caused to car due to an accident, don’t panic as with car insurance you are covered

Theft

In case of theft of the vehicle, coverage is offered up to the insured declared value mentioned in the policy

Natural and Man-made Calamities

Your car is protected against man-made and natural calamities like fire, earthquake, landslide, vandalism, terrorist attack, etc.

Personal Accident

Provides coverage up to Rs. 15 lakh in case of death or disability caused to the owner-driver due to an accident.

Third Party Liability

Get protection against death, disability or injury caused to the third party due to your car

What's Not Covered under Daewoo Insurance?

Electrical breakdown

Mechanical breakdown

Normal wear and tear

Driving without valid driving license

Consequential loss of car

Driving under influence of drugs/alcohol

Using car for illegal purpose

Commercial use of private car

Depreciation of car parts

Damages due to contributory negligence

View More +

How to Buy / Renew Daewoo Insurance Online at Coverfox?

1
Enter Car Details

Fill in your Car registration number and other basic details
2
Compare & Select Right Plan

Go through the shortlisted plans, their premiums and choose the best plan
3
Add Additional Covers

Increase the protection by attaching add-ons like Zero Dep. Engine Protection, etc.
4
Make Online Payment

Pay premium online through a secure gateway from your credit/debit card, internet banking, wallet, etc.

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How to Claim Daewoo Insurance?

Contact the insurance company within 48 hours of the accident or theft
File an FIR in case of third party damage or theft of the bike
Submit the required documents
The insurance company will appoint a surveyor to check on the extent of damages
The car will be sent to the garage for repair
Cashless service will be provided in case the car is being repaired at a network garage
In case of theft, insured declared value will be given to the policyholder after the police shares non traceable report

Daewoo Models

Name of the model	Price of the variant
Daewoo Cielo	Rs. 5.47 lakh
Daewoo Matiz	Rs. 3. 05 lakh
Daewoo Nexia	Rs. 6.22 lakh

Frequently Asked Questions

Q. What type of insurance should I buy for Daewoo Car?
- You can either choose to buy comprehensive car insurance or third party car insurance for your Daewoo Car
Q. What does Daewoo Car insurance cover?
- Daewoo Car insurance provides the below coverage:
  - Natural and man made calamities
  - Theft
  - Third party claims
  - Other inclusions as mentioned in the policy
Q. What does Daewoo Car insurance not cover?
- Daewoo Car insurance does not cover the below
  - Damages caused due to regular wear and tear
  - Driving under influence of alcohol
  - Driving without a valid driving license
  - Registering fraudulent claims
Q. My Daewoo car is not in production anymore, can I still insure it?
- Yes, you can still buy insurance for your Daewoo car online on Coverfox.com. You can get up to 70% discount on purchase and renewal of Daewoo car policy.
Q. Can I renew my old Daewoo car insurance online?
- Yes, you can renew your old Daewoo car insurance online simply by entering your vehicle registration details, car make and model, previous policy number, etc.
Q. How much time does renewal of Daewoo car insurance take?
- Renewal of Daewoo car insurance online takes less than 3 minutes. All you need to do is enter your car details, submit identity and address proof, check on insurance quotes and make the payment online.
Q. What are the car insurance add-ons I can buy with my Daewoo car?
- You can choose to buy various car insurance add ons such as roadside assistance, engine protection, zero depreciation, key loss, passenger assistance, tyre damage, etc.
Q. Are Daewoo cars still being made?
- No, Daewoo cars are not being made and the brand has been taken over by General Motors in the year 2002.
Q. Why did the Daewoo car fail?
- One of the main reasons why Daewoo cars failed is because they started offering huge discounts to customers which resulted in bankruptcy in late 1999.