It is a wholly-owned subsidiary of Kotak Mahindra Bank, one of the most popular private sector banks in India. This cover is mandatory by law Indian Motor Vehicles, Act It does not separately cover damages caused to your car and damages caused to you due to an accident or incident. This plan provides complete cover against all types of manmade and natural disasters along with third-party liability.
You also have the option to customize your plan with various add-ons for enhanced protection. This is one of the best types of car insurance plans as it covers damages caused to your vehicle and you along with damages caused to anything related to third party.
There are plenty of good car insurance companies in India. NO, car insurance companies in India do not require your proof of marriage for buying a car insurance plan. It is advisable to check the claim settlement ratio of the insurer. NO, car insurance companies do not operate on Saturdays and Sundays. But you can always file a claim 24x7 through their dedicated helpline number.
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Rate Story. Font Size Abc Small. Abc Medium. Abc Large. ET Spotlight. Insurance companies in India offer a plethora of car insurance plans that cater to the specific needs of the buyers, but choosing the right policy can be challenging. In India, insurance companies offer different plans with different features, and these plans come at various price points. So, it is important that you do your research well before picking the right insurance policy to best suit your needs. Here are a few tips that should help you: Know your needs Before you start looking for the best car insurance and the best insurance company, assess your needs and know the type of policy you want.
In India, there are two types of car insurance policies — Third-party Insurance and Comprehensive Insurance.
This article is generated and published by ET Spotlight team. You can get in touch with them on etspotlight timesinternet. Read More News on Articles on affordable Car Insurance policies articles on best insurance policies articles on car insurance Articles on Insurance companies articles on insurance policies.
Your legal guide on estate planning, inheritance, will and more. Lower premium value Higher value compared to traditional coverage Purchasable for cars less than 15 years of age Purchasable for cars up to 5 years of age All costs incurred are shareable between customer and insurer All costs incurred are borne by insurer. Once the inspection request is logged online, how long does it take to get the car policy? It depends on the insurer.
You may get it in a day or two, or the process can take a week. In case of my job and place change, what happens to my motor policy? The policy will remain more or less the same, but the premium may change depending on the city to which you are moving. This is because the insurance rates differ based on the registration zone of the car. Metro cities usually have a higher rate of premium than the rest of the country.
In case of job change, just inform the insurer so that the details are updated. In any case, you need to update your contact details i. How do I get a copy of my car insurance policy online? Will the printout of the softcopy serve as the original document?
Visit the official website of the insurance company and select the option to download an e-copy of your policy. Once you enter your policy number and registered mobile number, an OTP will be sent to that number for verification.
You can then download the policy. Original papers or photocopies of the same are no longer mandatory. What happens to the 4 wheeler insurance policy, if I sell my car? The insurance policy has to be transferred from your name to the new owner. However, you can transfer the No Claim Bonus accumulated in your policy to your name which can be used for your new vehicle. You also have the option to cancel the existing policy at the time of selling.
What are electrical and non-electrical accessories? How do you calculate their value? Electrical accessories in a car usually include music system, ACs, lights, etc. The non-electrical accessories are the interior fittings in the car, like seat covers and alloy wheels. Their value is calculated according to their initial market value and then the depreciation rate is applied. What are the different modes of payment accepted online? Are there different schemes?
You can pay via net banking, debit card or credit card. You can pay the whole amount at once or in instalments. Am I eligible for a car insurance discount if I install anti-theft alarm and locking system? If you add an additional layer of protection, it will lower the risk for the insurer in case of a theft, and so, you will be rewarded with a discount.
Where can I view the list of cashless garages in my city? What is an ARAI-approved car-theft device? What are the benefits of installing the same? Ranging from high-end locks to alarms, anti-theft devices are gadgets that protect your car. You need to get one certified by the Automotive Research Association of India ARAI if you wish to avail the anti-theft discount on the car insurance premium.
How much fine do I have to pay in case I do not have car Insurance? What is bumper to bumper car insurance?
Bumper to bumper is an add-on cover providing complete coverage, in case of an unfortunate event, to damages done to fibre, metal, and rubber parts of your car. This, however, does not cover engine damage, batteries, tyres and glass.
Pay additional premium to purchase this add-on. It is also known as zero depreciation or nil depreciation car insurance. What are the different types of Motor or Car Insurance Policies and what does it cover? The different types of car insurance plans are: Liability only policy: The Indian Motor Vehicles Act, , makes it is compulsory for car owners to have a valid third-party insurance policy, and non-compliance of the rule can lead to heavy penalties.
Comprehensive plan: Buying this policy is optional, but it is highly recommended by experts. It covers damage done to your own vehicle as well as that done to a third-party. Apart from accidents, it also covers thefts and damages done to the vehicle by natural calamities like flood, lightning, earthquakes, etc. This plan can be bought for a single year or for long term.
Standalone Own Damage Car Insurance: This offers exclusive protection to your car that may get damaged due to accidents, calamities, fire or loss due to theft. Other plans are also available depending upon the type of car i. Benefits of renewing from the same insurer? Apart from a discount on your insurance premium, your insurer is most likely to offer additional benefits when you renew the policy.
These rewards might include a sizeable decrease in deductibles or an accident forgiveness option, which means zero increase in premium even after an accident. You can now secure your car before your favourite song gets over, in less than 3 mins! Read the Latest Car Insurance Blogs. Drive worry-free with multi-year long-term car insurance See full article Published on September 29, Local garages vs authorised service centres —How to choose?
See full article Published on September 20, Buying insurance for your second-hand car? Keep these things in mind See full article Published on September 20, It will just take a few minutes! Latest News around Car Insurance. Published on: November 8, Still wondering if you need car insurance? Find your Nearest Cashless Garage. Hear from our happy customers.
The fast track claim settlement and fabulous claims team ensured my claim was settled quickly and easily. I got my vehicle before the time committed to me and in an excellent condition and the way my claim was dealt with, is really commendable. Thank you for making my car insurance purchase hassle-free. The service I received was commendable, with special mention to customer support team who patiently answered all my queries and ensured my doubts were cleared.
I was pleasantly surprised with the smooth and seamless process and also the speed at which the service was delivered. Excellent service, only suggestion I have is to keep the app updated , so that the customer can get all the status and progress of the case. ICAI Awards Best Customer Experience Award of the Year.
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Track cancellation. Make payments. Chat with us. Click here for more options. Know Your Policy. Damage due to natural calamities — Earthquake, cyclone, floods etc. Claim settlement only happens after deducting car depreciation as per mentioned rates. Higher value compared to traditional coverage. Purchasable for cars less than 15 years of age. Purchasable for cars up to 5 years of age. All costs incurred are shareable between customer and insurer.
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