Insurance is like a spare tyre. You may not require it, but not having one is not an option.
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    Smart Buying tips for your Car Insurance

    01
    Be an Add-on Smart Cookie

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

    02
    Renew On Time, Every Time

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

    03
    Avoid False Declarations

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

    04
    Discount for Security Features

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

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    Your premium for a Car insurance is determined by

    01
    Registration City

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

    02
    Make & Model

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

    03
    No Claim Bonus Percentage

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

    04
    Type of Cover Taken

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

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    Expert Tips For Cutting Your Car Insurance Costs

    01
    You Snooze, You Lose

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

    02
    Don't Sweat the Small Stuff

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

    03
    The Net's Your Best Bet

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

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    Car Insurance BYTES FROM OUR KITCHEN

    Car insurance is mandatory for all vehicles that run on Indian roads. Given the large number of vehicles that have made their way to Indian streets, the need for insurance has also grown tremendously in recent years. Although the purchase of a new car can be exciting, it is important to consider potential accidents that may occur and damage your vehicle. In such situations, a car insurance policy can come in handy as it will significantly lower the costs incurred on repairing the vehicle or replacing its parts.

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    Car Insurance

    Why You Need Car Insurance:

    Car insurance is required mainly for the following reasons:

    1. Mandatory by law: The Motor Vehicles Act of India has made it compulsory for all vehicles used in public spaces to have car insurance. A third-party liability policy is compulsory for all vehicles, but you can decide to go for a comprehensive car insurance policy too. The reason why third-party liability insurance is mandatory is that in case of accidents, any damages or losses to the property of a third party along with injuries to the said person are covered.
    2. Effective investment: Recent studies have shown that one in six car accidents take place in India. Whether you are at fault or not, these odds cannot be taken lightly. As such, having a comprehensive car insurance policy in place will ensure that your vehicle is covered for the costs incurred on repairs in case of accidents. It will also cover the policyholder for any bodily injuries. In case of collisions with other vehicles, the compensation could run into thousands of rupees, perhaps lakhs. Your car insurance policy will help you breathe easy and cover the costs for you in exchange for a nominal premium, making it a worthwhile investment.
    3. Offers peace of mind: Having a car insurance policy offers peace of mind in the sense that you can cruise on a highway or even squirm through peak traffic without having to worry about the consequences of potential accidents. Sometimes, even the tiniest of scratches to another vehicle could urge the driver to create a scene on the road and demand money for repairs. With car insurance, you can put these worries in the back seat and drive easy.
    4. Health insurance boost: Many of the car insurance policies out there provide coverage for the injuries you sustain, or the injuries sustained by your fellow passengers during an accident. If the policy you choose does not offer this cover, you can always purchase personal injury protection as an add-on cover, and it will boost your health insurance, covering things that may not be covered by your health insurance plan.
    5. Saving time: Meeting with an accident can be quite stressful. You have to get your vehicle repaired, pay for the expenses incurred on repairing the vehicle of a third party, pay for the treatment of any injuries sustained by you or a third party, making claims, finding a good garage, etc. Basically, you will have to run around a lot. But with car insurance, your stress can be significantly lower and you can also save a good amount of time as the insurance company will handle everything for you.
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    How Car Insurance Can Protect You:

    Purchasing a car insurance policy can financially protect you as well as your vehicle in times of accidents. Given the rate at which new vehicles are entering Indian roads on a daily basis, having a car insurance policy in place is crucial as there are several perils of driving in the country. Here are five ways through which you can be protected with car insurance:

    • Damages: Cars are expensive to purchase and maintain, and repairing them if they meet with accidents can be a costly affair too. There may be instance where your vehicle could sustain damages because of a third party’s negligence. Another vehicle colliding with your car, or your vehicle crashing into a wall, or your swerving in an effort to avoid a jaywalker, etc. can make you incur a significant amount of money. Having a car insurance policy will ensure that your damages are paid for by the insurance company.
    • Lower liability: It is mandatory to have third party liability car insurance in India. This policy will provide cover against the legal liability of an accident you have caused. For instance, if you crash your car into the property of a third party, the insurance will take care of the legal repercussions as well as cover the cost of repairs to the damaged property. Similarly, the legal and financial ramifications of injuring a person will also be covered by your car insurance policy, thereby lowering your liability to a significant extent.
    • Hospitalisation expenses: While some accidents are rather mild, there are some that see the driver and passengers suffer from more than just small bruises and cuts. There are times when people have fractures or other severe injuries that need them to be hospitalised. Given the rate at which medical and hospitalisation expenses are rising in India, having a car insurance policy will ensure that you don’t burn a hole in your pockets at times like these. The insurance policy will take care of these expenses and lower your financial liability.
    • Compensation for the family: The worst case scenario of a car accident is the demise of the car owner. If you are the sole breadwinner of your family, it can be extremely difficult for your spouse and kids to survive in your absence. A car insurance policy will pay for the expenses your family will incur after your death, such as funeral expenses.
    • Lower cost for online purchase: Purchasing a car insurance policy online can be cheaper as the premiums are often lower. The reason for this is that the operating costs are lower for the insurance company when transactions are done online. Since there are no commissions to be paid to brokers, the insurance company passes on the benefit of lower cost to the customer. Even renewing your policy online is simple and hassle-free in addition to being cost-effective.

    Add-On Covers for your Car Insurance Policy:

    The following are a few add-on covers that you can purchase with your car insurance policy to make it more comprehensive and effective:

    • Zero depreciation cover: One of the most widely purchased and popular add-on covers sold by car insurance companies is the zero depreciation cover. Purchasing this cover will ensure that you receive a full claim on the cost of the car parts replaced following an accident. This cover is usually provided by insurance companies only for the initial 3 years from the date on which the car was purchased. As the vehicle ages, the premium for this cover gets steeper.
    • Roadside assistance cover: In case you are faced with an emergency when driving in a remote area, the roadside assistance cover will provide you with access to services that can fix your problems as soon as possible. Whether it is a flat tire or technical issues or an empty gas tank, this cover will ensure that help is sent to you immediately so that you aren’t stranded for too long. Through this cover not only can you get fuel assistance, but also accommodation and travel benefits if you are stuck in a remote area.
    • Personal accident cover: A personal accident cover provides coverage to the owner of a car in case of accidents. If the owner of the car is driving it and meets with an accident, 100% of the claim amount will be provided to him/her in case of irreparable damage to limbs or death. The problem with this cover, however, is that it does not cover drivers who do not own the vehicles that are subject to accidents. For instance, a cab driver working for Uber or Ola with the company’s vehicle will not be eligible for this cover.
    • No-Claim Bonus: This cover is becoming increasingly popular among car owners in India. As the title suggests, a no-claim bonus is a reward for policyholders who do not make any insurance claims over the course of a policy year. Many people in the country tend to renew their car insurance policies on an annual basis without making any claims. In such cases, this cover rewards them by providing discounts of up to 50% on the premium payment for the following year.
    • Engine and electronic circuit cover: This add-on cover provides protection to the electronic circuit and the engine of the vehicle. In case of flooding, the engine can fail if you keep trying to run it, and this damage is not covered by regular car insurance policies. This cover can be quite effective when it comes to avoiding unnecessary repair costs, especially when there are damages to the electronic circuits. Considering the fact that water logging during the rainy season is quite common in most Indian cities, this cover can provide added protection and ensure that your electronic circuit and engine are protected.
    • Loss of belongings: This add-on cover allows you to report claims because of loss or theft of your personal belongings. In case you leave your laptop or some other expensive equipment in your locked car and it gets stolen, this cover will reimburse you for the loss at least partly if not fully.
    • Daily cash allowance: In case your vehicle remains in a garage for about three to four days, the daily cash allowance cover will pay for your transportation costs. However, this cover is not too popular among Indian car owners due to the fact that repairs usually take just a day or two.
    • Key replacement: In case you misplace or lose your car keys, having a key replacement cover will ensure that you are reimbursed for the cost of replacing the key. However, insurance companies do not reimburse the whole amount needed to replace the key.

    It is very simple to make your car insurance policy stronger and have comprehensive coverage in difficult times. It is essential to consider the aforementioned covers as they will not only come to your rescue when needed, but will also lower the costs you would otherwise incur if you did not have them. However, not all add-on covers may be beneficial for you, so it is advised that you go through them carefully and pick the ones that could come in handy.

    How to Purchase Car Insurance:

    Car insurance can be purchased through agents, dealers, or brokers.

    Agents

    Insurance agents work with insurance companies and are paid by the company to sell their products to customers. As such, agents are experts so far as the insurance products offered by their employers are concerned. They have the ability and the expertise to guide you and help you choose the policy that best suits your needs. If you wish to change your insurance company, you should find another insurance agent who works with the company from which you wish to purchase insurance.

    Dealers

    Automobile dealers sell vehicles to customers, and these vehicles are sold with third-party liability insurance. Generally, dealers have tie-ups with insurance companies and may not be experts regarding the insurance policies. They take care of the paperwork associated with availing a third-party liability insurance policy sold by the dealership, but do not have adequate knowledge to guide you to find the policy that best suits your requirements.

    Brokers

    Brokers can either be individuals or companies that have a license from the Insurance Regulatory and Development Authority of India to sell insurance products. The products sold by brokers can be from various insurance companies as they have the expertise required to help you make an informed choice. They also offer assistance in after-sales service. Brokers can help you compare various policies in an effort to find the best one for you. Brokers can also assist you through the claim settlement process.

    Inclusions and Exclusions in Car Insurance:

    The cover offered by car insurance policies varies from insurer to insurer, but the most common inclusions and exclusions in car insurance are as follows:

    Inclusions in Car Insurance:

    • Cover for damages to your vehicle

    In case you meet with an accident and there are damages to your vehicle or the vehicle or property of a third party, you will have to intimate the insurance company about the same at the earliest in order to claim insurance. In such a situation, the insurance company will provide towing services so that your vehicle can be taken to a Network Garage after an assessing officer is sent to inspect your vehicle and evaluate the estimated charges that you can claim.

    • Cover for damages caused by natural calamities

    In case of natural calamities such as floods, fire, earthquakes, hurricanes, landslides, etc., a comprehensive car insurance policy will cover the costs of repairs for you.

    • Personal accident cover

    In case you incur any injuries due to an accident, a comprehensive car insurance policy will not only cover the costs to repair your vehicle, but will also cover the cost of hospitalisation and pay for your treatments, thereby significantly lowering your financial burden at such times.

    • Cover for damages incurred due to man-made disasters

    In case of man-made hazards such as terrorism, riots, strikes, etc., having a comprehensive car insurance policy will come in handy as it will cover the cost of repairs.

    • Theft

    If your car gets stolen, having a comprehensive car insurance policy in place will allow you to make a claim that will basically provide you with an amount equivalent to the Insured Declared Value of your car.

    • Damages to property

    If you meet with an accident and cause damage to another person or property, a third-party liability insurance plan will ensure that you need not incur any costs on the treatment or repairs to the person or property. Your policy will take care of the costs.

    Exclusions in Car Insurance:

    The following are the general exclusions in car insurance:

    • Damages to vehicle when it was being used for illegal purposes.
    • Accidents that are deemed fraudulent by the insurer.
    • Damages incurred by the vehicle when it was being driven by someone who was under the influence of alcohol or drugs.
    • Damages incurred by the vehicle when it was being driven by someone who does not have a valid driving license.
    • Damages incurred by the vehicle when it was being driven by someone who has not attained the legal driving age.
    • Damages incurred by the vehicle when the driver was breaking traffic rules.
    • Wilful damages to the vehicle caused by the owner.
    • Damages incurred by the vehicle when the car insurance policy had expired.
    • Damages incurred by the car due to oil leakage.

    Each policy has its own list of exclusions that you are expected to read carefully at the time of purchasing one.

    Types of Car Insurance Policies:

    The two kinds of car insurance policies available to car owners in India include third-party liability and comprehensive insurance.

    Third-party Car Insurance:

    Third-party car insurance is a type of car insurance policy that covers the policyholder against legal liabilities that arise to a third party in case of an accident. If you are at fault in an accident and injuries are caused to a third party, or if their property is damaged, you will be covered by your third-party car insurance policy. Third-party liability is compulsory under the Motor Vehicles Act, 1988 for those who purchase, own, or drive a motor vehicle in India.

    Benefits of Purchasing Third-party Car Insurance:

    The following are the benefits of purchasing third-party car insurance:

    • Offers financial assistance and legal cover

    The legal liability of the injured third party, including disability and death, is covered by a third-party car insurance policy. Even damages or losses to the property or vehicle of a third party are covered by a third-party car insurance policy. It basically takes care of the financial as well as legal burdens of the policyholder in such situations.

    • Provides peace of mind

    In case you meet with an accident and a third party incurs major injuries to his/her body in addition to damages to his/her vehicle, you will be burdened with legal as well as financial implications. The expenses you incur at times like these can be quite high. However, having a third-party car insurance policy in place will offer you peace of mind and take care of the legal and financial implications for you.

    • Simple and Quick Procurement Process

    Third-party car insurance policies are easy to procure as well as renew. Thanks to advancements in technology, car insurance can now be purchased online from the comfort of your home or workplace. The process to purchase a policy is relatively simple and quick, thus ensuring that you do not spend much time or effort to protect yourself in case of emergencies.

    • Cost-effective

    Third-party car insurance policies are quite affordable. You can either purchase a third-party car insurance plan as a part of the main plan or as an add-on. Not only is it cost-effective, but also very beneficial when you consider the premiums and financial costs associated with it.

    • Easily available

    While some kind of insurance policies require you to visit a branch of the insurance company to purchase a plan, third-party car insurance can be purchased online at any time and from anywhere. Mobility and easy accessibility have made car insurance plans so much easier to purchase in India.

    Comprehensive Car Insurance:

    If you wish to get the best kind of coverage for your vehicle, a comprehensive car insurance policy is what you need. As the term suggests, the policy offers comprehensive protection. In comparison with third-party liability car insurance, a comprehensive car insurance policy not only covers the costs incurred on loss or damages to a third party’s property, but also covers damages to your own vehicle in case of an accident. It also offers a range of extensive services that cannot be availed through a third-party liability car insurance policy.

    A comprehensive car insurance policy will cover damages caused by fire, vandalism, theft, severe weather, and natural disasters. It also covers damages to your car caused by falling objects like the branches of trees.

    Benefits of Purchasing Comprehensive Car Insurance:

    The following are the main benefits of purchasing comprehensive car insurance for your vehicle:

    • Highest level of protection

    A comprehensive car insurance policy offers the highest level of protection. Unlike third-party liability insurance that only covers damages to a third party and his/her property, a comprehensive car insurance policy will cover damages to your body, vehicle, and property as well as third-party liabilities. If you meet with an accident and are covered under a comprehensive car insurance policy, you can rest assured that any injuries you sustain or damages to your vehicle will be taken care of by the insurance company.

    • Easier to replace your vehicle if it gets stolen

    In case your car ever gets stolen, your insurance company will reimburse you with the Insured Declared Value of the vehicle if you are covered under a comprehensive car insurance policy. If you had availed a loan to purchase the vehicle that got stolen, the insurance company will repay the remaining amount to the bank and you can apply for a new loan to purchase a new car with a clean slate.

    • Cover for damages caused by natural disasters

    The weather is often unpredictable, and if you reside in coastal areas in India, there are chances that your vehicle may be affected due to storms, cyclones, heavy rains, etc. In times like these, having a comprehensive car insurance policy in place will ensure that such damages are covered by the insurance company.

    • Cover for damages caused by man-made disasters

    In case there are riots or protests in a location where your car was parked, your vehicle may be damaged due to vandalism. Whether the damage is just a few scratches caused by vandals or a broken windshield, a comprehensive car insurance policy will ensure that the insurance company will take care of these costs and you won’t have to bear any out-of-pocket expenses.

    • Lower legal liability

    In case you meet with an accident and there are damages or injuries to the properties or lives of third parties, a comprehensive car insurance policy will lower your legal liability as well as your financial burden and take care of all the costs. Having a comprehensive car insurance policy will offer you peace of mind in such situations.

    Car Insurance Claim Process:

    Car insurance is mandatory in India and is among the most commonly bought insurance products. The reason for an increasing number of people purchasing car insurance is the rising population which has a higher disposable income, thereby resulting in a higher number of cars on Indian roads. However, there are times where policyholders have no clue regarding the car insurance claim process. Here is a step-by-step guide to go about filing your car insurance claims:

    In case of damages to your own vehicle:

    1. As soon as you meet with an accident or notice damages to your vehicle, you will have to call the insurance company and intimate them about the damage. You will also have to furnish a duly filled-in claim form in addition to the necessary documents required by the insurer. The forms can be downloaded from the website of your insurance company.
    2. A surveyor will be sent by the insurance company to assess the damages sustained by your vehicle. A report will be prepared by the surveyor and passed on to the insurance company. A copy will also be sent to you.
    3. In case of severe damages that require immediate repairs, the surveyor will arrive at the location of the accident as soon as possible, and your car can be sent for repairs after the surveyor has sent his report to the insurer.
    4. Following the completion of repairs to your vehicle, the duly signed forms and documents must be taken from the garage and given to the surveyor who will send them to the insurer.
    5. If the documents and the claim are approved by the insurance company, your bills will be reimbursed by the company.

    In case of damages to third-party claims:

    1. In case you receive a legal notice from a third party, claiming reimbursements for damages caused by you, you will have to inform your insurer about the same. It is essential to speak to your insurer before communicating with the third party or making any out-of-court settlements or financial commitments to them.
    2. A copy of the legal notice must be sent to your insurance company.
    3. Copies of the FIR, your driving license, and the RC book of your vehicle must be submitted to the insurance company.
    4. The documents will then be assessed by the insurance company and the details of the accident will be assessed and if they are satisfactory, the insurance company will appoint a lawyer for your case.
    5. In case the court says that you will have to cover the damages caused to the third party, the insurer will make the payment to the third party.

    In case of stolen vehicles:

    1. If your car is stolen you will have to lodge an FIR by filing your complaint at the nearest police station.
    2. A copy of the FIR must be submitted to the insurance company.
    3. After the final police report is sent to you, a copy must be taken and sent to your insurance company.
    4. An investigator will be assigned by the insurance company with whom you will have to cooperate.
    5. The claim will then be sent to the insurance company for approval.
    6. Once your claim has been approved by the insurance company, the RC book of the stolen vehicle will have to be sent to your insurer. The owner’s name will be changed to the name of the insurance company.
    7. The duplicate keys of the vehicle will then have to be submitted to the insurance company along with a letter of subrogation. A notarised indemnity on a stamp paper must also be submitted to the insurance company.
    8. Following the completion of the formalities, the claim amount will be disbursed by the insurance company.

    Documents and Details Required for Filing Car Insurance Claims:

    The following are the details/documents you will be required to send to your insurer when making a claim:

    • Name of the insured individual
    • Policy number
    • Contact number
    • Date and time of the accident
    • Number of the vehicle
    • Make and model of the car
    • Location and extent of loss
    • Name of the garage along with contact information
    • Brief description of the accident

    In case of accident damages, the following documents will be required to make a claim:

    • Proof of insurance – cover note or policy copy
    • Registration book copy and original tax receipt
    • Driving license copy along with the original (of the individual driving the car at the time of the accident)
    • FIR or police panchanama (for bodily injuries or death or damage to third party and/or his/her property)
    • Estimate of the cost of repair
    • Payment receipts and repair bills following the completion of repairs

    In case of theft of your car, the following documents will be required to make a claim:

    • Original policy document or certificate
    • Registration book along with theft endorsement from the concerned Regional Transport Office plus tax payment receipt
    • Details of the insurance policy, such as policy number, period of insurance, and the insurance company
    • All sets of service booklets, keys, and warranty cards
    • FIR or police panchanama along with JMFC report or final investigation report
    • Acknowledged copy of letter addressed to the Regional Transport Office intimating theft

    Top Five Car Insurance Companies in India:

    If you wish to purchase a new car, you must also look at car insurance. It is essential to pick a reputed company in order to have a hassle-free experience when making claims. The following are the top five car insurance companies in India:

    ICICI Lombard General Insurance Company Limited

    One of the most successful and popular insurance companies in the private sector, ICICI Lombard General Insurance Company Limited was incorporated as a result of a merger with Fairfax Financial Holdings Limited. The company offers general insurance, investment management services, reinsurance, and insurance claims management.

    The car insurance offered by ICICI Lombard General Insurance Company Limited covers loss or damage to your car as a result of natural calamities as well as man-made calamities and provides personal accident cover and coverage for third-party liability. The company has an impressive portfolio of insurance products, including two-wheeler insurance, car insurance, international travel insurance, home insurance, health insurance, and weather insurance. The company has gained a lot of customers due to their simple and hassle-free claim procedure.

    United India Insurance Company Limited

    Nationalised in 1972, the Government of India owns United India Insurance Company Limited. It is the second biggest insurance company in India, with premium worth more than Rs.16,000 crore. The company offers a variety of insurance products including insurance for private cars, commercial vehicles, and two-wheelers. You can also get discounts on used vehicles and anti-theft devices within the premises of the insured. Customers are provided with the freedom to avail a no-claim bonus which ranges from 20% to 50% of the premium based on the number of claim-free years.

    HDFC Ergo General Insurance Company Limited

    HDFC Ergo General Insurance Company Limited is based out of Germany and was launched by HDFC Limited and ERGO International. HDFC Ergo General Insurance Company Limited has a variety of insurance products on its portfolio, including health insurance, two-wheeler insurance, car insurance, health insurance, liability-only policies, and commercial vehicle insurance.

    A car insurance policy from HDFC Ergo General Insurance Company Limited provides cover for damages caused as a result of accidents, natural disasters, man-made calamities, terrorism, etc. HDFC Ergo General Insurance Company Limited has branches in 91 cities across India, making it easy for you to locate a branch when needed.

    Tata AIG General Insurance Company Limited

    Established in 2000 by American International Group and the Tata Group, Tata AIG General Insurance Company Limited offers insurance products to individuals as well as corporates. The insurance products offered by Tata AIG General Insurance Company Limited include home/property insurance, automobile insurance, health insurance, travel insurance, marine insurance, etc. The company has a large network of brokers, agents, digital marketing, worksite, and telemarketing agents who distribute its products.

    The Oriental Insurance Company Limited

    Established in 1947, the Oriental Insurance Company Limited is a the leading general insurance company in India’s public sector. The company is headquartered in New Delhi, with branches in Dubai, Nepal, and Kuwait. The Oriental Insurance Company Limited offers car insurance that provides cover for damages sustained in case of accidents or man-made or natural disasters as well as for the theft of your vehicle. The company has about 1800 branches in the country, and offers over 170 general insurance products.

    Points to Keep in Mind When Purchasing Car Insurance:

    Most people who purchase car insurance do so mainly as a formality because it is compulsory to have third-party liability insurance in India. More often than not, the main factor that people consider when purchasing car insurance in India is the cost of the premiums. It is important to note that a policy with a low premium may not provide adequate cover and you may end up spending money out of your own pockets in times of accidents.

    When purchasing a car insurance policy, you are advised to compare different plans offered by different companies along with various parameters to ensure that you purchase a plan that best suits your insurance requirements. Here are some of the factors to keep in mind when purchasing car insurance:

    • Do your research

    If you are purchasing car insurance for the first time, you need to know all the important information regarding the various insurance plans available in the market. You will have to compare a number of plans to find the one that best suits your insurance needs. You will have to consider various parameters such as the cost of premium, the claim settlement ratio of the company, the coverage provided, additional benefits, etc.

    • Claims

    The Claim Settlement Ratio of an insurance company must be checked to ensure that you have a hassle-free claims process. The Claim Settlement Ratio is basically the number of claims settled by the insurer divided by the number of claims reported plus claims remaining at the start of the year minus claims remaining at the completion of the year. Another thing to check is the Claims Repudiation Ratio, which is basically the rejected claims divided by the total claims. You must also look for the Claims Pending Ratio, which is essentially the outstanding claims divided by the total claims.

    Information regarding claims helps you analyse the history of claims of the insurance company along with its claims handling process. It is important to note that the Claim Settlement Ratio of companies that are relatively new will be lower. Claims data offers crucial information and enables customers to make informed decisions when selecting an insurer. In case you have shortlisted two or three insurance companies that offer similar benefits, analysing their claims data can help you settle on one.

    • Third-party insurance is compulsory

    The Indian Motor Vehicles Act and the Indian Road Safety Act have made third-party insurance mandatory. If you are purchasing a car for the very first time, the auto-dealer will offer you third-party insurance. If not, you will have to purchase it from a broker or insurance company. Usually, the car dealer provides the insurance along with the vehicle and premium costs are added to the purchase price of the vehicle.

    • Understand what third-party insurance covers

    When you purchase a third-party insurance policy, you will be covered for damages caused to the vehicle or property of third parties. Whether you are the one who is driving the vehicle, or a friend, or a family member, or a hired driver, having a third-party insurance policy will provide cover for claims made by third parties for damage to their vehicle, bodily injuries, disability, or death. A third party insurance policy, however, does not cover damage to you or your vehicle.

    • Understand the policy document

    When you purchase car insurance, you must go through the policy document and understand the following:

      • Who is covered
      • How much coverage is provided
      • What are the exclusions, inclusions, and limitations of the plan
      • When does the coverage start and end
      • What is the premium applicable to your plan
      • How to report losses or file claims
    • Comprehensive cover offers greater protection

    A comprehensive car insurance policy will provide greater coverage in comparison with a third-party insurance plan in case of accidents. Not only will it protect you and your vehicle, but will also take care of the claims made by third parties for damages caused to their body or vehicle. The premium charged on comprehensive car insurance policies is slightly higher in comparison with third-party policies, but it is worth going for a comprehensive policy considering the benefits on offer.

    • Additional cover must be considered for your risk profile

    Purchasing add-on covers for your car insurance policy will provide you with sufficient cover against various situations in case of accidents. Your risk profile must be taken into consideration when looking for add-on covers. For instance, if you generally drive late at night or long distances, a roadside assistance cover could come in handy as you will have access to assistance even during odd hours if you are stranded in a deserted area.

    • Periodical evaluation

    Your car insurance plan will change with your life changes. Experts say that you must evaluate your insurance plan on an annual basis to know if you have adequate coverage or you need more. The following are the events during which you can consider altering your insurance plan:

      • Marriage
      • Divorce
      • Start of a family
      • Making big purchases such as a house or a car
      • Changing jobs or becoming self-employed
      • Purchasing or selling a business
      • Substantial increase or decrease in income
      • Start of child’s college education
      • When aging parents become dependent on you
      • Retirement
    • Credit score

    The credit-based insurance score of an individual can determine the premium rate applicable to him/her. The following are the factors that will determine your credit score in this aspect:

    • The payment history, delinquencies, and late payments
    • The length of the credit history
    • The number and types of credits such as credit cards, loans, etc.
    • Personal accident cover must be considered

    A personal accident cover will ensure you are covered against disabilities or physical losses during accidents. The personal accident cover can be availed for all the passengers in your car depending on the vehicle’s seating capacity. The benefits of purchasing this cover is that it provides global coverage and covers all legal expenses. It is also customisable based on the needs of the individual. Moreover, the claim process is certified and simple, and the premiums are relatively low. Customers don’t even need to take medical tests or provide any documentation for this cover.

    • Voluntary deductibles must be considered

    Voluntary deductibles are a great way to reduce your insurance premium. By going for this option, the cost of repairs during accidents will be shared between you and the insurer, thus meaning that you will have to pay a lower premium amount. It is important to note that this feature can only be availed in comprehensive car insurance plans.

    • Assess dealer insurance

    If you are purchasing a car for the very first time, your dealer will offer an insurance package with it. The package may not be the best suited to your insurance needs and neither would it be the least expensive option. You need to go compare quotes of various insurance policies along with the features and benefits on offer if you wish to find the option that is best suited to you.

    • Understand your car’s Insured Declared Value

    Your vehicle’s Insured Declared Value and your premiums are interlinked. The Insured Declared Value of your vehicle is the maximum amount that can be claimed under your car insurance plan. For instance, the IDV of a new car will be higher in comparison with the IDV of a used car. Knowing about the IDV of your vehicle will help you better understand your premiums.

    • The cubic capacity of your car and the location are linked to your premium

    Your vehicle’s engine’s cubic capacity and your location are taken into account when your insurance premiums are calculated. If you live in a metropolitan city, you will find that the insurance premium for a vehicle of a certain make and model will be higher than the insurance premium for a vehicle of the same make and model in a rural or semi-urban area.

    • Understanding the No-Claim Bonus

    This is an add-on cover that can be purchased to supplement your car insurance policy. In case you do not make any claims over the course of a year, the No-Claim Bonus will offer benefits such as reduction in your premium amount. The bonus can be as high as 50% depending on the number of claim-free years.

    • Car customisation

    It is important to note that coverage is not offered for some vehicle parts under a regular car insurance policy. Engine parts or other mechanical parts may not be covered after they are modified. Since standard insurance policies do not cover all customised parts, it is essential to check with your insurance company before your customise your car.

    • Consider cashless claim options

    Look for insurance companies and plans that offer the cashless claims facility as it comes in handy during times of emergencies. You won’t have to run around for cash as the policy will take care of the costs in case of accidents. However, the cashless claims facility should not be the only factor based on which you choose a car insurance policy, but if you find one with this option, it can be a big plus.

    • Customer service

    Most people tend to purchase car insurance policies that are offered for relatively low costs without even considering the company’s customer service. When you purchase a car insurance policy, the customer support offered by the company is crucial to ensure that you don’t have any hassles in the future. It is important to go through the reviews posted by other people who have the same policy as they will tell you how efficient the company is in resolving queries and potential issues you may face. Look for companies that have a 24x7 customer care facility as it will be easy for you to reach them at any time in case of emergencies.

    Keeping these points in mind when selecting an insurance policy can ensure that you pick the one that best suits your needs and you have minimal problems in terms of making claims or seeking assistance.

    How the Installation of Anti-Theft Devices can Affect Car Insurance Premiums:

    Car thefts in India have been increasing with the rise in the number of new vehicles, therefore making it essential to ensure that your car is protected at all times. One of the easiest ways to do so is through the installation of anti-theft devices. Not only will these devices increase your vehicle’s security, but will also reduce your insurance premium. Here are the 10 best anti-theft devices that can lower your car insurance premiums:

    1. Steering wheel locks: While professional thieves have the ability to cut the steering wheel before slipping the lock off and driving away with your vehicle, amateur thieves can be strongly deterred by steering wheel locks. These locks essentially lock the steering wheel, making it difficult for most car thieves to steal your car.
    2. Ignition kill switches: These devices are among the cheapest and most effective ways to keep car thieves at bay. The installation of an ignition kill switch in a remote location in your car will ensure that your car does not start, thereby ensuring its safety against car thieves.
    3. Flashboard locks: These locks are designed in a manner such that the gas pedal and brakes of your car are disabled. Their working mechanism is fairly simple and similar to that of steering wheel locks. They are also relatively cheap to purchase and install and still effective when it comes to thwarting car thieves.
    4. Armoured collars: Armoured collars are basically contraptions that are wrapped around the steering column of your vehicle to prevent the hot-wiring of your car by car thieves. By installing this device, you will secure the wiring in your vehicle’s steering column, thereby preventing thieves from driving away with your car. While some armoured columns are permanent, others work on an electronic mechanism that requires continuous activation.
    5. Gearshift locks: These devices are quite inexpensive but very effective when it comes to keeping thieves away. They can be used with automatic as well as standard transmissions but can be a bit difficult to install. They are essentially mechanisms that prevent thieves from changing gears, which makes it very difficult for them to drive your vehicle too far without attracting attention on the streets.
    6. Window etching: Having your Vehicle Identification Number imprinted on your window screen will make your car easily identifiable and traceable, thereby deterring car thieves from stealing your vehicle.
    7. Hood locks: It is very easy to install hood locks and keep thieves from gaining any sort of access to your starter, security system, or battery, thereby increasing the security of your vehicle.
    8. Audio alarms: Audio alarms can be a bit annoying when they go off, but they are necessary to ensure you are aware when an intruder touches your vehicle. Thieves are known to be put off by these devices, and they are also quite cheap to install, but effective to increase the security of your car.
    9. Vehicle tracking system: Vehicle tracking systems work in a similar manner to GPS systems. In case your car gets stolen, the system will alert the police about the location of the vehicle so that it is recovered quickly.
    10. Tire locks: Tire locks are usually used by parking monitors to clamp vehicles that are parked illegally. Although they are quite bulky and somewhat expensive to purchase, the very sight of them is bound to put off a car thief.

    How do Anti-Theft Devices Lower Your Insurance Premium?

    Installing anti-theft devices in your car put you in good light so far as insurance companies are concerned. You will be considered as a responsible car owner as installing these devices means that you have done your best to increase the security of your vehicle. As such, car owners with anti-theft devices seldom report the theft of their vehicles, which means that car insurance companies have lower costs to incur. Since you bring down the liability of the insurance company, you will be rewarded in the form of attractive discounts on your car insurance premium.

    Factors That Affect Your Car Insurance Premium:

    The following are the factors that affect your car insurance premiums:

    • Policy type: When you purchase a car insurance policy, you can either go for a comprehensive plan or a third-party plan. The Motor Vehicles Act has made it mandatory for all car owners to purchase third-party car insurance as it protects any damage to property, injuries to bodies, or accidental death of third parties such as pedestrians, passengers, or owners of another vehicle as a result of an accident in which your vehicle is involved.

    Comprehensive policies, on the other hand, cover damages to your vehicle as well as third parties. Since a comprehensive car insurance plan offers greater coverage, the premium payment associated with it is higher in comparison with third party policies.

    • Make and model of your car: The “make” of a vehicle refers to the manufacturer from whom the car is purchased, while the “model” refers to one of the various cars manufactured by the same manufacturer. Each model can have different “variants” too. For instance, the make of a car can be Maruti Suzuki, and the model can be the Dzire LXI. A variant can be Maruti Suzuki Dzire LXI or Maruti Suzuki Dzire VXI. The premium for each variant can be different even if they were made by the same manufacturer.
    • Fuel type: The kind of fuel you use to run your vehicle also affects car insurance premiums. Premium payments are different for diesel, petrol, and CNG variants. For instance, third-party premiums for CNG are Rs.60 + taxes more in comparison with the petrol variant. The premiums for a comprehensive policy, on the other hand, will depend on where the CNG kit is placed – externally or internally. Different insurers charge different premiums for different variants.
    • Registration area: The Regional Transport Office (RTO) where your car is registered will have an impact on the premium. Insurance premiums in India are segregated depending upon the location in which the vehicle is registered. They are categorised as Zone A and Zone B. Zone A has cities such as Bangalore, Mumbai, Delhi, Chennai, Pune, Kolkata, Ahmedabad, and Hyderabad. All the other towns and cities fall under Zone B. The premium will vary based on the location where your vehicle was registered. If your car was registered in Zone A, your premiums may be slightly higher.
    • Cubic capacity of your vehicle’s engine: The cubic capacity of the engine of your vehicle will determine the premium applicable to your car insurance policy. The higher the capacity of your car’s engine, the higher your premiums.
    • Age of your vehicle: The age of your vehicle will also play a role in determining your car insurance premium. As the years go by, your vehicle ages and its Insured Declared Value reduces due to depreciation. Insurance companies offer a lower Insured Declared Value for aged vehicles, and therefore the premiums for such cars is lower. Brand new vehicles, on the other hand, have a higher Insured Declared Value, and the premiums for these vehicles are therefore higher.
    • Age of the policyholder: Some of the insurance companies offer discounts to those who are of a certain age. For example, you can get a discount on your premium if you are an experienced driver who is between 35 and 45 years of age.
    • Occupation of the policyholder: The Insurance Regulatory and Development Authority of India offers discounts to people in certain professions, such as teachers, military personnel, government employees, chartered accountants, etc. In order to avail these discounts, you will have to submit an original copy of the supporting documents when you purchase the policy.
    • Driving history: Additional discounts on your premiums can be availed if no claims are lodged over the course of the policy period. Such discounts can be availed under the No Claim Bonus. Since this option is cumulative, the discounts you will be eligible for will be higher with each passing claim-free year. You will not be eligible for this discount if you lodge a claim during the previous year.
    • Driving location: If you drive in or are located in an accident prone zone, the premium of your car insurance policy can be higher. Similarly, residing in a metropolitan city or in an area where there is heavy traffic could see the insurance company charge a slightly higher premium.
    • Installation of anti-theft devices: The installation of anti-theft devices that are approved by the Automotive Research Association of India (ARAI) can lower your car insurance premiums. The discounts offered on the installation of these devices are usually 2.5% of the premium amount, subject to a maximum of Rs.500.
    • Choosing voluntary deductibles: Discounts on your car insurance premium can also be availed by opting for a voluntary deductible. In case you make a claim, you will have to bear a certain amount from your own pocket while the insurer will bear the rest. Opting for a voluntary deductible will lower your premiums as you will also be paying for damages to your vehicle in case of an accident.

    How to Renew Your Car Insurance Policy:

    Thanks to advancements in technology, the internet has made it relatively easy to complete a number of tasks that would otherwise take a long time. Be it paying your utility bills or buying household items, you can do almost anything online. The insurance and banking sector has also taken well to the use of technology, and you can now renew your car insurance policy in a simple and hassle-free manner online. All you need is a laptop and an internet connection.

    In this day and age, all major car insurance companies have their own websites where they allow customers to purchase and renew their car insurance policies. You no longer have to visit a branch of the insurance company to have your problems resolved. You can simply visit their website, browse and compare policies, calculate your premiums, and purchase or renew your plan from the comfort of your home or office.

    Here are some important car insurance policy renewal tips:

    • The renewal date: Insurance companies tend to send reminders to their customers via email or SMS, letting them know that their car insurance plans are set to expire and prompting them to renew the same. However, it is easy to miss an email or SMS, so it is advised that you keep a track of the date and perhaps set a reminder on your phone to ensure that you remember to renew your policy on time.
    • Policy details: Instead of visiting a branch of the insurance company, you can simply visit the website of your insurer, select the ‘Policy Renewal’ link, choose whether you are an ‘Existing Customer’ or a ‘New Customer’ and enter the necessary details to renew your car insurance policy online.
    • Follow directions: When you are filling in your policy details, the insurer offers instructions that need to be followed properly. After you fill in your details, the insurance company will require a few seconds after which your information will be processed and you can continue with the next step, which is basically making the payment.
    • Payment: Paying for your car insurance policy renewal online is fairly simple. Almost all insurance companies accept debit and credit cards, so all you have to do is enter your payment information and the amount will be debited immediately from your bank account.
    • Acknowledgment: After you have made the payment for your car insurance policy renewal online, the insurance company will assess and verify your details after which you will receive an acknowledgment showing that you have paid the amount to renew your car insurance policy.

    Driving around without a valid car insurance policy can have legal implications. It means that you are putting it at further risk. In case you meet with an accident when driving around in an uninsured vehicle, you will be held responsible for any damages to third parties whether it is your fault or not. Considering how simple it is to renew your car insurance policy online, all you have to do is remember the date on which your policy is due for renewal and complete the task in a matter of minutes.  

    If you are not fully satisfied with your current car insurance policy, you can always go for another one when the first one expires. There are several insurers that offer car insurance for affordable prices. Make sure you compare multiple plans for the features and benefits on offer to find the one that best suits your insurance needs.

    Factors to Consider when Renewing your Car Insurance Policy:

    There are a few things that you must keep in mind at the time of renewing your car insurance policy. They are as follows:

    • Discount on multiple plans: Most insurance companies offer discounts to customers who purchase multiple insurance policies from them. Keeping this in mind will help lower your premiums.
    • Add more co-passengers: When you take a car insurance policy, you will have to add people for the co-passenger cover. Adding more people will help in saving insurance costs for other plans.
    • No-Claim Bonus: If your policy is set to expire, remember to consider the no-claim bonus. If you went through the whole of the previous policy year without lodging any claims, you will be eligible for a discount on your premium, provided you had opted for the aforementioned add-on cover.
    • Claim settlement ratio: If you have ever met with an accident and made a claim, you will know how your insurance company goes about the claim settlement process. You will even have a good idea about their after-sales service. If you were dissatisfied with the claims process or the after-sales services of your insurer, don’t think twice before changing your insurance company.
    • The right coverage: When renewing your car insurance policy, you need to check whether or not you have the right coverage for yourself as well as your car. Make sure that your vehicle’s Insured Declared Value is evaluated before your policy is renewed.
    • Offers and discounts: If you wish to make the most of your insurance policy, your premiums must not be too high. You can always consider insurance companies that offer offers and discounts as there are plenty of them out there. For instance, some companies offer benefits such as roadside assistance and cashless garage facility for nominal prices. Choosing such companies will lower your premium amount.
    • Safety measures: Before your car insurance policy expires, consider the installation of safety devices such as door lock or window locks as installing these devices will lower your premium when you renew your car insurance policy online.
    • Add-on covers: When you renew your car insurance plan, consider going for add-on covers that offer greater coverage. Covers such as medical expense cover and zero depreciation cover will ensure that your vehicle has comprehensive coverage.

    You should never be in a situation where your car insurance has expired. It is important to ensure that your policy is renewed before the due date approaches. If you do not renew your car insurance plan on time, you will be faced with risks as well as penalties. For instance, you will not be covered for any damages to your vehicle once its insurance lapses. Even if your car catches fire or gets stolen, you will not receive any financial assistance, thereby making you incur significant losses that could burn a hole in your pockets. In case your policy expires, get in touch with your agent immediately. Also, make sure that you do not use your car when it is not insured as you could easily drive into trouble.

     

    Car Insurance FAQ's:

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

    ANS: 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.

    ANS: 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.

    ANS: 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.

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

    ANS:Copy of the Driving Licence of the individual driving the vehicle. Insurance Certificate.

    Copy of the vehicle's Registration Certificate.

    ‘Pollution Under Control' Certificate.

    ANS: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.

    ANS: 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.

    ANS: 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.

    ANS: 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.

    ANS: Brand and track record of the insurer. Coverage and the fine print.

    Customer service- both offline and online.

    Customization, perks and discounts.

    The clincher- Price!!

    ANS: 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.

    ANS: 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-

    Damage to third party property.

    Injury or death of a third party (individual(s)).

    Accidental death and/or permanent total disability of the insured vehicle's owner/driver.

    ANS: 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.

    ANS: 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

    ANS: 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.

    ANS: 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.

    ANS: 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.

    ANS: 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.

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

    ANS: 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.

    ANS: 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.

    ANS: 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.

    ANS: 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.

    ANS: 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.

    ANS: 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.

    ANS: 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.

    ANS: 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.

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

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

    ANS: 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.

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

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

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

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

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

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

    ANS: 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.

    ANS: 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.

    ANS: For old cars, i.e., the ones that were bought on or before 31 March 2010, the Pollution Under Control (PUC) Certificate should be renewed on a quarterly basis. The validity of the PUC Certificate for new cars is 1 year. Vehicles that were bought on or after 1 April 2010 are considered to be new cars under this classification.

    ANS: As long as a car insurance policy is in force, there is no restriction on the number of claims that can be raised in a year. However, the number of claims allowed under add-on covers like NCB protect, zero depreciation, etc. are limited. You can find more details on these limits in the policy documentation.

    ANS: Total loss: When an insured vehicle is totally damaged, or destroyed to an extent where it cannot be repaired or recovered for further usage, it is said to be a total loss. Salvage loss: As indicated above, when a vehicle is severely damaged, or totalled beyond repair, it is declared as a ‘total loss’ by the insurance company. Under such circumstances, the vehicle cannot be driven on public roads. However, if the vehicle is restored or rebuilt again and made roadworthy, it will be allowed to be driven again and will bear the tag of ‘restored vehicle’, ‘rebuilt vehicle’, or ‘reconstructed vehicle’. The rebuilt vehicle will also get a salvage loss tag.

    ANS: A certificate of insurance (COI) is the document issued by your insurance provider when you buy an insurance policy from them, or renew an insurance policy with them. The certificate of insurance is a token of proof for your insurance purchase. The certificate is furnished with all the details related to the insurance policy such as, the type of insurance, the coverage provided by it, name of the insurer, policy number, tenure of insurance, and name of the insured.

    ANS: Yes, the city you are residing in will have a direct effect on the premium that you pay. Rural areas are less likely to have accidents as the traffic congestion is less. Hence, the rates of premiums are less if your car is registered in a rural area. Urban areas with a high population are usually more congested and thus the rates of accidents are higher. Since, insurance companies ascertain the premium rates based on the risk involved, the rates will be higher in urban areas or metro cities than rural areas. Another factor on which the insurance rates are dependent is the area in particular. Your insurer can figure out the amount of thefts and accidents in the area where your vehicle is registered using your PIN code. Areas with more thefts, vandalism issues, accidents, etc. will have a higher rate of premium.

    ANS: Period of policy/policy term is the tenure for which an insurance policy is valid or active. During this tenure, your car will be covered under the policy. The starting date is basically the date of inception of the policy and is usually valid for a year. The policy will be valid till the ending date and has to be renewed once the coverage tenure is over.

    ANS: No, it is not possible to continue a car insurance in the name of the previous owner even after the ownership is changed to your name. It is mandatory to have the same address furnished for the registration and insurance of the car, in order to make a claim. It is important to change the name and address to enjoy the benefits of the insurance policy.

    ANS: The following points can be quoted as the disadvantages of not having a valid insurance policy for your car:

    Invite penalties: Having a valid insurance policy for your vehicle is compulsory as per the Motor Vehicles Act, 1988. If you are driving without insurance, be prepared to pay a hefty fine for breaking the law.

    Pay third-party losses: Having car insurance ensures that the losses incurred by a third party on their property will be covered under the policy. The insurance company will cover the expenses that are to be borne by the policyholder. In case you do not have an insurance policy, you have to pay off the expenses from your own pocket.

    Pay for own losses: If your car was involved in an accident, there are high chances that your vehicle has undergone certain losses. No matter how small or big the loss is, you have to bear the expenses for the repairs if you don’t have car insurance. These expenses are covered under a comprehensive insurance plan otherwise.

    Legal complications: If your car does not have an active insurance plan, you might be penalised heavily and might also be imprisoned for not having an active policy. This is in addition to the financial loss that you have to bear to repair your vehicle.

    Loss of No Claim Bonus: If you had an insurance plan for your vehicle earlier and you decided not to renew it, you will be losing the No Claim Bonus (NCB) that might have accumulated in the past policy tenure.

    ANS: If your car insurance application has been rejected, you should look for another insurance provider immediately. There are a number of public and private sector insurance companies in India and most of them offers car insurance as a product. The best thing to do would be to approach another insurer and get a quotation for your vehicle insurance policy. Remember to check for quotes online through a third-party website and compare between all the options there. Using this method, you might end up getting a better deal altogether.

    ANS: Yes, you are eligible to retain the accumulated NCB or No Claim Bonus. If the insurance policy is renewed within 90 days of its expiry, the NCB can be availed. You will lose the NCB if you renew the policy after the 90-day period.

    ANS: If you are renewing your insurance policy with your current insurer, you do not need a proof. Your insurance company will have a complete record of the claims that you have made and the NCB accrued. You would need a proof of no claims only if you are renewing your insurance with a different insurance provider. In this case, you can ask your previous insurer to issue a letter confirming the No Claim Bonus accumulation.

    ANS: If your car has an additional CNG/LPG kit it has to be insured separately. You have to declare the additional fittings at the time of making the insurance policy proposal.

    ANS: Yes, some insurance companies offer discounts up to 50% for people with physical disabilities provided that the vehicle is designed or modified for the use of the physically disabled.

    ANS: An insurance company covers the cost of ambulance as part of the medical expenses after a car accident. The cost for an ambulance ride is covered if it is medically necessary.

    ANS:Founded in 1966 and headquartered in Pune, the Automotive Research Association of India (ARAI) plays an important role in laying down rules and regulations for bringing more efficient, safe, and less polluting vehicles on the Indian roads. It conducts testing, research and development, homologation, and frames the rules and regulations pertaining to vehicles manufactured for India. It uses state-of-the-art technologies and qualified human resources to meet its objectives.

    Car Insurance - Do Not Miss!

    Calculate your Car Insurance Premium Easily:

    Your car is one of the most expensive purchases you would make in life. So, it is prudent to protect it with adequate insurance coverage. Apart from that, the Motor Vehicles Act, 1988, makes it mandatory for all vehicles in India to be equipped with a minimum of third-party liability insurance.

    The cost of car insurance largely depends on the IDV of the vehicle, its model and age, the cubic capacity of the engine, and the geographical zone in which the car was registered. Almost all car insurance companies have an online premium calculator using which you can identify the amount of premium that you will have to pay towards a motor insurance policy. For premium calculation, you have to provide details such as the name of the car manufacturer, the model number, car sub-type, fuel type, date of registration, year of manufacture, etc. Once you submit these details, you will get an instant quote for the insurance.

    Zero Depreciation Cover - The Most Popular Add-on Car Insurance Plan:

    At the time of an auto insurance claim that includes replacement of car parts, an insurance company calculates and applies the rate of depreciation to car parts before settling the claim. The depreciated amount will have to be borne by the policyholder. This is applicable to a comprehensive car insurance policy as well, because the coverage provided by such an insurance plan does not include depreciation on car parts.

    However, a comprehensive car insurance policy can be enhanced through add-on covers by paying extra premium. One of the most popular add-on insurance covers in the auto insurance domain is the zero-depreciation cover. Also referred to as nil depreciation cover or bumper to bumper insurance, this add-on plan enables you to recover the entire cost of replacing car parts without having to pay for depreciation. This cover is only offered to cars that are less than 5 years old. This article educates you on the nuances of the zero depreciation cover.

    Maruti Car Owners, Your One-Stop Shop Destination for the Ultimate Car Insurance Package:

    If you own a Maruti car, then you should get it adequately insured through the solutions offered by Maruti Insurance Broking Private Limited. Maruti Insurance has tie-ups with renowned car insurance companies in India to provide you the best products and services.

    While your car is insured with an appropriate auto insurance policy from Maruti Insurance, you can get it repaired at any of the Maruti Suzuki service centres throughout the country. These service stations offer advanced amenities and infrastructure to offer you a smooth experience each time.

    You can also renew your existing auto insurance policy at the website of Maruti Insurance Broking Private Limited in a hassle-free manner. The claim process and the procedure for adding endorsements to your policy are quick and convenient as well.

    Third-Party Car Insurance or Comprehensive Cover - Which One Should You Choose?

    Car insurance can be broadly classified into two types, i.e., comprehensive insurance and third-party liability insurance. If you are conscious about the cost of auto insurance and would like to limit it to a minimal level, then third-party liability insurance is the best option for you. Although it is the cheapest form of motor insurance, it has limited coverage. If you desire complete protection for your vehicle from accidents, thefts, man-made and natural disasters, and third-party liability, then you should buy a comprehensive car insurance policy.

    This article explains the inclusions and exclusions in comprehensive and third-party liability insurance plans. It also enables you to get a detailed insight on these insurance schemes so that you are better equipped at the time of a policy purchase.

    Time to Renew Your Car Insurance? Here is All You Need to Know to Get it Done:

    An auto insurance policy is a safety net that protects you, your family, and your cherished vehicle from unforeseen incidents like accidents, theft, loss of life, etc. So, it is imperative that your vehicle is equipped with adequate insurance coverage.

    Buying auto insurance is important, but consistently renewing it without any gap in insurance coverage is what matters the most. An auto insurance company rewards a car owner for driving safely and not raising claims by offering him/her a No Claim Bonus. However, if you are not diligent in renewing your car insurance policy on time, you may stand to lose this hard-earned benefit that can actually bring down your renewal premium by up to 50%. Some insurers also refuse to renew the insurance of old cars that have a gap in insurance coverage.

    This article educates you on the A-Z of car insurance renewal. You will also be enlightened on the pronounced advantages of renewing auto insurance online.

    Car Insurance Guide Page

    Trending Articles on Car Insurance 2019:

    • 3 ways to lower insurance premiums on your Maruti Suzuki WagonR

      Looking to save money on your insurance premiums? Here are three simple ways that work:

      • Buy models with advanced safety features or add them. This could include high-speed warning device, EBD, ABS, anti-theft device, etc. Premiums will be lower as the probability of accidents or damages are lower.
      • Avail the No-Claim Bonus. You get this if no claims have been made within a certain period of the policy purchase.
      • Use your Customer Loyalty Bonus points. You can avail this if you are a long-term customer or have taken multiple policies from the insurer.

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    • 5 things you didn’t know about the Tata Nexon

      If you have your heart set on the Tata Nexon, you might like to know these interesting facts about the most awarded compact SUV of 2019. Here are 5 ways the Tata Nexon gives you more value for money:

      • It is available in 22 variants.
      • You have 6 colors to choose from.
      • An out-of-the-world music experience is guaranteed with the Harman 8-speaker system.
      • Never worry about your child’s safety again with the ISOFIX anchorage for child seats.
      • Dual frontal airbags are standard for the driver and co-driver.
      • Once you buy your dream car, don’t forget to insure it! Here’s all you need to know about Tata Nexon car insurance.

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    • 3 Ways to protect your car tyres from punctures

      A punctured car tyre can throw you off your schedule and peace of mind. Here are a few tips to help protect your tyres from punctures:

      • Inspect your tyres monthly. This will help you notice any weak treads that can be fixed.
      • Choose tyres that have slanting surfaces and a higher grip.
      • Check tyre pressure regularly to make sure it is not lower or above the required pressure.
      • If you still get a punctured tyre after all this, here’s a step-by-step guide on how to fix it.

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    • What happens if you accidentally fill the wrong fuel in your car?

      It’s easier to misfuel a diesel car than it is to misfuel a petrol car because of the difference in the size of the nozzle and the fuel tank opening. Petrol can damage a diesel engine because it lacks lubrication. Diesel in a petrol car can clog the fuel system and stall the car. Either way, don’t panic. Find out all that you can do to fix the situation here.

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    • Installing a CNG kit in your car? Here’s what you should know

      A CNG kit is a cost-effective alternative fuel option for your car. Apart from improving the mileage of your vehicle, it is also environment-friendly. However, there are certain things you should bear in mind before you opt to install one in your car.

      This page elaborates on the licensing and compatibility of a CNG kit, the installation and maintenance process, and its repercussions on the insurance of the vehicle.

      Read More...

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

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

    • India Witnesses Testing of the Peugeot-Citroen DS7 Crossback

      The scene of the Indian autos has seen a major boost in the presence of almost all the important brands of the world. The most recent vehicle in the line is the Groupe PSA, which is believed to be making an entrance in India very soon.

      DS, as is known, is essentially a sub brand of Citreon which was further created in order to challenge the supremacy of the German Trio in the market of Europe. The diesel incorporated in the DS 7 is 1.5 liter in weight while generating a maximum power of 130 BHP.

      18 January 2019

    • Base variant of Mahindra XUV300 spotted

      Images of the cabin of the Mahindra XUV300 have been spotted. While variant details haven’t been revealed by Mahindra, it is expected to be the W4 variant of the XUV300. It is likely to be offered in four variants, the W4, W6, W8, and W10.

      Expected to be launched by mid-February, the XUV300 will compete with the Ford EcoSport, Maruti Suzuki Vitara Brezza, and the Tata Nexon. Mated to a 6-speed manual transmission, the XUV300 will be powered by an 123hp, 1.5-litre diesel engine and a 1.2-litre turbo petrol engine.

      17 January 2019

    • New launches, low base, sees car sales grow by 6% in 2018 

      On the back of new car launches and a low base, car sales increased by 6.05% before July 2018, in what has been a volatile year. However, high fuel prices, regulatory changes, as well as the floods in Kerala have resulted in weakening of sales since July. According to the Federation of Automobile Dealers Association, sales fell by 14% during the festive season, which ended in early November. 30% of car sales happen during this period. Carmakers said that even though there was a reduction in fuel prices, factors such as insurance premiums and high interest rates failed to increase car sales for the month of December.

      16 January 2019

    • India emerges as a driving force for Hyundai Motor Company

      South Korea’s largest carmaker, Hyundai Motor Company, has recorded its highest turnover and profit in India for the FY2018. While the turnover grew by 5%, the tax after profit, swelled by 8%. A car is produced every 33 seconds by Hyundai Motor Company.

      Though the overall market grew by 8%, Hyundai Motor India sold 5.4 lakh units in FY18 with a growth of 5%. However, it recorded a growth in profit due to a higher capacity utilisation and a rich model mix.

      15 January 2019

    • 2019 Nissan Kicks to launch in India on 22nd January

      Nissan India is set to launch its latest entrant in the SUV segment, the Nissan Kicks, on the 22nd of January. The Nissan dealerships across the nation had started accepting bookings for the SUV last month. Interested customers are able to visit their nearest dealership or even the company website and book the Kicks with an initial payment of Rs.25,000.

      The Nissan Kicks is based on the MO platform which is also shared by Nissan Terrano, Renault Duster, and Renault Captur. The Nissan Kicks will have both diesel and petrol variants. The petrol variant is powered by a H4K 1.5-litre petrol engine which produces about 106 PS of max power at 5,600 rpm and about 142 Nm of peak torque at 4,000 rpm. The diesel variant is powered by a K9K 1.5-litre diesel engine which juices out 110 PS of max power at 3,850 rpm and 240 Nm of peak torque at 1,750 rpm. Both the trims are two-wheel drive and are mated with a manual gearbox. The Nissan Kicks also gets some features which have been introduced in this segment for the first time. Some of these features include the 360-degree view camera and leather covered dashboard. Other features include rain sensing wipers, cruise control, ABS, EBD, airbags, and an infotainment system with smartphone integration.

      14 January 2019

    • January 23rd to Mark the Launch of Tata Harrier

      The Tata Harrier is expected to be launched on 23 January, 2019, and will be positioned as the company’s contender in the eternally growing mid-size SUV segment which also includes the Jeep Compass and Hyundai Creta. The vehicle will come with a 2.0-litre 140 hp diesel engine. The SUV is 1,706 mm high, 1,894 mm wide, and 4,598 mm long. Its wheelbase is 2,741 mm long. The vehicle will feature a Land Rover-esque Terrain Response controller which has multiple modes for the ESP system. Moreover, it will also feature the company’s Multi Drive 2.0 which consists of Sport, City and Eco models. The SUV will have an 8.8-inch infotainment display along with a 7.0-inch digital MID. So far as the safety features are concerned, the SUV will have 6 airbags, corner stability control, ABS with EBD, hill-hold and hill descent control, hydraulic brake assist, and a roll-over mitigation system. Totally, it will have 4 trims on offer, XZ, XT, XM and XE.

      11 January 2019

    • BMW X7 SUV Seen Testing on Indian Roads for the very first time

      The new flagship of the German automaker, the BMW X7, which is also BMW’s very first 7-seater in the segment, was seen testing on Indian roads for the first time as it prepares for its launch sometime in 2019. The vehicle made its international debut in 2018 and the all-new model is expected to compete with a number of other giants in the luxury SUV sector, including the Range Rover Velar, the Audi Q7 and the Mercedez-Benz GLS among others. The car was seen near Chennai, in a camouflage, implying that it could be assembled locally to ensure that costs are kept competitive. The car is based on BMW’s CLAR platform which also underpins the 5 Series, the 7 Series, as well as the new generation X3. In terms of visuals, the design quotient of the vehicle has been taken a notch higher with slim LED headlamps, huge kidney grille and muscular bumpers that feature wheel arches.

      10 January 2019

    • 2019 Hyundai Santa Fe to debut fingerprint recognition tech on cars

      Hyundai has recently revealed that it will begin to offer fingerprint recognition technology on its cars starting 2019. This technology will allow the owners to lock or unlock the doors, start the car, and set their seating position and side mirrors using their fingerprints. The South Korean automaker has stated that the 2019 Santa Fe will be their first model to receive the feature.

      This technology will help the car owners to unlock as well as start their cars using just their fingerprints. The sensors will be installed on the door handles and the ignition switch. This will make keyless entry and ignition much easier and safer. With regards to the safety, the company has claimed that the fingerprint sensor has a 1 out of 50,000 chance of not recognising or mis-recognising a fingerprint. This success rate is 5 times better than the conventional vehicle keys or smart keys. Reportedly, the feature will be launched in some select markets at first. It will be rolled out in the international market gradually.

      9 January 2019

    • ICOTY Award 2019 Goes to Suzuki Swift

      The automobile industry has recorded better performances in the past as compared to 2018 due to a decline in the sales of passenger cars which hardly hit double-digit growth for several months. However, the industry’s enthusiasm has not been dampened and a number of new vehicles have been launched over the past few months. One of the best barometers of the local car industry was the Indian Car of the Year Award. Although the number of cars competing for the award wasn’t too high this year (8 to be precise, compared to 13 last year), the ICOTY award was given to Maruti Suzuki for the Swift. The Managing Director and Chairman of JK Tyre, Dr Raghupati Singhania presented the award to representatives from Maruti Suzuki India. The total number of points won by the vehicle was 125, 29 clear of the second-placed Hyundai Santro and well ahead of the Honda Amaze which finished third with 77 points.

      8 January 2019

    • 2019 Mahindra TUV300 Facelift Spotted Testing Prior to Launch

      The 2019 Mahindra TUV300 facelift has recently been spotted in India when Mahindra & Mahindra was performing tests on the car. While the subcompact SUV is expected to make its way to the Indian market sometime during the first half of 2019, it is likely to feature a bunch of cosmetic changes along with a host of new and updated features. This is for the second time that the car has been spotted testing in the country within the last few months. Based on the spy images of the 2019 Mahindra TUV300 facelift, the SUV carries a new spare wheel cover with lesser panels, and reveals more of the tailgate-mounted spare wheel. While most of the car remains unchanged from the previous spy images that were released, the recent test mule appears to be sporting a newer set of alloy wheels.

      The updated Mahindra TUV300 is also expected to feature new headlamps, LED daytime running lamps (DRLs), a revised grille, and a renewed bumper. The previous test mule also allowed a glimpse of the cabin which showed a new touchscreen infotainment system. Reportedly, Mahindra has made substantial investments towards the styling as well as technology and engineering aspects of the car in a bid to make the TUV300 a better product overall. The upcoming SUV might also be BS-VI compliant.

      7 January 2019

    Customer Reviews

    • Tata AIG Car Insurance
      "Satisfied policy"
      0.5 5.0/5 "Blown Away!"
      TATA AIG is the best company to take the car insurance. Since long time i have taken this insurance. The customer care people used to call me to renew the policy and they used to policy renewal letter. I will do payment through online. Several times i have claimed the policy and i have received very good response.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 18, 2019
    • Universal Sompo Car Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this insurance policy a long time back and it has been a good insurance policy. I had been paying the premium online and the payment method has been convenient. There has been a claim made once and the claiming method has been simple.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jan 18, 2019
    • New India Car Insurance
      "Comprehensive benefit policy"
      0.5 5.0/5 "Blown Away!"
      My car insurance was taken from New India. I don't speak with their customer care since i don't require it. I had a claim experience which is a easy process without any tension. As per their policy, the maximum claim amount settled. Since they are providing good services i have opted this policy. They have given me a road side assistance and bumper to bumper facility.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 18, 2019
    • Bajaj Allianz Car Insurance
      "Good to Go with Bajaj"
      0.5 4.0/5 "Great!"
      The conditions and the insured which they are providing is good, I have insured Ford Car with Bajaj Allianz, the premium amount is reasonable but they can reduce it. Its 1.5 year old year but still the insurer providing 24 hours service, cash less garages and they have tie up with many centers, the response is great.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2019
    • ICICI Lombard Car Insurance
      "Premium should be standard as per market"
      0.5 4.0/5 "Great!"
      I never used the policy if something happen I claim it, I didn't interact with the customer care but I get the reminder message for car renewal. I have insured my maruthi Suzuki riz with ICICI Lombard, The premium is higher but still they are good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 14, 2019
    • HDFC Ergo Car Insurance
      "Very good"
      0.5 5.0/5 "Blown Away!"
      Even my car was insured with HDFC Ergo. It is a second-end car and have chosen the third party insurance. I have not done any claim so far. The premium is reasonable. It offers bumper to bumper facility and road side assistance. The policy period is 2 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 14, 2019
    • Tata AIG Car Insurance
      "Good Insurer"
      0.5 5.0/5 "Blown Away!"
      My financier suggested the Tata Aig general insurance, the premium is economical for the car policy. I have honda amaze car it got insured with them. The insurance company is providing 24 hours service, cash less garages, brake down service for the tenure of four years. On time I got the papers from the Tata Aig.
      Was this review helpful? 1
      , tirupur
      Reviewed on Jan 10, 2019
    • Tata AIG Car Insurance
      "Good Insurer"
      0.5 5.0/5 "Blown Away!"
      My financier suggested the Tata Aig general insurance, the premium is economical for the car policy. I have honda amaze car it got insured with them. The insurance company is providing 24 hours service, cash less garages, brake down service for the tenure of four years. On time I got the papers from the Tata Aig.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 10, 2019
    • National Insurance Car Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this Insurance policy for my Maruti Car and i had been paying the premium on an annual basis. The premium amount has not been too high and there has been cash less garages available with this insurance policy. Their customer support has also been helpful at times.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 09, 2019
    • ICICI Lombard Car Insurance
      "Nice Policy"
      0.5 4.0/5 "Great!"
      My car was insured with ICICI Lombard. Last year i have purchased this insurance policy. My wife has referred me about this policy. I pay the premium amount of Rs. 13500. They have given me a convenient IDV value. I had no claim experience so far.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 09, 2019
    • New India Car Insurance
      "Need to improve the service"
      0.5 3.0/5 "Satisfactory"
      I'm not satisfied with the service provided by new India. I have bought the car insurance policy. They closed their branch on every weekends hence its difficult to renew the policy. I have been paying the premium amount of Rs. 14000 which is a competitive price. They have given the IDV value of Rs. 1.50 lakhs.
      Was this review helpful? 0
      , mangalore
      Reviewed on Jan 09, 2019
    • New India Car Insurance
      "Average Car Insurance"
      0.5 3.0/5 "Satisfactory"
      My car insured with the New India Insurance company. I have been renewing the policy with the same company for 3 years. I have paid the premium amount of Rs. 7000 and they have offered me a satisfied coverage value. The documentation process was fine
      Was this review helpful? 0
      , mangalore
      Reviewed on Jan 09, 2019
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