Car Insurance

The difference between a comprehensive and a third-party policy can be drawn from the below-mentioned table.

Below are the inclusions under car insurance:

1. Natural disaster coverage which includes coverage from floods, storms, cyclone, earthquakes, etc
2. Personal accident cover - amount dependent on the insurer
3. Access of cashless repairs in network garages
4. Choose from different add-ons
5. Coverage for accidents, theft, and terrorism
6. Coverage for third-party legal liabilities
7. No claim bonus benefits

What is Not Covered Under Car Insurance Policies?

Below are the exclusions under car insurance:

1. Ageing and wear & tear of your car
2. Breakdown - both mechanical and electrical
3. Any damage coming due to being under the influence of drugs or alcohol
4. Damages caused while driving without a valid driving licence
5. Any loss that is consequential
6. Any loss or damage caused due to war or nuclear risk

When you choose to expand your car insurance coverage to another year then you opt for car insurance renewal. Your car insurance policy term is of one year, after this term is over you are required to renew your car insurance. Here are some of the main reasons why you should be renewing your car insurance policy on time:

• Legal Compliance: It is mandatory to have third-party insurance under the Motor Vehicle Act of 1988. Failure to do so can cause fines or imprisonment since you are not compliant with the law.
  
• Financial Protection: Not renewing your car insurance policy on time can take away all your coverage and protection leaving you financially liable to pay your expenses from your own pocket for both your own car damage and repair and third-party coverage.
  
• No Claim Bonus: When you do not make a claim in a particular year, you get no claim bonus that can either be deducted from your next premium payment or be added as an additional amount to your overall premium. Not having insurance cancels out this no-claim bonus amount.

Process of Car Insurance Renewal

Online Process

• Step 1: On the official InsuranceDekho website click on "Support"
• Step 2: Go to the "Renew Policy"
• Step 3: Click "Send OTP" after entering your mobile number
• Step 4: You will be given access to your car insurance policy details
• Step 5: Click the "Renew" button and then you can renew your policy
• Step 6: Lastly, complete the payment to finalise the policy renewal. After successful payment, your car insurance policy will be renewed

Payment Options:

You can choose to make the payment using any of the following modes:

• EMI (Equated Monthly Instalments) or yearly payment
• Credit Card
• Debit Card
• Digital Payment Applications, if applicable.

Offline Process

InsuranceDekho offers offline help in renewing your car insurance policy.

Call or Home Assistance by InsuranceDekho: You can connect with an InsuranceDekho advisor on call to get complete assistance or request home assistance in case you are unable to renew online or on call or when you need home assistance due to a personal emergency.

Policy renewal is a simple and smooth process if you do it through InsuranceDekho. Follow the given steps to renew your car insurance policy from InsuranceDekho’s official website.

Online process

• Step 1: Visit the official website of InsuranceDekho and click on "Support" located on the top bar.
• Step 2: A dropdown menu will appear, click on "Renew Policy" to proceed.
• Step 3: Enter your mobile number and receive OTP to LogIn to your dashboard.
• Step 4: You will see all your policies on the dashboard, select the policy you want to renew.
• Step 5: Click on the "Renew" button to go to proceed with payment for renewal.
• Step 6: To complete the renewal process, make the payment after which your car insurance renewal is completed. You can download the policy documents once the policy status is delivered.

You can make the payment from any of the below-mentioned modes:

• EMI (Equated Monthly Instalments) or yearly payment
• Credit Card
• Debit Card
• Digital Payment Applications, if applicable.

Offline process

Alternatively, you can take an offline approach to renew your policy. This is beneficial if you have some queries you want to be addressed before purchasing car insurance. You can renew the policy through offline modes by:

• Call or Home Assistance by InsuranceDekho: Connect with an InsuranceDekho advisor on a voice call through the ‘Call Back’ option on the website. The advisor will schedule a visit according to your availability and shall help you with the renewal.
• Visit the Insurer's Branch Office: If you prefer to contact the insurer directly, you can do so by visiting the branch office of the insurer in your city and seeking assistance with the renewal process.

Note that if your policy has expired, you get a grace period between 30-60 days depending on the insurer. If you renew the policy within that period, you will not lose any of the benefits like NCB or approval without inspection. In contrast, if you renew after the grace period you will lose your NCB, might have to pay a much higher premium, and maybe will have to go through an inspection.

How to Save on Premiums While Renewing Your Car Insurance?

Premiums depend on many factors, mostly on the type and condition of your car. The IDV and make, model, and variant influence your premium significantly. Apart from choosing a car that is basic and not luxurious or sporty, you can reduce your premium by:

• Comparing Quotes: Compare quotes from various insurers and find the policy that is less costly but does not make a compromise with covers.
• Increase Your Deductible: Deductible is a pre-agreed amount which is the minimum amount a customer has to pay while repairing the vehicle. If the cost of repair is less than the deductible amount, no claim is provided while when the cost of repair crosses the deductible amount, then the insurance company provides cover for the amount on top of the deductible amount to get your car repaired.
• Pay As You Drive Add-On: This Add-on is offered by a few insurance companies. Pay As You Drive enables you to take a policy which is designed for cars that are driven less frequently. You can customise your policy by choosing the number of kilometers for which you need coverage, lesser kilometers would mean a lesser premium.
• NCB: No Claim Bonus is the discount you get on renewal if you have not filed any claim during the policy. No Claim Bonus varies from 20% to 50% depending on the number of years without a claim.

Buying the right car insurance plan for yourself is a simple process. Once you are clear with what your requirements are, you simply have to put them to use while selecting a car insurance policy that can cover your requirements. Some of the key factors to consider along with your need are mentioned below:

• Check the insurance type required: Based on your needs, check which insurance type would you like to buy. Since third-party car insurance is mandatory, you must check the benefits of buying a standalone own damage car insurance separately or a comprehensive car insurance which offers benefits of both standalone own damage and third-party car insurance.
• Check IDV: Check for the Insured Declared Value (IDV) of your vehicle. Insured Declared Value in simple terms defines the market value of your car. This metric must be checked as this is the maximum amount that your insurance company will pay you in case your car gets stolen or damaged.
• Add-Ons Offered: Apart from a few add-ons, every car insurance company offers a different set of add-ons. Choose a plan that fits your requirements and offers the add-ons based on your needs.
• Cashless Garage Network: It is important to check the total number of cashless garages the insurer has in your city and in case you are a frequent traveller who enjoys commuting in your car, then the number of cashless garages the insurer has across India. Cashless garages provide a hassle-free repair experience where the customer has to pay nothing upfront to get the car repaired. A higher number of cashless garages of an insurer is good for the customers as the garages would be more easily accessible.
• Claim Settlement Ratio: Any company’s claim settlement ratio or CSR is a reflection of their customer-centric approach and how active they are in solving a customer’s query in distress. It is advised to compare the CSR of your shortlisted companies among other things as this will help you in making an informed decision.
• Services Offered: It is also good to see the list of services offered by the insurer like 24*7 customer support, emergency services and help offered, home pick up and drop, home repair, etc.
• Car Model: The model of the car you have impacts the cost of your insurance premium. Premiums of cars above rupees 15 lakh are usually higher than for cars under 15 lakh. Premiums of luxury cars are even higher.
• Age of Vehicle: The age of your current vehicle also determines the cost of your car insurance premium. Usually, vehicles that are less than five years old are low-risk vehicles and the premium is lower, whereas vehicles that are over five years old are considered high-risk vehicles and tend to have higher policy premiums.
• No-Claim Bonus: Your No Claim Bonus is a direct discount given to you on your policy renewal in case you did not take any claim during the policy period. The No Claim Bonus is effected by your past driving history including your past road accident history, breach of traffic rules and it influences your insurance premium as well. If you take a claim, your No Claim Bonus will instantly become zero unless a No-Claim Bonus Protector was added to your policy.
• Credit History: The credit history of the driver/owner of the vehicle also leads to change in the premium price as your credit score helps in determining whether you will pay your premium on time or not.
• Geographical Location: The geographical location from where you buy the car or where you live also determine the cost of your premium. Premiums in metro cities are higher than that in tier 2 and 3 cities.
• Deductibles: Deductibles are the amount you agree to pay from your pocket in case your vehicle meets with an accident or there is any theft or damage due to natural calamity.

There are 2 types of claim settlement processes, cashless claim process and reimbursement claim process.

Cashless Claim Settlement Process

In a cashless claim settlement process, the car is repaired at a cashless garage where the policyholder does not have to pay anything upfront. The amount of repair is directly paid by the insurer to the garage providing the policyholder a very smooth and hassle-free experience.

Reimbursement Claim Settlement Process

The reimbursement process allows a policyholder to get their car repaired at a garage of their choice and then get the billing amount reimbursed to them by the insurer.

How to File a Claim?

Online

To initiate a claim, you have multiple options. You can reach out to InsuranceDekho via our toll-free number at 7551196989 and get assistance with settling your claim

Offline

You also have the option to file your car insurance claim offline through InsuranceDekho. Simply reach out to our customer support team at 7551196989 or send us an email at support@insurancedekho.com to schedule a home visit from our relationship manager.

Our dedicated relationship manager will meet you in person and offer assistance throughout the claim settlement procedure.

Documents Required for Claim Settlement

Here are the documents required for a smooth claim settlement:

• Original claim form with NEFT mandate form
• Copy of registration certificate (RC)
• Copy of the driving licence of the person driving the vehicle at the time of accident
• Copy of policy
• Certified copy of one officially valid document & PAN card/form 60
• FIR or police report (depending on loss type)
• Garage estimate
• Repair invoice
• Cancelled cheque (in case of non-cashless settlement)

Common Reasons for Claim Rejection

The common reasons for rejection of claims are:

1. Not providing all required documents for claim settlement like proof of correct bills, surveyor’s report, etc
2. Making false claims or when the damage was caused under the influence of drug or alcohol
3. Intentional harm caused to a third-party
4. Intentional damage caused to own vehicle for availing insurance

Tips for Avoiding Claim Settlement Issues

• Understand Your Policy: Know what your policy covers, excludes, and the claim procedure process by reading your policy document carefully.
• Keep Documentation Handy: Maintain a clear record of policy documents, proof of insurance, receipts, and other related documents for easy reference.
• Notify Insurer Promptly: Inform your insurer as soon as possible after an incident, providing accurate details to prevent delays or disputes when filing for claim.
• Follow the Process: Follow the insurer’s claim filing steps, submit required forms, and respond as soon as possible to any additional requests or questions.
• Use Authorized Service Centres: Use insurer-approved service workshops when requiring repairs to simplify the claim process and avoid unnecessary complications.

You can download a car insurance policy online through InsuranceDekho or through the insurer's website.

Download from InsuranceDekho

Follow the given steps to download your policy documents from the InsuranceDekho website:

• Go to the official website of InsuranceDekho.
• Please click on the LogIn button on the top right corner of the screen.
• A pop-up window will appear asking for your registered mobile number, providing the correct number as you will receive an OTP to sign in.
• After filling out the OTP, you will be redirected to your dashboard where you will find all of your active policies.
• Proceed by selecting the specific policy whose documents you need to download.
• Download the policy documents by clicking on ‘Download’.

Download from the Insurer's Website

While InsuranceDekho provides a smooth and convenient way of downloading policy documents, you can download policy through the Insurer website as well. The steps will be similar and if you are unable to do so, contact customer support and seek assistance to download your policy documents.

• Deductibles: The amount which you agree to pay from your own pocket during a damage, repair or replacement need
• Premium coverage: The maximum amount for which your insurer covers your car under a third-party, comprehensive or standalone own damage insurance
• Collision Coverage: Covers the damage caused to your vehicle regardless of who is at fault during an accident. In case of a collison, your insurer covers the cost of repair minus the deductible agreed upon.
• Comprehensive coverage: Covers you financially and legally for both your standalone own damage as well as third-party damage
• Personal Injury Protection: Covers you from day 1 on any injury caused to self during an accident
• Policy Limits: The maximum amount that your insurer will pay during a claim