How To Buy New Car Insurance Online?
How To Buy New Car Insurance Online?
Table of Contents
One of the most important documents that a car owner must have to legally drive on an Indian road is to have a car insurance plan. A car insurance plan is one that offers financial protection in case any uncertainty arises on the road. Moreover, as per the Motor Vehicles Act of 1988, it is mandatory to have a third-party car insurance plan, thus if you are buying a new vehicle, you must buy at least a third-party car insurance. Owing to the immense importance of car insurance plans, a number of insurance companies now provide car insurance plans. So, let’s help you with the process of buying a new car insurance plan online.
What is New Car Car Insurance?
A new car insurance policy is a contract between a policyholder and an insurer, through which the insurer agrees to compensate the policyholder in case their vehicle gets damaged due to any road-related uncertainty. With a car insurance plan, you can also get protection if your car is lost or stolen. There are three different types of car insurance plans as listed below:
- Third-party Car Insurance: Third-party car insurance is meant to offer financial compensation if a third party gets injured due to the insured’s vehicle. Moreover, third-party car insurance is a must-have for all car owners. However, there is no coverage if the insured’s car is damaged.
- Standalone Car Insurance: Standalone Car Insurance as the name indicates offers financial compensation in casethe insured’s car is damaged. This type of car insurance plan can also be bought with third-party car insurance.
- Comprehensive Car Insurance: A Comprehensive Car Insurance plan offers compensation for both third-party liabilities as well as if the insured’s car is damaged. Moreover, to further enhance the benefits of this plan, you can also add a number of riders to this plan such as zero depreciation cover, roadside assistance cover, and more.
How To Buy New Car Insurance Online?
Listed below are some of the steps you need to follow a new car insurance plan online:
- Research: First and foremost, it is important that you research the different car insurance plans offered by car insurance companies in India. While doing the research, check the coverage offered under the plan, as well as the customer care service and premiums.
- Select the Type of Car Insurance Plan: You also need to decide which type of car insurance plan you need to purchase such as Comprehensive Car Insurance, Third-party Car Insurance, and Standalone Car Insurance.
- Keep your documents handy You also need to keep all your documents ready pertaining to car insurance plans such as your vehicle registration certificate, vehicle model details, driving license, identity proofs, and other documents.
- Select the Add-ons: You can also include different add-ons to your car insurance plans at your convenience.
- Set the IDV: IDV or Insured Declared Value is the amount that your insurer will compensate in case your vehicle is damaged. The premium of the car insurance plan directly depends on the IDV, so you need to determine the IDV accordingly.
- Make the Payment: Finally, after you have entered all the required information, you can finally make the premium payment for your chosen car insurance plan. You can make the payment from a number of options available such as UPI, debit cards, credit cards, and others.
Popular Add-ons Available in Car Insurance Plans
There are a number of add-ons that you can easily include in your car insurance plans in order to enhance their benefits. Listed below are the popular add-ons available in car insurance plans:
- No Claim Bonus Protection Cover: A No Claim Bonus or NCB is one that is given to the policyholders in case no claim has been made. This type of bonus is accumulated every year, however, lapses in case you make any claim. However, with NCB cover, you will be able to keep your no-claim bonus intact.
- Zero Depreciation Cover: Every year, the value of your car only depreciates and so do the different parts of your vehicle. So, to avoid this depreciation, you can buy Zero Depreciation Cover and protect your vehicle against loss.
- Consumable Cover: A Consumable Cover compensates you for the cost of consumables that are required for the repair of the car such as nuts, bolts, etc.
- Roadside Assistance Cover: The Roadside Assistance Cover provides you with roadside assistance facilities such as when your car breaks down, is towed, or if the petrol is over. It is advisable to get Roadside Assistance Cover with your car insurance plan.
Take Away
Thus, you can easily purchase a new car insurance plan by following the above-mentioned steps. You can also explore a number of car insurance plans on the website of InsuranceDekho and get the best-suited car insurance plan for yourself.
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