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Top Car Insurance Plans
- CASHLESS GARAGES 6,800
- CLAIMS SETTLED 89%
- ZERO DEP. CLAIMS UNLIMITED
- Maximum Cashless Garages
- Over Night Vehicle Repairs
- 24x7 Roadside Assistance
- Quick Claim Settlement
- CASHLESS GARAGES 3,100
- CLAIMS SETTLED 95%
- COMPREHENSIVE CLAIMS UNLIMITED
- Towing Assistance (For Accidents)
- Coverage Outside India
- PSU Provider
- Quick Claim Settlement
What is Car Insurance?
Get car insurance & protect your vehicle & yourself.
Car insurance, also referred as Motor or Four-wheeler insurance, is a type of agreement between a car owner and an insurance provider. This contract provides financial protection to the vehicle if the vehicle suffers any damage or loss due to expected events like accidents & natural disasters. A motor insurance holds more significance than just being a piece of paper to keep in the car’s dashboard and show traffic officials when necessary. This insurance policy gives financial protection to the damages of your vehicle caused in an accident or theft. No matter how careful you are while driving, accidents can happen, and repair costs can be substantial. Car insurance policies are of various types. First type is third-party car insurance. This cover protects you from financial damages if your insured vehicle unintentionally damages a third party's vehicle or property or injures a third party. It excludes the damages caused to the insured car. As per the Motor Vehicle Act 1988, it is mandatory for all the cars to have a third-party insurance cover. Second type is the comprehensive car insurance policy. This coverage offers financial protection for your car against damage caused by accidents, theft, fires, and natural events like lightning, storms, floods, and cyclones, as well as man-made damages like vandalism and riots. It also covers third-party insurance. You also have the option to add Personal Accident Cover to your policy to cover any injuries or serious physical damage caused due to accidents. If you’re looking to buy a car insurance & insure your car, InsuranceDekho offers it all. You can choose between 3rd party insurance cover, comprehensive car insurance, and stand-alone damage policy, depending on your budget & car’s specific needs. A comprehensive car insurance policy also provides protection against damages caused to your own car. The Motor Vehicles Act of 1988 makes it mandatory for every car owner to insure his car with a third-party insurance policy.
Types of Car Insurance
At InsuranceDekho, you can buy three different types of car insurance policies such as third-party insurance, comprehensive insurance, and standalone own-damage insurance. Scroll through the section below to learn more about these plans:
Comprehensive Car Insurance
This type of insurance policy is the most preferred cover by the car owners. It provides financial support to pay for the damages caused to the own vehicle & the third-party. As the name suggests, this type of insurance provides comprehensive cover. This policy is also applicable to the damages occurred due to natural calamities, man-made disasters, self-ignition or lightning, explosion, fire, theft, etc.
Third-party Car Insurance
Third-party four-wheeler insurance policy is a mandatory requirement for driving a car in India. Under this cover, the insurance company is liable to pay for the injuries, permanent disability, temporary disability, and death of the third party caused by an accident involving the insured car. This plan also provides coverage for property damage incurred by the third party up to Rs. 7.5 Lakh.
Own Damage Car Insurance
In September 2019, the Insurance Regulatory and Development Authority of India (IRDAI) introduced the Standalone Own-Damage car insurance policy. Under this plan, the insured gets insurance coverage only for the damages sustained by their four-wheeler/car in a road accident, natural/man-made calamity, fire, explosion, theft or any other mishap.
Third-party vs Comprehensive Car Insurance
|Point of Difference||Comprehensive Insurance||Third-party Insurance|
|Definition||A comprehensive coverage provides complete protection for your car as well as third-party liabilities||A third-party insurance provides protection only if a third-party is damaged due to the insured vehicle|
|Coverage||It covers the financial loss to the insured car and a third-party||It provides financial compensation if there is a damage to a third-party|
|Legal Requirement||No, this type of policy is not legally required||As per the Motor Vehicles Act of 1988, this type of policy is a mandatory requirement|
|Cost||As it offers more coverage, it is generally costlier||It is more affordable as compared to a comprehensive plan|
|Exclusions||Any damage to the insured car or a third-party is not covered if you are driving under the influence of alcohol or drugs||Any damage to the vehicle is not covered|
|Add-ons||A number of add-ons can be included in a comprehensive plan||You can include add-ons in a a third-party insurance
Key Highlights of Four-Wheeler Insurance Policy
Given below are salient highlights of a four-wheeler insurance policy:
Coverage for third-party injury and property damage
Own Damage Cover
Covers the damage and loss incurred by the insured four-wheeler
Personal Accident Cover
Available up to 15 lakh
Various add-ons are available based on the policy such as zero depreciation cover, return to invoice cover, roadside assistance, etc.
Available at the network garages of the insurer
No Claim Bonus
Up to 50%
What Is Covered Under Car Insurance Policy?
Third Party Bodily Injuries
All bodily Injuries caused to someone else by your car in an accident will be compensated for by your insurance provider
Third Party Disability
If an accident caused by your car results in a disability of a third party, then the compensation for the same will be provided
Third party Death
Compensation will be provided in case an accident caused by your car results in a demise of a third party.
Third Party Property Damage
Damages caused to a third party’s property will be covered up to Rs. 7.5 Lakh.
Damages caused to your car in accidents or collisions will be covered.
Damages sustained by your car in natural disasters such as earthquakes, floods, cyclones, etc will be covered.
Damages incurred by your car in man-made disasters like riots, strikes, terrorsism, vandalism, etc will be covered.
Damage During Transit
Damages caused to your car during transit by road, rail, inland waterway, and lift will be covered.
Damages sustained by your car in fire and explosions will be covered.
Theft of Your Car
Loss of your car due to theft or burglary is covered.
What Is Not Covered Under Car Insurance Policy?
Claims for incidents when the insured was driving under the influence of alcohol are not admissible.
Driving Without Valid Driver’s License
No coverage is offered if the insured was driving without a valid driver’s license.
Wear and Tear/Depreciation
By default, no coverage is offered for depreciation expenses of the car.
No coverage is available for engine oil, brake oil, air conditioner refrigerant, radiator coolant, nuts, bolts, screws, washers, grease, etc.
No coverage is provided for mechanical/electrical breakdowns.
Driving Under the Influence of Drugs
Claims when the insured was driving under the influence of drugs are not covered.
Damage in War/Nuclear Attack
No coverage is provided for damages sustained in a war or nuclear activity/attack.
Damage to Tyre/Tubes Except in Accidents
By default, damages incurred by tyres and tubes, except in case of accidents, are excluded from the coverage
Damage Incurred Outside Covered Geographical Boundaries
No coverage is offered for damages incurred outside the coverage geographical limits.
How to Choose Car Insurance Policy Online?
Buying a four-wheeler 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 policy online:
Check the Different Insurance Types:With three different types of four wheeler insurance available, it is crucial to assess your 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 four-wheeler insurance plans, you can easily pick one that best suits your needs and budget.
Analyse the Car Insurance Premium:The premium of the coverage 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 four-wheeler 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 four-wheeler 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 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 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 plan even more. So, while buying an 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 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 four-wheeler 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 insurance companies in getting their 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.
Car Insurance Add-ons
Enhance the standard coverage of your car insurance plan with these helpful and economical add-on covers.
Pay As You Drive
Pay As You Drive is a recently launched add-on that you can include in your car insurance plan. It is also called Pay As You Go add-on and is available with a comprehensive car insurance plan. On the basis of the kilometres you drive, the car insurance premium will be accordingly determined and is thus an excellent way to save on car insurance premiums. As of now, there are only a few insurers that are offering Pay As You Drive add-on.
Bumper to Bumper Car Insurance
Bumper to Bumper is an add-on cover designed to give holistic coverage to cars irrespective of their part’s depreciation value. With this cover, the insurers do not deduct the depreciation cost from the compensation for the repair and replacement of car parts, excluding car batteries and tyres. In simple terms, it eliminates the depreciation part during the claim settlement and gives complete coverage for rubber, fibre, and metal parts of the car.
NCB Cover in Car Insurance
Your insurance provider rewards for not making a claim during a policy year. This reward is offered as a discount on the own-damage premium of your car insurance policy and is called the no claim bonus (NCB). It can go up to 50% of your own-damage premium rates. However, if you make even a single claim, this NCB gets lost. You can protect the loss of NCB by opting for a NCB protection cover.
Engine Protection Cover in Car Insurance
No coverage is offered for the damage incurred by the car’s engine due to oil leakage or water ingression. A standard car insurance policy only covers the damage caused to the engine during an accident. However, you can get a complete coverage for your car’s engine damage by opting for an engine protection add-on. It is one of the most opted for add-ons as the engine is the heart of the car.
RTI Car Insurance Cover
In case of complete total loss of your car, the Insured Declared Value (IDV) of your car is paid as the compensation amount by the insurance provider. However, the IDV amount is lower than the actual price paid by you at the time of purchasing your car. You can bridge this gap by opting for a return to invoice cover which provides you the amount mentioned in car’s purchase invoice in the event of your car’s total loss.
Roadside Assistance Cover Car insurance
The roadside assistance add-on cover provides you with on-road assistance services if your car breaks down anywhere. To avail this benefit, you just have to call your insurer and it will arrange a mechanic for your location to help you out. This add-on cover offers several assistance services such as minor on-site repair, changing a flat tyre, car towing, fuel delivery, battery jumpstart, and so on.
Consumable Cover in Car Insurance
When a car gets repaired, several consumable items are used like lubricants, coolant, nuts and bolts, grease, engine oil, screw, oil filter, etc. Generally, the expenses of consumable items are not covered by a car insurance policy and the policyholder has to bear this cost. But the consumable add-on cover reimburses the cost of consumables items incurred during the repair of an insured car.
Car Insurance with Accessories Cover
Different types of accessories are fitted in the cars to enhance their protection and beauty. These include stereo systems, reverse cameras, etc. These luxurious accessories are electrical and non-electrical. Since they are costly, it makes them theft-prone and can also bring a huge loss in case of accidents. Here, accessories add-on cover comes in to shield your car’s accessories by offering you additional coverage to reimburse them.
Passenger Cover in Car Insurance
Passenger add-on cover is an add-on cover that provides financial protection for the passengers riding in the insured car against liabilities arising from accidents. However, it is compulsory to own a personal accident cover to insure the owner-driver, but covering passengers is not mandatory. Still, you can opt for this benefit to cover passengers including your family members or your customers, if you have a commercial car.
Lost Key Add-on in Car Insurance
In case you lost or misplaced your car’s key, you need to get a duplicate key by approaching the service center of your car, which can be a time-consuming and expensive procedure. To reduce the hassle, you can opt for the lost key cover. It is an add-on cover that will reimburse the expense to repair or replace your car key, in case you lose, damage, or misplace them.
Personal Accident Insurance Policy
A personal accident cover or PA cover is a benefit provided by insurance companies to an owner-driver of an insured car to help them stay protected against any type of accidental injuries. This cover gives compensation to the owner-drivers to cover their bodily injuries, permanent disability or death incurred due to a car accident. An owner-driver is the owner of the car, who owns a valid and active driving license.
Tyre Protection Cover in Car Insurance
A tyre protection cover is an add-on cover designed to provide coverage for the repair as well as replacement expense of tyres of the insured car. This benefit also covers accidental loss or damage, bursting of tyre or cut sustained by the tyre and tubes in addition to labour charges incurred during the repair or replacement of tyres which comprise refitting, rebalancing or removing the wheel.
Explore Car Insurance
Top Car Insurance Companies in India 2023
There are 20+ best car insurance companies in India that sell car insurance online with different features, each unique in its own way. However, going through them individually would be a tedious task hence we have compiled a list of the top car insurance companies with their unique features to help you choose the right plan for your car.
Car Insurance Company
Claim Settlement Ratio
Disclaimer:*The above-mentioned claim settlement ratio (CSR) has been sourced from IBAI’s General Insurance Claim Insights Handbook - 5th Edition. InsuranceDekho does not endorse, rate or recommend any particular insurance company or insurance plan.
How to Buy Car Insurance Online?
The process of buying a car insurance online is quite simple and easy. Here’s how you can buy the right four wheeler insurance online with us.
- Fill Your Car Details
Provide your car details such as its make, model, etc, to see insurance price offered by top insurance providers in India.
- Compare Car Insurance Quotes
From all the available car insurance plans, select the plan which suits your budget & requirements in the best manner.
- Make Payment Online
Pay the policy premium online & get your car insurance document instantly in your inbox.
Documents Required to Avail 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
Listed below are the documents required to buy four wheeler insurance online:
Why Choose InsuranceDekho for Car Insurance Online?
- Car Insurance in Just 5 Minutes*
Wait no more! Get your car insurance online in just 5 minutes with our easy, quick and paperless car insurance policy issuance process.
- Over 45 Lakh Happy Customers
InsuranceDekho is a favourable choice among insurance buyers. Our transparent and quick process, availability of top-rated four wheeler insurance and dedicated customer support team has helped us win the love and confidence of over 45 Lakh happy customers
- 7 Days Dedicated Customer Support
Our dedicated customer support team is available at your service all the 7 days of the week. Feel free to reach out to us for any four wheeler insurance related assistance, be it for policy purchase or claim settlement, we are always there to help you.
Comparison of Different Car Insurance Plans
|Coverage||Third-Party Cover||Standalone OD Cover||Comprehensive Cover|
|Third-Party Bodily Injuries|
|Third-Party Property Damage|
|Personal Accident Cover|
|Theft of Car|
Why Should You Buy A Comprehensive Car Insurance Policy?
Every car owner should purchase a comprehensive four-wheeler insurance policy due to several reasons. Here are its top benefits:
1. Third-Party LiabilitiesComprehensive 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 CoverApart from the third party liability, comprehensive four wheeler 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 CoverPersonal 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 BonusOne of the biggest benefits comprehensive 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 ClaimsThe 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.
How to Calculate Car Insurance Premium Online?
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 plan, you can easily follow a few simple steps. Here is how you can calculate 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 four wheeler 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]
Calculating Third-party Four Wheeler Insurance Premium
Below mentioned is a table that highlights the premium for third-party car insurance plans:
Engine Cubic Capacity of Car
IRDAI Notified Third-party Insurance Premium
Up to 1000cc
Between 1000cc - 1500cc
More than 1500cc
Factors That Affect Your Car Insurance Premium
The 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 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 insurance provides coverage for third-party liabilities, comprehensive insurance provides complete protection to the insured car. On the other hand, standalone own-damage 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 premium of a comprehensive plan will be higher.
With comprehensive 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 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 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 coverage plan, the car insurance premium automatically gets affected. Thus, a No Claim Bonus benefit lets policyholders pay lower premiums.
- Insured Declared Value
Insured Declared Value or what is called IDV largely affects the 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.
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 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 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 premium.
- Geographical Location
Yet another factor that plays a crucial role in determining the premium is geographical location. For instance, if you live in an area where the chances of accidents or natural disasters are higher, then the 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 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 Four Wheeler 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 coverage 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 insurance premium will be lower. So, to save on 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 coverage 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 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 four-wheeler 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 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 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.
What is IDV and what factors affect IDV?
IDV stands for Insured Declared Value and is a crucial component in determining the premium amount and coverage of a comprehensive four- wheeler 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
Age of the Vehicle
Depreciation % for Fixing IDV
Less than 6 months
Between 6 months - 1 year
Between 1 year - 2 year
Between 2 year - 3 year
Between 3 year - 4 year
Between 4 year - 5 year
Car Insurance Renewal Online - Instant e-Policy
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.
How To File Online Car Insurance Claim?
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 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 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.
How to Compare Online Car Insurance Quotes at InsuranceDekho?
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 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 Four-Wheeler 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 insurance policy papers. In case you are unable to download a copy of four wheeler insurance, you should directly contact your insurance company
Frequently Asked Questions
What is a car insurance policy?It is an agreement between an insurance company and a car owner under which the former provides an insurance cover to the policyholder for financial damages incurred by his/her car in unforeseen events. Depending on the coverage, there are three types of car insurance plans - third party , standalone own-damage and comprehensive insurance. It's renewal online process provides instant e-Policy.
Why should I buy car insurance?
There are a number of benefits of owning four wheeler insurance. Firstly, it helps you meet the legal requirement of owning at least a third party cover. Moreover, an insurance policy helps you meet financial liabilities that may arise towards a third party or own damages to your car due to a road accident or any other unfortunate event.
How much fine do I have to pay for not holding car insurance while driving?
It is mandatory to own at least a third party car insurance policy while driving a car. If you get caught driving without it for the first time, you may be charged with a fine of Rs. 2,000 with or without imprisonment of a maximum of 3 months that can increase to a fine of Rs. 4,000 and/or jail of up to 3 months, when caught for the second time.
How much is car insurance premium?
The premium rates for third-party car insurance price depend on the engine capacity of the car and is fixed by the IRDAI. However, the premium for standalone own-damage and comprehensive car insurance policies varies from car to car depending on a number of factors such as car's MMV (Make, Model and Variant), RTO location, engine capacity, registration city, fuel type,
What if my car insurance policy gets expired?
Every car insurance comes with a validity period, post which you need to renew it to continue to enjoy its benefits. However, even if you miss to get your plan renewed by the expiry date, you can still get it renewed till the next 90 days from the date of expiry. After the expiry of this 90-day period, car insurance cannot be renewed. In such a case, you need to purchase a new policy.
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