The key is to find a plan with maximum coverage and affordable premium. Insurance protects you and your car against unforeseen circumstances. Whether it’s natural/man-made disasters, theft, or a road accident, being prepared is of paramount importance.
When applying for car insurance online, pick a coverage plan you need. Third-Party Liability Coverage compensates injuries as well as property damages but it doesn’t protect you nor your car. Insurance Regulatory & Development Authority of India (IRDA) revises premium and coverage rates annually. Current third-party premium rates that apply are as follows: Engine capacity less than 1,000cc at Rs. 2,055, above 1,000cc but not greater than 1,500cc at Rs. 3,132, and more than 1,500cc at Rs. 8,630. Damage compensation is upto Rs. 7.5 lakh. For injury/death, final decision is in the hands of court tribunal.
Comprehensive car insurance covers loss/damage to you as well as your car, and protects against third-party liabilities. It provides financial protection from loss due to an accident, theft and natural disaster through third-party. OD premium varies depending on vehicle make-model, age of car, and geographical area.
When searching for car insurance online, be on the lookout for a guarantee of cashless garages where you’re only required to pay any excess towards depreciation of replaced vehicle parts. Settle on helpful claim assistance so you have proper guidance when filing a claim. Always have the option of add-ons so that you can always modify the it as per your requirement.
Hydrostatic lock cover offers coverage of repair / replacement of engine parts which have been damaged due to water / flood if your vehicle is less than 5 years old. No Claim Bonus (NCB) Protector helps retain 50% NCB discount even after a claim.
Zero Depreciation cover does away with the need to pay depreciation on expenses of repaired/replaced fibre, plastic, glass and rubber parts. Roadside Assistance helps with road repairs, flat tyres, towing facility and emergency fuel refilling at any given time.
If you submit a claim under Invoice Price Cover, you get an car’s invoice value, along with road tax, insurance and registration fees. Co-Passenger Cover provides coverage to fellow passengers for Rs 1 lakh in case of permanent disability or death. Key Replacement covers the cost to replace lost or stolen key twice during policy period.
Varied policy coverage also caters to medical expenses, cash for hospital for a period of upto 30 days if hospitalized, coverage for consumables like oil, bolts, bolts which are no longer fit for use, and engine, if your car breaks.
When buying car insurance online, it is clearly outlined what your policy covers and what it does not. Protection is offered for road accidents, natural disasters, man-made disasters, and third-party liability.
Drink and drive, staged accidents, illegal activity (driving on wrong side, no valid license, underage driving), driving a privately owned vehicle for business or commercial use, consequential damages, expired policy, regular wear and tear, mechanical failure, electric failure are a strict no-no and claims for any of the above will be rejected.
Always choose the correct Insured Declared Value (IDV), i.e., your car’s market value – as it’s the maximum compensation assured when claim is filed, and it determines the premium amount.
While you can’t step out of a dealership without car insurance, what is important is to Renew Car Insurance policy each year without fail. Of course, you’ll be provided ample reminders to renew the policy. Policy renewal is an easy process that can be completed online. Enter the previous policy number and expiry date, and get started. A seamless digital platform helps Renew Car Insurance in the quickest possible time on any day.
