Renew Your Car Insurance During Coronavirus Lockdown

The contagious pandemic Coronavirus Disease (COVID-19) has spread to 189 countries and has claimed over 23,700 lives. At the moment, while the global count of confirmed COVID-19 cases stands at over 5,29,000, the disease has infected more than 700 people in India. Thus, in an attempt to contain the spread of the virus, Prime Minister Narendra Modi has imposed a three-week nationwide lockdown till April 14.

While the lockdown is essential at the moment, it has also created some degree of panic amongst people regarding the normal functioning of everyday activities. This article is aimed at addressing all your concerns regarding the insurance policy of your much loved car/bike.

How Can I Renew My Car Insurance During Coronavirus Lockdown?

One of the most buzzing questions currently is how to get the motor insurance policy when the country is under a lockdown. Well, we at InsuranceDekho understand and stand together with you in this tough time and are there at your service to keep your motor insurance renewal process hassle-free.

If your motor insurance policy is due for renewal or is heading towards its expiry, you can get it renewed instantly in just 2 steps at InsuranceDekho.

How To Renew Motor Insurance Instantly at InsuranceDekho?

You can get your policy renewed right away by visiting Insurancedekho.com by following the below-mentioned steps:

Step 1: Click on the option “Renew Policy Instantly in 2 steps”. Enter the registration number of your last year policy bought at InsuranceDekho and proceed by entering the OTP sent to your registered mobile number.

Step 2: Tell us if you had made any claim during the last policy period or not, so that we can display the quotes considering the applicable No Claim Bonus (NCB). Choose the plan and make the payment. You are done!

Do I Need To Renew My Car Insurance During Coronavirus Lockdown?

If your motor insurance policy is due for renewal, then yes, you need to renew your policy even during the coronavirus lockdown in India. This is because, as per the Indian Motor Tariff, at least a third party motor insurance policy is a mandatory requirement for all vehicle owners in the country. Under the current traffic rules, driving an uninsured vehicle, i.e. a vehicle without at least a third party only car insurance, attracts a fine of ₹2,000 and/or imprisonment of up to 3 months for the first time offence.

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Disclaimer: This article is issued in general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

Add-ons For Your Car Insurance Policy

  • Zero Depreciation

    A car's value depreciates constantly with time. Thus, at the time of a claim settlement, the depreciated value of a car is deducted from the claim amount. However, by opting for a zero depreciation add-on you can shift the liability of the depreciation cost to the insurer and get the entire claim amount without any deduction of the depreciation sum. This add-on is generally available till the age of 5 years of car, however, the car age limit varies from insurer to insurer.

  • NCB Cover

    A No Claim Bonus (NCB) is a discount given by the insurer in the premium amount to a car insurance policy holder for not making a claim in the entire tenure of the four wheeler insurance policy. This discount is not available if the policy holder has made even a single claim. However, with the NCB cover, a policyholder will be entitled to receive an NCB discount despite having made a claim subject terms and conditions of insurance company. The NCB discount keeps on increasing with every claim-free year until it reaches 50%.

  • Engine Protection Cover

    A car's engine is by default not covered under either a comprehensive or a standalone own-damage car insurance policy. And therefore, if it gets damaged due water-logging or oil leakage, your insurance company is not liable to pay for its damages. But, if you opt for the add-on known as Engine Cover, you can get your car's engine insured by the insurer for damages incurred due to water ingression as well as leakage of lubricants. Engine Cover is one of the most popular car insurance add-ons and is available against the payment of a nominal premium.

  • Invoice Cover

    If you have a return to invoice cover added on to your comprehensive car insurance policy, you can claim the total ex-showroom price of your four wheeler, taxes and registration charges, in case of total loss. In case of total constructive loss (more than 70% of damage) or theft of your car, an insurance company pays the Insured Declared Value (IDV) of your car as compensation. However, this IDV is lesser than the actual amount paid by you at the time of purchasing your car. When you opt for the add-on called Return To Invoice Cover with your car insurance policy, the insurance company pays the total ex-showroom price of your car plus the taxes and registration charges incurred at the time of purchase, as the claim amount in case of total loss.

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