• 7 Important Steps Before Buying Your First Car Insurance

     4.5 / 5.0   by 1937 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
    • Reliance General Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I was using Reliance car insurance from last 1 year, i am not satisfied with the coverage value of this insurance policy. I do not have claim experience so far with this insurance policy. A premium of Rs 20000 has to be paid for this insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 25, 2018
    • United India Car Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I have a car insurance with United India Insurance from last 6 months, they cover bumper to bumper as well as third party damages. I have not claimed anything so far with this insurance policy. I pay a premium of Rs 14000 which has to be paid every year.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 25, 2018
    • Oriental Insurance Car Insurance
      "Good policy for car"
      0.5 4.0/5 "Great!"
      I have taken the car insurance from Oriental insurance and the premium for the policy is 6300. As the car is a second hand one there is no bumber to bumber. They only have zero depression,cashless garage, road assistance. The customer service is fine.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 25, 2018
    • ICICI Lombard Car Insurance
      "Good"
      0.5 4.0/5 "Great!"
      The service of Icici Lambard car insurance service is awesome compared to others in the market. They collected all my documents directly which was an easy process. The payments are through online. It was a good experience with Icici Lambard car insurance service.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 24, 2018
    • HDFC Ergo Car Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Hdfc Ergo car insurance service is good. The online portal is easy for navigation with lot of good options. They never asked for any documents as it was an paperless approval. The payments are through online. It was an good experience with Hdfc Ergo car insurance service.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 24, 2018
    • Tata AIG Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a car insurance with TATA AIG from last 3 months and it is a good insurance policy to use. They cover bumper to bumper as well as third party damages. I have not claimed anything so far with this insurance and i pay a premium of Rs 12000 for this insurance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 24, 2018
    • ICICI Lombard Car Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I directly purchased my car insurance service from the showroom through Icici. The payments are through cheques. They use to intimate regularly. The payments are through cheques. The staffs where friendly during the process. It was an good experience with Icici car insurance service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 23, 2018
    • ICICI Lombard Car Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I have my car insured with ICICI lombard from last 7 years, my claim experience was not up to the mark with this car insurance policy as they covered only bumper to bumper damage. I got a coverage value of Rs 2000 for this claim experience. I pay a premium of Rs 6000 for this insurance.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 20, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with HDFC ERGO from last 2 years, i am happy with the coverage value of this car insurance. I do not have claim experience so far with this car insurance. They cover bumper to bumper as well as third party damages. I pay a premium of Rs 17000 for this insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2018
    • ICICI Lombard Car Insurance
      "ICICI LOMBARD Car Insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a car insurance with ICICI lombard and the premium is 28000. They provide bumber to bumber, road assistance, cashless garages, zero depression, accidental coverage to the first party and the third party. While comparing its a good policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 20, 2018
    • National Insurance Car Insurance
      "Good policy for car"
      0.5 3.0/5 "Satisfactory"
      I have taken a car insurance from National insurance and the premium amount is 9000. There was no bumber to bumber included with this policy as it was an old car. They include accidental insurance, and third party coverage. I have to renew the policy every year.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 20, 2018
    • ICICI Lombard Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with ICICI lombard from last 1 year, i am happy with the coverage value of this insurance policy. I have not claimed anything so far with this insurance. I am not aware of the premium amount of this car insurance. They cover only bumper to bumper damages for this insurance.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 19, 2018
    • HDFC Ergo Car Insurance
      "Car insurance with HDFC ERGO"
      0.5 5.0/5 "Blown Away!"
      I have taken the car insurance with HDFC Ergo and the yearly premium which i am paying is 20000. The provide bumber to bumber cashless garage, road assistance and accidental insurance as well. And yearly i have to renew the policy.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 19, 2018
    • Shriram Car Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      Recently I have renewed the car insurance from the SHRIRAM GENERAL INSURANCE company. The customer support service and the response is good with the Shriram because they give reminders to renew the policy before the due date. I have paid Rs,12,000 to renew the car insurance from the SHRIRAM GENERAL INSURANCE company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 19, 2018
    • Oriental Insurance Car Insurance
      "Good car policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a car insurance with ORIENTAL INSURANCE and the premium which i am paying is 14000 which i have to renew yearly.The benefits include bumber to bumber, road assistance, cashless and accidental insurance as well. I don't have any claim experience but its a good policy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 18, 2018
    • Iffco Tokio Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my car insured with IFFCO TOKYO from more than 1 year, i had a very good claim experience and they covered 80-90% of the billed amount. This policy covers only bumper to bumper and third party damages. A premium of Rs 30000 has to be paid for this insurance.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 17, 2018
    • review Car Insurance
      "Very good policy to use"
      0.5 5.0/5 "Blown Away!"
      Got the car insurance policy from the Bharathi axis general insurance company around 5 months ago. I have paid around Rs,40,000 to get this policy this year, because this policy covers bumper to bumper benefits and the policy coverage is good with this policy.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 17, 2018
    • National Insurance Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I am having a car insurance with National insurance from last 10 years, i have a very good coverage value for this car insurance. I do not have any claim experience so far with this car insurance. A premium of Rs 2500-3000 has to be paid for this car insurance.
      Was this review helpful? 0
      , faridabad
      Reviewed on Apr 17, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a car insurance with HDFC ERGO from last 3 years, i am happy with the coverage valye of this policy, they cover bumper to bumper as well as third party damages. I have not claimed anything so far with this insurance and the premium amount of this insurance is Rs 13000-14000.
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 16, 2018
    • Reliance General Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a car insurance with Reliance from last 2 years, i do not have any claim experience so far with this car insurance. I pay an insurance premium of Rs 30000 every year. I am happy with the coverage of this insurance and they cover bumper to bumper as well as third party.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 14, 2018
    Common Loader Icon
    Page 1 of 50 1 2 3 4 5
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.