Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • 7 Important Steps Before Buying Your First Car Insurance

     4.5 / 5.0   by 2179 users
    Used this product? Write a review >>

    Policy Coverage

    Customer Service

    Claim Experience

    Responsiveness

    Cashless Garages

    Most people buy car insurance after the purchase of the car itself. This is a big mistake that car buyers make inadvertently. This could, in fact, cost them more money than they actually budgeted. It is best to shop for auto insurance once you have an overall idea of the type of car you will be buying.

    The Motor Vehicles Act, 1988, makes it mandatory for all cars to have motor insurance. In this article, we have put together some essential tips to help you get hold of the most appropriate car insurance policy for your needs.

    Step 1 - Understand The Different Types Of Coverage In Car Insurance:

    In India, car insurance is available in two coverage options:

    1. Third-party liability insurance - This insurance plan offers protection from legal liabilities that arise out of accidental injuries, death, or property damage of a third party. The plan does not protect the insured car or its owner/driver.
    2. Comprehensive insurance - This insurance plan includes the following coverage:
      1. Own-damage cover - This protects the insured vehicle from damages due to natural calamities, man-made disasters, and accidents. Theft of the insured vehicle is also offered coverage. Damages to the car while in transit is covered under the insurance as well.
      2. Third-party liability insurance - This coverage is similar to that explained above for the standalone third-party liability insurance plan.
      3. Personal Accident cover - The comprehensive plan protects the owner-driver of the insured vehicle from injuries or death in an accident. However, this cover is not available for the named passengers in the vehicle.

    Apart from the above, the coverage under a comprehensive car insurance policy can be extended by opting for add-on covers that safeguard the vehicle against specific risks. The car owner will have to buy add-on covers separately by paying extra premium.

    It is evident that the comprehensive car insurance plan offers extensive coverage to the policyholder. Hence, if you are a new driver, it makes sense to opt for this policy.

    Step 2 - Understand Your Insurance Requirements:

    How much car insurance coverage you need depends on a host of factors. This includes the amount you owe to the car financer, the worth of your asset, the presence of dependents in your life, and the amount of money you can afford to bear at the unsettling time of an accident. Bear in mind that all car owners will have to be in possession of an auto insurance policy with third-party liability insurance cover. You should think about buying a comprehensive car insurance policy if you have financed the car or if you cannot easily replace it.

    Take into consideration your budget and decide on appropriate add-on insurance coverage. For instance, if you live in an area prone to flooding, you should ideally buy an engine protect add-on cover to safeguard your vehicle’s engine. However, if you are on a tight budget, you can forgo the thought of buying this rider and park your car in an elevated or well-protected area instead.

    Step 3 - Comparison Shop:

    Irrespective of the type of insurance you are buying, it is essential to compare plans online. This facility is offered at several financial websites, free of extra charges. Once you get the estimated costs for different car insurance products, you can weigh out the cost with the coverage offered and decide on the most economical option. You should also consider the reputation of the insurer and its customer service. Look for an insurance company that has a robust incurred claims ratio and a great claim payment history.

    Step 4 - Understand The Coverage Of The Policy You Buy:

    The insurance policy documentation may be filled with legal jargons that may not make much sense to a first-time insurance buyer. But you should read the policy documents and get all your queries clarified with the insurance company. Pay close attention to the exclusions and understand the conditions stated as this will be beneficial to you at the time of a claim.

    Step 5 - Check For Bundling Discounts:

    In case you have purchased other insurance products (health insurance, home insurance, etc.) from an insurance company, you may receive bundling or loyalty discounts on car insurance if you buy it from the same insurer. Check if you are eligible for the same.

    Step 6 - Assess Your Insurance Requirements Regularly:

    As you progress through life, your insurance needs may vary. So, you should evaluate your insurance needs periodically and update the coverage you already have. This is applicable to all types of insurance products. On the subject of car insurance, you may need to buy a bigger car when your family extends beyond you and your spouse. Similarly, when you decide to become self-employed, you may want to cut down on your car insurance coverage for a specific period of time. Increase or decrease in income may also lead to changing insurance needs. In order to have the best possible coverage, it is necessary to review your insurance needs regularly and alter the coverage accordingly.

    Step 7 - Do Not Let Your Insurance Lapse:

    It is illegal to drive without an insurance policy. Hence it is important to ensure that there is no break in your auto insurance coverage. Some insurers may also refuse to insure your vehicle after a break in insurance. So, renew your car insurance policy on time and stay safe on the roads.

    There are several factors that affect your auto insurance rates. This includes the area of registration of the vehicle, your age and gender, your marital status, the purpose of the car, and the make and model of the vehicle. So, the cost of your insurance policy may not be the same as that of your friend’s. Keep this in mind when buying car insurance.

    Car Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • National Insurance Car Insurance
      "Good insurance for car"
      0.5 5.0/5 "Blown Away!"
      When i purchase my car, they have provided the car insurance policy with National and they have charged me a premium amount of Rs. 14000. I have taken a one time claim. The claim experience was very good. They have given me a claim amount of Rs. 11000. The claim was fully cashless covered. I pay for the consumable items
      Was this review helpful? 0
      , dehradun
      Reviewed on Nov 13, 2018
    • New India Car Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      My Maruthi Swift car got the insured declared value of Rs. 5 lakhs with New India company. I have comprehensive plan with bumper to bumper it covers loss, damage, accidental cover with life cover for the driver for maximum of one lakh. If we pay Rs.50 rupees extra with the premium.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 12, 2018
    • National Insurance Car Insurance
      "Good Policy for four wheeler"
      0.5 5.0/5 "Blown Away!"
      National insurance is good, I have been holding the car policy with them around one year. My car showroom person have suggested this policy, I got better insured declared vehicle. Its new car brand swift dezire with bumper to bumper protection.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 09, 2018
    • Iffco Tokio Car Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      The dealer have suggested the IFFCO TOKIYO car policy, I got the better IDV value for bumper to bumper zero depreciation plan. I got the policy documents on time, I had a claim once, I directly approached the dealer they taken money from the cover. But I have paid 20 to 30% of amount according to the parts which was not covered.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 05, 2018
    • United India Car Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have taken the card insurance where i have a good experience with this policy. I have experienced with the claim which is reimbursement and i got no complete claim. The policy coverage is for basic but the premium and the IDV value is good with this policy.
      Was this review helpful? 0
      , kota
      Reviewed on Nov 04, 2018
    • United India Car Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have purchased the two wheeler policy with the UNITED INDIA INSURANCE and i am using it from past three years where i am facing with no issues with this policy. I have no claim experience added on that the premium and also the IDV value is good with this policy.
      Was this review helpful? 0
      , kota
      Reviewed on Nov 04, 2018
    • Reliance General Car Insurance
      "Excellent"
      0.5 4.0/5 "Great!"
      When I purchased a car, the showroom has offered me a car insurance with Reliance. I have paid 12,000 rupees for this policy. The customer support is excellent. The claim experience is excellent and have applied for accidental claim, It was approved within few more days, zero depreciation was provided, All items been replaced of the car.The policy coverage is good, bumper to bumper offer is available. Every year am renewing my insurance only with RELIANCE.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 03, 2018
    • HDFC Ergo Car Insurance
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have compared in online for car insurance and gone for HDFC Ergo. The top one is Reliance and HDFC, though reliance is providing more benefits since I know HDFC is very well so opted for HDFC Ergo. It is a easy process. No claim gone till now. I have paid 12K to purchase and bumper to bumper offer is available.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 02, 2018
    • Liberty Car Insurance
      "Hopeless company"
      0.5 1.0/5 "Really Bad"
      They have literally detrayed me when i apply for a claim. There are some issue with the policy documents itself. When I met with an accident they said they will process the claim. After 3 days they said there is an issue with the policy. I called the customer care service but no one was picked up the call. After 4 days, they have issued the new policy and i got the car after 7 working days only from the garages.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 01, 2018
    • Bajaj Allianz Car Insurance
      "Superb Policy"
      0.5 5.0/5 "Blown Away!"
      I selected Bajaj Allianz for my car. I chosen the company because of the lower premium rates. They have sent all my documents to my residential address. They do have regular follow up with the customer regarding the car insurance. I never had any issues with this policy. I pay the premium amount of Rs. 6300 and i have not availed the bumper to bumper facility. They have provided me the no claim bonus upto 50%.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 01, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I hold a car insurance policy with HDFC ERGO from last 1 year, I am not aware of the premium amount for this insurance policy. I have no claim experience so far with this insurance policy. I am happy with the coverage value of this insurance policy.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 01, 2018
    • Bajaj Allianz Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I am having a car insurance policy with Bajaj Allianz and i have taken this policy for 2 years. A premium of Rs 17000 has to be paid for this insurance policy. I have no claim experience so far with this insurance policy and this policy has full coverage with 0% depreciation.
      Was this review helpful? 1
      , nellore
      Reviewed on Oct 31, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My car is insured with HDFC ERGO from last 1 year and it is a good insurance policy. I pay a premium of Rs 5000 for this car insurance policy. I have no claim experience so far with this car insurance policy. This policy covers only bumper to bumper damage.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 31, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 3.5/5 "Pretty good"
      I hold a car insurance policy with HDFC ERGO from last 1 year, a premium of Rs 15000 has to be paid for this insurance policy. I have no claim experience so far with this insurance policy. This policy has full coverage with 0% depreciation.
      Was this review helpful? 0
      , jabalpur
      Reviewed on Oct 31, 2018
    • SBI General Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      My car is insured with SBI general insurance and i have taken this policy for 1 year. A premium of Rs 39000 has to be paid for this car insurance policy. I have not claimed anything so far with this insurance policy. This policy has full coverage with 0% depreciation.
      Was this review helpful? 1
      , sangli
      Reviewed on Oct 31, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I hold a car insurance policy with HDFC ERGO from last 1 year, a premium of Rs 15000 has to be paid for this insurance policy. I have taken this policy for 3 years. I have no claim experience so far with this insurance policy. This policy covers only 3rd party damage.
      Was this review helpful? 0
      , thane
      Reviewed on Oct 31, 2018
    • New India Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my car insurance with national insurance and i have taken this policy for 1 year. A premium of Rs 16000-17000 has to be paid for this insurance policy. I have not claimed anything so far from this insurance policy and this policy has full coverage with 0% depreciation,.
      Was this review helpful? 0
      , jodhpur
      Reviewed on Oct 31, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken car insurance with HDFC ERGO for 1 year, a premium of Rs 33000 has to be paid for this insurance policy. I have no claim experience so far with this car insurance policy. This policy has full coverage with 0% depreciation.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 31, 2018
    • New India Car Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience with them so far had been good and i had been paying the premium annually. The premium amount of 5700 has been nominal and i had been paying the premium offline and it had been convenient. The policy covers bumper to bumper.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Oct 31, 2018
    • HDFC Ergo Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a car insurance policy with HDFC ERGO for 1 year, A premium of Rs 7000 has to paid for this insurance policy. My claim experience was good with this insurance and they provided cashless garage. This policy has full coverage.
      Was this review helpful? 1
      , navi mumbai
      Reviewed on Oct 30, 2018
    Common Loader Icon
    Page 1 of 50 1 2 3 4 5

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.