Car Insurance - Buy & Renew Car Insurance Online Policy Starting @Rs 6/day

How to Choose Car Insurance Policy Online?

Buying a car insurance policy may become a challenging task if you fail to do proper research. At Insurance, we understand how important it is for you to buy the right car insurance plan. So, to help you out, we have enlisted some of the tips in which you can buy the best car insurance policy online:

• Check the Different Car Insurance Types: With three different types of four wheeler insurance available, it is crucial to assess your car insurance needs and accordingly finalise the type of policy you need. Choose a third-party cover if you want to stay legally compliant. On the other hand, choose a comprehensive car insurance plan if you want to get complete protection for your vehicle. As InsuranceDekho offers three different types of car insurance plans, you can easily pick one that best suits your needs and budget.
• Analyse the Car Insurance Premium: The premium of car insurance depends on a number of factors such as IDV, model, fuel type, age, and others, which is why the car insurance premium varies from one insurer to another. Moreover, checking four wheeler insurance premiums also become important to analyse so that you are able to buy a plan that fits your budget. So, it is wise to first compare the car insurance premiums and then make the final decision.
• Check for IDV: IDV or the Insured Declared Value refers to the current market value of your car. As your vehicle suffers wear and tear, then the value of your car decreases. It is the maximum amount that your insurance company will settle in case your car is completely damaged or stolen. The car insurance premium is directly proportional to the IDV, which means that the higher the IDV, the higher will be the four wheeler insurance premium.
• Compare Different Plans: You should compare different car insurance plans online. The comparison makes it easier to pick the best car insurance plan as per your budget and needs. You should analyse the coverage offered under different types of four wheeler insurance plans as doing so will help you make an informed decision in selecting the right car insurance policy for yourself.
• Add-ons: There are a number of add-ons available such as zero depreciation cover, no claim bonus, key loss cover, engine loss cover, and more that help in enhancing the benefits of your car insurance plan even more. So, while buying a car insurance plan, you must include a number of add-ons to get additional coverage. Once you have rightly selected the four wheeler insurance policy, you will be able to get complete protection for your car.
• Availability of Cashless Garages: Cashless garages in car insurance is helpful for policyholders to get their car insurance claims settled in a cashless manner. With the availability of more cashless garages with your insurer, it becomes easier to get cashless repairs in a hassle-free manner. So, always buy a car insurance plan from a company that has tie-ups with a large number of cashless garages.
• Check Claim Settlement Ratio: The claim Settlement Ratio in four wheeler insurance refers to the efficiency of car insurance companies in getting their car insurance claims settled. It thus refers to the percentage of claims settled by the insurer in a year. So, always look for an insurance company that has a simple and swift claim process and check their Claim Settlement Ratio (CSR) before finalising. It is better to buy a plan from a company with high CSR.
• Services Offered: In addition to the claim settlement ratio, you should also check the services offered by your four wheeler insurance company. For instance, you must understand whether the company offers a quick claim settlement, 24*7 service, and other services. You should thus choose a company that offers hassle-free customer service.

Given below are salient highlights of a four-wheeler insurance policy:

To stay protected against uncertainties that take place on the road, car insurance becomes very important. Some of the reasons why you should have a four wheeler insurance plan are as follows:

• Helps You Stay Legally Compliant:

  An insurance helps you stay legally compliant as according to Indian Motor Tariff, every car owner is mandatorily required to have at least a third-party car insurance policy. The absence of which is punishable with a fine of Rs. 2,000 and/or imprisonment of up to 3 months.

• Protection Against Third-Party Liabilities:

  A four wheeler insurance policy provides coverage for third-party liabilities such as bodily injuries, temporary/permanent disability, death as well as property damage. You can get third-party coverage in both comprehensive car insurance and third-party car insurance plans. While the compensation for third-party property damage is limited to Rs. 7.5 Lakh, there is no compensation cap in case third-party bodily injuries, disability, or death.

• Protection Against Own-Damages:

  An insurance policy for your car helps you keep yourself financially secured against the own-damage expenses of your car. Damages incurred in road accidents, natural calamities, man-made disasters, fire, explosion, vandalism, etc are covered under standalone own-damage as well as comprehensive car insurance plans.

• Coverage Against Theft:

  A standalone car insurance policy also provides coverage in case of theft of your car. In case your car gets stolen, your insurance company provides you with your car’s Insured Declared Value (IDV) which corresponds to the market price of your car. In case of theft, with InsuranceDekho you will also get a quick claim settlement.

• Personal Accident Cover:

  With a car insurance policy, you can also get a personal accident cover of up to Rs. 15 Lakh. Thus, in case of death due to an accident or if there are any bodily injuries as well as disability of the policyholder in a car accident, then a Personal Accident Cover becomes very important.

• Coverage Against Financial Losses:

  If there is any kind of damage to your four-wheeler during an accident, natural disaster, vandalism, or any other unfortunate events, then all the financial losses incurred are covered under your four wheeler insurance plan. To get complete protection, it is advisable to buy a Comprehensive Car Insurance plan.

• Financial Coverage Against Natural Calamities:

  If there is any damage to your four-wheeler or car due to natural calamities such as earthquakes, floods, storms, or others, then the plan will provide financial coverage in such cases. InsuranceDekho offers quick claim settlement in such unfortunate circumstances.

• No Claim Bonus Benefits:

  No Claim Bonus or NCB is a discount given if the policyholder raises no claims in a given year. A maximum discount of 50% is given if you are eligible for NCB, which makes a four wheeler insurance plan all the more affordable.

In today’s digital world, buying four wheeler insurance online offers a bunch of benefits. In comparison to the traditional offline mode of buying car insurance, buying car insurance online is more convenient and hassle-free. Read on to understand how buying car insurance online is advantageous:

• Instant Policy Issuance: When you choose to buy a four wheeler insurance plan online, the policy will get issued in a matter of few minutes. In a few simple clicks and easy steps, your car insurance policy details will be instantly sent to your registered email id.
• Simple Comparision: On purchasing four wheeler insurance plans online, it becomes easier to compare the different policies from the comfort of your home. Just by entering a few details such as vehicle registration number, pin code, and other details, you can view different car insurance plans with InsuranceDekho. You can also use a car insurance premium calculator to get an estimate of the four wheeler insurance plan you are buying.
• Affordable: Buying a car insurance plan online does not involve any overhead costs and thus is a very affordable option. Moreover, there are a number of four wheeler insurance companies that offers discounts when you choose to buy a car insurance plan online.
• Saves Time: Along with being an affordable option, you can also save on your valuable time when buying a vehicle insurance plan online. Without stepping outside, you can buy insurance online from the comfort of your home in a matter of a few seconds. With InsuranceDekho, you can buy your car insurance plan in just 60 seconds.
• Less Paperwork Required: There is little to no less paperwork involved when you buy four wheeler insurance online. All the documentation process happens online, and thus you save on paperwork with the online process of buying a car insurance plan.
• Safer Option: Buying car insurance online is not only a quick but also a safe option. When you buy car insurance online with InsuranceDekho, all your personal details are safe and so are the payment details. The online payment gateways are safe with the help of different online protocols and thus reduce the chances of any kind of fraud.
• Customisable Option: With your four wheeler insurance plan, you can also add a number of add-ons to further enhance its coverage. And when you buy car insurance online, you can easily customise these add-ons as per your needs. This means you can remove or keep adding more add-ons as per your requirement and budget.

Documents Required to Avail Car Insurance Online

Listed below are the documents required to buy four wheeler insurance online:

• Vehicle registration paper or RC
• Driving license of policyholder
• Aadhaar card/PAN card
• Recent passport size of the policyholder
• A duly-signed car insurance form
• Copy of NOC, if required

Difference Between Buying Car Insurance Plan Online vs Offline

Also Read: Reasons Why Buying Car Insurance Online Is A Smart Choice

Every car owner should purchase a comprehensive four-wheeler insurance policy due to several reasons. Here are its top benefits:

1. Third-Party Liabilities - Comprehensive car insurance provides you coverage for third party liability, which will help you if your car gets involved in an accident that leads to damages sustained by the third party. Also, it gives you legal compliance with the basic cover in hand while driving a car.

2. Own Damage Cover - Apart from the third party liability, comprehensive car insurance also gives coverage for damages or losses incurred by your car due to an accident, theft, fire, burglary, man-made disaster or natural calamities. Also, it covers damage or loss to cars while in transit by rail, air, and so on.

3. Personal Accident Cover - Personal accident cover is also offered with comprehensive car insurance plans that give protection against permanent total disability as well as death due to an accident. This cover can be extended for other passengers based on your car’s seating capacity for a specified amount.

4. No Claim Bonus - One of the biggest benefits comprehensive car insurance provides is the No Claim Bonus (NCB) feature. Under this benefit, a policyholder gets a discount on the next year's premium for not making any claim in a policy year. With every claim-free year, discounts accumulate making the car insurance more affordable.

5. Cashless Claims - The cashless car insurance claim is a significant aspect of every policy. Insurance company’s with a large network of garages across the nation ensure active cashless services in all these locations. This facility makes it convenient for policyholders to avail the repair services without paying anything.

To get the relevant coverage under your car insurance plan, you need to pay a certain amount which is called the car insurance premium. To get an estimate of the premium you need to pay towards your car insurance plan, you can easily follow a few simple steps. Here is how you can calculate car insurance premium online:

Using Online Premium Calculator

A car insurance premium calculator is basically an online tool that helps you in estimating the premium you need to pay for your car insurance plan. Listed below are the steps in which you can use car insurance premium calculator:

• Step 1: Select your car’s make, model, fuel type and variant
• Step 2: Select the city in which your car is registered in
• Step 3: Select the year in which you purchased your car
• Step 4: Select ‘Yes’ if you have previously made a claim, else select No
• Next: Now press the ‘Calculate’ button

How to Calculate Own Damage Car Insurance Premium?

A standalone own-damage insurance provides financial protection if there is any damage or loss to the insured vehicle. Here is how you can calculate own-damage car insurance premium:

Own-damage car insurance premium = [Insured Declared Value*Premium Tariff as decided by Insurer] + Add-ons – [Discounts like NCB]

How to Calculate IDV of Your Car?

IDV or Insured Declare Value can be easily calculated using this formula:

[List price of the car manufacturer – depreciation deduction] + [Cost of vehicle accessories which are not a part of list price – depreciation deduction of accessories]

Third-party Car Insurance Premium

Below mentioned is a table that highlights the premium for third-party car insurance plans:

Below is the process of car insurance renewal online through the InsuranceDekho portal:

Step 1: Go to InsuranceDekho and click on the ‘Car’ tab.

Step 2: Enter the car’s Registration Number and click on the ‘Proceed’ button. Then choose your car’s variant and vehicle fuel type to continue.

Step 3: Share the previous company’s expiry date and the name of your car insurer. Also, tell if you have raised any claim in the last policy year and click on ‘Continue’.

Step 4: Fill in your name and mobile number and the duration for which you want to insure your car and click on the ‘Submit and Get Quotes’ link.

Step 5: Different premium quotes from different car insurance companies will appear which you will have to compare and choose as per your requirements. You can also pick car insurance add-on covers at this step.

Step 6: Click on the ‘Buy Now’ button, verify your details, and make the payment. The car policy will be issued and its document will be sent to your registered email ID.

Benefits of Car Insurance Renewal Online with InsuranceDekho

A car insurance plan comes with an expiry date, which is why it is important to renew it before its expiry. On renewing a car insurance plan, you will be able to continue getting the benefits and coverage under your car insurance plan. So, listed below are some of the benefits of car insurance renewal with InsuranceDekho:

• Quick Comparision: When you renew your car insurance plan with InsuranceDekho, you can easily compare the difference between the different car insurance plans available. On comparing the plan, it will become easier for you to understand what kind of coverage you require and thus accordingly renew your existing car insurance plan.
• Easily Customisable: While renewing your car insurance plan, you will also be able to customise the plan as per your needs. If you need any additional add-on, you can easily customise the plan while renewing your car insurance plan online with InsuranceDekho.
• Switch from One Insurer to Another: When you are renewing your existing car insurance plan with InsuranceDekho, you can also switch from the existing car insurer to another. This is because InsuranceDekho has tie-ups with a number of car insurance companies. Switching from one insurer to another is helpful in getting additional coverage if needed.
• Additional Discounts: On renewing your car insurance plan, you also get discounts. So, get discounts while you renew your car insurance plan with InsuranceDekho.

If your four-wheeler insurance expires, you will become vulnerable to legal and financial risks. Here are some points risks of an expired car insurance policy:

1. Legal Trouble - Driving a car with an expired car insurance policy can get you in trouble which can lead to penalties. Repeated offences can enhance your penalties and can even make you face imprisonment. Hence, if your car’s policy is expired, then you should renew it immediately.

2. No Cover & Claim - An expired car insurance policy can provide no coverage, which means you cannot make any request for a claim from the insurance company. So, if your car faces any damage, then your insurer will not be liable to compensate your losses and you will have to bear the entire expenses.

3. Long Renewal Process - The renewal process might become difficult and can take a long time if your policy has expired, otherwise, it takes a few minutes only. The reason behind the delay is that an inspection is required to renew an expired policy which may take time as per the availability of the surveyor.

4. Loss of NCB Benefit - The NCB of your car insurance can be terminated if your car insurance plan is not renewed within 90 days of its expiry date. This can make you lose your NCB discount even if it was 50%, which could be a huge loss for you as it could lower your premium for the next year.

5. Scope for Inspection - If your policy expires, your insurance company might want the car before renewing the insurance for it. This can lead to a price hike due to two major reasons that comprise the cost of the inspection process to the company and if your car is not found to be in a good shape or at risk.

The car insurance premium depends on a number of factors such as the following:

• Engine Capacity of the Car

The engine capacity of the car largely affects the car insurance premium. Four-wheelers with higher engine cubic capacity will have higher insurance premiums. The car’s cubic capacity of CC is thus directly proportional to the vehicle insurance premium.

• Age of the Car

Another factor that affects the car insurance premium is its age. Typically, the insurance premium of an old car is lower as compared to that of a new car. This is because the IDV or the Insured Declare Value decreases as the age of the car increases and so does the premium. On the other hand, for new cars, the IDV is high and thus the car insurance premium for new cars will be higher.

• Type of Car Insurance

As already stated, there are three types of four wheeler insurance plans such as third-party, standalone own-damage, and comprehensive. While a third-party car insurance provides coverage for third-party liabilities, comprehensive car insurance provides complete protection to the insured car. On the other hand, standalone own-damage car insurance only provides coverage if there is damage or loss to the insured car. Thus, depending on the type of insurance plan you buy, the insurance premium is accordingly determined. Typically, the car insurance premium of a comprehensive car insurance plan will be higher.

• Add-ons

With comprehensive car insurance plans, you can also include a number of add-ons such as zero depreciation cover, no claim bonus protector, key loss cover, engine loss cover, and many more. However, it is important that as you include these add-ons in your car insurance plan, the premium will go up along with its coverage. The more add-ons you include in your car insurance plan, the higher will be the car insurance premium.

• Claim History

If you have a bad claim history or if you have raised multiple claims in a given year, then your four wheeler insurance premium will be higher. On the other hand, if you have raised no claim in a given year, then a No Claim Bonus benefit will be paid out as a reward. With the No Claim Bonus benefit added to your car insurance plan, the car insurance premium automatically gets affected. Thus, a No Claim Bonus benefit lets policyholders pay lower car insurance premiums.

• Insured Declared Value

Insured Declared Value or what is called IDV largely affects the car insurance premium. It is basically the current market value of your car and with time the IDV decreases. As the IDV of a vehicle decreases with every passing year, the four wheeler insurance premium also gets reduced.

• Deductibles

In car insurance, deductibles refer to a specific amount that is paid by the policyholder from their own pocket. It depends on the policyholder to keep the deductible lower or higher in their insurance plan. The higher the deductibles you choose, the lower will be your car insurance premium. However, always remember that if the deductibles will be higher, you will have to spend a lot of money from your pocket towards the repair of your car. So, choose wisely.

• Installation of Anti-theft Devices

If someone has installed anti-theft devices authorised by the Automotive Research Association of India (ARAI), then their car insurance policy premium will be lower by the insurance company. This is because it lessens the chances of car theft which ultimately lowers the insurer’s risk and burden to pay compensation. Furthermore, installation of other safety devices also helps in reducing the car insurance premium.

• Geographical Location

Yet another factor that plays a crucial role in determining the car insurance premium is geographical location. For instance, if you live in an area where the chances of accidents or natural disasters are higher, then the car insurance premium ought to be higher. On the other hand, if you live in an area that is safe from thefts or accidents, then the car insurance premium for cars in such areas will be lower.

• Other Factors

In addition to those mentioned above, there are several other factors that determine your four wheeler insurance premium. For instance, the make and model, fuel type, and any modifications in the car either increase or decrease the car insurance premium. So, be clear about the modifications you are getting done in your four-wheeler as that can largely affect your four wheeler insurance premium.

Tips To Reduce Car Insurance Premiums

Worried about paying hefty car insurance premiums? If so, then fret not as there are a number of ways in which you can stay away from paying higher premiums. Scroll through the section below to know all about the different ways in which you can reduce your car insurance premium:

• Opt for More Deductibles: While buying a four wheeler insurance plan, there is an option to opt for deductibles. Deductibles are basically the amount that the policyholder will have to pay towards the repair of their car. If you opt for a higher deductible, then the car insurance premium will be lower. So, to save on car insurance premiums, it is better to opt for higher deductibles.
• Buy Pay As You Drive: Pay As You Drive is a recently launched feature in the car insurance industry. This is highly beneficial for all those who want to save on car insurance premiums. This is because the premium in this case is determined on the basis of the kilometres you drive. So, if you drive your car occasionally, then it is better to buy a Pay As You Drive so that you pay a lesser premium.
• Compare Car Insurance Policies: With so many four wheeler insurance companies offering car insurance plans, it is important that you compare all of these different plans. Doing so will not just help you in selecting the right vehicle insurance plan but also a plan that fits your budget. On comparing different car insurance plans, you will be able to analyse which plan fits your budget and accordingly buy one.
• Avoid Raising Car Insurance Claims: It is highly advisable to avoid raising claims for minor damages. For instance, if there is minor damage to the body of the car in case of an accident, then it is better to pay for the expenses from your own pocket instead of raising a claim. On paying expenses from your own pocket, you will be able to maintain your No Claim Bonus benefit and thus get discounts on four wheeler insurance premiums.
• Choose the Adequate Coverage: If you wish to save on car insurance premiums, it is very crucial that you analyse your coverage needs. This will help you in buying a four wheeler insurance plan that best suits your needs and prevent you from paying additional premiums.
• Renew Car Insurance Before its Expiry: A four wheeler insurance plan comes with an expiry date. So, renewing car insurance on time becomes very important. If you fail to renew your car insurance plan before its expiry date, then you will have to pay fines.
• Install Safety Devices: By installing safety devices like anti-lock systems, anti-theft devices, and others, the safety of your car increases. So, when your insurer knows that your car is at a lesser risk, then the premium in such cases will be set to a lower amount as compared to other instances.
• No Claim Bonus: It is very important that you drive safely to avoid raising four wheeler insurance claims. When you drive responsibly, the chances of accidents will be lesser, and thus you will not have to raise any car insurance claim. Moreover, this also keeps your No Claim Bonus benefit intact. With the No Claim Bonus benefit, you will be able to save largely on your four wheeler insurance premium.

Factors Affecting IDV

IDV stands for Insured Declared Value and is a crucial component in determining the premium amount and coverage of a comprehensive car insurance policy. IDV represents the maximum amount an insurance company will pay out to the policyholder in case of a total loss or theft of the insured vehicle during the policy period. In essence, it is the current market value of the insured vehicle, excluding the value of any additional accessories or modifications that are not pre-installed.

Factors that affect the Insured Declared Value (IDV) of a vehicle in car insurance include:

• Age of the Vehicle: As a vehicle age, its market value decreases due to factors such as wear and tear, depreciation, and obsolescence. Consequently, the IDV of an older vehicle tends to be lower than that of a new one.
• Make and Model: The make and model of the vehicle significantly impact its market value. High-end or luxury vehicles tend to have a higher IDV compared to others.
• Depreciation: Depreciation is a major factor affecting IDV. Insurance companies use standardized depreciation rates to calculate the reduction in the vehicle's value over time.
• Geographical Location: The location where the vehicle is registered can influence its IDV. Vehicles registered in urban areas may have a slightly higher IDV due to higher market values compared to rural areas.

It's important to note that while a higher IDV might result in a slightly higher insurance premium, it also means that in the event of a total loss or theft, you may receive a higher payout from the insurance company. However, setting the IDV too high can lead to unnecessary premium costs, while setting it too low could result in insufficient coverage in case of a claim. It's advisable to choose an IDV that accurately reflects the current market value of your vehicle.

Here is a table that illustrates the age of the vehicle and how it affects the IDV

A four wheeler insurance claim can be made in two ways - a cashless claim or reimbursement claim. When you visit a network (partner) garage of your insurance provider for your car’s repair work, the claim is settled in a cashless manner When you visit a non-network garage of your choice, the claim is settled first by you and is later reimbursed to you by your insurance provider. You can follow the below steps to make a car insurance claim:

• Register Your Car Insurance Claim: Inform the insurance company about the mishap at the earliest. Once you have informed the company, you can also fill out the car insurance claim form on their website. You can do so by entering details like your insurance policy number, name, address, and a few more. You will also have to provide a few other details like the incident and whether a third party was injured during the time or not. Once you have entered all the details, you can proceed with submitting the claim form.
• Claim Intimation Number: After your claim has been submitted, you will receive the claim intimation number. Keep this number safe for future reference.
• Inspection: Next, a surveyor will be assigned to inspect the total damages done to the insured car. After this, the surveyor will submit the damage reports to the insurance company.
• Take Your Car to A Garage: If you have opted for a reimbursement claim, then take your car to any garage of your choice. However, in the case of cashless claims, you can take the damaged car only to a cashless garage or one that has a tie-up with the insurance company.
• Claim Settlement: Once the repair work of the insured car is completed, the insurance company will verify all the documents related to your car insurance claim. Finally, when everything is verified the claim request will be directly settled at a cashless garage. In case of reimbursement claims, the claim amount will have to be first borne by the policyholder, which will be later reimbursed by the insurance company.

To file a car insurance claim successfully, you require a few documents which are as follow:

1. Car insurance policy

2. Driving license copy

3. Duly signed claim form copy

4. Original repair invoice

5. RC copy of the car

6. Fitness certificate for commercial cars

6. FIR copy, in case of theft, injury or damage to third-party, or accidents

7. Cash receipt and proof of car release

8. ID proof of insured person such as Aadhar card and PAN card

You can compare different four-wheeler insurance policy quotes online at InsuranceDekho in just 30 seconds. A thorough comparison of policy quotes can help you find the most suitable policy at the lowest premium. To get the policy quotes, you will have to enter some details such as make, model, fuel type, variant, manufacture year and so on. This will get you a car insurance premium offered by several insurers in the market which you can customise with add-on covers and select the one that fits best to your requirements and budget.

How to Download Your Car Insurance Policy Copy?

Here are the steps you need to follow to download a copy of your car insurance policy:

• Go to the official website of the insurance company
• Log in with your credentials and enter details such as policy number, name, and a few more
• You will be redirected to your policy detail page. You can also see a download option visible on the screen
• Proceed with downloading the car insurance policy papers. In case you are unable to download a copy of four wheeler insurance, you should directly contact your insurance company