Car Insurance

Get a cover against damage or theft of your four-wheeler with the right car insurance. On Bajaj Markets, you can compare policies and get one starting at just ₹2,094/yr. With the right plan, you can get expensive parts replaced or repaired more affordably.

 

Since third-party insurance is mandatory as per the Motor Vehicles Act of 1988, waste no time in choosing the right policy. To get additional benefits during accidents or disasters, go for a comprehensive insurance plan.

Car Insurance Plans Available on Bajaj Markets

There are several car insurance providers you can choose from, each offering unique features. Instant settlements of your claims, 24x7 assistance and cashless services in garages across the country are some features to look for. 

 

Here is an overview of some of the best options that include such benefits:

Insurance Provider

Claim Settlement Ratio

Starting Premium

Cashless Network Garages

Bajaj Allianz Car Insurance

98.54%

₹2,094

4,000+

SBI General Car Insurance

98%

₹2,094

7,200+

HDFC ERGO Car Insurance

99%

₹2,094

8,200+

TATA AIG Car Insurance

98%

₹2,094

7,500+

Disclaimer: The above-mentioned details are indicative and subject to change as per the insurance provider’s latest updates.

How to Apply

Getting insurance is simple once you have finalised the insurer and the policy. To get your car insurance policy online, follow these steps:

  • Navigate to the ‘Car Insurance Premium Calculator’ page.

  • Fill in your mobile number, vehicle type, make and model of your insured car, car number, and registration date. 

  • Choose the type of insurance policy you want to purchase. You can also choose the add-on covers. 

  • Fill in your details like your name, email ID, date of birth, residential address, etc. to proceed.

  • Enter your car’s engine and chassis number.

  • Enter the details of your previous car insurance policy, if any

  • Cross-check all the details you have entered.

  • Choose a suitable payment facility to safeguard your vehicle with car insurance.

 

You will receive your policy document soon.

Features & Benefits

The ideal car insurance helps protect your finances and vehicle, and here is an overview of how it enables peace of mind:

Different Cover Options

Different Cover Options

Commonly offered options are third-party, standalone own damage, and comprehensive, which includes both. You have the flexibility to choose an option that best suits your needs.

Add-on Covers for Added Protection

Add-on Covers for Added Protection

Insurance providers enable you to enhance the coverage of your policy through add-ons. You can customise your protection with any of these covers, which come with an added cost.

No Claim Bonus (NCB)

No Claim Bonus (NCB)

Most car insurance policies offer this benefit when you do not make any claims in a policy year. It rewards you in the form of a discount on your upcoming premium, making your policy more affordable.

Cashless Claim Facility

Cashless Claim Facility

This enables you to get your car to a garage in your insurer’s network and get repairs/replacements without paying out of pocket. The insurance company clears bills directly with the garage as long as yREAD MOREou follow the right process of making a cashless claim. READ LESS

Should You Get/Renew a Car Insurance Policy Online or Offline?

While you have both options at your disposal, you may enjoy greater convenience via the online route. Here is a detailed look into what both modes entail.

 

With the online mode, you can:

  • Get the policy conveniently, at any place and at any time

  • The process is transparent

  • Complete the process with minimal paperwork and upload them online 

  • Carry out research easily and compare options to make an informed decision

  • Connect with the customer support team at any time

 

With the offline mode, you will have to:

  • Visit the insurer’s office with hard copies of the required documents

  • Pay marginally higher costs as the operational costs may be higher 

  • Bear the risk of less transparency

  • Connect with agents or the customer support team only during stipulated hours

 

It is no wonder that choosing to get/renew your car insurance policy online is considered both easier and quicker. However, ensure that you choose the right insurance provider and policy.

Coverage Under Car Insurance Policy

Here is what you need to know about the three options you have under four-wheeler insurance:

  • Third-Party Insurance

This is among the most common options, primarily because having a third-party cover is compulsory. Under it, the insurer will cover the costs only for the third-party damages, be it related to a person, property or vehicle. The cost of the injuries and damages to you and your car are not covered. 

  • Standalone Own Damage Cover

With this policy, you get coverage for the damages sustained to your car only. You can get this with a third-party cover for broader protection from natural or man-made calamities, theft, and accidents. 

  • Comprehensive Cover

This is a mix of third-party insurance and a standalone own damage policy as it covers both you and the third party. It can thus cost more than the other options. However, since it offers the most enhanced coverage, it is a good investment for your car and finances.

Why Do You Need Comprehensive Car Insurance?

Purchasing four-wheeler insurance with comprehensive coverage is beneficial in many ways, allowing you to secure your financial and physical health. Some of these are:

  • Helps You Comply With The Law

Having a comprehensive cover is not mandatory, but it can help you stay compliant with the law since it includes a third-party cover. If you fail to comply with this regulation, you may have to pay hefty fines and suffer other consequences, including imprisonment. Your license may also be suspended without third-party coverage.

  • Offers Protection for the Third-Party

In case of an unfortunate event, the insurer will cover the costs of treatment of the other person's injury or death. The insurance plan will also cover the costs for the damage caused to the third-party vehicle or property.

  • Covers You and Your Vehicle 

Regular third-party coverage does not offer protection for the injuries that you sustain or the damage caused to your car. You can get this protection with a standalone own damage policy, but you still need a third-party liability cover. 

 

Managing two policies can be tiresome and expensive. However, with a comprehensive cover, you get both with one policy. This helps save you time and finances, all while keeping you and your vehicle protected.

How to Choose the Right Car Insurance Policy Online

The availability of so many car insurance policies can be daunting and, if you are not careful, leave you underinsured. Rather than risking your finances and car, choose the right policy with a checklist in place.

 

Here are some important factors to consider before choosing a car insurance policy online:

  • Cover Type

Decide the type of coverage you want to narrow down your options and choose the right insurer and policy. For instance, if you want comprehensive coverage, go with an insurer known to offer more value at a nominal premium.

  • Inclusions and Exclusions

While there is a standard set of inclusions and exclusions in a car insurance policy, they can vary across insurers. Ideally, you should ensure that the policy covers costs that you have a greater possibility of incurring. Look for a policy that offers more inclusions to widen the scope of your cover. 

  • Premium Amount

Choose the most cost-effective policy offering the coverage you want. First finalise your policy’s must-haves and then compare the car insurance quotes for options you have shortlisted. 

  • Insured Declared Value (IDV)

This is the amount that the insurer will provide in case your car is stolen or cannot be repaired. It determines the market value of your car and affects your premium as well as coverage. Ensure that you compute it correctly by using an IDV calculator. 

  • Add-Ons

These options help boost the coverage of your policy, but not all insurers offer the same options at the same price. Compare these across companies and select a provider who offers the add-on you need at an affordable price. 

 

For instance, if you want NCB protection, choosing an issuer not offering it or offering it at a higher cost is not beneficial. 

  • Network Garages

Most insurers have tie-ups with certain garages across India to offer the cashless claim facility. Choosing an insurer with a smaller network may not be ideal as you may not get the assistance you need. 

 

Check the insurance provider’s network list and ensure that it covers the areas that you visit or are likely to visit. You can find these details online categorised by state and city. 

  • Claim Settlement Ratio

This ratio is calculated based on the number of claims that the insurer has passed against the number of claims made. For instance, if the insurer passes 98 claims out of 100, the ratio will be 98%. 

 

Choose an insurer with a higher settlement ratio to ensure that your claim is likely to be approved, if and when you file it. 

  • Claim Process

If the process to file a claim is not easy and seamless, it will simply add to your stress. Additionally, there are certain terms and conditions that you need to follow to ensure you can file a claim. 

 

Since all this varies across insurers, pick the one known for hassle-free processes and customer-friendly terms. 

  • Customer Service

Read the reviews of insurers you have zeroed in on to see how the experience of other customers has been. For the most convenient experience, pick the provider who is known to offer:

  1. Various digital and online modes of getting in touch 

  2. Customer-first policies

Read More

Add-On Covers in a Car Insurance Policy

Improving your car insurance coverage is easy when you select appropriate add-ons. Some of the commonly offered covers are:

  • NCB Protection

Insurance providers offer this bonus when you do not file a claim during the policy period. However, if you do file a claim, you are ineligible for this bonus. Since NCB can help lower your premium amount, missing out on it can be a loss.

 

Your NCB add-on will remain intact during the car insurance renewal process even if you file a claim during the policy year. This is what makes it so popular. 

  • Roadside Assistance Cover

Although insurers offer a wide network of garages, they may not be accessible in remote locations. During such instances, you can rely on this add-on cover. Under it, the insurance provider will offer 24X7 service to assist you during a breakdown or other emergencies. 

 

This may include a team to refuel your car, tow it, repair a flat tyre, or even arrange for cab services. These services will vary depending on the insurer and your chosen policy.

  • Zero Depreciation Cover

Your car is an asset, and its value will depreciate over time due to regular wear and tear. This can result in out-of-pocket expenses as insurance providers do not cover depreciation costs. However, with this add-on cover, you can forego such expenses. 

 

Remember, there will be certain terms and conditions that this cover comes with, such as it will be applicable only for the first two claims. Go through these conditions carefully before you add the cover to your policy.

  • Engine Protector Cover

A regular car insurance policy does not cover the cost incurred due to the damage to your engine. Since such costs can be high, paying for them from your pocket can be a strain. By getting this add-on, you can extend your policy’s cover to your engine as well.

  • Daily Allowance

In some cases, your car may have to stay in the garage for a longer period. During this period, you may have to look for other modes of transport. By getting this add-on cover, you can pay for alternate transportation through your insurance. 

 

Generally, insurers offer daily allowance up to two weeks. However, it varies depending on the company and the policy you choose.

  • Lock and Key Replacement Cover

If you lose the key to your car or if the lock needs repair, the cost is not covered by standard car insurance. With the help of this add-on, you can cover these costs through your policy.

  • Tyre Cover

As the name suggests, this add-on offers coverage for the cost of your car’s tyres, which makes replacing tyres and tubes more affordable. Generally, it is applicable in case of burst tyres, punctures, cuts, or bulges. This will vary across insurers and plans, so read the terms before you add it to your policy. 

  • Return to Invoice

With this add-on cover, you can protect your car to its full invoice value. The insurer will pay the full cost of your car in the event of loss or theft. However, this will also have terms and conditions that you must go through before opting for it.

  • Personal Accident Cover

This is a mandatory cover that you must have along with a third-party car insurance policy. With this, you can get compensation in case of injuries, disability, or death resulting from an accident. 

 

This is offered to the owner-driver of the insured vehicle, who owns the vehicle and has a valid driving licence. 

  • Personal Baggage Cover

If you don’t want to end up with lost or damaged personal belongings, this add-on cover can help you recover the cost via insurance. However, remember that different insurance providers will cover different types of belongings. 

 

For instance, your laptop, clothes, CDs, or audio tapes may be covered, but your jewellery, cards, or money may not be. Read through the terms before you add it to your car insurance policy.

  • Passenger Cover

This add-on cover extends coverage to the passenger of the car. Like the Personal Accident cover, it offers compensation for injuries, disabilities, or death due to an accident. However, this is not a mandatory cover. 

 

Although the above add-on covers are common, their availability will depend on the insurance provider and policy you choose. You may also find other covers that may not be listed above. Review your options carefully to add only the ones you need.

Factors Affecting Car Insurance Premium

Insurance providers charge a premium in exchange for coverage. This amount depends on a number of factors, such as the type of your car, policy, and more. Here is a brief overview of the top factors that influence the cost of your car insurance policy:

  • Age of the Car

The coverage you get depends on the IDV, which depends on how old your car is. Generally, newer cars have a lower IDV. Once your car starts to depreciate, the IDV decreases, which results in a lower premium. Thus, a new car will have a higher premium compared to an older one.

  • IDV

Insured Declared Value represents the market value of your car, and significantly impacts the premium amount. A lower IDV means the sum insured is lower, resulting in a low premium. On the other hand, a high IDV can result in a higher premium amount due to a higher sum insured.

 

Insurers calculate IDVs using their own criteria. If you are unhappy with the IDV of your current insurer, you can switch plans when the time comes to renew the policy. The process of online car insurance renewal is easy, and you can find a suitable policy on Bajaj Markets during this time. 

  • Type of Coverage

Car insurance offers three types of coverage options and since their scope is different, the premiums vary too. Generally, comprehensive covers are more expensive than the others because they offer a broader cover.

  • Engine Capacity

Your car’s engine has a direct impact on the premium amount you pay. If the engine's cubic capacity is high, the premium will likely be high and if it is low, the premium will be lower. 

 

This is primarily because the engine capacity also affects the value of the car. A higher engine capacity can imply that it is an expensive car and vice versa.

  • Claim History

If you have made multiple claims during the policy year, the insurer will likely charge a higher premium during the car insurance renewal process. This is because you pose a higher risk, which the insurance provider offsets with a higher premium.

 

On the other hand, if you have not filed any claim, the insurer will likely offer a No Claim Bonus. The more the number of consecutive claim-free years you have, the higher the discount you get. This can lead to a very affordable premium. 

  • Add-Ons

These help you secure extra coverage and based on their features, add-ons come at different rates from different providers. Be careful about which ones you choose as costly add-on covers will result in a more expensive car insurance policy.

  • Deductibles

This refers to the part of the claim amount that you will have to pay. If you choose a higher deductible, the premium amount will be low because the insurer’s liability is low. However, a higher deductible also means that you will have to pay a higher amount at the time of claim. 

 

For instance, if the deductible is ₹3,000 and the claim is for ₹5,000, the insurer will only pay ₹2,000 and you will pay the remaining amount. If the claim is for ₹2,000 and the deductible is ₹3,000, the insurer will not pay anything. Given these calculations, choose your deductible carefully, keeping your finances in view. 

  • Location

Your geographical location affects the possibility of damage to your car, which affects the insurer’s liability, thereby influencing the premium you will pay. If you live or park in an area that is prone to accidents, natural calamities, vandalism, or theft, the premium will be higher. 

  • Anti-Theft Devices

If you have installed an Automotive Research Association of India (ARAI) authorised anti-theft device, the premium may be lower. With these devices, the possibility of theft decreases, which lowers the insurer’s liability. 

  • Modifications

Some modifications to your car affect its risk profile and, therefore, can affect the premium you will have to pay. If you do not inform the insurer about these modifications, it can lead to issues at the time of making a claim. In some cases, your policy may also become void. 

 

A few crucial modifications that you should disclose to your insurer are to do with suspension, engine, wheel, safety, body, and light. While disclosing these changes can increase your premium now, it can help you save more in the long run by ensuring continued coverage.

Read More

How to Calculate New Car Insurance Prices Online

IRDAI decides the price of car insurance in case of third-party coverage. For other covers, like the standalone own damage, you can calculate the price in the following ways: 

  • Using an Online Premium Calculator

Most insurers provide a digital calculator that gives you an estimate of your premium. This amount depends on basic details like the make and model of your car and the ex-showroom price. 

 

Once you enter this information, the calculator will instantly provide the forecasted premium. Using it, you can compare the car insurance quotes from different insurers and choose the most cost-effective one.

  • Using the Formula

To manually calculate the price of insurance for standalone own damage cover, you can use the following formula: 

 

Premium = IDV*Premium rate + Add-ons – Discounts and benefits

 

Here, the premium rate will be decided by the insurer. In discounts and benefits, you can consider the monetary value of NCB, anti-theft devices, and more. 

 

To calculate the IDV, you can use the following formula:

 

IDV = (Current market value of the car – Depreciation value) + (Cost of vehicle accessories – Depreciation value of these parts)


Manual calculations can be time-consuming and are even prone to errors. A safe and smarter alternative is to use online calculators. They help you calculate your car insurance premium easily, so you can compare them and choose the most affordable option.

Benefits of Renewing Car Insurance Online

Here are some reasons to opt for the online mode for car insurance renewal:

  • Easy to Compare 

When you choose the online option, you can easily access the details of various insurance policies from different issuers. Comparing features is also more convenient, so you can pick one that is within your budget and offers adequate protection.  

  • Quicker Process

Depending on the insurer and platform you choose, you can complete the car insurance renewal process in a matter of minutes. Most insurers require you to share basic details like policy number and birthdate. Once you enter this information, you can renew the policy in just a few clicks.

  • Safe and Secure

The online process is fairly easy as well as safe. The payment you will make is processed through secure payment gateways. The majority of the insurers allow you to pay using your debit or credit card, UPI, or internet banking. As such, you can make secure payments stress-free.

  • Swift Switching

Along with easy comparison, switching your insurer during car insurance renewal is just as easy. All you have to do is choose your new policy and follow the process to port it online. 

Why Should You Renew an Expired Car Insurance Policy Now?

Having a valid, i.e., active car insurance policy is important for various reasons, including:

  • Avoiding Legal Consequences

As mentioned, having at least third-party car insurance is a legal obligation. If you fail to comply with this regulation, the fine can go up to ₹4,000. The imprisonment period can be up to 3 months. To avoid this, renew your car insurance at the earliest.

  • Loss of Benefits and Coverage

Insurers offer several benefits like the No Claim Bonus when you renew your policy. However, if you do not renew, you will lose out on these benefits, leading to loss. Additionally, the cover offered by the insurer is only valid till the policy period and the grace period. 

 

Not renewing the policy before this period ends will result in the discontinuation of the cover. So, if your car is in an accident or damaged in any other way, the insurer will not be liable to pay for the cost of repair. 

 

Given this, renew your car insurance before it expires. In case you miss the due date, you can still renew it within the grace period. Most insurers offer this period and if you renew it within this time, your policy will not lapse.

 

If you are unhappy with your current insurer, you can transfer your policy to another one. Ensure that you do this before the policy expires. 

 

Changing the insurer does not mean that you will lose your current benefits. Benefits like NCB will also be transferred provided you switch the insurer at the right time.

How to File a Car Insurance Claim

While the process to claim car insurance can differ based on the provider, here are some general steps to follow:

  1. Visit the insurer’s website or log on to the mobile app

  2. Register your claim

  3. Note the claim intimation number

  4. Take the car to a network garage for a cashless claim or any other garage for a reimbursement claim

  5. Wait for inspection from the surveyor

  6. Submit all the required documents

 

Once the insurer processes your request, they will either accept or reject it. If accepted, they will settle the claim once the car is repaired. You can also call their customer support team to file your claim.

Documents Required for Filing a Car Insurance Claim

The insurer will require you to submit a few documents to support your claim. While these can also vary, some commonly requested documents are:

  • Copy of the Registration Certificate (RC)

  • Copy of the driving license of the policyholder

  • Verified copy of the FIR (First Information Report filed with the police)

  • Copy of policy documents

  • Keys to the car

  • Duly filed and signed claim form

  • RTO transfer papers

  • No Objection Certificate and Form 35 in case of active loan

  • No Trace Report in case of theft

 

You can contact the car insurance provider’s customer support team to know the exact documents required. You can also check the requirements on the official website or app. Alternatively, you can confirm it at the time of filing the claim.

Tips to Avoid Car Insurance Claim Rejections

When you file a car insurance claim, the insurer has the right to either accept or reject it. In case of rejection, you will have to pay for damage or loss, which can cause financial strain. Here are some tips you can rely on to lower the chances of rejection:

  • Keep All Documents Ready

Insurers will ask you to submit several documents to support your claim. This can include the FIR, policy documents, proof of damage, and more. 

 

If you delay or fail to submit any of these documents, the insurer can reject your claim. Ensure you keep all the paperwork on hand for the best chance of approval. 

  • Renew Your Policy on Time

If you do not complete the car insurance renewal process, your policy will lapse. When this happens, the insurer will no longer be liable to cover any costs. 

 

As such, it is important to renew your policy on time. You can opt for reminders or set one yourself to ensure you do not miss the date. 

  • Go Through the Policy Terms

Your policy document will clearly state the inclusions and exclusions, which will determine whether your claim will be accepted or rejected. Read through it carefully before filing a claim. 

 

If you feel that your policy coverage is inadequate, compare your options. Switch the insurer at the time of renewal or even during the policy period.

  • Have a Valid Driving License

Holding a valid (unexpired) driving license is a crucial requirement of insurers. If you do not have a license and drive the vehicle, you are breaking the law. As such, the insurer is not liable to cover any costs related to damage or loss. So, do not drive without a valid license.

  • Declare Information Accurately

Disclosing all the relevant details is crucial. This includes informing the insurer about any modifications, mentioning the right NCB, and other details. 

 

If there is any discrepancy, the insurer has the right to reject your claim. In some cases, failure to disclose information can void your policy.

  • Ensure You Do Not Violate Any Laws

In case you were not driving as per Indian traffic rules and regulations when the damage occurred, the insurer can reject your claim request. Ensure that you do not drive without the right paperwork, drive under the influence, enable underage driving, and more.

  • Follow the Claim Procedure

Every car insurance provider has a different process to file claims. If you do not follow it, the chances of facing rejection increase. 

 

You must also ensure that you file the claim within the stipulated period. You can find these details in your policy document, on the insurer’s website or app, and by talking to the customer support team.

  • File an FIR Immediately

A police complaint is mandatory when you file a claim against your car insurance policy, especially in case of an accident or theft. If you do not file an FIR or submit a copy of it, the insurer can reject your claim.

Read More

Car Insurance Terminologies You Need to Know

To ensure you understand your policy and make the right decisions during comparison, here are some terms that you must know:

  • Deductible

This refers to the portion of the claim amount that you need to pay. As such, it results in a lower claim amount. It can be either compulsory or voluntary, depending on the policy and the insurer. 

  • Cashless

This is when you do not have to pay anything to get your car fixed as per the policy terms and sum insured. The insurer will directly settle the bill with the garage. However, to use this facility, you must choose a network garage only. 

  • IDV

This refers to the market value of your car. It influences the coverage and the premium you will pay for your car insurance plan. 

  • No Claim Bonus

This is a benefit that the insurer will offer if you do not file any claim during the policy period. It is reflected by a discount on the premium amount.

  • OD Cover

Own Damage (OD) cover extends the policy’s coverage to the injuries and damages sustained by your car. It will not cover any third-party damages.

  • Premium

This is the amount that you will pay once a year for car insurance. It depends on the type of car, coverage, location, modifications, and other such factors.

  • Policy Period

This refers to the time during which your car insurance policy will be valid. It depends on the term you choose. If you choose one year, the period will be of one year, and so on.

  • Policyholder

This refers to the person whose name appears on the policy. If it is in your name, you will be policyholder but if it is in the name of another family member, they will be policyholder.

  • Add-on Covers

They help broaden the coverage of your car insurance policy. Insurers offer a variety of add-on covers. With them, your cover will expand as per the terms, and the premium will also increase.

  • Endorsement

This is a process through which you can make changes to your car insurance policy document. You can make changes to your name or disclose any modifications you made to the car during the policy period.

Inclusions and Exclusions of a Car Insurance Policy

Every car insurance provider has a certain terms, which determine whether you can file a claim or not. While this varies across insurers and policies, here are some common ones you should know:

Inclusions

Exclusions

Loss or damage incurred due to natural calamities

Regular wear and tear of your car 

Loss resulting from man-made disasters such as fire or explosion

Mechanical or electrical breakdown

Third-party liability coverage

Damage caused to your car while driving under the influence of alcohol or other intoxicants

Personal accident cover

Loss or damage incurred while driving without a valid driver's licence

Damages incurred due to accidents

Damage caused when the policy is inactive

Theft of four-wheeler

Damage or loss incurred during war-like situations and malicious activities

Spending a little time doing research can help you choose the right policy for your car and save more in the process. On Bajaj Markets, you can compare offerings of reputed insurers and get a policy with ease online. 

FAQs and Support

Can car insurance be purchased or renewed online?

Yes, you can easily get/renew a policy of your choice online. To do that, you can choose a marketplace like Bajaj Markets or visit the insurer’s website. You can enter your car details and other information to get car insurance quotes and choose accordingly.

Can car insurance be transferred to the new vehicle owner?

Yes. You can and should transfer the current four-wheeler insurance to the new vehicle owner. In fact, you should complete the transfer within 14 days from the day of sale. You can check with your insurer to know the process of transferring your policy.

How many car insurance claims can be made in a year?

There is no limit on the number of claims you can make in a year against your four-wheeler insurance. However, there is a limit in terms of the amount. You can file claims only until the policy value. For instance, if your policy is for ₹15 Lakhs, you can claim only up to ₹15 Lakhs and no more.

Can I transfer my NCB while renewing my car insurance?

Yes, the No Claim Bonus offered by a majority of the insurance providers is transferable easily. Most issuers automatically transfer the bonus as you renew the policy with them. However, this can vary depending on the insurer and the policy you choose.

What is premium loading in a car insurance policy?

Some insurance providers may charge an additional fee or charge on the premium if you are a high-risk policyholder. This is known as premium loading and is a standard practice for certain policies.

What is an endorsement in car insurance?

Your car insurance policy document contains a host of information, both personal and relating to your vehicle. If you request a change in these details and the insurer makes the change, it is known as an endorsement.

Can I switch to a different insurer to renew my car insurance policy?

Yes. You can switch your car insurance provider at any point. Doing it at the renewal can be more beneficial as you can get more benefits more affordably. However, ensure that you can compare policies before switching to ensure it is the right move.

What is the grace period for renewing car insurance?

The grace period refers to the short duration within which you can renew your policy even if it has expired. Generally, it can go up to 90 days from the day your policy expires. You can confirm this at the time of purchase or renewal.

 

If you complete the car insurance renewal process within this period, you can enjoy continued benefits. If you don’t, your policy will lapse, and you will lose out on benefits like the No Claim Bonus.

What should I do if I lose my online policy?

In case you lose the soft copy of your car insurance policy, you can visit the insurer’s website or app to download it again. Most insurers allow you to do this without any additional costs. All you have to do is provide your policy number and other basic details to get the document. 

How to download a car insurance policy?

Insurance providers allow you to download the policy document through their app or website. Once you open either of these, you can log into your account and navigate to the policy details. 

 

You will find the option to download the policy on the dashboard. Click on it and provide the relevant details (policy number, birth date, etc.). Once you submit the required information, your policy will either be downloaded automatically or sent to your email.

Can I purchase a car insurance plan for less than a year?

No. Insurance providers offer these policies for one year or more. Generally, when you get the policy for two years or more, the insurer may give you a discount on the premium. However, this varies across insurance providers and comes with certain terms and conditions. Be sure you read everything carefully before paying.

Which is the best car insurance in India?

The best policy and insurer depends on your needs and the type of car insurance you are looking for. In terms of flexible coverage, Bajaj Allianz is known to be one of the best. In terms of comprehensive coverage, HDFC Ergo is a top choice. 

How much does car insurance cost?

The premiums for third-party insurance are fixed by the Insurance Regulatory and Development Authority of India. They vary between ₹2094 and ₹7897 based on the engine capacity. 

Home
active_tab
Loan Offer
active_tab
Download App
active_tab
Credit Score
active_tab