How to Buy Car Insurance Online?
The process of buying a car insurance is quite simple and easy. Here’s how you can buy the right car insurance online with us.
- Fill Your Car Details: Provide your car details such as its make, model, etc, to see car 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.
Types of Car Insurance Policy in India
Vehicle insurance is one of the primary financial protections that a car owner should have. Despite the compulsion to buy a vehicle insurance policy by law, a car insurance policy is necessary to get adequate insurance protection for your car. There are three basic types of car insurance policies available in India:
Third Party Car Insurance
A third-party liability insurance policy is the most basic type of car insurance policy that is mandated by law. This insurance policy safeguards the car insurance owner from any type of legal liabilities that arise because of the involvement of the insured car in an accident. Under this type of car insurance policy, the insurer compensates against disability, injury, death, or property damage to any third party. In this way, a policyholder gets protection from the financial liability towards a third party.
Comprehensive Car Insurance
A comprehensive car insurance policy provides insurance coverage for both third-party and insured cars against losses and damages. As compared to a third-party liability insurance policy, a comprehensive car insurance plan provides extensive coverage and benefits for an insured car against damages and losses caused to it due to an accident, theft, collision, etc.
Pay as You Drive Insurance
This type of car insurance policy is also known as usage-based vehicle insurance. It allows a policyholder to pay the premium of the insurance according to the kilometers driven by the insured car. This insurance policy is introduced recently and will be useful for those who have multiple cars and hence do not use each of these very frequently. Currently, there are only a few insurers only who are offering this car insurance policy. This insurance policy provides comprehensive coverage for own damage and third-party liability coverage is provided on a pilot basis for a term of a year.
Buy & Renew Car Insurance Online
Buying a car insurance policy is mandatory in India for all cars as per the Motor Vehicle Act 1988. Car insurance companies compensate for the loss or damage caused to the insured Car and a third-party from the insured four-wheeler. Here are some of the reasons to buy a new car insurance policy in India:
- It pays for the car damages as a result of a collision, accident, death or natural calamities, which otherwise would need to be paid by the insured
- It pays for hospitalization expenses in case of an accident
- It reduces the financial and legal damages that can arise from a third-party liability or damage
- With rider benefits like roadside assistance, zero depreciation the expenses are further reduced
Moreover, the premium amount of your four wheeler insurance is decided based on the Insured Declared Value or IDV of the vehicle. If you increase the IDV, the premium rises and if you lower it, the premium reduces.
It is important for any policyholder to compare car insurance plans before going for 4-wheeler insurance renewal or buying a new policy. Compare various car insurance plans online on Policybazaar and buy the one that fulfils your expectations hassle-free:
Best Car Insurance Policy in India 2021
The following table shows the complete list of the best car insurance policy in India with their personal accident cover and the number of network garages offered by the car insurers:
|Car Insurance Company||Network Garages||Third-Party Cover||PA Cover Owner/ Driver||Incurred Claim Ratio % 2019-20||Minimum Policy Term|
|Bajaj Allianz Car Insurance||1024||✓||Up to Rs. 15 lakhs||65.83||1 Year||View Plan|
|Bharti AXA Car Insurance||3742||✓||Up to Rs. 15 lakhs||81.91||1 Year||View Plan|
|Chola MS Car Insurance||4636||✓||Up to Rs. 15 lakhs||82.95||1 Year||View Plan|
|Digit Car Insurance||N/A||✓||Up to Rs. 15 lakhs||74.82||1 Year||View Plan|
|Edelweiss Car Insurance||1268||✓||Up to Rs. 15 lakhs||116.31||1 Year||View Plan|
|Future Generali Car Insurance||3194||✓||Up to Rs. 15 lakhs||57.67||1 Year||View Plan|
|IFFCO Tokio Car Insurance||6757||✓||Up to Rs. 15 lakhs||87.77||1 Year||View Plan|
|Kotak Mahindra Car Insurance||2327||✓||Up to Rs. 15 lakhs||75.66||1 Year||View Plan|
|Liberty Car Insurance||4365||✓||Up to Rs. 15 lakhs||70.95||1 Year||View Plan|
|National Car Insurance||456||✓||Up to Rs. 15 lakhs||116.44||1 Year||View Plan|
|New India Assurance Car Insurance||456||✓||Up to Rs. 15 lakhs||85.35||1 Year||View Plan|
|Oriental Car Insurance||456||✓||Up to Rs. 15 lakhs||101.63||1 Year||View Plan|
|Raheja QBE Car Insurance||1000||✓||Up to Rs. 15 lakhs||103.9||1 Year||View Plan|
|Reliance Car Insurance||4779||✓||Up to Rs. 15 lakhs||84.63||1 Year||View Plan|
|Royal Sundaram Car Insurance||3868||✓||Up to Rs. 15 lakhs||92.23||1 Year||View Plan|
|SBI Car Insurance||2613||✓||Up to Rs. 15 lakhs||92.05||1 Year||View Plan|
|Shriram Car Insurance||2071||✓||Up to Rs. 15 lakhs||65.43||1 Year||View Plan|
|Tata AIG Car Insurance||1617||✓||Up to Rs. 15 lakhs||80.29||1 Year||View Plan|
|United India Car Insurance||456||✓||Up to Rs. 15 lakhs||96.45||1 Year||View Plan|
|Universal Sompo Car Insurance||1493||✓||Up to Rs. 15 lakhs||89.54||1 Year||View Plan|
What is car insurance?
A comprehensive car insurance policy, also known as motor package insurance, saves you money when your car is damaged in an accident or natural calamity. It also covers your vehicle against theft and burglary. At times, you may end up hurting others or damaging property in an accident. A car insurance policy covers such third party liabilities as well. If you own a car in India, having third party insurance is a must for you. That’s why it’s crucial to buy and renew your policy on time to stay on the right side of the law and be covered against car damages. At an affordable premium, our reliable car insurance policy protects you against all these risks so that you can drive worry-free.
Apart from comprehensive car insurance, third-party only and own-damage only car insurance policies are also available. You can choose the policy type as per your needs.
What are the different types of car insurance policies?
We offer all that you require! Choose as per your needs.
Private car package policy
A comprehensive car insurance policy offers complete protection to you. It covers not only the costs incurred on damages to a third party but also the damages to your car. This policy type also covers car theft and damages caused by fire, burglary and natural disasters.
Stand-alone own-damage car insurance
With our stand-alone own-damage car insurance, you are covered for any accidental damages to your car. These could be due to natural disasters like earthquake, flood, cyclone, and landslide, or due to manmade disasters like theft, burglary, riot or strike. To buy this insurance, you should have an active third party insurance policy of the vehicle.
Third party car insurance
In this type of insurance policy, you are covered against legal liabilities arising out of an accident. If your car causes injuries to a third party or damages surrounding property, then we will take care of the expenses.
Car Insurance | Easily Buy & Renew Car Insurance Online | Get Upto 75%* Off
Key Features of Car Insurance By TATA AIG
Benefits Of Tata AIG Car Insurance
Savings & Affordable Premiums
Save up to 75% on car insurance premiums by buying your policy online
Our 650 claim experts across India ensure an easy and quick claim process for you”
High Claim Settlement Ratio
Our 98% claims settlement ratio as of FY 2020-2021 can assure a high settlement ratio for car insurance claims
Our network of over 7500 garages ensures cashless services for your car repairs
Damages to third-party
Damages to a third party or third-party property are covered
Own Damage Cover
With our Own Damage cover for your car, we can cover damages from accidents, man-made disasters, and natural disasters
Customizable with Add-ons
Up to 13 add-ons to protect your four-wheeler with an all-round car insurance policy
No Claim Bonus (NCB)
Up to 50% discount on car insurance premiums after 5 consecutive claim-free years
Buy/Renew Car insurance Online
Quick renewal of your car insurance with an easy 3-step process with Tata AIG
Why Do You Need Car Insurance?
Car insurance or a four-wheeler policy is necessary to protect your car and you from various situations and scenarios that lead to financial damages. Here are some of the reasons why you need to have a third-party or comprehensive four-wheeler insurance policy
Car Insurance | Buy or Renew Car Insurance Policy Online | HDFC ERGO
Car insurance is of paramount importance to ensure you do not suffer financial losses if your car undergoes damage due to natural calamities, accidents or if you are an unfortunate victim of car theft. It is your shield against the many uncertainties your car can be subject to! Don’t leave your precious four wheeler vulnerable to risks. Secure your car with HDFC ERGO’s car insurance and ensure peace of mind for yourself and affordable protection for your car with discounts of upto 70% on premium^. To top it get the advantage of over 7100** cashless network garages and enjoy a stress free drive!
Get Car Insurance Online | Buy/Renew Car Insurance Policy – Coverfox
Car insurance is designed to offer protection against any financial loss arising due to accident, whether it be with another vehicle or against any object, theft of the vehicle or important parts of it, water damage or fire damage etc. A comprehensive insurance cover also protects you against any liability arising out of an accident involving a third party, person or property. All kinds of natural calamities and man-made calamities are also covered.
Know this Before Selecting Your Car Insurance Policy
• Compare Car Insurance Online
• What is Covered
• Incurred Claim Ratio/Claim Settlement Ratio
• Add-on Covers
Comparison Between Comprehensive – Third Party Cover?
Here is a comparison of Comprehensive vs Third Party Cover Car Plans:
|WHAT IS COVERED?||THIRD-PARTY||COMPREHENSIVE|
|Third-Party Vehicle Damage||✔||✔|
|Third-Party Property Damage||✔||✔|
|Own Vehicle Damage||✖||✔|
|No Claim Bonus||✖||✔|
|Damage from Natural Calamities||✖||✔|
|Personal Accident Covered||✔||✔|
|Engine Protection||✖||Through Add-on|
|Zero Depreciation Cover||✖||Through Add-on|
|NCB Protection||✖||Through Add-on|
|Invoice Cover||✖||Through Add-on|
Top 8 Car Insurance Policy – Premium Breakup in July 2021
What is Covered in Car Insurance Policy?
Your four-wheeler car insurance plan covers the following instances:
- Any form of loss/damage to the policyholders’ vehicle
- Damages arising out of an accident or events like theft, fire, explosion, self-ignition, lightning, riots, strikes or act of terrorism, natural calamities, and more
- Damages to third party/person/property
- Personal Accident Cover of up to Rs. 15 lakhs
What is Not Covered in Car Insurance Policy?
Your four-wheeler car plan does not cover the following instances:
- Loss/damage incurred when the policy is not in effect
- General wear and tear; depreciation
- Loss/damage due to driving without a valid car license
- Loss/damage due to driving under the influence of alcohol, substance abuse, drugs, narcotics, etc
- Loss/damage to the car engine via oil leakage
- Loss/damage due to commercial use of the private vehicle
20+ Best Car Insurance Companies in India 2021 (IRDAI Approved)
Here is a comprehensive list of the best car insurance companies, their respective plans, claim settlement ratio, and network garages in India for 2021.
- Bajaj Allianz Car insurance
- Bharti axa Car insurance
- Cholamandalam Car insurance
- Digit Car Insurance
- Edelweiss Car Insurance
- Future Generali Car Insurance
- HDFC ERGO Car Insurance
- IFFCO Tokio Car Insurance
- Kotak Mahindra Car Insurance
- Liberty Car Insurance
- National Car Insurance
- New India Assurance Car Insurance
- Oriental Car Insurance
- Universal Sompo Car Insurance
- Reliance Car Insurance
- Royal Sundaram Car Insurance
- SBI Car Insurance
- Shriram Car Insurance
- Tata AIG Car Insurance
- United India Car Insurance
- Raheja QBE Car Insurance
Disclaimer: *The above information on Incurred Claim Ratio has been sourced from IRDAI’s Annual Report (2019-20). The cashless garages network information has been collated from the Insurance Company’s Website.