Faqs While Buying A New Car Insurance

  • The biggest joy for adults is when they get their first car. Whether a Nano or a Jaguar, the pride and excitement of the RC book match by only a few other achievements. You take care of your car, but time and usage wear it down, resulting in greater responsibilities. Being confident about your driving skills is essential, but that does not guarantee passenger safety. Car Insurance covers all the expenses and unfortunate events like theft, vandalism, etc.

    The Motor Vehicle Act has made it compulsory for all vehicle owners to buy the policy. Here are some FAQs:

    What type is suitable for my needs?

    The journey of finding suitable Auto Insurance begins with assessing your needs and ends with approving the OTP to finalise the transaction. The question that arises is the policy type.

    Third-party liability coverage

    The law has made this Car Policy mandatory to protect third-party rights. It financially safeguards you from any liability caused to a third-party in case of accidents. Your provider compensates the third-party owing to any injury, disability, death, or property damage caused due to your vehicle.

    Comprehensive coverage

    Comprehensive Four-Wheeler Insurance covers third-party liability and any damages caused to your car. This plan covers losses caused to your vehicle due to human accidents, natural calamities, and theft.

    Standalone own damage coverage

    The IRDAI or Insurance Regulatory and Development Authority of India allowed vehicle owners to get a standalone policy in 2019. Buy a third-party policy cover from one insurer and a policy to cover your vehicle’s damage from another. Get a Comprehensive or Third-Party with a standalone cover for peace of mind. You need not worry about parking in an unsafe space or dents caused by others’ reckless driving. Buy the coverage based on your needs.

    Which plan is best?

    The premium to buy Car Insurance online depends on various factors, including the four-wheeler’s make and model. Your due diligence includes comparing the different policies based on the network of cashless garages, the premium, brand reputation, and claim settlement ratio. The price differs across policy issuers.

    What add-ons are ideal?

    Specific add-ons are available with Comprehensive Car Insurance Renewal, such as Zero Depreciation cover, Engine Protection, Personal Belongings cover, Roadside Assistance, Consumables cover, Key Loss cover, Tyre Cover, etc. Consult your policy provider to understand them.

    How to buy the plan?

    You know your requirements and the IDV at the final stage. Pay the premium through the website. Enter the necessary details like make and model, engine number, chassis number, details of the RTO, etc. After verification, you get the go-ahead from the Insurance provider for payment.