Car Insurance is for protecting your vehicle from unforeseen risks and also covers auto insurance or motor insurance. It provides protection against the losses incurred as a result of unavoidable insurance. The insurance premium depends upon certain parameters like car value, coverage type, vehicle classification, volunteers’ excess, etc. this policy gives the confidence to drive peacefully in emergencies. It seems to be a boon to the insurance holder. Figure out the best insurance policy and satisfying your requirements and being cost effective can be time-consuming.
Insurance is a mutual agreement that an individual purchases from an insurance company. Every insurance company protects you and other people from any kind of risk that may happen in the future. There are different types of insurance available in India like life insurance, health insurance, vehicle insurance and more.
Vehicle insurance includes motor insurance, auto insurance, two-wheeler etc. The motor insurance covers for damages that might incur if your car gets damaged due to an accident or stolen.
Why do people feel car insurance so important? Every state, car insurance is required for drivers. It can afford to pay the cost of an accident. There are many reasons to buy car insurance.
Pay now and save Later: Generally, car insurance protects you and your family from huge expenses. Now, if you are investing a small amount in your own protection, you can avoid costly expense in the future.
Protect Yourself and Others: Choose the right one, it helps you to protect you and your family members, passengers, and other drivers. You may get a car insurance quote from online to learn how to protect yourself and family.
Save Time: The incredibly time-consuming and tedious thing is to fallout from the car accident. The car insurance helps to avoid negotiating with other drivers and also managing the repairing cost or replacing your vehicle.
Opting for the best car insurance that can help with vehicle towing, repairs, replacements and covering the costs of damages. If once you make an insurance claim, the insurer will manage the process and give more support.
Peace of Mind: Everyone makes make, sometimes another person’s mistakes can become your problem. You can feel confident with the right car insurance.
Buying an insurance policy for the first time? More companies offer a large number of products for the customers. So, you may choose the good policy coverage to cover your driver specific, vehicle specific, driving conditions specific and third party specific need in an efficient manner. The car insurance coverage is directly proportional to the premium car coverage. That is the insurance coverage increases, as well as the premium also increases.
Here the types of coverage have listed below:
1. Third -Party Liability Coverage- When you are at fault, the third-party car insurance coverage will cover against legal liability to a third party. With the third party insurance policy, you can get coverage against some unfortunate events that lead you to heavy expenses that led to damages, injuries, or death of a third party. In this case, your insurer to pay for those expenses due to that incident.
As the name recommends, this policy doesn’t cover any damages, injury, and death of the first party.
2. Comprehensive Coverage- A comprehensive policy covers all types of risk factors that are related to your vehicle, passenger, driver, third party vehicle, third-party driver, third-party vehicle passengers and third party property too.
The insurance policy coverage includes the following risk factors:
This coverage contains various aspects which are the outside concept of the collision of the vehicle. You can be bought the policy as per your budget.
With the comprehensive coverage plan, you can reduce the insurance premium quoted by installing theft devices and some security enhancement gadgets,
You Fulfill Legal Requirements- According to the Indian Motors Vehicle act, the third party insurance is mandatory on all the vehicles. Choose the comprehensive car insurance plan that helps remain in compliance of regulations and you will feel free too.
You can Bear Accidental Damages- If any accidents happen, you can claim expenses and bear the accidental damages without paying money from your own pocket.
Third Party Cover is Very Important- By claiming the third party insurance, you can bear any damage or loss like you cause damage to another person’s car. It covers both hospitalization and legal expenses.
Car Damage due to Natural Calamities are Covered- The car insurance is more beneficial to everyone. When your car is damaged caused by fire, theft, flood or earthquake, then your car insurance handle to claim for the damages.
You can Claim Against Theft and Vandalism- You may prefer comprehensive car insurance that offers you coverage against theft and vandalism. So, don’t worry, if your car gets stolen. The car insurance plan will help you to get your hard earned money back.
Enjoy No Claim Bonus- Sometimes, you may not face any bad situation; you can also get no claim bonus to not fitting car insurance claim. By this no claim bonus discount, you may buy next car insurance with cheaper than other.
All our Indian states required to have a minimum amount of insurance that can help you to reduce the loss of huge sum in the following manner:
While accident result in death, it benefits to survivors
Here, some major benefits are listed below
Zero Depreciation- Zero Depreciation is considered as the add-on car insurance policy that covers full settlement without any write-off for depreciation. It offers full claim policy for a premium amount that is higher than a normal car insurance policy. Especially, this coverage opted for mid and top-segment expensive and luxury cars, because most people prefer the superior cover to get optimum benefits.
No Claim Bonus- No Claim Bonus is a discount given by the insurer to the policyholder for making no claims. It is the perfect one to reduce the insurance premium. No claim bonus is only available for the people who haven’t claimed insurance while the preceding year of cover.
With the NCB, you can transfer to a new vehicle. So, you can change your vehicle at any time in the future. It helps to reduce the renewal premium which depends on the number of claim free years.
Roadside Assistance- This car insurance policy gives more beneficial to all when you don’t have any kind of roadside or towing package.
As well as the insurance provides services when your cars break down, they will send someone to help you like flat tire changed, you need gas, your car towed and more.
The repair and roadside expenses are covered as per your policy limits.
Invoice Cover- This plan coverage is only applicable up to 2 to 3 years from the date of car registration. In case, you meet the result as a total loss, the insurer will pay you an invoice amount of new car.
Replacement Cover- People need to repair or replace their cars that depend on the accident severity. The car insurance gives protection to save them from the significant costs due to accidents.
You can receive the compensation when your car is totaled. Totaled is considered as if floods in places and it will destroy your vehicle’s mechanical parts and if there is much damage.
Coverage Against the Loss or Damage to the Insures Vehicle- This coverage plan protects the insured financially against your own car damage. The insurer helps to pay the insured for damage due to an accident. The damage and loss of the car happen due to the theft or vandalism which is not included in the collision coverage.
Personal Accident Cover- The Personal Accident Insurance policy covers death or disability caused due to the accident. This insurance policy is essential for the owner-driver as per the tariff. So you no need to pay the extra premium.
You can purchase the Personal Accident cover separately by paying an additional premium.
You may the compensation amount depends upon the extent of your chose cover.
Compare Type of Car Insurance- It is necessary to compare the type of car insurance plans because it will help to save your substantial amount of money and give you a better coverage option. The car insurance plans differ by product, so you should remember some coverage list while comparing the type of car insurance plans.
Compare Car Insurance Companies- You can compare the policies from the branded companies. To choose the right car policy as per your need and convenience, so compare some premises for the best deal. Check if the company offer discounts when you buy the policy. Compare all the companies which one gives you the most discounts for your car.
As well as you can compare which companies offer the add-ons you want and make your decision according to that comparison.
Compare Car Insurance Plans- While before buying the car insurance plan, you should compare car insurance plans side-to-side on aspects like premium, IDV, add-ons available, deductible, discounts offered and more. This is the best way of finding the right policy. Some companies make the evaluation process easier and help to choose the suitable plan for your car.
Compare Car Insurance Premium- Compare the car insurance premium breakup by various insurance companies. You need to check if the Insured Detected Value is best enough to protect yourself from total damage or losses of your car due to either an accident or car was stolen. In this case, Car Insurance quotes may increase or decrease. By using a car insurance calculator, you can calculate the premium of the car.
Compare the Best Car Insurance Plans- Do you want to buy the best and beneficial car insurance plan?
Don’t worry; we are here to help you. So you need to compare the plans by check some aspect such as tow services, premiums, high garages, customer support, and accidental benefits too. You should compare the insurance premium that is offered by various insurers to get the best deal.
Compare the Best Companies of Car Insurance- Nowadays, there are plenty of reputed insurance companies provide the best plan for low premiums. Compare the best insurance companies to get the best deal for your car. Check the topmost insurer companies based on their incurred claim ratio and Grievance settled. The top reputed car insurance companies are Bharathi AXA general insurance, Future General India Insurance, Liberty General Insurance and more.
Compare the Benefits of Car Insurance- Don’t forget to compare the prices and benefits of car insurance. Because every car insurance companies charge various costs as well as provide several benefits. So you should compare the benefits of coverage with other plans.
Compare the Features of the Car Insurance- While before begin with comparing the insurance plans, you should know about the important features based on your needs. If you compare the feature, you would recurring annual expenses and get huge saving in the premiums. Comparing aspects are
How to Buy Car insurance Policy online- Buying Car Insurance online is the easiest one than you think. Get online quotes for car insurance in a few minutes on the purchase of new policies or renewal car insurance policies.
You can purchase policies directly from any reputed insured website. On the other hand, you can buy those policies from an insurance broking portal. The Broking portal service helps you to show policies from various aspects which are the best way to buy online car insurance policies in India, because, broking portals provide you with a variety of choices and guide you thoroughly. So you pick the better one that meets your requirements. If you feel trouble with finding the best and cheap car insurance plans in online, you may go for Quickbima to make the right decisions.
Just fill the application form, get top and best car insurance quotes and then compare the policy online as per your needs and you can get insure your car in a matter of minutes.
When to Buy Car Insurance- Purchasing your best car insurance plan immediately is likely to get you the cheapest price from the plan comparison. You should insure your car on time and drive with complete peace of mind.
From Where to Buy Car Insurance- Everyone must buy a good car insurance policy from reputed and trusted companies. Buy the insurance policy from companies which offer the best tow services, low premiums, claim settlements and more.
Things to do Before Buying Car Insurance- Buying an insurance policy is important to pay attention to the reputed insurance company. You need to check the company’s review, record and claim ratio.
Don’t consider an insurance company with bad claims.
Mostly, online companies offer you the cashless services when your vehicle was repaired only in a network garage. So you should look for insurers who had maximum network garages in their list.
Buying Process of Car Insurance- After deciding to buy car insurance, you need to know about the process of getting a car insurance policy. Just follow the steps are listed below:
Fill those details carefully in your application form and acquire the best insurance plans that fulfill your needs at the best possible car insurance rates.
Documentation- While buying the car insurance, you should know all the information exactly about what you provide and what documents you may need to bring. You need to bring the following documents,
As well as you should bring the address proof. Renewal policy documents, for verification.
Terms and Condition- The important thing about insurance is that you need to know the features and services of car insurance plans. Go through the insurance quotes from the website. These will help you to provide personal accident cover and other extra coverage to save you from financial problem. You should read the policy document, the proposal, the policy schedule, certificate and other conditions of car insurance that form the contract carefully.
Quickbima helps to reduce the premium rates that ensure you get the best car insurance policy. As well as if you want to buy a car insurance policy online, then we assist you in every possible way. You can get the car insurance quotes from insurance providers for getting more discounts.
We are here to help you to choose the policy, then compare and buy the best available policy that meets your needs. Additionally, if you get privileges for online comparison, it helps in simplifying the process.
We offer easy steps to buy a plan that is,
Quickbima helps you to make better decisions while choosing your car insurance policy. It is easier and convenient to buy car insurance or motor insurance plans via Quickbima.
Insurance is the primary thing of defense against the unforeseen events that could give potential impact to your set of wheels. It is an essential one and more responsible option to protect yourself, your loved ones and your car against some accidents.
Renewal Before the Policy Expiry- Lapsed or a Break in policy means if you are renewed your insurance policy before its expiry date. Expired car insurance is not viable for two important reasons
So, you should renew your car insurance on time.
Renewal within Grace Period- Car insurance policies have different terms and conditions offered by Car insurers. Most of the companies give you the grace period which means, they give some time to pay renew your policy after expiry date ends. The grace period range between 3 and 30 days and few companies impose a late fee.
Renewing your policy after expiry date, here are some steps
Renewal with the Outside Grace Period- Are you failed to renew the policy within a grace period?
No worry about your car insurance dies. Yes, Of course, this is the significant loss of time after the expiry date. Now, you may not be able to renew with same insure, because you are not eligible for that. So, you have to buy a new policy.
Furnished details for Car Insurance policy renewal
Online Policy Renewal- Remember that to renew car insurance before it expires. You can renew the car insurance at any time online. You can get the insurance course even renew the car insurance. If you renew your insurance for old car, you can consider car insurance policy online. It helps you to save more time and more convenient.
Mode of Payment- For Car insurance renewal plan online, they have online payment mode, so you may pay via net banking, credit card and debit card.
Policy tenure- insurance policies are issued for some period of time like 1 year, 2 years, after you should renew your policy. If you have policy tenure of your car, you are eligible for No Claim Bonus.
Check Insured Declared Value- First, you need to know about the NDV which means maximum sum assured is fixed by the insurance provider that is provided on theft or total damage of the vehicle.
Generally, NDV is the current market value of the vehicle. If the car suffers total damage, NDV is the compensation that the insurance provider will give to the policyholder. You must check the NDV while renewing your insurance policy. Less IDV attract fewer premiums.
Evaluate your cover- If you have third-party car insurance plans, you may consider a comprehensive policy. It helps you to cover against costly expenses of your car repair and replacement due to an accident.
Know Your Add-ons- It’s time to know how add-ons can help you during claims. If your car’s age is below 5 years, you may choose the plan like Zero Depreciation or Return to Invoice or Engine Protector.
Check all the Information- You should get compensated in case of any loss. You should re-evaluate your car’s Insured Declared Value against premiums. By using IDV, you may get the best price. You must check the claim ratio of your previous insurer. So, don’t skip it. Make sure the cashless garages located near your area that would offer repair services for your car.
You should check if you have got all the discounts or not. Here, deduction represents the amount you will have to pay every time while before the claim.
A Car claim settlement is a process where the insurers ask the car insurance company to compensate for the damages which are sustained by a car after an accident. Do you know driving? If you drive a car, there is a chance that you may be involved in an incident that damages your car. In this case, you should follow some steps to get your car insurance provider to reimburse for the damage.
Claim Registration- Claim registration is undertaken by the police and insurer that they help you to find your car which you need to submit some reports to them. You can claim either theft claim or original claim. If your vehicle isn’t found within 3 months, ask the non-traceable report from police.
Send Your Vehicle for Repair- If an accident happens, take your car to the garage or towed to avoid the damage. The surveyor inspects your vehicle damage and provides an approval report after the assessment.
Original Claims- The original claim is considered as the accidental damage or loss. If you get involved in an accident, your insurers pay for the car damage. That means your car insurance policy needs to cover own damage.
Theft Claims- If your car is stolen, you should go for a theft claim. Give complaint to the local police station immediately without wasting time. Then, visit or call the insurance provider office and inform about the theft. As well as call the RTO and inform about the car theft
Then fill the claim application form, and giving the information such as vehicle registration number, police number, RC number, date time and a small description of the incident.
Registration Certificate copy of the insured’s- To claim your car, you need to submit a copy of the Registration certificate, because it is one of the mandatory documents.
The true copy of the police report- If you want to file a claim on the third party, you need a copy of the police report or FIR at the local station in the accident spot.
Pan Card or Driving License- You should submit the copy of the driving license for claim verification.
Documentation required of Car Insurance- For buying car insurance, you should require minimal documentation. Are you a new customer for car insurance? You just submit the filled proposal form and also bring the copy of the Registration Certificate.
On the other hand, if you want to renew the policy, you need a copy of the Registration certificate and bring a copy of the previous insurance policy as well. Be careful while filling the details which are essential and save you a lot of hassle during claim time.
Claim Settlement- One of the most crucial parts of the insurance policy is claim settlement. That’s why everyone wants hassle-free claim process and easiness of any plans. Each insurance company has its own procedure and it varies depends on the product. Then you need to compare the claim settlement process for your car insurance plan and opt for the good plan that suits you and enables a faster claim settlement.
After completion of the car damage assessment, you will pay the payment to the garage directly. You have to pay only the excess as defined in policy assessment.