A car is an expensive thing to own. One needs to put their savings as well as take loans in order to buy a car. There is a saying, “Man makes plans . . . and God laughs.” This means that most people make plans without knowing what the future holds. In this case, there is no certainty when the car might be stolen or destroyed in an accident or calamity. If any of these things happen, all the investment will be lost in an instant.
Why should you get an online car insurance?
First of all, in India, it is mandatory to get a vehicle insured. This protects you from incurring a heavy loss in case your car gets stolen, destroyed in an accident or breaks down. In addition to theft and accident, car insurance also protects your vehicle against fire, explosion, riots, terrorist attacks, and natural disasters. Online car insurance can be the best thing you can gift yourself for a safe ride.
What are the features of car insurance?
- Risks covered are an important factor to take care of when buying online car insurance. One should check the things against which the policy provides cover before signing the deal. This includes both man-made and natural disasters.
- The insured value of the car is quoted by the manufacturer and it reduces as the vehicle gets older. According to Motor Vehicle Act, 1988 any damage to third party property is covered up to INR7.5 Lakhs for a car (4 wheelers) and INR1 Lakh for 2 wheelers. There is no limit for the injury/death of the third party.
- The premium that you need to pay for your car depends on several factors. Some of the primary ones are the vehicle type (model, age, fuel used), city, the profession of the owner, the age of the owner and the modifications made to the vehicle.
- Premium Saving options such as no-claim bonus (NCB) allow you to avail a discount on the premium amount if you haven’t filed a claim during the previous year. This discount increases after each year and can stack up to 50%.
- You can avail add-ons to enhance the policy and include aspects that aren’t covered by the regular policy. These include no-depreciation policies, no-claims bonus, and other features.
- Like many health insurance policies, vehicle insurance provides cashless facilities in case you get your vehicle repaired at their authorized facility.
- The policy is portable which means you can transfer the policy without losing any non-claim policy that you are eligible for.
Note: The insurance policy doesn’t cover any damage caused due to normal wear and tear, depreciation, mechanical or electrical failure, using the vehicle for any purpose it isn’t made for, if the driver of the vehicle doesn’t own a valid license or if the accident occurred when the driver was under influence of any drug or alcohol.
Which Website Offers the Simplest Way of Buying Insurance?
In case you are planning to buy an online car insurance then you should try these websites as they are some of the best when it comes to car insurance.
Bajaj Allianz General Insurance Co. Ltd.
In India, Bajaj Allianz is one of the top-most private insurance companies. It is rated as one of the best in terms of customer satisfaction, cashless claim settlement and several other features in its policies.
Some of its features are: Online purchase on EMIs, Doorstep surveyor facility, 24X7 Towing assistance, Instant SMS Updates on Claims and Cashless settlement at 1500+ network garages.
HDFC ERGO General Insurance Co. Ltd
HDFC is a great brand when it comes to buying vehicle insurance. It has the highest claim settlement ratio amongst the private firms when it comes to vehicle insurance. HDFC ERGO is ISO 9001:2008 certified and has received a rating of iAAA from ICRA.
Tata AIG General Insurance Co. Ltd.
The insurance company began in 2011 and became one of the dominating firms when it comes to online car insurance. Thanks to its hassle-free claims. It provides free car pick up, the warranty on repairs, 7-day claim settlement among other features.
Is There Any Website That Offers Hassle-Free Insurance?
Almost all the websites offer Hassle-Free insurance; but in case you are looking for a fast and reliable response, then Bajaj Allianz would be the best option. There are two types of policies, the comprehensive and third party that this company provides. In third-party policy, which is mandatory, the company covers the injury/death of an individual (third party) or damage to their property caused by your vehicle. It includes a compulsory personal accident cover for the vehicle owner/driver as well. This doesn’t cover any damage to your vehicle.
The comprehensive policy covers the loss or damage to your vehicle. This covers damage caused by any third party or by the owner themselves. This is not a mandatory policy but one should avail it and not leave things to chance. Get the insurance that suits you the best, but first and foremost, drive safely and responsibly so that a need to claim insurance never arises.