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  • This Week's Pick

    Third Party Car Insurance VS Comprehensive Cover

    Third Party Car Insurance protects you, the policy holder, against any legal liability arising from an accident involving your vehicle and an arbitrary third party. This includes death/disability to third party and damage to third party property.

    As the name suggests, a comprehensive policy offers overall protection against damages to your car including damages to car, theft, legal liability to third party etc. What all it covers can be extended by opting for add-ons like zero depreciation cover. Although it is more expensive than Third Party Car Insurance, Comprehensive Cover offers end-to-end coverage which means that you as a vehicle-owner will feel completely safe on the road.

Car Insurance- Safeguard your Investment on your Favourite Set of Wheels

In 21st Century India, owning a car has moved beyond being a status symbol to an everyday necessity. Being a car owner proves your financial independence, puts you in a refined league of your peers and wins you some much-needed brownie points with the family. But, the joys of owning a car could be short-lived if say, your vehicle meets with an unfortunate and untimely accident, is stolen, is lost in a raging flood, or worse - if it turns up to be the cause of an accident that costs the life or property of a complete stranger. These situations can be disastrous, costly and frustrating!

Enter, Car Insurance. This handy insurance policy covers you against the uncertainties that could befall your cherished vehicle and protects you against the probable financial losses. Car Insurance is usually very easy to purchase, to renew, and a number of reputed insurance companies and wealth managers count this as one of the premier products in their arsenal.

Types of Car Insurance Policies in India

In India, the following types of car insurance policies are in vogue. These policies are categorized based on their overall applicability and are targeted at specific conditions that can impact your cherished vehicle. Broadly speaking, motor vehicle insurance are of two types-

  1. Comprehensive Car Insurance
  2. Third Party Insurance

Comprehensive Car Insurance : As the name specifies, Comprehensive Insuranceaccounts for a complete range of negatively impactful things that could happen to your vehicle. This includes robust protection from damage/complete loss of car, injury/death that occurs to self, injury/death endured by fellow passengers and/or contracted driver and protection against third party liabilities. Almost all commonly occurring factors are accounted for, including fire, flood, theft, riots, terrorist activities, accidents, etc.

Third Party Insurance : In essence, Third Party Car Insurancedoesn’t provide any coverage for the damage/complete loss endured by your vehicle, or the unfortunate injury/death that befalls the insurance holder. This specialised insurance policy serves as financial protection when your vehicle is involved in/is the originator of an unfortunate accident that results in the destruction of third party property and/or involves injury/death of a third party individual. In such cases, the affected party is likely to push you for damages/compensation and the same will be serviced by the applicable third party liability insurance. Thankfully, Indian laws make it mandatory that every car be insured with a basic third party insurance component.

Compare Before Buying the Best Car Insurance Policy Online

Want another reason to love the internet? How about the absolute ease and speed of comparing online a whole bunch of viable car insurance options?

The best car insurance policies are out there and the World Wide Web offers you the personal, safe and time bound medium to explore them all.

The internet is awash with third party websites that help you compare between the various car insurance policies available to you, from insurers both big and small.

This definitely beats spending oodles of time, manually comparing between the various options- all the commuting, enquiring and double checking, is history!

Humanity is an evolving species, right? The tested fundamentals of old are being slowly, but surely, replaced by modern day options that piggyback on the limitless possibilities offered by the internet.

Comparing car insurance online between the various supposed ‘best’ car insurance policies is just one of the many advantages offered by the modern era of technology and the digital revolution.

Why not indulge in them and gather the most updated, correct and easily retrievable information out there?

If you are a vehicle owner, car insurance is definitely a very thoughtful (and compulsory) investment. And, if you are looking out for an all-encompassing car insurance

policy, find the one that perfectly matches upto your requirements and limitations, online.

What Terms are Usually Covered by a Car Insurance Policy?

  1. Loss or Damage to your Vehicle :

    The average car insurance policy covers the loss or damage endured by your vehicle due to the following reasons,

    • Natural Mishaps: Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide etc.
    • Man-made: Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air, etc.
  2. Personal Accident Cover:

    As part of the overall car insurance, most insurers provide personal accident cover in the event of your unfortunate accident while driving. This accident cover can also be extended to passengers, whose number must usually equal the maximum permissible occupancy in the vehicle, as stipulated by the vehicle manufacturer.

  3. Third-Party Legal Liability:

    The policy also provides for scenarios wherein your vehicle might have been the cause of/ been part of an accident that resulted in the injury, disability or death of an individual (not directly related to you) or caused damages to a third-party property.

  4. Additional Covers:

    Most policies also include provisions to add additional protection for the various secondary components of the vehicle, including electrical/non-electrical accessories, fog lights, stereo system, mats and seat cover etc. Implementation of bi-fuel injection systems, such as for CNG or LPG, can also be covered.

Car Insurance Add On Covers - Optional But Most Important

The following add-on covers are optionally available, and offer features that might not be entirely covered in the original, comprehensive car insurance policy. These optional car insurance add-on covers offer additional teeth, to your already loaded vehicle insurance policy.

  1. Roadside Assistance- An advantageous resource that plays its part when your vehicle suffers an accident or is rendered immobile due to any number of mechanical/electrical problems. Services include, towing, jump starting a battery, fueling up, help from a mechanic, replacement of keys, etc.
  2. Garage Cash- This car insurance add-on provides for the usual transportation and commute of the owner/driver when the vehicle in question is in the garage for an extended duration of time.
  3. Zero Depreciation Cover- This add-on cover allows you to claim the entire amount for the repair and replacement of damaged parts of your car. Thus, you do not lose money over the depreciation factor- the reduction of the price of the vehicle/spare parts, due to natural wear and tear that occurs from prolonged usage and normal passage of time.
  4. Voluntary Deductible- This clever add-on cover allows you to lower the payable premium amount by increasing the deductible amount in case of a claim. In such an event, the amount of voluntary deductible is borne by you. This add-on cover suits the confident driver, who could use a discounted premium.

The Car Insurance Add On Covers mentioned above are just the tip of an iceberg. Insurers, in their own capacity, offer many more add-on covers that add additional value to the existing comprehensive car insurance policy.

Top Car Insurance Companies in India

“Based on IRDA Annual Report 2014-15 on Business Revenue of Insurers”

  1. ICICI Lombard Car Insurance

    If you scan across a multitude of popular media, the ICICI Lombard car insurance review will be found to be very encouraging and superior as compared to its immediate competition. A robust, customer oriented and hassle free insurance plan, the ICICI Lombard Car Insurance is designed for the busy, on-the-move Indian. Packed with such features as immediate online policy issue, on-road assistance at anytime and anywhere, over 3100+ network garages and a series of thoughtful riders including ‘Zero Depreciation Cover’ and ‘Accidental Cover for Co-Passengers’, this policy works hard to qualify as the ideal car insurance option for you. No wonder, the company is an absolute trendsetter when it comes to car insurance.

  2. Bajaj Allianz Car Insurance

    The car insurance packages from Bajaj Allianz are a very popular option with the everyday Indians who are proud owners of their very own set of wheels. Feature rich, customer centric, transparent with easy documentation, Bajaj Allianz Car Insurance comes with such irresistible features as cashless claims at over 1500 garages across India, competent 24x7 customer service, easy claims assistance and the option to purchase and renew the policy online. The handy Bajaj Allianz car insurance calculator available on our website, helps you pinpoint the exact dynamics of your investment and stay on top of things. The Bajaj Allianz Car Insurance is a solid loan option that has enjoyed immense popularity and support from the point of its inception.

  3. Reliance Car Insurance

    The car insurance package from Reliance, one of India’s iconic conglomerates, is tuned to be highly customer oriented, hassle free and reliable. The list of features and benefits are many, including, limited documentation, cashless facility at 2100+ member garages across India, easy and hassle free claim settlement as well as comprehensive on and off the road insurance that is in line with international standards and configured to take minimum time, minimum efforts and impart maximum feedback and consequently, peace of mind. Reliance Car Insurance has managed to build a staunch following in India, comprising mainly of the busy, always mobile, quality conscious and technology driven Indians.

  4. Tata AIG Car Insurance

    With such unique features as free car pick up in the event of an emergency, direct and hassle free settlement within 7 days, no claim bonus protection and coverage for non-core accessories like glass and plastic parts, Tata AIG was bound to be a key player in the car insurance segment- and the Tata AIG Car Insurance review from a plethora of satisfied customers amply proves this. The company is a collaboration between two business behemoths, the Tata Group and the American International Group, Inc. (AIG), thereby assuring that professionalism, domain expertise and quality are part of the deal when you purchase car insurance from Tata AIG. If you seek a robust, scalable and reliable insurance option for your cherished set of wheels, then Tata AIG Car Insurance is one of the best in the industry.

  5. Royal Sundaram Car Insurance

    The age old adage of ‘with experience comes perfection’ sits well with the Royal Sundaram Insurance Company. Licensed since 2001, the Royal Sundaram Car Insurance is a feature rich package that pales its competition in terms of the sheer customer centric options offered. 1800+ cashless garage network across India, 24x7 claims assistance, unlimited claims for zero-depreciation cover and free roadside assistance in the case of emergency makes the car insurance policy from Royal Sundaram a definite advantage. Enjoy peace of mind, cut loose and stretch your car’s running legs with a policy that is designed to have you covered at all times. Burn some rubber without worrying about a flat tyre, a breakdown or accident, Royal Sundaram’s assistance is with you anywhere and everywhere.

  6. Bharti AXA Car Insurance

    A car insurance policy that’s designed to protect your car, and importantly its passengers and you; Bharti AXA Car Insurance is a clear crowd favourite. Based on a multitude of customer feedback, the car insurance can be pegged as being exceptional, extremely car owner friendly and with a short turnaround time in terms of claim settlements. The essential features of this car insurance policy includes cashless servicing at 2000+ network garages across India, easy 24x7 claim assistance that is backed by a hassle free claims settlement process, and a string of helpful add-on covers. As one of the most popular general insurance companies, Bharti AXA has established its credibility on the back of quality driven processes and adoption of their cherished customers’ concerns as the guiding light that prompts the introduction of newer insurance products. No wonder, when it comes to Bharti AXA car insurance review, there are cheers everywhere!

  7. HDFC ERGO Car Insurance

    What happens when an Indian banking giant meets a world-beating general insurance pioneer? You get HDFC ERGO General Insurance and its premier product, the HDFC ERGO Car Insurance an insurance policy that is close to the popular public expectations, this car insurance comes loaded with lots of customer centric features and benefits. The list includes cashless claims service at 1600+ member garages across India, a dedicated and expert customer support team that’s always at your beck and call, easy and hassle free claims process and instant online policy issuance and renewals. HDFC ERGO has established itself as a premier car insurance product amongst the discerning Indian public.

Know More About Top Car Insurance Companies in 2016

In principle, the act of purchasing your car insurance online saves time, effort and the expenditure of money and patience, to varying degrees. Elaborating, the perks of latching onto a online car insurance policy are summarized as follows-

Hassle Free Process- Unlike visiting an actual outlet of the insurer, the online car insurance application process is simpler and quicker. Plus, there are no documents to submit or verifications to affect immediately. Thus, within a very limited, clearly defined steps, you are the proud owner of a comprehensive car insurance policy. All of this, from the comfort of your abode or the workstation at your office!

24x7 Coverage- The inherent speed of policy issue that is a principal characteristic of acquiring a online car insurance plan ensures that you are never without coverage. With the purchase of your car insurance online, get instantaneous policy issue with e-copies of the policy that can be accessed anytime, anywhere and printed out.

Everyone is Doing it- Most of the domestic and international car insurance providers operating in India provide the option to purchase or renew your car insurance online. It’s all about customer comfort, right?

The other benefits of subscribing to the e-route include the freedom afforded to you when choosing from a big list of insurers via their online profiles, and the option to conduct business the electronic way without involving money in its physical form. Bottomline, the manifestation of car insurance online is here to stay!!

A car insurance policy offers comprehensive protection and safeguards against legal hassles & expensive repairs in case of a mishap involving the insured car. Choosing the right car insurance can be quite tasking. Not all the policies available in the market gel well with your expectations. It is important to engage good amount of time and resources in learning about benefits & features of policies available in the marketplace to ensure you get the best car insurance policy.

Some of the key considerations should revolve around the following points.

Claim Settlement Ratio
  • How many claims did the insurer receive during a stipulated period and how many were fully settled?
  • You can lookup for data on claim settlement on the insurer’s portal or scout for relevant forums online for reference.
  • Higher the claims settled, better are your prospects of a hassle free claim if a need arises in the future.
Insurance Premium Amount

Money plays a pivotal role in choosing the right car insurance policy. At the end of it, we would like to have a policy that has the best features at a nominal price.

  • Compare car insurance pricing online
  • Get quotes and decide
  • Inquire about hidden charges
  • Estimates for add on coverage
After Sales & Customer Service

A customer friendly insurer understands that efficient customer support is key to customer satisfaction & invests fair amount of resources in building an efficient customer service team.

  • Understand the efficacy of after sales and customer service
  • Read about experiences posted by existing customers
  • Review sites and online forums.

In addition to the above, smaller facets such as network garages & workshops, cashless benefits, brand value should be explored before buying a car insurance.

Car insurance protects the interests of a car owner and safeguards it against expensive repairs and damages caused to self, the insured car and third party. We must take utmost care while driving by following traffic rules and by navigating safely to our destination. Having said this, there can be an unfortunate accident involving the car resulting in damage and/or casualties. In such situations, the car insurance comes handy, helping you to meet the financial obligations relating to the mishap.

The claims procedure can be complex if you do not understand the dynamics surrounding it. Let us tell you more about how you can make it an easy experience.

Claim for Own Damage

In case of a major accident resulting in heavy damage to the car,

  • Inform the insurer immediately.
  • Record a claim and if required by the insurer, you may have to report the incident in the local police station.
  • Do not attempt to move the car unless confirmed by the insurer.
  • If it is a minor damage that does not require police intervention, move the car to a safe location & inform the insurer.
  • Raise a car insurance claim after assessing the damages. Upon authorisation by the representing surveyor, the claimant can proceed with the repair and replacement work.
  • You can pay and claim or if cashless facility is available, the car insurer directly settles the claim with the garage.

Third Party Car Insurance Claim

If the mishap involving your car resulted in damage or casualty to a third party that requires medical attention, shift the victim to a nearby medical facility immediately and call the insurer. The representatives will instruct you further on the action points.

Get More Info On Third Party Car Insurance

Theft Claim

If the car is stolen,

  • Report to the jurisdictional police and insist on an FIR(First Information Report).
  • Call the insurer immediately and inform them about the theft.
  • You will asked to provide a written complaint in the form of an e mail or a letter.
  • Follow the instructions provided for hassle free settlement of the car insurance claim.
  • Referring to the original policy document will help you in getting acquainted with the timelines and procedures.

The modern world is online 24x7, affecting everything from shopping to clearing out EMIs with ease and reliability. Why must you wait in line to subscribe to a good car insurance policy? Banks has woken upto the advantages of offering car insurance renewal online and are ably supported by third party websites that compare the various available insurance policy products. The inherent procedure is as simple as-

  1. Know Your Requirements- How much car insurance are you looking for? What kind of premium amount are you comfortable with? What type of features and benefits would make for a comprehensive car insurance policy? Understanding your express requirements is always the first step.
  2. Go Online- Access the online portal of the chosen car insurance vendor and purchase the policy after complying with some basic Know Your Customer (KYC) procedures. Usually, requisite documents can be submitted at a later stage when claims are raised on the policy, rendering the online signup procedure that much faster.
  3. Car Insurance Renewal Online- The aforementioned online portal also offers motor insurance renewal. Respond to timely notifications from your insurance provider and pay your premiums on the portal itself. All of this is quick, robust and economical when compared to its traditional, offline version.

In the modern context, purchasing car insurance online has emerged as a popular option amongst busy people, especially working professionals dwelling in the metros and other big Indian cities. Car insurance companies too have woken upto the latent potential of offering motor insurance online, hosting comprehensive web portals that simplify the procedures of gaining information, signing up and renewing car insurance policies through the magic of the World Wide Web. How can you purchase car insurance online? Read on…

  1. Compare- Different companies, different car insurance products, and hidden somewhere in this pile is your ideal motor insurance policy. It pays to check out the various available options, in terms of the money you save and the additional features that you can get for the average buck.
  2. Login to Purchase- After selecting the ideal policy, it’s time to seek out the insurance provider’s website and check if the option to purchase the motor insurance online is available. Most well-known companies do, and the purchase procedure in itself shouldn’t take a great deal of time. Payments can be affected through credit/debit cards, or netbanking. Also, in most cases, provision of the requisite documents could wait until an actual claim is raised on the policy at a later date.
  3. Renew Online- If purchasing car insurance online was easy, periodically renewing the same is simpler. Just pay heed to the timely emails/SMS from your insurance provider and renew the policy just as how you purchased it in the first place.

The World Wide Web has simplified our lives in a whole range of ways- the option to buy car insurance online being one such uber convenience. Ditch the long lines and the confusion, compare and purchase your motor insurance policy online.

This is a very good question. Why bother with the chicken when you are a Vegan, right? Primarily, the following five reasons should answer your query:

  1. It’s the Law

    Under the provisions of the Motor Vehicles Act of India, all vehicles that operate in public places must have a car insurance policy as a mandatory document. At the very least, the policy must cover ‘third-party liability’, that is, a cover in scenarios where your vehicle was the cause of an accident that resulted in injury, loss of property and/or death of a third party.

  2. Pay Little Today, Save Big Tomorrow

    According to recent estimates, every 6th car crash in the world happens in India. This is staggering odds and a likely indication that your car could very well end up on the side of the road one of these days, after a brutal crash that could have resulted in injury, death and of course, massive losses in terms of repairs and replacements for your car. At that instance, the compensation and charges could run into several thousand or lakhs of rupees that may not be immediately available. However, with Car Insurance, there is complete peace of mind - paying a nominal premium today, to be tension-free when an unforeseen accident happens at a later date.

  3. Saving Time When Accidents Happen

    Accidents are stressful on their own without having to deal with the question of ‘What next?’ With your car insurance, comes your insurer’s expertise in handling these tense situations. Walking you through the claims process, helping you find a good garage and settling your claim on time - things that you will be thankful for when dealing with the aftermath of an unfortunate road accident.

  4. A Supplement for your Health Insurance

    Most Car Insurance policies offer coverage for injuries that might be sustained by you and your fellow passengers as a result of your vehicle’s accident. If not, personal injury protection can be purchased as an add-on feature. This acts as a powerful supplement to your health insurance - additionally covering for items that might not be covered by your health policy, including specialist care for accident-related injuries, dental repairs, funeral costs etc.

  5. Sustained Peace of Mind

    Just imagine, cruising on an open highway or wriggling through rush hour traffic without overtly worrying about the consequences (mostly financial) of a freak accident or an ‘innocent’ brush-up with an adjoining vehicle. Not having to pay for the mistakes of others. That’s mental peace - in it’s purest form!

In today’s fast paced world, getting things done online is nothing short of a divine boon. Car Insurance renewal online is today’s reality, and quite a popular one at that. Almost all car insurance companies in India provide their customers the option to renew their policies online, through simple net banking transactions, or the safe usage of credit/debit cards.

In the bargain, the customer saves valuable time, saves on the basic impetus of money as well as saves his/her often understated patience. The insurers on the other hand, offer this simple online renewal option and are assured of more inquisitive interest from their target audience, greater number of loyal repeat customers, and sizable savings in terms of setting up and maintaining the offline infrastructure. Online policy renewal is here to stay!

  1. General and natural ageing that results in wear and tear.
  2. Damage caused to vehicle when the driver wasn’t carrying a driver’s license, and/or driving under the influence of alcohol or other mood/mind stimulating substances.
  3. Mechanical or electrical breakdown.
  4. Damage to vehicle by war, mutiny or nuclear attacks.
  5. Depreciation in line with the market scenarios and other external conditions.
  6. Loss of the vehicle or damage incurred that can be sufficiently proven to be deliberate or consequential.
  7. Damage to the vehicle while it was being operated outside the borders of India.

When it comes to finding the best Car Insurance policy that works for your specific requirements, all you can do is ‘compare, compare and compare’. Our expert customer support team is always at hand to help you with your queries, and our uniquely simple website pays loads of respect to your need for functional beauty, user experience and simplicity of operation.

Simply, follow the flow and discover the best Car Insurance in tow. We wish you a lifetime of safe and happy driving…and the comprehensive protection of a robust Car Insurance when bad times strike on the road.

  1. Is owning a car insurance policy mandatory?

    Yes. According to prevalent motor vehicles laws in India, every vehicle plying on Indian roads must be insured.

  2. Is it possible to purchase car insurance online?

    Yes. Infact, the option to buy car insurance online is often highlighted by most compliant insurers as a surefire means to stay covered 24x7 and never run out of the applicable coverage.

  3. How do insurers calculate the applicable car insurance premiums?

    When deciding upon the applicable premium amount, many factors are at play. Different companies charge different rates, based on differing criterias, when it comes to own damage cover. Also, deductibles and the IDV factor play a part when the premium amounts are decided upon. Shop around, and find a policy that best matches your requirements- ideally, avoiding a scenario wherein the premium might be less but the deductibles are high and the coverage and IDV are low.

  4. What is ‘No Claim Bonus’?

    No Claim Bonus, or NCB in car insurance is the benefit awarded to the insured for not making any claims during the previous policy period. Currently, this bonus ranges from 20% on the Own Damage premium upto a maximum of 50%. Note that this doesn’t apply on liability premium.

  5. Is service tax applicable on the premium payments?

    Yes. The applicable service tax is in line with the regulations set by the Insurance Regulatory and Development Authority of India (IRDA).

  6. What documents must always be available in the vehicle for ready inspection?
    1. Copy of the Driving Licence of the individual driving the vehicle.
    2. Insurance Certificate.
    3. Copy of the vehicle’s Registration Certificate.
    4. ‘Pollution Under Control’ Certificate.
  7. What must I do if I lose my insurance policy?

    Getting a duplicate copy of your insurance policy is very easy. You could either approach your insurer’s office for the same or, if you have procured the car insurance online, print-out the soft-copy of the policy that was forwarded to you.

  8. What is IDV?

    The Insured’s Declared Value (IDV) refers to the current market value of your vehicle as fixed by your car insurance company. The IDV comes in handy when claims are raised in cases of theft or total loss of the vehicle. Your insurer arrives at your vehicle’s IDV by pitting the manufacturer’s listed selling price against the commonly adhered to depreciation percentage.

  9. What is Zero Depreciation Cover?

    Commonly offered as an Add-On, the Zero Depreciation Cover offers full settlement on your claim without the usual deduction affected for depreciation (or periodic reduction in value of the vehicle/automotive parts due to natural wear and tear caused due to normal usage). Deduction due to depreciation is a common factor with the normal car insurance.

  10. Why car insurance premiums differ from company to company?

    Car insurance premium rates differ from one company to another based on their own internal protocols. The company calculates your premium based on these factors- a) The risk posed by you to the insurer, b) the insurer’s operational costs, c) the estimated money that the insurer is likely to pay as settlement through the year.

  11. What are the factors to consider before buying a car insurance policy?
    1. Brand and track record of the insurer.
    2. Coverage and the fine print.
    3. Customer service- both offline and online.
    4. Customization, perks and discounts.
    5. The clincher- Price!!
  12. How to calculate car insurance premiums?

    The simplest way to calculate your car insurance premiums is with a good Car Insurance Premium Calculator. While most lending banks offer this facility on their websites, competent third party calculators are also readily available.

  13. What is covered under third party motor insurance?

    Third party motor insurance doesn’t cover you and your vehicle. Its major purpose is to protect you against any liability that could arise from your vehicle’s involvement in an accident that led to the loss, damage, injury or death of third party property or individuals. Summing up, the following is covered-

    1. Damage to third party property.
    2. Injury or death of a third party (individual(s)).
    3. Accidental death and/or permanent total disability of the insured vehicle’s owner/driver.
  14. I have shifted to a new place. Is it necessary to update my registration address on my car insurance? How do I do it?

    Of course it is necessary to update your change of address at RTO as well as inform your motor insurer. You can get in touch with your insurance provider via their toll free number, email or in person. You can do this online as well. Just go to the official website and enter the details in the required columns.

  15. How do I go about transferring my car insurance from one firm to another?

    After informing your current car insurance provider, please submit the documents mentioned below.

    • Transfer of Policy (Sale of Vehicle)
    • New RC duplicate copy /form 29-30
    • Old policy document
    • NOC from the last insured
    • Transfer Charge - INR 50
    • Duly filled new application form, collected from the company.
    • Inspection of the car
  16. I am eligible for a No Claims Bonus (NCB). But I earned it when I went abroad. Can I still avail it?

    Being a safe driver, you certainly deserve a reward. But when it comes to earning it abroad, there are some slight variations to the eligibility. An insurance user can be granted a No Claims Bonus (NCB) on a new car insurance plan taken out in india as per the eligibility earned overseas. But this is applicable only if the scheme is taken out in india within three years of expiration of the international car insurance plan, depending on applicable provisions of NCB as per these rules and regulations..

  17. Can I get medical cover for bodily harm or demise of the passenger(s) commuted in my car? Should I buy separate cover for that?

    This is exactly why third party cover is mandatory for all car owners. Car insurance is there to safeguard you when the unforeseen occurs. But when your own actions on the road cause a mishap, this cover becomes even more crucial. And yes, medical expenses are also covered in the third party car insurance, mandatory for all car owners.

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Smart Buying tips for your Car Insurance

01
Be an Add-on Smart Cookie

Get complete information about the add-ons available to be integrated into your car insurance policy for additional coverage.

02
Renew On Time, Every Time

Set reminders for your car insurance renewal dates so you never miss your policy's renewal date. The early bird always stands to benefit.

03
Avoid False Declarations

False declarations will come back to haunt you. Your car insurance policy will lapse immediately if any incorrect information is found at any stage of your coverage period.

04
Discount for Security Features

Some cars come with enhanced built-in security features such as anti-theft alarms, immobilizers and other systems that give potential thieves nightmares. With a low probability of theft, such cars can be insured for less premium. Note that only Automotive Research Association of India (ARAI) approved devices will fetch a 2.5% discount on your premium.

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Your premium for a Car insurance is determined by

01
Registration City

The city where a vehicle is registered determines premiums. Cars in metropolitan cities have to pay higher premiums as the incidence of vehicle thefts and accidents is higher.

02
Make & Model

Vehicle make and model and potential risk factors associated with it is a factor. For instance, some makes and models fare better in collisions than others so injuries to occupants and damage to the car would be less severe.

03
No Claim Bonus Percentage

The insurance premium amount will always be less if you haven't made any claims before. The no-claim bonus percentage plays a major role in determining your premium amount. So think twice before scurrying to your insurer for a miniscule scratch or dent.

04
Type of Cover Taken

Additional cushions you may consider such as cover for CNG/LPG kits, key replacement costs, road-side assistance etc. will increase your premium amount.

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Expert Tips For Cutting Your Car Insurance Costs

01
You Snooze, You Lose

Always renew your motor insurance before the due date to avoid the inconveniences such as vehicle inspection as well a potential increase in premium cost.

02
Don't Sweat the Small Stuff

Making small claims like dents and scratches will push up the premium amount when you renew it the following year and you will lose the no-claim bonus in the corresponding year.

03
The Net's Your Best Bet

Buying car insurance online will save you a pretty penny in processing and distribution costs and could give you more discounts than a direct purchase.

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Read Car Insurance news or Enjoy it on the go Google Play

  • ICICI Lombard Motor Insurance Segment Registers 30% Growth

    India’s most prominent private sector non-life insurance provider, ICICI Lombard recently announced a growth of 30% under its motor insurance segment. The growth which was recorded during the first half of the financial year, has been achieved by the company after a gap of nearly 8 years.

    1st December 2016

  • Bulletproof Passenger Cars to Be Introduced in India

    Essar Steel India Ltd. (ESIL) stated that they are planning to use bulletproof steel in cars, and are in talks with vehicle designers for the same. The latest product from the company, bulletproof steel, absorbs the force of a bullet that travels at a speed of 700m/sec, without creating a dent on the vehicle’s surface. The steel is extremely durable, with hardness levels greater than 500 BHN.

    These vehicles will be the first of their kind in the Indian market, and the increase in focus on personal security will result in greater demand for such cars.

    BankBazaar News About Insurance

    28th November 2016

  • Bajaj Allianz Launches DriveSmart Service

    Bajaj Allianz General Insurance has recently launched a service called as ‘DriveSmart’. With the help of this service, customers can buy car insurance plans. This service will also give information regarding the driving habits. The premium charges for each customer will be decided based on the data given by Telematics. According to Sourabh Chatterjee from Bajaj Allianz, the DriveSmart service is much superior when compared to other covers as it provides lot of additional benefits as well. It will monitor the driver and give data regarding vehicle diagnostics, navigation, statistics etc. Based on the feedback, the customers can reduce the rates by working on their driving styles. Ever since its launch in September, the service has become quite popular.

    BankBazaar News About Insurance

    25th November 2016

  • Premium Collection of General Insurers up By 32%

    According to data released by the General Insurance Council of India, it has come out clear that insurance premium collection has risen by a whoppin 32%.

    This data, which analyses the business for the first 7 months of FY17, has reported that about Rs.76,607.92 crores have been collected by both public and private limited companies.

    However, the data went on to suggest that private players had a way bigger hand in the money collected as compared to public companies.

    Private firms like Bajaj Allianz, Reliance General, TATA AIG General Insurance, and ICICI Lombard among others racked in a growth of 32.5% to collect Rs.29,851.31 crores. On the other hand, public sector firms like National Insurance, United India Insurance Company, and New India Assurance among others saw a growth of 27% and collected Rs.34,754 crores as compared to the same period last year.

    Experts in the industry cited the rising popularity of two-wheeler insurance as the main reason behind this massive growth

    BankBazaar News About Insurance

    25th November 2016

  • Volvo to Launch 5 New Models in India

    Volvo is set to launch 5 new models in the near future in India. The company announced it will be introducing a new line of SUV’s and sedans in the Indian market following the success of its flagship S90 sedan.

    Among the cars to be launched is the XC90 R-Design, an SUV from the Volvo fleet. The car comes with an edgier look and 20-inch alloy wheels, among others.

    Volvo is also introducing the V40 and V40 Cross Country sedans, which are their most affordable cars. The two recently received an overhaul and now come equipped with design updates and daytime running LEDs.

    The S60 Polestar is another new entrant. While the S60 sedan is already on the market, the Polestar comes with a more powerful engine, packing in 467 Nm of torque with 367PS of raw power.

    The V90 Cross Country, launching mid-2017 is another SUV, combining speed with utility and comfort.

    While Volvo does not provide in-brand car insurance policies for its fleet, customers can pick from a range of providers to ensure their car receives the maximum insurance protection.

    BankBazaar News About Insurance

    21st November 2016

  • Maruti Suzuki India to Launch More Mild-Hybrid Cars

    Maruti Suzuki is planning to launch more mild-hybrid cars in India. Introduction of hybrid technology for small cars will help the company to strengthen its market position further. According to RC Bhargava (Chairman), this is really a sensible move for India as it has not been done globally yet. The company is planning to launch Baleno SHVS next year as a mild-hybrid car. Soon, they will move on to other models as well. The good news is that getting hybrid technology is not expensive. It is cost effective and it has also helped the company to get subsidy benefits. The company is planning to introduce around 16 lakh units in the market for this fiscal.

    BankBazaar News About Insurance

    16th November 2016

  • Zoomcar Installs ADAS to its Cars

    In an effort to decrease the number of road accidents due to driver’s negligence, Zoomcar has decided to install advanced driver assistance systems (ADAS) to its cars. The system has already been integrated in 40 vehicles in New Delhi. Now, the company is planning to branch it out to other cities as well. According to Greg Moran (CEO of Zoomcar), this new innovative technology will contribute a lot in reducing the number of accidents by giving real time assistance to the drivers. The system will provide different kind of warnings such as collision, lane departure etc in the form of audible alerts. ICICI Lombard will also pay a huge role as an insurance partner for this plan. Apart from this, Zoomcar has also launched some new technology enhancements such as speeding alert system, bluetooth based hardware etc to monitor the functioning of its vehicles.

    BankBazaar News About Insurance

    10th November 2016

  • 4 Level GST Rate will Not Bring Down Costs Of Luxury Cars and SUVs

    The implementation of the new GST regime is not going to turn luxury cars and SUVs any cheaper. The current rate of central and state taxes are 54% for larger vehicles. The new GST tax slabs will alter this value to stand at 28%. However, there will be an additional cess imposed to compensate for the difference in rates.

    Experts are of the opinion that smaller cars, electric cars, and hybrid vehicles will be taxed differently from the sedans. This is done to promote the use of these vehicles, and is an attempt to relieve the population of pollution and congestion on the roads. Currently, the excise duty that a small car (less than 4 metres long) attracts is 12.5%. The next segment of cars (length of 4 metres) is charged 24% excise tax. When the length of the car is more than 4 metres and engine capacity is 1200 cc (petrol) or 1500 cc (diesel), the excise duty is 27%. The highest excise tax of 30% is charged on MUVs and SUVs that are characterised by lengths of over 4 metres and engine capacities of 1200 cc (petrol) or 1500 cc (diesel).

    In addition to the excise tax, vehicles also attract VAT and road tax at a state level. These are also higher for sedans and luxury cars.

    BankBazaar News About Insurance

    9th November 2016

  • India Not the Best Place for Self-Driving Cars, Says Chairman of Maruti Suzuki

    While the automotive sector maintains its stance on self-driving vehicles, RC Bhargava, the Chairman of Maruti Suzuki, says that autonomous vehicles like these will not be well accepted in India. The main reason for self-driving cars not working in India, as cited by Mr Bhargava, is that driving rules are not obeyed by most people. Although he would not mind people’s efforts in putting the technology to use given the driving conditions in India, his views on self-driving cars in the country remain bleak. He added that “no technology will work when nobody obeys the driving rules.

    BankBazaar News About Insurance

    8th November 2016

  • Toyota Kirloskar Motors Join Hands with Uber

    In an effort to increase sales, TKM(Toyota Kirloskar Motors) has joined hands with Uber. As per this new partnership, TKM will provide buying solutions to first time drivers in Uber. Not only this, the drivers will also be provided with 90% on-road funding on Etios Sedan and Etios Liva Hatchback. However, this scheme will be valid only till 31st December, 2016. According to N.Raja from TKM, this partnership will surely help in giving a boost to the ride-sharing market in India. It will help fulfilling the mobility needs of an Indian in a more efficient way.

    BankBazaar News About Insurance

    25th October 2016

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