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Car Insurance
Car insurance is for every car owner who wants to live without the burden of financial instability. You can get a new car insurance policy online. Gone are the days when insurance agents visited you and filled you with irrelevant and unnecessary information. We will discuss car insurance, so you save time and get the best car insurance policy for yourself.
What is Car Insurance?
Car insurance is a legal contract between the insurer and the insured that makes the insurance company liable to cover any damages to your car in case of an unfortunate event. Third-party Car insurance is mandatory in India under the Motor Vehicles Act, 1988.
A car insurance policy works as a cover for your car and the family. The government of India has made it compulsory for all car owners to have a car insurance policy. This is the best solution to ensure the financial liability of an accident or calamity.
What is Car Insurance Premium?
A car insurance premium is a monthly, quarterly, half-yearly, or yearly payment that you make to the insurance company in order to get the benefits. Car insurance premium depends on various factors and is different for different people, and you can check the same on our website under the car insurance premium calculator. But, before that, let us check out factors on which the premium depends:
1. Loss or damage to third-party leading to ailment
The coverage covers any loss or damage to a third party caused by the covered vehicle's infirmity. The compensation varies depending on whether the disability is partial or whole. As a result, an old car will have a lower IDV, which implies that the car insurance premium for insuring it will be lower than the premium for a new car.
2. Model/ Variant of the Car
The insurance company will decide your insurance premium depending on the car version. For example, if you have a sedan, you will have to pay more insurance premiums than a hatchback.
3. Add-ons
In an insurance policy, you can get additional benefits, and the more benefits you add, the more will be the premium. So, you must choose the right add-ons and take care of the money.
4. No Claim Bonus
If you haven't used the car insurance policy for its term, you will be eligible for NCB. This will lead to lower premium rates at the time of renewal.
5. Anti-theft Gadgets
If your car is equipped with an ARAI-certified anti-theft system, you may be eligible for a premium reduction. Do not pass up this opportunity! These gadgets not only keep your car safe but also lowers the premium.
How to Renew Car Insurance Online
Gone are the days when car insurance renewals were done offline. You can renew car insurance online without any hiatus in this new era. Depending on a company's coverage and discounts, one can choose the best available option per the requirement.
Enter the car insurance renewal section
Fill in the details like age, DOB, etc.
Select the best car insurance for you by comparing car insurance policies
Add riders, if you want any
Calculate the premium using the car insurance premium calculator
Make the payment
Post following the steps, .you will receive the car insurance document online on your registered email address.
Documents Required to Raise a Car Insurance Claim
Several documents are needed to raise a car insurance claim. It's crucial to keep it with you, as you never know when you will require them.
The documents needed for car insurance claims include
Claim Form
Copy of FIR
Copy of RC, driving license, pan card, etc.
Insurance documents
Declaration of fitness.
The car insurance company will settle your claim within a week after receiving all relevant documentation.
