buy car insurance policy online

Car Insurance in India: Buy, Renew Four Wheeler Insurance Online

Car Insurance Insurance

A decade ago, people would have been pretty doubtful about buying car insurance online. However, with the entire world going digital, we must adapt to the same.

The world has changed drastically and today almost all insurers provide the facility of online car insurance policies. A lot of people might still cling to the old way of insuring their cars but we need to remind ourselves that change is the only constant.

If you are someone with little or no knowledge about a car insurance policy in India, then this article will tell you all about it. So, without any further ado, let’s dive in!

What is Car Insurance?

Car Insurance is a type of insurance that promises to protect your car from any future damage. car insurance policy It will provide cover for financial loss in case of accidents, theft, or any other damage to the insured vehicle. Keep in mind that this insurance policy cannot be taken as an investment because it won’t give you returns.

Any kind of motor insurance allows you to ride the insured vehicle confidently without worrying much. A car insurance policy should be reliable, easy, and provide the utmost protection to your vehicle.

Types of Car Insurance Policy in India

1. Comprehensive Car Insurance Policy

Besides providing coverage for damages to the insured vehicle, comprehensive car insurance also takes care of third party liability. You will get extensive coverage and benefits in addition to cover for third party liabilities.

You can also further extend this policy to opt for add-ons such as accessories coverage, engine protector, etc. Moreover, the add-ons can also include zero depreciation car insurance cover, medical expenses, etc. Such amazing benefits make this insurance the most popular car insurance policy.

The end-to-end coverage offered is great which makes the experience a lot less stressful for the policyholder.

2. Third-Party Car Insurance Policy

The third-party car insurance will protect you from all sorts of legal liability if your car happens to be involved in an accident. The insurance provider will provide you with death compensation, cover for disability, property damage, or any injury.

So, this insurance will provide for the financial liability towards any third party involved in the accident. Keep in mind that third-party liability insurance is a mandatory one in India as per the Motor Vehicles Act, 1988.

Engine Capacity Third-party Liability Car Insurance Price

(Effective from June 16, 2019)

Less than 1000 cc INR 2,072
More than 1000 cc and less than 1500 cc INR 3,221
More than 1500 cc INR 7,890

3. Pay as You Drive Insurance

Motor Insurance, aka “Pay as You Drive Insurance”, will allow you to pay the premiums as per the distance you drive. This scheme will prove to be ideal for those who have multiple cars and not all of those are used regularly.

Motor insurance will provide you with extensive coverage for damage and third-party liability for a 1-year term on a pilot basis. The policy applicant needs to disclose the distance expected to travel in a year. Based on that distance, your insurance premiums will be decided.

However, the car insurers offer three different slabs for the distance driven, i.e. 2,500km, 5,000 km, and 7,500 km.

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Why Should You Buy Car Insurance?

The first and foremost reason to buy car insurance online in India is that it has been made compulsory by the Government of India. As per the Motor Vehicle Act, 1988, getting motor insurance is mandatory for all Indian car owners. This decision has been made to protect the car owners from excessive expenditure in case of any damage to their car.

Given below are some of the reasons why car insurances are a must:

  • A car insurance policy in India pays for any damage caused to your car due to collision, accident, natural reasons, etc. Otherwise, you would have to pay for these yourself.
  • In case someone gets injured due to a car accident, the insurance will pay for the hospitalization expenses.
  • It reduces the legal and financial damages arising from third-party liability.
  • You will also get rider benefits such as roadside assistance and zero depreciation, which reduce the expenses even more.
  • The premium of the best car insurance is decided based on the Insured Declared Value or IDV of the vehicle. If the IDV is increased, the premium rises and vice-versa

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What are the Benefits of Car Insurance in India?

Car insurance has been mandated by the law. However, it is good to get one for the benefit of the car and yourself as well. There are several benefits of buying car insurance online. Some of the same are mentioned below:

1. Covers Accidents

Besides providing for third-party cover, comprehensive car insurance also covers personal accident. You will receive a pre-defined amount in case anyone dies in the accident or suffers from permanent total disability. 

Also, you can purchase cover for your co-passengers too on an unnamed basis. This can reach a maximum of the seating capacity of your car. However, the amount of coverage will be pre-determined in this case.

2. Covers Damage to the Insured Vehicle

The main attraction of the best car insurance policy is the coverage provided for damage caused to your car. Reasons such as fire, accident, theft, riots, etc. are covered in the plan. Moreover, if your car faces any damage due to transit via train, road, air, or something else, then that too shall be covered.

3. Network of Repair garages

Car insurance aims to make sure that you do get coverage for any damage caused to your car. Now, to avail of it, you might require a garage that has a tie-up with the car insurance company in question.

Almost all vehicle insurance providers have a wide range of network garages spread all across the country.

4. No Claim Bonus

No Claim Bonus (NCB) is a unique offer you get when you buy vehicle insurance. Here, policyholders are rewarded for the year that they don’t make a claim. Generally, a discount ranging from 20% to 50% is offered on the payable premiums in no claim year. This makes car insurance even more affordable.

5. Third-Party Liabilities

Suppose, your car met with an accident that resulted in damage to a third-party’s property, then that will be covered by your insurance. If you happen to meet any legal liabilities due to an accident caused by the insured vehicle, then coverage for the same will be provided.

So, your car insurance makes life less stressful for you by even providing for injury or death due to an accident where your car was involved.

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Best Car Insurance Companies in India 2020-2021

Sl. No. Car Insurance Company Network Garage Personal Accident (PA) Cover Incurred Claim Ratio (2018 – 2019)
1. HDFC Ergo General Insurance Company 7500+ INR 2 lakhs 82%
2. TATA AIG General Insurance Company Major garages in India N/A 78%
3. ICICI Lombard General Insurance Company 7800+ Up to INR 25 lakhs 75%
4. Royal Sundaram General Insurance Company 4600+ Up to 7.5 lakhs 89%
5. IFFCO Tokio General Insurance Company 4300+ Up to INR 15 lakhs 87%
6. Bajaj Allianz General Insurance Company 4000+ Up to 15 lakhs 62%
7. Reliance General Insurance Company 4450+ INR 15 lakhs 86%
8. The New India Assurance Company Limited 1100+ Up to INR 1 lakh 95.39%
9. SBI Car Insurance 5400+ Up to 15 lakhs 87%
10. Bharti AXA General Insurance Company 4500+ Up to INR 15 lakhs 75%

1. HDFC ERGO General Insurance Company

HDFC ERGO Car Insurance is undoubtedly one of the top-notch motor insurance providers in our country. You get third-party liability protection to cover for loss/damage caused to your car. Moreover, it also gives a personal accident cover. 

Key Features:

  • No claim bonus
  • A vast network of cashless garages
  • Overnight car repair
  • Quick claim approval
  • Unlimited claims allowed

2. TATA AIG General Insurance Company

Tata AIG Car Insurance is one of the most preferred and best car insurance companies in India. They promise to protect and care for your car in the most diligent way possible. It also provides a personal accident cover of up to INR 15 lakhs.

Key Features:

  • NCB discount available
  • Emergency roadside assistance provided for free
  • Discount for Anti-theft device installation.
  • Discount for specially designed vehicles.

3. ICICI Lombard General Insurance Company

ICICI Lombard Car Insurance is one of the most affordable car insurance in India. Besides quick and easy renewals, it also provides quick claim settlements. Their unique add-on covers can be availed at a nominal extra cost to boost the policy.

Key Features:

  • Dedicated network garages
  • 24×7 customer support through call or chat.
  • Instant claim settlements.

4. Royal Sundaram General Insurance Company

Royal Sundaram Car Insurance will provide total protection to your car against unforeseen accidents. They provide several kinds of car insurance policies so you will have plenty of options to choose from. It is interesting to note that they have the highest ICR among all the private car insurers in India.

Key Features:

  • Roadside assistance is provided for free.
  • Discount for Automobile Association of India membership
  • Voluntary Deductible discount
  • Highest ICR.

5. IFFCO Tokio General Insurance Company

IFFCO Tokio Car Insurance is one of the best car insurance companies in India. It will cover any damage caused to your car due to natural calamity, accidents, etc. You can also extend the cover to protect the passengers of the car.

Key Features:

  • Roadside assistance
  • No Claim Bonus
  • CNG/ LPG fuel kit cover available
  • Cashless claims allowed

6. Bajaj Allianz Car Insurance

Bajaj Allianz is one of the best motor insurances you could currently get in the market. Besides being affordable, their plans are flexible and customizable as well. Not only does it provide coverage for third-party liabilities but also covers any damage caused to your car. 

Key Features:

  • Can be issued and renewed online
  • Anti-theft device installation discount
  • Voluntary excess discount
  • Zero Depreciation car insurance cover available.

7. Reliance General Insurance Company

Reliance Car Insurance is yet another well-known car insurance provider. They provide a quick and easy car insurance renewal process. Their comprehensive insurance protects your car against all kinds of damage and third-party liabilities.

Key Features:

  • Renewal without paperwork
  • No claim bonus discount
  • Voluntary deductible discount
  • Automobile Association of India Membership discount offered as well.

8. The New India Assurance Company Limited

New India Assurance has its presence in more than 28 countries all over the globe. It is a well-known four wheeler insurance provider. Besides providing cover for personal accidents, it also covers third-party liabilities and damage caused to your car due to natural causes, theft, etc.

Key Features:

  • No Claim Bonus Discount
  • Towing assistance up to a maximum of INR 1500 available.
  • Cashless claims allowed

9. SBI Car Insurance

SBI Car Insurance is one of the top car insurance providers in the country. Besides covering for accidental damage to the car, it also provides a personal accident cover of up to INR 15 lakhs.

Several kinds of add-on covers are available for you to choose from as per your needs.

Key Features:

  • No Claim Bonus discount available
  • Discount under voluntary excess feature
  • The claim settlement procedure is pretty fast.

10. Bharti AXA General Insurance Company

Bharti AXA Car insurance is a very popular four-wheeler insurer in India. It offers a PA cover of up to INR 15 lakhs. This company provides you three types of options to choose from. Bharti AXA also boasts of its giant cashless network of garages.

Key Features:

  • The policy can be purchased online
  • 24×7 assistance and claim support
  • Cashless claim settlement at all network garages

How to Select the Best Car Insurance Policy in India?

Car insurance is one of the major insurances you will take up in your life. The market is filled with several car insurance companies claiming that theirs is the best car insurance. However, you need to choose as per your needs.

To do the same, you need to consider several aspects of four-wheeler insurance before making a final decision. Given below are the features you need to analyze before coming to a decision:

1. Covers Included

Go through both the inclusions and exclusions of the policy in question. Also, you need to compare both third party car insurance and comprehensive car insurance.

A comprehensive car insurance policy provides much more extensive coverage than third-party car insurance. So, go for third party insurance only if you can pay the car damage expenses yourself.

2. Incurred Claim Ratio

Incurred Claim Ratio gives an idea of the number of customers the car insurance company has satisfied. The higher the Incurred Claim Ratio (ICR) of a policy, the higher the number of satisfied customers. This indicates that the chances of your claim being settled are high.

3. Add-On Covers in a Car Insurance Policy

You should keep this point in mind while comparing different policies. Make sure to compare the add-ons provided by various policies and the effect these have on your premium. The add-ons can be roadside assistance, flat tire assistance, and more.

4. Online Comparison

You will find all information about the car insurance online. So, it becomes easy to compare car insurance online. All the details about car insurance like its ICR, network garages, etc. can be found online. You just need to go through them and choose the one that suits your financial needs the best.

5. Network Garages

There is no point in getting car insurance if the company does not have a tie-up with a garage nearby. So, make sure to check if the insurance company has a lot of network garages. This will ensure that you can conveniently get your car repaired if it suffers from damage.

6. Premium

While comparing four-wheeler insurances, you need to compare their premiums as well. All four-wheeler insurances might not have the same premium. So, go for the one that suits your needs and affordability.

What are the Add-On Covers of a Car Insurance?

Add-on covers of four-wheeler insurance are the added benefits provided to keep your car safe from all kinds of damage or loss. You can purchase several add-ons at the cost of an extra insurance premium.  

Given below are some of the most commonly used car insurance add-ons:

1. No Claim Bonus Protection Cover

The insured is rewarded with a luring discount on their renewal premium for every claim-free year. This reward is known as the No Claim Bonus and it is cumulative that increases yearly. 

The no claim discount could range from 10% to 15%. It will lower your premium rate by a considerable amount and save you a lot of money too.

2. Zero Depreciation Car Insurance Cover

Imagine receiving compensation for your car’s value being depreciated! The zero depreciation car insurance cover makes this possible. So, you won’t be required to pay for the depreciation cost of the car’s parts.

This add-on cover is valid for private cars only and can be claimed at specific times during the insurance tenure. However, the compulsory and voluntary deductibles will be applicable despite having the zero depreciation car insurance cover. 

3. Engine Protection Cover

An engine is undoubtedly one of the most precious parts of your car. So, you must arrange for its extra protection. The car engines can often get damaged due to accidents, waterlogging, oil leakage, etc.

An engine protection cover will compensate for the damage caused to the engine. It includes covering the great box parts, engine parts, and the differential parts as well.

4. Key Protection Cover

Everybody must have lost or misplaced their car keys. Under such circumstances, this cover will provide you with financial help to incur the costs of replacement of the keys.

5. Daily Allowance Benefit

You will be required to leave your car in the workshop to repair it after damage. In this case, you might be required to travel without the car. So, this add-on cover will provide for your daily commute expenses. Note that this is applicable only if the car is kept in the garage for more than 3 days.

6. Consumables Cover

Consumables include screws, nuts, bolts, AC gas, lubricants, etc. These are the perishable items required to run and maintain a car. Sometimes, you might be required to make tend to the immediate needs of the car.

This could drain your savings massively. The consumables cover saves you from such extra expenditure. The claim is subject to a specific number of claims during the tenure and is valid mostly on private cars.

7. Personal Accident Rider

This an optional add-on cover that you could add to your comprehensive policy by paying an extra premium. The insured will receive the cost of medical expenses incurred due to injuries or disability after a car accident.

What is covered in a Car Insurance Policy?

A car insurance policy provides coverage in the following cases:

  • Loss or damage to the insured car.
  • Loss or damage to the car due to an accident, theft, fire, lightning, riots, terrorism, etc. Moreover, it will cover the damage caused due to natural calamities as well.
  • Third-party financial liability in case of injury/ death or property damage in an accident.
  • Personal accident insurance cover.

What is not covered by a Car Insurance?

The following cases of damage shall not be covered by any car insurance policy:

  • Damage caused due to driving under the influence of alcohol or substance abuse.
  • Damage during wars
  • Damage caused when the policy is inactive.
  • Regular servicing to repair wear and tear
  • Damage to tires, tubes, and engines under normal circumstances
  • Damage caused while driving without a valid driving license
  • If it is found that items are stolen from your car.

Factors that affect your Car Insurance Cost

Your car insurance price is not selected randomly. There is a bunch of factors that affect the premium. Given below is a list of the same:

1. Insured Declared Value (IDV)

The Insured Declared Value is the market value of your car and it is set by the car insurer. The IDV can change as the car ages because its parts will depreciate due to wear and time. A general thumb rule is that the higher your car’s IDV, the higher your premium and vice versa.

2. Type of Insurance

Every car insurance policy does not offer the same type of coverage. There are mainly two major types of car insurance policy: Third-party car insurance and comprehensive car insurance policy

Third-party car insurance is the basic one, it covers the damaged property and injuries caused to other people affected by a car accident. This one has a low premium and is mandated by the law. 

On the other hand, comprehensive car insurance covers all sorts of damage caused to your car, to other’s property, any person, etc. This is a more extensive kind of insurance and provides greater coverage than the prior one. 

It comprises of third-party cover, cost of own damage cover, and personal accident cover as well. So, it consists of higher premiums.

3. Add-on covers

The protection provided by your car insurance can be further increased by purchasing add-ons. Naturally, the more add-ons you get, the higher your insurance premium. There is a huge range of add-ons to choose from.

Choose the ones that you can afford and that will add value to the car insurance.

4. Car’s Age

The older your car, the lesser your car’s value becomes. The IDV, as stated earlier, depends on the car’s value. So, if your car is an aged one, then the insurance premium will reduce.

Keep in mind that more age can also make the car riskier and more susceptible to damage. The car insurance companies will often check the car’s health before deciding the final premium.

5. Security Features

The easiest way to reduce your car insurance cost is by installing anti-theft and several other security features. The lower the risk, the lower is the chance of the insurance company having to pay for the damage. So, the better security your car has, the lower the insurance premium gets.

6. Claim History

You get a No Claim Bonus for every year that you don’t claim anything. This is a type of discount you receive on your insurance premium. So, for each year that you don’t claim the policy benefits, you will be paying lesser insurance premiums.

How to Calculate Car Insurance Premium?

The car insurance price is finalized based on several factors. It is quite easy to find out the premium of car insurance via an online car insurance calculator. But, the insurance provider considers the following parameters before deciding on a price for the car insurance:

  • Insured Declared Value (IDV) of the car. IDV= Showroom price of the car + Accessories cost – Depreciation Value
  • Age and Type of the insured car.
  • The cubic capacity of the car’s engine
  • Geographical area
  • The formula for Own Damage (OD) premium amount:

Insured Declared Value X [Car Premium as per the insurer] + Optional Benefits – (NCB/Discount, etc.)

Understanding the Features of Car Insurance

Car insurance includes several covers to protect your car. It’s better to have a clear knowledge about the features of four wheeler insurance. So, given below are some of the same:

1. Cover for liability

If people get injured in a car accident caused by your car, then you shall be liable to provide compensation for the same. Your car insurance will cover this on your behalf. Moreover, it will also cover the damage caused to someone else’s property.

2. Covers personal accident

Car insurance will mostly come with a personal accident cover. This means that in case you die or suffer from a permanent disability after a car accident, then the car insurer will provide you with a compensation amount.

3. Other Services

Insurance companies also provide some extra perks besides providing a cover. The digital insurers are always way ahead and make it possible for you to purchase insurance within minutes. Their claim settlement team will respond within a short period as well.

5. Covers own damage

Mending a damaged car can be very expensive to afford. Your car can get damaged in several ways including fire, theft, accidents, etc. Even the engine can get damaged due to waterlogging. So, your insurance will pay for these repairs and you won’t have to make a hole in your pocket.

6. Add-on Covers

Add-ons are added covers that you can get for extra protection. An extra layer of security is always better. Keep in mind that add-ons can be opted for with Comprehensive car insurance only and not with a third-party liability policy.

What is IDV? How does it affect Car Insurance?

Insured Declared Value (IDV) is the market value of the car you want to get insured. Now, the IDV of your car is subject to change as per its age. The older your car gets, the lower its IDV becomes. 

It’s important to know that your car insurance premium is directly proportional to your car’s IDV. The more the IDV, the more premium you have to pay.

How to Compare Car Insurance Online?

A car insurance price can vary due to a couple of factors. Several aspects like your car’s model, location it will be driven in, its age, policy type, etc. will affect the policy premium. Moreover, the age of your car will be a major deciding factor as well when it comes to premiums. 

Take, for example, a 6 years old Wagon R with a Comprehensive plan with add-ons driven in Mumbai will have a different premium when compared to a 3-year-old one with zero add-ons driven in Kolkata. Your car insurance premium also depends largely on factors like add-ons, the car’s IDV, no claim bonus, and voluntary deductible.

A car insurance cost calculator will prove to be very helpful in this regard. You will be able to get an estimate of your car insurance premium in a matter of seconds. You just need to provide some facts to calculate the same.

These include:

  • Name of the car manufacturer
  • Car model
  • Year of manufacture
  • Your personal details (if you are the owner/driver)
  • State and city of registration of the car, etc.

Now, you can play around by altering the inputs to compare car insurance online and check out different combinations. Then, you can easily choose the one that suits your taste the best.

Benefits of Online Car Insurance Policy Renewal

All car insurances come with a tenure after which they shall expire. To keep the car insurance active and running, you need to renew the policy. A lot of people are more comfortable with the traditional offline car insurance renewal process.

However, the online renewal process is extremely convenient and offers several perks. Here are some of those:

1. It’s Easy and Quick

You just need an internet connection to renew your car insurance online. This way you can renew it anywhere and anytime. You won’t be required to visit the branch of the insurance company or call over an agent. Besides, the renewal procedure is paperless, so you are saved from massive paperwork.

2. Secured Renewal

All the information that you require to carry out a car insurance renewal is available online. The transparency will arm you with an informed decision. 

The payment is always done through secured gateways. This ensures that neither your personal, nor your critical information gets leaked anywhere. So, this safeguards you from all sorts of online frauds.

3. Customization

While renewing your car insurance, you might want to customize your policy to meet your needs better. You will have the option of enhancing it via add-ons and tweak things a little every here and there. 

Keep in mind that the premium will increase when you add some add-ons to the policy.

4. Simple Insurer switching 

It’s very easy to switch your car insurance provider while you are renewing it online. You will get all the information about insurance providers online and so it will be easy to compare. Choose the one that suits you best and you can switch.

Third-Party Car Insurance Vs Comprehensive Car Insurance

The major types of car insurance cover you could get are the third-party cover and comprehensive cover. Deciding which one to choose is the foremost task while buying a car insurance cover. Given below is a table that will highlight the difference between the two:

Sl. No. Parameters Third-Party Car Insurance Comprehensive Car Insurance
1. Definition Third-party liability cover is a basic policy that provides for all the injuries and damage caused to third parties involved in a car accident caused by your car.  A comprehensive cover will cover the basic third-party liabilities and also cover their own car damage. So, it can be thought of as extensive car insurance.
2. Covers Covers for third party liabilities, injuries, and damage.

Also includes a basic personal accident cover.

  • Third-party liabilities
  • Personal accident cover
  • Own damage cover
3. Benefits This insurance is a must. Driving without a third-party cover is a legal offense and can have terrible consequences. Protects your finances by a huge bar in cases of accident or natural calamities.
4. Ideal for People who don’t use their cars much. People who use their cars regularly as this policy provides all-round coverage.
5. Customization Not possible to customize due to its rigid nature. This plan can be personalized by insured declared value, add-ons, security, and more.
6. Premium The premium is more or less the same for all insurers. It increases by a small margin annually. The premium can vary depending on the insurer you are buying the insurance from.
7. Disadvantages Just the basic coverage is provided.  Expensive when compared to third-party insurance.
8. Mandate This one has been mandated by The Motor Vehicles Act, 1989 It isn’t mandatory to get this insurance.
9. Add-ons The only add-on that can be opted for is a personal accident. Can add several add-ons like roadside assistance, zero depreciation, etc.
10. Affordability Cheapest cover because of the limited coverage Expensive because of the extensive coverage provided.

How to Buy Car Insurance Online?

Given below are the steps you need to follow to buy car insurance online:

  1. Decide upon your car insurance requirements and based upon that, you will be able to analyze if you want a comprehensive or third-party cover.
  2. Compare car insurance online and check which one suits your needs.
  3. Try modifying your coverage a bit to explore more options. For a particular coverage, check which insurer offers the best premium price with the best services.
  4. Go through the features and advantages of different policies in detail.
  5. Register after selecting the policy and enter the details correctly.
  6. After making the online premium payment, you will receive the policy confirmation letter delivered as a mail within minutes.

How to File a Car Insurance Claim?

If you own car insurance, then at one or the other point, you will be required to file a car insurance claim in case of any loss or damage. Given below are a few points that you need to consider while claiming car insurance:

  1. Time and date of the accident in which your car was involved.
  2. Driver’s name along with his contact details and driving license.
  3. Car Insurance policy number
  4. Estimated loss incurred
  5. Brief description of the accident
  6. Survey location
  7. Contact details of the insured
  8. Provide the claim intimation at the customer help desk who will then take you through the entire claim process.
  9. Once you have informed the insurance company, they will give you a claim reference number.
  10. After claim registration, you will be assigned a surveyor.
  11. A confirmation notification text will be sent to you which will also contain details of the loss assessor.
  12. The surveyor will investigate according to your convenience
  13. You might be needed to provide certain documents to the loss assessor.
  14. You might be needed to coordinate with the surveyor again in case of re-inspection.
  15. As per the survey, the claim settlement will be processed.
  16. The claim will be settled within a week after the submission of all the documents required.

You may also like: Smart Tips To Make A Successful Car Insurance Claim

Documents Required While Filing a Car Insurance Claim

A car insurance claim might need some documents to process the claim:

  • Police FIR copy
  • Duly signed claim form
  • Fitness certificate in case of commercial vehicles
  • Your driving license
  • Car Registration Certificate (RC)
  • Insurance documents along with the endorsement

Final words:

You must have realized how easy and convenient it is to buy and renew a four-wheeler policy online. Besides, it has multiple other benefits associated and this article has attempted to shed light on the same. Our list of best car insurance compiles some of the top-rated car insurance policies in India. 

We hope that the above information helped you gain valuable insight into car insurance and related topics. Let us know your thoughts below!

Car Insurance FAQs

Q1. How can I renew my car insurance?

Ans. You can renew your car insurance either online or offline. The online method is more convenient since you can do that anywhere and anytime. 

To renew car insurance online, first, you need to visit the website of your car insurance company, then you need to sign in. Then, enter your policy registration number and click on the car insurance renewal option.

You can make some updates to your policy now. After confirming the details, you can choose add-ons and then, you’ll be shown the final premium amount. Confirm all the details and pay the premium amount. 

Once the payment is successful, your car insurance renewal is complete.

Q2. What are the different types of car insurance available in India?

Ans. There are two major types of car insurance available in India: Third-party car insurance and Comprehensive Car insurance. The former provides basic coverage and the latter is a much more extensive one.

Q3. What documents are needed to apply for car insurance?

Ans. If you want to buy car insurance online, then zero to minimal documentation is required. Generally, you need the following documents to purchase four-wheeler insurance:

  • Registration number of your car
  • Engine number
  • Previous policy number
  • Date and city of purchase
  • Contact details of the driver, etc.

Q4. Why is it important to have my car insured?

Ans. Third-party liability car insurance is the mandatory insurance for all car owners. Otherwise, you will have to face terrible legal consequences. Also, car insurances are important because they provide cover for all kinds of damage to your car.

Q5. What will happen to my car insurance policy if I move to a new place?

Ans. Your four wheeler insurance won’t be affected much if you move to a new place. You will be required to change your contact details, like your address, and number. Such formalities can be done by visiting the nearest branch of the insurer. 

The premium of your car insurance can also be changed as per the city you are moving to. This is because the premiums vary as per the location you will be driving the car in.

Q6. Do online insurers charge less cost for car insurance?

Ans. Yes, online insurers do charge less for car insurance. This is made possible by lower operating costs of online insurers. They manage their procedure digitally and have to spend less on the business. This way they can easily keep their insurance prices lower than the usual traditional counterparts.

Q7. What will happen if I lose my online car insurance?

Ans. If you lose your online car insurance policy somehow, then you can reconnect with the car insurance provider. They can resend the policy, else you can also log in to their website and download the policy from your account.

Q8. Can I transfer my NCB?

Ans. Yes, you can! In case you have accumulated NCB, then while renewal of your four wheeler insurance, you will have the option of transferring it. The transfer has to be done within 90 days of the car insurance renewal due date. In case, you also wish to change your insurance provider, then also you might want to transfer the accumulated NCB discount to the new insurer.

Q9. Will my car insurance premium increase if I take add-ons?

Ans. Add-ons provide an extra layer of protection to your car but that comes at a price. You need to pay an extra premium to enjoy extra features.

Q10. Will my insurance premium decrease if I don’t raise a claim in the last policy tenure?

Ans. Yes, your car insurance price will reduce upon renewal if you don’t raise a claim in the previous policy term.  This is possible if you have not raised a claim in the previous policy tenure.

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