Thursday, March 30, 2023

Car Insurance

The car insurance offers you protection against theft, accidents, unforeseen circumstances, and other natural calamities that could harm your four-wheeler. The best car insurance ensures you that your four wheeler is protected from all the unfortunate events and financial losses.

It is mandatory to have insurance for a car as per the Motor Vehicle Act 1988 to drive your car on Indian roads. You can also purchase the basic third-party car insurance policy online to comply with this mandate. Else, you can opt for the added protection of our comprehensive car insurance online so that you can enjoy complete peace of mind in every drive. Our best car insurance company also offers standalone own-damage car insurance policies online that can be bundled with our company to provide you the complete protection cover against the perils of the road.

What is a No Claim Bonus in Car Insurance?

No Claim Bonus (NCB) is a discount offered on the premium that is given to the policyholder for free claiming the car insurance policy online terms. The NCB ranges from a discount of 20% to 50% so that you can earn something at the end of the period of your policy and you can get it at the time of your policy renewal. Your NCB will increase after every claim-free month of the renewal of your policy. 

For instance, if a person earns the NCB of 20% after the first year of having no claim under your car insurance policy online. This percentage will increase directly with every claim-free year and will reach up to 50% after the tenure period of 5 years. You have to reset from zero when you make a claim. When you reached 50% in the 5th year then your NCB will stop raising and remains the same and the process is known as the No Claim Bonus Sunset Clause.

This No Claim Bonus is meant for the policyholder of the car insurance online regardless of the car which means that your NCB will stay with you even if you only switch your car. 

However, if you decide to buy a new car then you will have to issue the new car insurance policy online but you can still avail of the existing NCB that is accumulated on the old policy or car.

What is Cashless Claim in Car Insurance?

If you want to get your car repaired with us, then we will make the payment for your approved amount of claim directly to the repair center and this is the Cashless claim.

Note: if there are any deductible charges such as compulsory excess or deductibles then any repair charges through which your insurance for car doesn’t cover any depreciation costs that have to be paid by the own pocket of the insurance-holder.

What is covered in car insurance policy online?

The following things are covered in the best car insurance policy that is mentioned below.

  1. Car insurance online provides coverage against natural calamities such as storms, floods, landslides, earthquakes, lightning, etc.
  2. We also provide the best car insurance coverage against man made causes such as theft, burglary, accidental external damage, etc.
  3. Car insurance policy online provides 24*7 roadside assistance coverage.
  4. Zero depreciation cover is also provided by us.
  5. Coverage for LPG/CNG Fuel kit.
  6. Coverage for the accessories of electrical and non-electrical damage or loss.
  7. More than 4300+ garages are working with our company of car insurance online to provide hassle-free service.

Why is Car Insurance mandatory in India?

When it comes to these mandated things like best car insurance, people usually tend to forget or ignore it unless there is a need not to have one. However,  Insurance for cars is mandatory in India as these guidelines provide the overall safety of people all over the world. For instance, if third-party car insurance is not mandatory by law then most of the people in India wouldn’t even have that and if in case you or anyone met the accident, then both the affected parties would drown in tons of expenses and baseless arguments. 

Therefore, the primary objective of the insurance for car is to protect and affect the car owner and party during the accident or mishap. The other reasons for the car insurance that has been made mandatory in India are explained below:

  • A large number of Road Accidents

In India, road accidents are most common and it is one of the main reasons that has made the Motor Vehicle Act of insurance of car is mandatory in India. The report shows that 1200 injuries happened in a day due to the road accident and that’s why car insurance would ensure that no one has to bear the financial burnt in such circumstances.

  • Make Legal Processes Easier

Wherever the accident happens, the legal process takes one’s more energy and time rather than the damages and when you have the best car insurance then the legal process becomes easy to proceed further.

  • Protects the Third-Party

Whenever you hit a vehicle or someone bump your car and if you have at least the third party insurance with you will help you to ensure that the third party will be compensated in case of personal as well as car damages.

Why buy Car Insurance Online?

If you require to buy insurance for car that it will take a lot of your time from work or spending your weekends visiting different insurance providers to avail the top car insurance. However, things have now changed drastically since ever and you can buy your car insurance online today within just a few simple steps. Here are some of the benefits you get while buying car insurance online.

  • You can buy as per need

You can increase or decrease your IDV, choose the add-ons you require, and even fine-tune the other numerous elements of your best car insurance policy. This will help you to tailor the coverage of your car insurance online as per your basic need.

  • Helps you to save money

One of the biggest reasons for car insurance online is that it helps you to save your money. Whenever you will visit our website to purchase any of the top car insurance covers for your four-wheeler, you help us save on overhead, and therefore, we pass these savings to you in the form of discounts and premium rates.

  • Get the policy in a snap

All the car insurance policies online and payments will be emailed to you immediately. You just need to download it from your mailbox and then make copies of them. Although, you can even send it directly from your mailbox to the DigiLocker so that you have a soft copy of your legal documents with you all the time.

  • No Physical Paperwork

If you want to buy the best car insurance online then you must be aware that no physical paperwork will be involved in the whole process. You just need to type your details online and then select the plan you require for the insurance for car and thus, make the payment. And afterward, we’ll send you all the documents of your car insurance policy online via email. You should keep a soft copy of your documents with you for your backup.

  • Purchase at your convenience

If you want to buy the best car insurance from your branch then you can only do so during your working hours. Whereas, if you buy the car insurance online then there will be no limits for the timings and you will be free to purchase a plan of your car insurance policy online at any time.

Steps to buy a CAR Insurance Online

Are you buying the best car insurance online for the first time? We are here to help you out, you just need to follow some simple steps to buy your top car insurance online with complete ease.

  • First, Understand what you need!

First, you need to understand what kind of car insurance policy is online. If you are looking for affordability then you must choose the third-party plan but if you require protection then you must opt for the comprehensive policy. You must also include add-ons in your car insurance online cover to increase the coverage of your best car insurance plan.

  • Get Instant Quotes

Provide some of the basic information about your car to the insurer so that they can calculate the car insurance as per the basic details with an instant quote. You can also alter your IDV, include add-ons you want, and can even make numerous edits to the quotations.

  • Fill out your details and make the payments

Once you are fine-tuned with the quotation that you require, then you can simply proceed to buy the insurance for the car. Now, to proceed further, you will have to provide a few more details about yourself and your car. At last, you have to make the payment of your top car insurance plan.

  • Get the Policy documents

After making the payment the top car insurance policy document will be mailed to you within seconds and hence, your car is officially insured. That’s how you can easily buy the best car insurance online.

The terms of Car Insurance Policy Online

There are some terms that you should know about before buying the best car insurance online. Some of them are explained below.

  • Coverage

The coverage of any insurance for a car refers to the financial protection of your car insurance policy online. The coverage of your car insurance online will vary based on the type of top car insurance plan that you purchase.

  • Premium

Premium is the amount that you have to pay annually to enjoy the coverage of your insurance for a car.

  • IDV

IDV stands for Insurer Declared Value and it is the listing price of your vehicle minus depreciation. If in case, you have met the total loss of your vehicle or its theft. Although, IDV is the maximum compensation that will be offered to you by your insurance provider.

  • Car InsuranceAdd-ons

Adds-ons are the extra layers of financial protection that you can purchase to widen the coverage of your car insurance policy online.

  • No Claim Bonus

Our company is like a reward to you for not making a claim. It is a discount that you can enjoy whenever you renew your car insurance online plan after a claim-free year. These discounts will also keep increasing for every claim-free year. You can easily avail of the maximum discount of up to 50% every year for not making any claims against your car insurance policy online.

Car Insurance – FAQs

Q1. What does a best car insurance policy cover provide?
Ans. The best car insurance policy provides financial protection to you and your car in case of an accident. You can now buy car insurance online from us and save up to 50% on your premiums including other services such as 24*7 roadside assistance, Zero, Depreciation Cover, Network of more than 4000 Cashless Garages, and many more.

Q2. What will happen if I lose my car insurance online policy documents?
Ans. You can call us on our customer support number to get connected with one of our customer care executives. They will surely help you out with the duplicate copy document of the car insurance policy online.

You should remember that if you have lost the physical copy of car insurance policy documents so you still have the other copy of it that was mailed to you when you brought it. Hence, it is better to always take a printout of the documents you get after completing the process of insurance for car.

Q3. Why take the best car insurance online?
Ans. The best car insurance online offers you protection against theft, accidents, unforeseen circumstances, and other natural calamities that could harm your four-wheeler. The best car insurance ensures you that your four-wheeler is protected from all the unfortunate events and financial losses.

Marketvein Staff
Marketvein Staff
Born libra, likes to lead from the front. Digital Marketing & Technology is his strength. He has pursued engineering. Travelling to new places & writing is his idea of fun. In his free time (if he gets some that is), he is seen donning the chef's hat at home.
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