Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • Instructions to Opt For the Right Car Insurance Policy

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    According to the Motor Vehicles Act of 1988, it is mandatory that every vehicle being driven on the road be insured. Although third-party car insurance is compulsory in India, opting for a comprehensive car insurance is as per one’s wish. All car buyers are flooded with a number of car insurance policies, making it difficult to choose. Choosing the right insurance policy can be a bit tricky, especially if you aren’t exactly adept at understanding the ‘fine print’. So how can you choose the best car insurance policy available in the market? Before we list the tricks to choose the right car insurance plan, let us know more about car insurance.

    What is car insurance?

    Car insurance is a contract between you and your insurance company. It is when you agree to pay the premium and the insurance company in return agrees to pay for your losses as defined in your insurance policy. Car insurance covers expenses related to the damage of a property, liabilities raised by an accident, and medical expenses.  Most car insurance policies are for six months to one year. When your car insurance policy is about to expire, your insurance company will notify you via email or phone to renew it by paying the premium amount.

    Ways to choose the right car insurance policy:

    When you buy a car, your car dealer will offer you a wide range of car insurance plans. It is easy to choose one from the options given to you. But don’t let the excitement of buying a new car cloud your judgement. When it comes to buying a car insurance plan for your dream set of wheels, you will have to research a lot, shop around, get some real-time reviews, and then choose a policy that matches your requirements. Make a well-informed decision when you choose the insurance cover for your prestigious possession as this will protect you from the huge bills you may incur if you meet with an accident. A comprehensive car insurance policy not only covers the losses incurred by you due to an accident but also protects you from third-party liabilities and legal bills.

    • Shop around
    • When it comes to partying, we all hop from one club to another as we do not wish to miss out on the good things the second club has to offer. Likewise, while shopping for a car insurance, make sure that you compare various car insurance policies before you choose one. Do not restrict yourself to choose from the insurance plans offered to you by your car dealer. You can compare various car insurance plans online and narrow down your search of selecting the correct car insurance plan by filtering it as per your requirements.  Apart from saving a lot of money and time, shopping car insurance online gives you numerous options. So compare car insurance before you finalize one and give a thumbs-up for your wise decision.

    • Don’t ignore the add-ons
    • What are add-ons? We all know that a comprehensive car insurance cover includes damage to your car, loss, and theft of your vehicle as well as third party cover. However, if you pay a little extra on your premium, you can benefit from some additional benefits on your car insurance plan. These additional covers are called add-ons. Add-ons are not mandatory but optional. You can decide if you want an add-on or not. Some of the popular add-ons offered by car insurance companies in India are Depreciation Waiver Cover, Windshield Glass cover, Personal Accident Cover, Loss of Baggage Cover, and Engine Protector Cover. Give importance to add-ons and choose the ones you need wisely.

    • Make sure you have a free look period
    • Free look period is the time frame you get from the insurance company to read the policy related documents and decide if you want to keep the policy or not. If you do not like the terms and conditions of your car insurance policy, you can return the policy within the free look period and ask for a refund. You will not be charged with a penalty if you return the policy within the free look period. Always choose a car insurance policy with free look option so that you have abundant time in hand to decide if you want to continue with the policy or not.

    • Ask for discounts
    • Do not be shy to ask discounts. It can help you save some money. Did you know you can earn upfront discounts for being a good and safe driver? Many car insurance companies offer discounts for a safe driver with a long safe driving record. They also consider older and married drivers to be responsible on roads. Take advantage of this and ask for discounts. If you have a car with sufficient safety features like anti-theft alarm, airbags, and ABS system, you can negotiate your car insurance premium. Insurance companies tend to offer discounts for people having cars with adequate safety features. For this reason, consider buying a car with high safety features as it not only safeguards you during an accident but also reduces your car premiums.

    • Discuss the Insured Declared Value
    • Insured Declared Value or the IDV is one of the major factors that decides the premium of the car. What do you mean by Insured Declared Value? Simply put, Insured Declared Value is the current market value of your car. It is the highest sum payable by the insurer for your car insurance policy. In other words, it is the maximum amount you can claim in case of total loss or in case of theft within your policy period. Always ensure the premium charged is correct because lower the IDV, lower would be the premium. If your IDV is stated incorrectly in your policy document, you will have to shell out a lot from your own pocket. Before selecting a car insurance policy, discuss the Insured Declared Value of your car with your insurer.

    • No claim bonus
    • Insurance companies reward their policyholders for every claim-free year. They encourage their customers to not make claims and to drive safe. No-claim bonus is a discount the insurance company gives you if you do not make a claim during the term year. For example, if you do not make any car insurance claims claims for one year, your insurer will give you about 25% discount on your premium when you renew it. No-claim bonus is given to the policyholder and not the vehicle, so, even if you switch your cars, you will get this benefit. You can also use your no-claim bonus when you switch insurance providers. The percentage of the discount given increases with every claim-free year. So, when you choose a car insurance policy, make sure your insurance provider offers no-claim bonus option.

    • Claim Settlement Ratio
    • Always make sure that you buy a car insurance policy from an insurance company that has a good claim settlement ratio. What is a claim settlement ratio? Claim settlement ratio refers to the number of car insurance claims received by a company and the number of claims settled by them. Avoid purchasing a car insurance plan from an insurance company that has a bad claim settlement ratio. This means that the number of claims unsettled is more than that number of claims that are settled. This is very important because when you make a claim, you wouldn’t want it to be rejected for petty reasons.

    • Cashless facility
    • Many insurance companies these days offer cashless facility to their customers. They have authorised garages throughout the country and all a customer has to do is take their car to one of the listed garages and get it repaired. This way, they do not have to pay cash upfront, submit a claim, and wait for the reimbursement. This saves a lot of time and makes it hassle-free as customers do not have to go through the tedious claim process. When you choose a car insurance policy, make sure you have cashless facility available.

    • Read the fine prints
    • Before finalising on your car insurance, make sure you read the fine print of your insurance policy carefully. Make sure you are not paying high premiums and are still undercovered. Read the “Exclusion” part of the policy document word-to-word as it lists out the things the insurance company will not cover.

      If you planning to buy a new car policy or switch your insurance provider, make use of third-party websites like BankBazaar. This website not only allows you to compare several car insurance policies online buy also lets you apply for it immediately.

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

    Claim Reviews

  • Page 1 of 50 1 2 3 4 5
    • Royal Sundaram Car Insurance
      "Good Product"
      0.5 4.0/5 "Great!"
      For my Maruthi car I took Royal sundaram general insurance through dealer I have approached the premium is reasonable, I don't think its a comprehensive plan. Once I had claim I met with the accident, there was a car damage, they gave 70% of claim, remaining I paid from my end.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 07, 2018
    • Reliance General Car Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      RELIANCE GENERAL INSURANCE is the insurer where i have taken my car insurance and the premium i paid which is nominal added on that the IDV value is also sufficient with this policy. The policy coverage is for bumper to bumper for this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 07, 2018
    • SBI General Car Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I had a claim of 44k with the SBI GENERAL INSURANCE where i have taken the card insurance and the claim is of reimbursement and i got within the one day. The premium is nominal and the IDV is nominal. The coverage is for bumper to bumper. The process is good with this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 07, 2018
    • ICICI Lombard Car Insurance
      "Good Protection for four wheeler"
      0.5 4.0/5 "Great!"
      The car policy with ICICI lombard is good and they are economical on the cost wise, I took policy for one year I took 100% its zero depreciation. They gave me best insured value based on the age of vehicle, they have ncb features and they many service centers too.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Dec 05, 2018
    • Bajaj Allianz Car Insurance
      "Good claim process with fast service"
      0.5 4.0/5 "Great!"
      The premium amt is good in Bajaj Allianz and economical too, I paid Rs. 25k for one year. I have Hyundai I ton card its 3 years old, they gave me best insured declared amount, I got the papers on time, my claim exp is good, car got damaged and replaced and gave it on time, even they have lined with many service centers.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 05, 2018
    • ICICI Lombard Car Insurance
      "Quick policy"
      0.5 5.0/5 "Blown Away!"
      I have been renewing the policy for 4 years with ICICI Lombard. The policy was given by dealer when i purchase the policy and i'm continuing the policy without any reason. The claim experience was fine. I have got the coverage amount of Rs. 9 lakhs and i have got the claim amount of RS. 40000. This policy covered with bumper to bumper facility. I have got the claim within 5 days.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 05, 2018
    • Universal Sompo Car Insurance
      "Good Car Insurance policy"
      0.5 5.0/5 "Blown Away!"
      My car insurance policy was taken 2 years ago with Universal Sompo. I have been renewing the policy with the same company. I have paid the premium amount of Rs. 4000. This policy has been covered for 100%. They have given me a car value of Rs. 1.90 lakhs.They have offered me a facilities of road side assistance and bumper to bumper. I have no claim experience so far.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 03, 2018
    • Bajaj Allianz Car Insurance
      "Its Good"
      0.5 4.0/5 "Great!"
      Cost of the car policy is good in Bajaj Allianz. I have Maruthi card they best insured value based on the age. I don't have any claim experience. The insurance company gave me Rs. 2.5 lakhs for one year, third party cover and personal accidental cover is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 03, 2018
    • New India Car Insurance
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      In 10 years of experience I didn't face any claim. I have wagon R, the premium cost was economical, I paid around Rs. 5000 for one year, they gave me the comprehensive 100% protection plan, they got tie up with the dealer and they do have ncb features.
      Was this review helpful? 1
      , mumbai
      Reviewed on Dec 03, 2018
    • United India Car Insurance
      "Good car insurance policy"
      0.5 5.0/5 "Blown Away!"
      Since its a new car, they have given me a a zero depreciation policy. The dealer has recommended me about this car insurance policy when i purchase my car. I have paid the premium amount of Rs. 28000. They have not given me a road side assistance facility but bumper to bumper facility is available. More garages are available in my location.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 03, 2018
    • ICICI Lombard Car Insurance
      "Better"
      0.5 4.5/5 "Excellent!"
      My car insurance was taken with ICICI Lombard and it was offered by the showroom. They are giving zero depreciation and don't know about the other offers. The premium is included in the car price. The customer service is good. They have sent the insurance papers on time.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 02, 2018
    • review Car Insurance
      "Value of money"
      0.5 4.0/5 "Great!"
      4 years back, i have bought my car insurance policy with Bharti Axa. Somebody suggested me about this car insurance policy. The premium amount is less comparatively less when i compared with other companies. I'm happy about the coverage value they have provided to me. I have not claimed anything in this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 02, 2018
    • Tata AIG Car Insurance
      "Yet to experience the policy"
      0.5 4.0/5 "Great!"
      I have purchased the TATA AIG car insurance 6 years ago. I have selected the TATA company because of the brand value. I'm not sure about the bumper to bumper facility. I have got the benefits of no claim bonus, cashless garages. I never interacted with the customer anyway I'm satisfied with the policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 02, 2018
    • ICICI Lombard Car Insurance
      "Good experience with ICICI Lombard"
      0.5 4.0/5 "Great!"
      My car insurance was taken with ICICI Lombard. I never interacted with the customer care. I had a claim experience with them and the certain parts are not covered however the coverage value was good. They are given me a bumper to bumper coverage. They have given no claim bonus when i have not claimed anything before.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 02, 2018
    • United India Car Insurance
      "No claim experience in United India"
      0.5 4.5/5 "Excellent!"
      When i purchase my car, bank has given me a United Car Insurance. There is no much difference between this policy and others. The premium amount is less since its provided by the bank people. I paid the premium amount of Rs. 24000. 10 years back, i have purchased this policy. They have given me a 100% coverage value. I have not claimed anything in this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 02, 2018
    • Tata AIG Car Insurance
      "Good Car Insurance policy as of now. "
      0.5 4.0/5 "Great!"
      My car insurance policy was taken with TATA AIG. My friend has recommended me about this policy. He has taken care of all the details of the policy. I have been renewing the policy for last 9 years. I never interacted with their customer since i don't require it. I had no claim experience till now. They have offered me a coverage value of Rs. 6.25 lakhs. I have got a no claim bonus.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 02, 2018
    • National Insurance Car Insurance
      "Its Good"
      0.5 4.0/5 "Great!"
      I think I paid the premium around Rs. 28,000 for IDV value of Rs. 3 lakhs for the tenure of one year. I have model of maruthi swift its 2015 model, it has bumper to bumper coverage, its protects only for my car. They will provide no claim bonus on next year.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 01, 2018
    • ICICI Lombard Car Insurance
      " Good Experience and hassle free"
      0.5 5.0/5 "Blown Away!"
      The ICICI lombard premium amount is economical I Have taken the policy for one year. I took the comprehensive plan with fist party accidental, it also cover loss, damage etc. I got the policy documents on time. faced claim, I went to the showroom they taken the documents, I just dropped my car to the dealer I paid 1000 at the time of billing , they completed all the process, delivery time is low.
      Was this review helpful? 1
      , mumbai
      Reviewed on Dec 01, 2018
    • review Car Insurance
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      I hold a car insurance with Kotak Mahindra general insurance from last 1 year, there was no cashless garage facility given at the time of claiming. The coverage value was good, the bill amount was for Rs 21000 out of which i paid Rs 1000. I pay a premium of Rs 13000 for this car insurance which has full coverage with 0% depreciation.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 01, 2018
    • HDFC Ergo Car Insurance
      "Average Policy"
      0.5 3.5/5 "Pretty good"
      I hold a car insurance with HDFC ERGO from more than 1.5 years, a premium of Rs 5000 has to be paid for this insurance policy every year. I did not claim anything so far from this insurance policy. They cover bumper to bumper damage for this car insurance.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 01, 2018
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