Car Insurance
Car insurance is a protection measure of both car and
the car owner from damage, death and financial loss. Car insurance policy is a
protocol set between the car insurance company and a car owner. Car insurance
provides the protection such as road accident damages, third party liabilities,
theft, fire and natural disaster.
Renew car insurance online or Buy car insurance
online
Buying a car insurance online makes life of buyer
easier and hassle free. If the car insurance policy is expired then renew car
insurance policy online immediately because it gives the following advantages.
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Car insurance company pays for the
car damages due to accident, death or natural disaster.
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Car insurance company pays the bills
of the hospital in case of accident.
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Car insurance reduces the legal and
financial losses arise by the third party.
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By comparing get the best car
insurance policy online from the various policy providing companies.
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Car insurance online is a instant and
easy process of both buying car insurance and car insurance renewal.
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Comprehensive coverage.
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In order to have improved protection
we can have a various add-ons.
Types of Car Insurance Policy
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Comprehensive car insurance:
This type of car insurance policy
provides coverage for third party liability and damages caused to the car. It
offers more benefits in case of damages caused due to collision, theft,
accident etc. comprehensive car insurance policy can be further enhanced by
opting add-ons such as accessories, engine, zero depreciation, medical expenses
and so on.
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Third party car insurance:
The third party car insurance provider will bear the expenses for death,
disability, injury or property damage to any third party.
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Pay as you drive insurance:
Pay as you drive insurance allows the
insurance company to pay the insurance
premium depending on the number of kilometers the car is driven. The car
insurance policy seeker will have to declare the distance he or she expects to
travel during policy year and then premium will be decided.
Best Car Insurance Policy
The best car insurance policy is one
which gives more coverage less premium amounts to pay. Car insurance policy
premium depends on various factors such as the number of add-ons, the type of
insurance and insurance policy covers what all other damage coverages etc.
Check list while selecting a car
insurance policy
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What is covered and what is not
covered.
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Comparing various other car insurance
online
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Incurred claim ratio
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What all covered in add-on
What Does Car
Insurance Cover?
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Loss or damage caused by fire,
natural disaster, collision, theft accident, lightening etc to the insured
vehicle.
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Financial loss caused by the injury
or death or damage to the third-party property.
- Personal accidental insurance cover.
What Does Car
Insurance Not Cover?
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You cannot claim if your policy is
not active.
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Car insurance policy do not covers
the wear and tear of car and its parts.
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Car insurance doesn’t cover the loss
or damage of the vehicle, when driven without a valid driving license.
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You cannot claim car insurance when
the person driving is drunken.
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Car insurance cannot be claimed in
case of oil leakage that causes damage to the engine.
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Loss or damage to the vehicle as a
result of abuse of car manufacturer’s guidelines.
Calculate Car Insurance Premium
car insurance premium can be
calculated on various factors. it is always feasible to calculated premiums
using online car insurance calculator. The car insurance company considers the
following parameters to fix the car insurance price:
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Insured Declared Value (IDV).
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Age and type of car
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Cubic capacity (CC) of an engine.
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Geographical area
IDV of car can be calculated by the formula:
IDV=Car’s showroom price + Accessories cost –
Depreciation value
To calculate Own Damage (OD) premium amount we use the
formula:
Insured Declared Value X [Car premium as per the
insurer] + [Optional benefits] – [NCB/Discount etc.]
How to renew car insurance online:
It is always mandatory to renew car insurance to
proceed with the benefits otherwise it may be a costly mistake made by the car
owner. One can think of a renewal of car insurance online as it is instant and hassle-free
task sitting at home, we can renew car insurance online without even going out
and within no time.
Following are the steps follow by the car insurance
policy holder to renew car insurance online.
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Go to the renewal section of the web
page.
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Enter the details required such as
policy number, mobile number, date of birth etc and submit.
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select the car insurance plan that
you want to buy.
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Choose the add-on or drop add on.
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The premium amount that you need to
pay will be shown.
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Pay the amount of insurance premium
with credit card, debit card or online banking.
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Once the payment is successfully
remitted, your car insurance policy will be renewed.
You’ll receive the policy document on
your registered email id. You can download and get a hardcopy of the same.
Benefits of car insurance online:
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Its easy and quick process.
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Easy customization of policy as per
the requirements of the policy holder.
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Renewal can be done very securely.
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One can easily switch from one
insurance providers to another.
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No Claim Bonus (NCB) Transfer process
is easier.
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A transparent way of renewal and
buying a car insurance online.
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No agents are required hence no
commission for middle men. Hence it will become economic for the policy holder
to buy the policy.
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Economical use of paperwork.
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Buying and renewal of car insurance
is very convenient and saves lot of time.
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Once insurance is paid online you
will receive payment reminders as and when the policy renewal date is near.
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One can pay the premium amount
online.
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It is really easy and convenient to
compare the premiums of various insurer.
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Buying and renewing a car insurance
online is most cost effective.
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Once the payment is done online, you
will receive a soft copy of the document to your registered email id.
Car insurance claim
Make sure that car insurance policy holder has the
following things before they apply for the car insurance claim,
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Date and time of accident or damage
caused to the car.
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Name of the driver, contact details
and driving license details.
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Car insurance policy number.
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Estimated cost of loss.
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A brief description of the incident.
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Insured contact details.
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Survey location to support the
investigation process.
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Once the claim is registered you will
receive the notification on text along with the details.
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Based on the survey claim settlement
will be done.
Documents required for filing a car insurance claim
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FIR copy of Police.
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Claim for signed by the policy
holder.
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Fitness certificate for commercial
vehicles.
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Driving License (DL).
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Car Registration Certificate (RC Card
or RC Book)
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Insurance documents
If everything is clear, then the insurer will settle your claim within a week from the date of submission of all required documents.
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