Car Insurance

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.

• 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.

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

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.