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    Car Insurance

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    Customer Reviews

    • Royal Sundaram Car Insurance
      "Customer friendly process"
      0.5 4.0/5 "Great!"
      I think I paid the premium of Rs.8500 for two wheeler insurance with Royal Sundaram for my Maruthi swift desire car. My vehicle around Rs.7.5 lakhs, now its almost around four years hence they gave coverage value of Rs. 4.25 lakhs, Its 60% of vehicle value, I am very fine with Royal Sundram renewal process is so convenient.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 16, 2017
    • New India Car Insurance
      "low premium high value"
      0.5 2.0/5 "Expected more"
      I have taken car insurance from New India Assurance, I paid the premium of Rs.15,000 its has the tenure one year. I took Hyundai verna car, vehicle value around Rs.7 lakhs, they gave coverage value of 2 lakhs because my vehicle is around eight years old.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 16, 2017
    • HDFC Ergo Car Insurance
      "Better Policy to use"
      0.5 4.0/5 "Great!"
      Recently I have got the HDFC ERGO GENERAL INSURANCE POLICY to my 4 wheeler. I paid Rs.17100 to get the 4 wheeler insurance policy from HDFC ergo. The customer service is good with HDFC ergo. The plan benefits and the cashless garages options are good with this policy. I am happy about it.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 14, 2017
    • Oriental Insurance Car Insurance
      "Better Policy to use"
      0.5 4.0/5 "Great!"
      I hold a 4 wheeler insurance policy from 2012 with Oriental insurance. I paid Rs.2700 to renew the policy. One of my friend is an agent with Oriental insurance company so ,he reminds me to renew the policy on time. The plan benefits and the policy coverages are good with policy. The cashless garages options is available with this policy. I never had any claim experience with oriental insurance.
      Was this review helpful? 0
      , chittorgarh
      Reviewed on Aug 14, 2017
    • Shriram Car Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I renew my 4 wheeler insurance policy with Shriram general insurance for past 2 years. I paid around Rs.12,000 to renew the policy this year, The plan benefits are good with this policy. They don't give any kind of reminders to renew the policy before the expiry date. I would say it is an average service from Shriram general insurance.
      Was this review helpful? 0
      , dindigul
      Reviewed on Aug 12, 2017
    • HDFC Ergo Car Insurance
      "Excellent benefits"
      0.5 5.0/5 "Blown Away!"
      Since I am a very long time customer with HDFC Bank. There are loads of offers even from HDFC Ergo for my car insurance. I got a offer of 1 rupee to change my plan to a bumper to bumper offer. The premium is of 24K annually and the coverage is also excellent.
      Was this review helpful? 0
      , tirunelveli
      Reviewed on Aug 12, 2017
    • HDFC Ergo Car Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      Insured my 4 wheeler with the HDFC Ergo. I am renewing the policy with HDFC ergo for past 2 years. The service with HDFC ergo is very good. It would be great if the HDFC ergo gives the reminder call to renew the policy before the due date. I paid around Rs.4000 to renew the policy this year. The plan benefits and the coverage are good with this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 12, 2017
    • ICICI Lombard Car Insurance
      "Low premium policy"
      0.5 3.5/5 "Pretty good"
      Earlier I paid the premium around Rs.5000 to 6000 for car insurance with the tenure of one year, its give cover at bumper to bumper and other benefits. After GST now the premium amount increased more than 500 rupees. ICICI lombard, they done have sufficient branch to walk in directly for any queries, they should increase it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 12, 2017
    • Tata AIG Car Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I got the TATA AIG 4 wheeler insurance policy for the 4 wheeler which company has provided me. The policy coverage's and the cashless garages are available with this policy. I never had any kind of claim experience so far. I am happy holding this policy with TATA AIG Generak Insurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 09, 2017
    • New India Car Insurance
      "IT IS GOOD"
      0.5 5.0/5 "Blown Away!"
      My car insurance was transferred directly to me, I have not received any kind of calls or messages from them. But every time I make the premium on time but their rates are high. On the other hand, it has good zero dept policy and it is really good.
      Was this review helpful? 0
      , udaipur
      Reviewed on Aug 07, 2017
    • Chola Ms Car Insurance
      "Customer friendly"
      0.5 5.0/5 "Blown Away!"
      Just one month back the representative came to my place and I had taken this Cholamandalm car insurance. Customer service provided by them is really good, he came to my place collected all my documents took a pic of my car and left, completed the process and I have just made the payment before one month. Unable to comment much about them because I am yet to experience their claim benefits.
      Was this review helpful? 0
      , karimnagar
      Reviewed on Aug 06, 2017
    • Bajaj Allianz Car Insurance
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      I have my four wheeler insurance policies with the Bajaj Allianz general insurance company and I have not faced any claims with them. Policy coverage aspects are good and they are having good garages and other things and it is first party insurance.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Aug 04, 2017
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    Car Insurance BYTES FROM OUR KITCHEN
    • This Week's Pick

      Bajaj Allianz Car Insurance - What is covered and what is not

      The Bajaj Allianz car insurance plan, with its comprehensive features, is one of the best in the Indian insurance domain today. If your car is protected by the policy, you can enjoy the convenience of cashless claim settlement for vehicle repair at more than 4,000 authorized network garages. In case you choose to get the car repaired at a preferred garage where the cashless facility is unavailable, you can avail 75% on your account payment.

      If you stay claim-free, you receive attractive discounts on future premiums. Members of the Automobile Association and those who have installed anti-theft devices in their cars can avail discounts as well.

      Inclusions

      • Own Damage Cover - The coverage includes losses due to natural calamities, man-made perils, or accidental means. If the vehicle was damaged in transit via rail, road, life, air, or inland waterways, the expenses for repair will also be covered.
      • Third-Party Liability Cover - Expenses arising out of injury/death of a third-party or damages to third-party property following a car accident will be covered.
      • Personal Accident Cover - This cover offers the policyholder/nominee a sum assured following a car accident, resulting in death or permanent total disability of the policyholder.

      Exclusions

      • Damages incurred by the vehicle outside the country are not covered.
      • Claims arising out of consequential loss or contractual liability are not honoured.
      • If the vehicle was used for activities mentioned outside the policy document, damages incurred will not be covered.

    What is Car Insurance?

    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!

    Car insurance is an insurance provided towards loss or damage of a vehicle such as a car, or commercial vehicle. It is a policy purchased by the car owner to mitigate costs incurred due to the accident that caused damages to the vehicle. Instead of paying through their own pocket, car owners pay premiums to an insurance company and the company pays most of the costs associated with the accident. The premium amount payable towards car insurance is decided by factors such as type of vehicle, age of the vehicle, age of the insured, insured declared value, etc. A car insurance covers for liability, property, and medical expenses. Although it is compulsory for vehicle owners to have insurance, some prefer to purchase additional insurance to ensure further protection.

    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.

    Why Do I Need Car Insurance?

    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!

    Why is it important to have Car Insurance in India

    There are several reasons why it is important to have an auto insurance for your vehicle including:

    • Third-party insurance is a necessity in India as per Section 146 of the Motor Vehicle Act, 1988.
    • The rate of vehicular accidents is high in India due to improper roads, especially during the monsoon.
    • Manmade disasters such as riots and theft or natural disasters such as floods and earthquakes cannot be predicted or controlled. Under such scenarios, an auto insurance provides you with financial assistance at your hour of need.
    • In the case of a death or disability, the family is burdened with financial needs such as medical costs, vehicle repair costs, third-party liabilities and so on. In such a case, an auto insurance comes in handy wherein you receive financial protection during your hour of need.
    • Whether it is a car part replacement or repair, the cost is very high. In addition to providing coverage against vehicle damage, some insurance companies offer roadside assistance and cashless garage facility to make life easier for you.

    Types of car insurance policies in India

    When choosing a car insurance plan, car owners must compare car insurance policies across all insurance providers to get a suitable policy and the lowest premium possible. There are 2 types of auto insurance plans available in India:

    • Comprehensive insurance: This type of insurance will cover third party liabilities as well as damages caused to you and your car. You will receive financial protection against liabilities arising from natural disasters, theft, and accidents. Comprehensive insurance plans include third-party premium and own-damage premium. Own-damage premium is determined based on the age of the car, make and model of the car, geographical location, and engine capacity.
    • Third-party insurance: The most common type of insurance found in India is third-party insurance as it is mandatory for all running vehicles on Indian roads. This type of auto insurance will cover damages caused to a third party in the event of a vehicular accident. The base premium is calculated based on the Cubic Capacity of your car engine. The revised third-party insurance rates by the Insurance Regulatory and Development Authority of India (IRDAI) are as follows:
    Engine Capacity Premium Rate
    Less than 1,000cc Rs.2,055
    Above 1,000cc but less than 1,500cc Rs.3,132
    More than 1,500cc Rs.8,630

    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.

    Documents required for car insurance

    The documentation process is minimal in car insurance compared to other insurance policies. Anyone who owns a car and is above 18 years of age can purchase an auto insurance. You have to submit a copy of the Registration Certificate (RC) and duly-filled proposal form to obtain an auto insurance. In the case of a car insurance renewal, you have to submit the previous insurance policy documents along with the RC and proposal form. Ensure the details provided by you are correct or the company can terminate your policy at anytime on the basis of misrepresentation.

    How premiums are determined for car insurance policies?

    There are several factors that an insurance provider will take into account to calculate your car insurance premium such as:

    Insured Declared Value (IDV) The insurance provider will consider the IDV of the make and model of your car. The IDV changes annually after adjusting the depreciation value of the car.
    No Claim Bonus (NCB) You are entitled to a NCB if you haven’t made any insurance claims in the previous year.
    Discounts or offers If the car contains additional accessories that are not included in the selling price of the car or a part of the manufacturer’s catalogue, then the premium for those accessories will be calculated separately.
    Age of the car The entry of new models of cars can reduce the value of the older models.
    Geographical location India is divided into Zone A and Zone B. Zone A includes all the major cities in the country (Bangalore, Ahmedabad, Chennai, Mumbai, Kolkata, Pune, and New Delhi) where the accident risk is considered to be high, therefore the insurance premium is higher than in Zone B (the rest of the country).
    Add-ons Facilities like roadside assistance, lock and key replacement, and loss of personal belongings will add to the insurance premium cost.

    The insurance premium for used cars that are more than 5 years old will be decided based on a mutual agreement between the car owner and the insurance provider.

    How to save on Car Insurance Premium

    Before purchasing a car insurance policy, it serves to compare various policies online and choose the one with a lower cost or at the least a discount on premium. The following are the ways by which to save on your car insurance premium:

    • Get minimum 3 quotes before choosing the one that best suits your car insurance needs.
    • Higher deductibles mean lower insurance costs. Ensure you have enough money put aside in the case of claim.
    • Review the insurance coverage on your old cars at the time of policy renewal. If the premium is higher than the worth of your car, then reduce the cover.
    • Some insurance providers may offer discounts if you buy more than one policy from the same company.
    • Forgo small claims such as dent and scratch repairs in order to retain your No Claim Bonus.
    • Install safety devices in your car to bring down the insurance premium considerably.
    • Members of the Automobile Association of India receive discounts on their insurance premiums.

    Agents vs Dealers vs Brokers

    There are various channels through which you can obtain an auto insurance for your vehicle as listed in the below table:

    Agents Dealers Brokers
    Insurance agents represent a single insurance company. They are employed to sell the insurance products of a particular insurance provider. Car dealers sell cars to the customer. The car usually comes with a third-party insurance. Brokers are individuals or organisations licensed by the Insurance Regulatory Development Authority of India (IRDAI) who can sell insurance products from various insurance providers.
    Insurance agents have expertise in insurance products sold by the particular insurance company that they work for. Dealers usually have tie-ups with a particular insurance provider. Therefore, they may have minimal knowledge about the insurance plans provided by that particular insurance provider. Brokers are experts in insurance policies provided by various insurance companies and also assist in after-sales service.
    They can guide you in choosing the right policy and making claims. They also have extensive knowledge on their products. They can handle all the paperwork involved in obtaining the third-party insurance that they are selling. You have opportunity to compare several policies and choose the one that best suits your insurance needs.
    If you want to switch insurance providers, you will have to approach a different insurance agent. Car dealers don’t have the knowledge required to help you choose the right insurance plan to suit your needs. Although a broker can help you through a claim settlement process, the final decision lies in the hands of the insurance provider.

    Car insurance add-on covers - optional but most important

    Car insurance policies can be customised to suit your insurance needs by attaching add-on covers to your base insurance plan. The various add-on covers offered in India are:

    Hydrostatic Lock Cover: Comprehensive insurance doesn't cover any damage to your car engine. During floods or rains, your car engine could get damaged. Hydrostatic lock cover provides cover against any engine parts repair or replacement due to water damage. This add-on cover is applicable only for vehicles that are less than 5 years old.
    No Claim Bonus Protector With this add on, the no claim bonus can be retained even after making 2 claims in a policy period. Usually, a single claim can result in the absolution of your no claim bonus.
    Co-Passenger Cover In addition to the coverage provided for the owner or driver, this cover provides coverage for co-passengers in the case of a death or disability.
    Key Replacement Cover This add-on cover will cover the replacement cost of your stolen, lost or damaged car keys. You can make 2 claims during a policy term.
    Zero Depreciation Cover During a claim, you will have to bear the depreciation cost on repairs or replacements of fibre, glass, rubber, and plastic parts of the car. With this add-on cover, you don't have to bear the depreciation cost.
    Hospital Cash Cover If you are hospitalised as a result of a vehicular accident, you will receive a lump sum amount for duration of your hospitalisation, subjected to a maximum hospitalisation period at the discretion of the insurance provider.
    Ambulance Charges Cover This add on covers the ambulance transportation charge of the injured person.
    Consumables Cover This add-on provides cover for unfit consumables such as nuts, bolts, and oil.
    Invoice Cover In the case of total loss of your vehicle, you can at the least recover the Insured Declared Value (IDV) of your car.

    Car Insurance Companies in India

    “Based on IRDA Annual Report 2015-16 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 Car Insurance Companies in 2016

    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.

    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.

    Listed below are the steps by which you can reduce the cost of your car insurance policy:

    Policy renewal
    • Renew your car insurance policy to avoid paying a higher premium the following year and undergoing car inspection after policy lapse.
    No Claim Bonus (NCB)
    • Don’t make small claims for damages such as dents and scratches. If you have not made any claims in the previous year, you will be rewarded with a No Claim Bonus at the time of policy renewal. NCB will be given to the policyholder in the form of premium discounts at the time of policy renewal.
    Safety features
    • If you install security or safety devices that are approved by the Automotive Research Association of India in your car, you can get discount on your insurance premium.

    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!

    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.

    When it is time to renew your car insurance policy there are certain things that you have to take into consideration such as:

    • Multiple policies discount: If you purchase more than one policy from the same insurance provider, you may be eligible for a discount on your insurance cost.
    • Add more than one person: You can add more than one person to your car insurance cover with a co-passenger cover. Thus, save up on insurance cost for another policy.
    • No Claim Bonus: If you haven’t made a single claim the previous year, you can enjoy a No Claim Bonus in the form of a discount on insurance premium when renewing your policy.
    • Claim Settlement Ratio: Check the CSR of your insurance provider and change the insurance provider if the CSR is low or the after-sales service is bad.
    • Appropriate coverage: Check if you have appropriate coverage for your vehicle and yourself. This includes evaluating the Insured Declared Value (IDV) of your car.
    • Discounts and offers: Choose an insurance provider who offers excellent discounts on premiums and other offers such as cashless garage facility and roadside assistance.
    • Safety equipment or measures: If you install safety devices in your car, the insurance premium may be lower than usual.
    • Add-on covers: From zero depreciation cover to medical expense cover, you can customise your insurance policy with relevant add-ons.

    It’s advisable to be aware of what is included and excluded under your car insurance policy in order to avoid difficulties at the time of a claim. The below table lists the inclusions and exclusions under the auto insurance policies available in India:

    Inclusion Exclusion
    Auto insurance covers third-party damage and personal damage as a result of a road accident. Damages caused as a result of accidents occurring while driving under the influence of alcohol or drugs is not included under the policy.
    Damage caused as a result of natural disasters such as floods, earthquakes, etc. Intentional or deliberate accidents are not covered.
    Coverage against manmade disasters such as theft, riot, fire damage, etc. Illegal activities such as driving on the wrong side of the road, invalid driving licence, underage driving and such are not covered.
    Auto insurance provides cover against damage to third-party property or body. Auto insurance doesn’t cover driving outside the geographical zone, lapsed policies, regular wear and tear of car parts, electrical or mechanical damages, etc.

    While choosing a car insurance, the car owner can take certain steps to get the lowest insurance premium possible such as:

    • Members of the Automobile Association of India will receive additional discounts on premium.
    • Discounts will be offered to those who install anti-theft devices in their car for safety.
    • No Claim Bonus (NCB) will be given to the policyholder in the form of premium discounts at the time of policy renewal. Don’t make small claims such as dents and scratches. If you have not made any claims in the previous year, you will be rewarded with a No Claim Bonus at the time of policy renewal.
    • Purchase car insurance policy online to get discounts on your premium and to avoid paying distribution costs.
    • Increase the voluntary excess to lower the premium.
    • Insurance providers may reduce the premium to those owning more than one insurance policy with the same company.
    • Pay the premium on time to avoid policy lapse. Make it a point to renew your car insurance policy on time. You can begin the renewal process 2 months before the policy expiry date. Renewal process has become extremely easy and fast now with the online renewal facility provided by most reputable insurance companies.
    • Park the car in a garage to increase its safety and lower its insurance premium.
    • A smart device plugged into the OBD of the car engine can record the car owner’s driving history. The captured data can be used by the insurance provider to determine the insurance premium at the time of policy renewal. Therefore, drive carefully to keep low risk scores.
    • Nominate an experienced driver of a suitable age for the insurance policy.
    • Opt for traditional cars as sports cars attract higher insurance premiums due to the high accident-risk factor. Similarly, vintage and classic cars will have higher insurance premiums as they require a specialised insurance policy.

    The documents needed for accident claims are:

    • Duly-filled and signed claim form.
    • A copy of your vehicle’s RC.
    • A copy of your valid Driving Licence.
    • A copy of the first 2 pages of your policy document.
    • A copy of the FIR.
    • The original estimate, invoice, and payment receipt for cash and cashless garage.
    • Stamp required in the case of a company registered vehicle.

    The documents needed for theft claims are:

    • Duly-filled and signed claim form.
    • A copy of your vehicle’s RC with car keys.
    • A copy of your valid Driving Licence.
    • A copy of the first 2 pages of your policy document.
    • A copy of the FIR.
    • RTO transfer papers, and Forms 28, 29, 30, and 35.
    • Final report from the police mentioning that the vehicle cannot be located.
    • Stamp required in the case of a company registered vehicle.

    The documents needed for third-party claims are:

    • Duly-filled and signed claim form.
    • A copy of the FIR.
    • A copy of your valid Driving Licence.
    • A copy of the first 2 pages of your policy document.
    • A copy of your vehicle’s RC.
    • Stamp required in the case of a company registered vehicle.

    At the time of policy renewal, many policyholders consider changing their insurance provider under certain circumstances such as:

    • If you want to get a lower premium that is not offered by the current insurance provider.
    • If you are dissatisfied with the service provided by the current insurance provider.
    • If another insurance provider offers better discounts, add-on covers, and customised car insurance policies than your current insurance provider.
    • The Claim Settlement Ratio and after-sales service of the insurance company has to be taken into account when choosing an insurance provider.

    Auto insurance makes up almost 70% of the general insurance industry. There are several auto insurance companies competing with each other to get the attention of the customers. Compare the various insurance policies provided by top insurance companies before purchasing the one that best suits your car insurance needs. ICICI Lombard, Bajaj Allianz, Reliance Car Insurance, Tata AIG, and Bharti AXA are some of the top car insurance providers in India.

    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.

    1. Transfer of Policy (Sale of Vehicle)
    2. New RC duplicate copy /form 29-30
    3. Old policy document
    4. NOC from the last insured
    5. Transfer Charge - INR 50
    6. Duly filled new application form, collected from the company.
    7. 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.

    18. My car insurance policy application was rejected. What do I do?

    There are several insurance providers in India. You can compare various insurance policies online and apply for an insurance policy from a different provider. Third-party insurance plans are mandate for all vehicles in India. Therefore, you can purchase a third-party insurance and not have to worry about rejection.

    19. How does car insurance excess work?

    When you make an insurance claim, you will have to pay certain amount of money called the excess if the accident was caused by you. You will have a compulsory excess and a voluntary excess that will combined together to form your car insurance excess. Compulsory excess is the amount you have to pay when making a claim and voluntary excess is the amount you volunteer to pay towards the repair costs.

    20. How is car insurance cost calculated in India?

    The IDV and NCB is taken into account while calculating car insurance costs in India along with other discounts and offers.

    21. Do car insurance premiums increase after an accident claim?

    Yes, your car insurance premium is bound to rise after an accident claim. Even a single auto insurance claim will result in an increase in your premium for the following year.

    22. How does car insurance payments work?

    You have to pay a premium to keep your policy active. The company will send you a bill with due date and amount. You will be charged a service fee for the bill. You can go paperless to avoid the service charge. If you can’t make full premium payments then you can opt for monthly, quarterly or semi-annual payment modes. Some companies offer grace period to pay your premium. If the premium is not paid within the grace period then your policy will lapse.

    23. How are car insurance claims paid?

    An insurance adjuster will assess the damage of your car and estimate of the repairs will be submitted to the insurance company. In the case of a cashless garage, the company will pay the garage directly. Otherwise, the claim settlement amount will be mailed to you in the form of a cheque.

    24. How are car insurance rates calculated?

    Car insurance rates are determined based on data such as your age, gender, marital status, driving experience, driving history, geographical location, claims, mileage, and credit score.

    25. How does car insurance work after an accident?

    If you aren’t seriously injured, make note of the details of the accident. Seek medical help in the case of physical injuries to your body, co-passenger or third-party. File a police report. Contact your insurance provider, register a claim online or at the branch with a duly-filled claim form and the necessary documents to support your claim. The company will send an insurance adjuster to assess the damage and come up with an estimate of the repairs. After which, the company will follow up with the claim settlement which includes the excess you have to pay. The claim amount will be sent to you in the form of a cheque or paid to the garage directly in the case of cashless garage facility.

    26. How do car insurance companies make money?

    Insurance companies make money via strategic investment and risk management. The premiums paid by the policyholders are invested by the company in equity and money market instruments. Not every policyholder makes a claim, therefore it is a profit for the company if it doesn’t have to settle any claims.

    27. How to make car insurance claims?

    Contact your insurance provider, register a claim online or at the branch with a duly-filled claim form and necessary documents to support your claim. The company will follow up with the claim settlement which includes the excess you have to pay to obtain the claim.

    28 How do car insurance deductibles work?

    Deductibles is the amount of money you agree to pay in the case of a loss or damage. For example: If your proposed deductibles is Rs.5,000 and the cost of repairs is Rs.8,000. You will have to pay Rs.5,000 and the insurance company will pay the remaining Rs.3,000. Higher the deductibles, lower the premium.

    29. Are car insurance premiums going up?

    The IRDAI has proposed up to 50% hike in premium rates for car insurance from April 1st, 2017.

    30. Are car insurance claims public record?

    Your new insurance provider can obtain your insurance claim records from your previous insurance provider.

    31. Are car insurance claims taxable?

    As per Income Tax Act, 1961, car insurance claims are not taxable if the claim amount is obtained for damages caused due to riot, theft, floods, earthquakes, accidental fire or road accidents.

    32. Are car insurance payments tax deductible?

    Only if the car is used for business purpose will the car insurance premiums paid by you be tax deductible.

    33. Where do I get car insurance quotes?

    Car insurance quotes can be obtained online through the insurance company website.

    34. Where to check car insurance policies?

    You can check and compare car insurance policies on third-party websites like bankbazaar.com or the official websites of the insurance companies.

    35. Where is car insurance mandatory?

    As per the Motor Vehicle Act, 1988, a third-party insurance is mandatory for all running vehicles on Indian roads.

    36. What is an accident forgiveness option?

    After an at-fault accident, the accident forgiveness option ensures there is no increase in your insurance rate.

    37. Which car insurance companies are the best?

    ICICI Lombard, Bajaj Allianz, Reliance Car Insurance, Tata AIG, and Bharti AXA are some of the top car insurance providers in India.

    38. When does a car insurance policy expire?

    If your car insurance premium is not paid within the due date or provided grace period then your insurance policy will lapse. It’s advisable to renew your car insurance policy by making premium payments on time every year.

    39. Why do car insurance premiums increase every year?

    Car insurance costs rises every year depending on the company costs in policy distribution, loss in investment, fuel prices, etc. Your insurance premium can go up depending on the age and value of your car, your driving history, and the claims made.

    GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017

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    Car Insurance Online from Motor Insurance Companies

    Insurance provider
    Third Party Cover
    Cashless Network Garages
    Incurred Claim Ratio*
    Special features
    Exclusions

    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.

    Landing Previous Arrow

    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.

    Landing Previous Arrow

    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.

    Landing Previous Arrow

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

    • Vehicles without PUC Certificate cannot renew insurance: Supreme Court

      In an attempt to restrict pollution, the Supreme Court has issued directions to insurers to disallow the renewal of insurance for vehicles that are not tested for pollution. The court said that if a driver is unable to produce a Pollution Under Control (PUC) Certificate, he/she will not be allowed to renew car insurance.

      The bench also requested the Ministry of Road Transport and Highways to make sure that the fuel refilling stations in NCR (National Capital Region) have centres that perform pollution check.

      The court has granted 4 weeks time for the system to be in place.

      The bench has taken into consideration the suggestions offered by the Environment Pollution Control Authority (EPCA) to arrive at this decision.

      The court was hearing a Public Interest Litigation filed by an eminent environmentalist in 1985 that dealt with the various facets of pollution.

      17th August 2017

    • Copart, US e-auction firm, looks to expand its operations in India

      The US-based online vehicle auction company is looking to replicate its model in the Indian market. The firm already has a foothold in the country and is now targeting to open up more “yards” to tap the potential.

      The Executive Vice President of the firm, Will Franklin, mentioned that the company has been auctioning cars in Delhi on a small scale. Copart is looking at alternative options by setting up yards in other Indian cities as the demand increases.

      Currently, the company facilitates the auction of around 20 lakh vehicles each year. The firm predicts that there is an opportunity to double this figure in the next 7-10 years.

      Copart has been liaising with public and private sector insurance companies to discuss the products that will be made available in India. The probable locations of the yards have, however, not been revealed.

      The Copart India Technology Centre (CITC) will be launched shortly in Hyderabad. This facility will focus on software development, testing, and quality assurance activities.

      16th August 2017

    • IRDAI attempts to set norms for insurance cover based on telematics

      The Insurance Regulatory and Development Authority of India (IRDAI) had requested insurers to send in their assessment of the usage of the telematics technology and its pricing. IRDAI had released a draft report on August 3 for use as reference, as well. The regulator had also requested insurers to explore alternatives to the telematics technology, such as dongles, smartphones with apps, bluetooth devices, black boxes, etc.

      As per IRDAI, some of the disadvantages of using the telematics technology are:

      - If a good driver clocks up many miles with his/her insured car, he/she will still have to pay higher premium.

      - When a policyholder decides to shift to a different insurance company, there should be provision for the new insurer to take the previous driving record of that individual into account.

      - The cost of the telematics device is also expected to be a problem in India.

      - There could be issues related to data privacy.

      - Getting the device fitted in the car and not adversely impacting the vehicle’s performance would be a challenge as well.

      - The implementation of telematics would involve a cost that may be included in the insurance pricing structure.

      The exposure draft is expected give a better understanding of the product pricing and design. It is also understood that the pilot telematics projects implemented earlier would be useful for data analysis on customer driving patterns and behaviour.

      14th August 2017

    • Driving habits may soon decide the cost of your car insurance

      In the future, car insurance premium may be decided on the basis of real-time monitoring of the car owner’s driving habits, distances covered, and the usage of the car. This was recently proposed by the IRDA, and public comments have been invited for the same. Currently, the price of auto insurance in India is based on the model and make of the car, its geographical use, engine capacity, etc.

      Telematics is the use of IT and telecommunications in an integrated manner to monitor vehicles. Real-time navigation is possible using telematics, in addition to vehicle tracking and roadside assistance. Telematics insurance is also referred to as GPS car insurance, Pay-as-you-drive insurance, black box insurance, smart box insurance, and usage based insurance. The technology was successfully used in the US, UK, South Africa, and Italy. Easier installation process and the use of smartphones will make the technology cheaper in the future.

      The IRDA stated that telematics will help insurers in segmenting customers in a better manner through accurate risk assessment, and also reduces fraud.

      11th August 2017

    • GST Council decides on increasing luxury car cess

      If you have been thinking of purchasing a luxury sedan or a high-end SUV, you should make up your mind soon. The Goods and Services Tax Council has now decided to increase the cess imposed on luxury cars to 25%. Previously, the cess was 15%.

      However, the rates may not increase immediately, as such a reform would have to be introduced as an amendment to the GST compensation law.

      Under the GST regime, cars have been placed in the tax bracket of the highest degree, i.e., 28%. The GST Council has also set the maximum levy (including cess) to be at 40%.

      As per the prevailing GST regulations, small cars (up to 4 metres in length and 1,200 cc engine capacity) running on petrol are levied 1% cess. Diesel cars of the same length and up to 1,500 cc are levied 3% cess. Midsize cars, large cars, and SUVs are charged 15% cess. In a nutshell, there was a reduction in levies on some car models, while others saw an increase.

      The government is of the opinion that the industry would eventually benefit from input tax credit that should bring down the overall prices.

      10th August 2017

    • India website of Tata Nexon goes live before its launch

      Nexon, the new compact SUV from Tata Motors will make an entry into the Indian automobile scene in the coming months. It is expected to be priced between Rs.6 lakh and Rs.10 lakh. The Tata Nexon will compete against Ford Ecosport and Maruti Suzuki Vitara Brezza in the market.

      Tata Motors have made the official India website of Tata Nexon live before the actual launch of the SUV. Bookings for the Nexon are also open at Tata Motors dealerships for a token amount of Rs.11,000. There is an indication that work has commenced on the AMT variant of the Nexon that will launch in India in 2018.

      The Tata Nexon is equipped with a host of attractive features such as:

        Projector headlamps

        Split LED tail-lamps

        Daytime running LEDs

        16 inch machine cut alloy wheels

        6.5 inch touchscreen that is a part of the infotainment system

        Ceramic coloured highlights on the boot lid and window panels

        Automatic climate control feature

        Harman Kardon enabled speakers

      The Nexon will have 3 driving modes, i.e., Sport, City, and Eco that is controlled by a dial. The petrol variant of the SUV has a 1.2 litre Revotron engine that generates peak power of 108 bhp and maximum torque of 170 Nm. The diesel version has a 1.5 litre Revotorq motor that produces 108 bhp of peak power and 260 Nm of maximum torque. A 6-speed manual transmission system is present as well.

      9th August 2017

    • Crop and motor insurance will boost growth of non-life insurance sector: ICRA

      Karthik Srinivasan, Senior VP and Group Head Financial Sector Ratings of ICRA Ltd. has mentioned that crop and motor insurance are likely to spearhead the growth of the non-life insurance sector this financial year. The growth is estimated to be around 20%.

      He said that the public sector insurance companies have observed a dip in their solvency indicators due to higher number of claims and low investment earnings. Two of the public sector insurers have also reported solvency levels below the regulatory minimum.

      Further, he mentioned that the initiatives adopted by the government for improving density and penetration of insurance along with the industry’s ability to utilise technology effectively are likely to bring in more business over the long term. He also stated that health and personal accident insurance has grown at 4.2% in the financial year 2016-17, and is all set to grow at a faster pace.

      ICRA has released the documentation of its study on the country’s general insurance sector in FY2017.

      8th August 2017

    • Remarkable growth in car sales after GST implementation

      In July 2017, the automotive industry witnessed a number of exciting launches. However, the highlight of the month was the implementation of the Goods and Services Tax regime that brought in a lot of benefits to the industry.

      The GST implementation reduced the tax levied on cars; and automobile manufacturers decided to pass on these benefits to customers. The reduction in prices further triggered increased sales.

      Maruti Suzuki sales

      Maruti Suzuki India Limited sold a total of 165,346 units in July alone, observing sales growth of 20.6% when compared to the same period last year.

      The main driver of growth was the Compact segment where the Ignis and Dzire were launched. Baleno also contributed to a significant chunk of the sales last month. The Alto and Wagon R in the Mini segment also raked in a lot of profits for Maruti Suzuki through increased sales. Additionally, the Utility vehicles segment saw a significant growth as well.

      Toyota sales

      Toyota Kirloskar Motor observed a 43% hike in domestic sales, selling 17,750 units in July 2017. The Innova Crysta MPV and Fortuner were the frontrunners in sales.

      Tata Motors sales

      The sales of Tata Motors grew by 7% in July 2017, as they sold a total of 46,216 units. The sales growth was spearheaded by Tigor, Tiago, and Hexa.

      Hyundai sales

      Hyundai recorded a domestic sales figure of 43,007 units in July 2017, a definitive growth from the same time last year. The Grand i10, Creta, and Elite i20 contributed to majority of the sales.

      In addition to the above, Ford India, Mahindra and Mahindra, and Honda Cars India also observed significant sales growth last month due to price slashes post GST.

      7th August 2017

    • Skoda Karoq goes into production; may debut in India at Auto Expo 2018

      Karoq, the new compact SUV from Skoda, has gone into production at the manufacturing plant at Kvasiny, Czech Republic. The Superb luxury sedan is also produced here.

      The Skoda Karoq is a 5-seater SUV that will be first released in Europe, followed by several other countries. The Karoq is likely to be released in India mid 2018.

      The Karoq will be the first entry-level premium SUV that will compete with Jeep Compass in the segment. Although Skoda’s Yeti is in this space currently, the demand for the SUV has been diminishing.

      The new Karoq will use the MQB platform and will have an all-digital centre console. The car will also have the signature moustache grill, sleek headlamps, and wide air-dams. The inside of the SUV will be packed with features.

      The engine set may include petrol and diesel variants along with automatic and manual transmission options. There are reports that there may even be a performance-oriented version and a hybrid version later on.

      4th August 2017

    • Raghavendra Kulkarni takes charge as head of after-sales operations for Fiat India

      Fiat Chrysler Automobiles (FCA) has appointed Raghavendra Kulkarni to head its after-sales operations in India. He will be reporting directly to the President and MD of FCA India, Kevin Flynn.

      Kulkarni will be responsible for handling the operations post sales. This involves offering support to Jeep and Fiat customers across the country, expansion of Mopar workshops, and bringing about innovations in service operations. With 32 years of experience in after-sales, Kulkarni has previously worked with automobile giants like Toyota, Bentley, M&M, General Motors, and Volkswagen.

      3rd August 2017

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