Check Car Insurance
What is Car Insurance?
Car insurance, also known as motor or auto insurance, is a policy that provides financial protection if your vehicle is damaged due to accidents, natural disasters, or theft. With a comprehensive car insurance policy, you'll have financial security in case of any vehicle losses due to unexpected circumstances. Additionally, a private car insurance policy covers third-party liabilities, ensuring compliance with legal requirements.
Different Types of Four Wheeler Insurance Policies
Third-Party Car Insurance Policy
A third-party liability four wheeler insurance policy covers financial liabilities when you accidentally damage other people's property or cause injuries/death of a third party. This policy is mandatory as per law; however, it does not cover damages to your car.Note: Third-party car insurance premium rates are revised per the IRDAI circular dated 25 May 2022.
Comprehensive Car Insurance Policy
The Comprehensive car insurance plan includes all the coverage benefits of the third party plan. Additionally, this plan covers damages to your car caused by accidents, calamities, fire, rat bites, and theft of the insured vehicle. You can also opt for add-on covers to enhance the policy coverage.
Standalone Car Insurance Policy
Third-party liability car insurance cover proves to be inadequate when it comes to damage to your car from accidents, natural disasters, fire, or theft. Such coverages are provided under an own damage Insurance policy.
Zero Depreciation Car Insurance Policy
This four-wheeler policy provides all the coverage benefits offered by the comprehensive plan. Additionally, it covers 100% of the cost of the car parts if a part needs to be replaced during repair. In other words, this plan will cover the depreciation cost incurred by car parts and offer you the maximum claim amount.Third-Party Vs Comprehensive Car Insurance Policy
Here's a comparison of comprehensive and third-party car insurance policies.
| PARAMETER | THIRD-PARTY CAR INSURANCE | COMPREHENSIVE CAR INSURANCE |
|---|---|---|
| Meaning | Third-party car insurance is a basic law-mandated policy that covers third-party liabilities. | Comprehensive car insurance is an optional policy that provides coverage against damages to your car and third-party liabilities. |
| Coverage | Damages to third-party property/vehicle and injury/death of a third party. | Third-party property damages, injury or death of the third party, and damages to the insured car due to accidents, natural/manmade calamities, theft, etc. |
| Premium | Low premium | Higher premium due to extensive coverage. |
| Add-ons | Not available | You can opt for add-on covers. |
| Legally Mandatory | Yes | No |
Before You Buy Car Insurance, Remember These Key Points.
Policy Coverage
Check what's covered and what's not in the insurance policy to understand your options. Pick the right type of policy and coverage to make sure you're well-protected when you make a claim.Add-ons
Think about getting extra benefits with add-ons for a reasonable cost. Take your time to consider each add-on and choose the ones that fit your needs best to keep your car safe from accidents.Service Benefits
Look for helpful features like cashless garages, easy claims processing, and reliable customer support to make things easier for you.Insured declared value (IDV)
Choose an IDV close to your car's market value to ensure you're sufficiently covered when you make a claim, even if it means paying slightly more for your premium.
Why is it important to buy car insurance?
01
Car Damage
Your policy protects you financially if your car is damaged in accidents, fires, or natural disasters.
02
Personal Accident
You're covered for permanent disability or death caused by accidents, with up to Rs. 15 lakh coverage.
03
No Claim Bonus
You get discounts on renewal premiums for every claim-free year, up to 50%.
04
Theft Protection
If your car is stolen, you're compensated with the Insured declared value.
05
Death Benefits
Dependents receive lump-sum compensation in case of the insured's demise due to an accident.
06
Time and Hassle Savings
Repairs are less of a hassle with an active policy, and online processes make buying, renewing, and claiming easy.
07
Legal Compliance
It's the law to have car insurance, protecting you from penalties and financial burdens.
08
Third-party Liability
Protects against financial burdens from damage or injury caused to third parties by your car.
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Key Benefits of Buying Car Insurance Online
More Economical
Comparing car insurance online allows you to find the most cost-effective policy for your needs. It's essential to compare similar types of car insurance policies to make an informed decision.Paperless Transactions
Buying car insurance online eliminates the need for paperwork. You can answer basic questions about yourself and your vehicle, select the desired coverage, and complete the transaction without any physical documents.Instant Policy
Unlike offline purchases that involve lengthy paperwork processing, buying car insurance online results in instant policy issuance. Your information is processed immediately, and you receive your policy without delay.More Convenience
Online car insurance purchases offer remarkable convenience. You can buy insurance at any time, even in the wee hours of the morning, from the comfort of your home. The entire process is smooth and easy.Easy Credibility Check
Checking an insurance company online is easier than doing it offline. Before buying car insurance, you can go to the insurer's website to see their incurred claim ratio, how they handle claims, and how long it takes to resolve them. Reading reviews from other customers also helps you judge the insurer's reliability.
Frequently Asked Questions
Comprehensive insurance gives full protection for your car. If your car is old, a third-party policy is good because it's mandatory and cheaper.
New car insurance costs more because the car's value is highest at the start. As the car gets older, its value drops, and so does the insurance cost. Also, people often add extras that raise the price.
You can lower your insurance cost by choosing a higher deductible, adding anti-theft devices, earning a no claim bonus, avoiding unnecessary extras, and comparing insurance plans.
It only takes a few minutes. Just go to Insurance Dekho, enter your car details, and contact info, and pay the premium for your chosen plan to get your policy instantly.
No, they're the same. The only difference is how you get them - online policies come to your email, while offline ones are sent by post.
Check your policy document, contact customer care.
You can pay online using UPI, credit/debit cards, or net banking.