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A reliable car insurance plan acts as a financial safeguard during accidents or unforeseen events. With most insurers now offering policies online, comparing auto insurance policy options across providers and making an informed decision is easier.
Online platforms allow you to review multiple plans, assess coverage, and select one that fits your budget and vehicle usage. By comparing policies before you buy, you can also access exclusive online discounts and better value.
Here are some car insurance policies available at Bajaj Markets that you can choose from, depending on your needs:
Key Features |
Bajaj Allianz Car Insurance |
ACKO Car Insurance |
HDFC Ergo Car Insurance |
Starting Rate of Premiums |
Starting at ₹2,094 (- + GST, effective 1st June 2022) |
Starting at ₹2,094 (- + GST, effective 1st June 2022) |
Starting at ₹2,094 (- + GST, effective 1st June 2022) |
Cashless Claims |
✓ |
✓ |
✓ |
Add-on Covers |
✓ |
✓ |
✓ |
Number of Cashless Garages |
4,000+ |
100% cashless garages |
7,600+ |
Types of Plans Available |
Third-party/ Comprehensive |
Third-party/ Comprehensive |
Third-party/ Comprehensive |
Here are the main reasons why you should compare car insurance policies quotes online before buying them:
By comparing car insurance plans online, you have the option to check out the prices for each of the plans available. Doing this can help you find the right policy which provides the best value for money compared to the features offered. You can also look for the plan which costs the least if you are on a tight budget.
As most insurance companies offer their plans online, you have a choice to review and analyse a wide number of plans. Different insurance plans have different features and coverage options which are built keeping in mind the needs of different customers.
Checking out different plans online will allow you to analyse and compare the features and benefits offered under each plan. Depending on your specific needs, you can then select a car insurance policy that offers the right features to fit your requirements.
Before you start an automobile insurance comparison, it's important to understand the key types of car insurance plans available in India. Each category offers a different level of coverage based on your specific needs.
This plan offers extensive protection. It covers damages to your own vehicle as well as third-party liabilities. It also includes personal accident cover for the owner-driver. You can enhance the coverage with optional add-ons like zero depreciation, engine protection, or roadside assistance.
A third-party insurance policy covers damage or injury caused to another person, vehicle, or property by your car. It is the minimum legal requirement for all vehicle owners under the Motor Vehicles Act, 2019. However, this plan does not cover your own car’s damage. Add-on covers are not available with third-party policies.
If you already have a third-party policy, you can buy this plan separately to cover damage to your own car. It includes losses due to accidents, fire, theft, and natural disasters. It’s ideal for drivers who want to customise coverage while remaining legally compliant.
Here's a quick comparison between third-party and comprehensive car insurance to help you choose the best car insurance policy based on your coverage needs and budget:
Features |
Third-party Car Insurance |
Comprehensive Car Insurance |
|---|---|---|
Coverage |
A third-party plan will cover the loss or injuries to people, their vehicle, or property caused due to your insured car. You will not have to pay for the damages or losses incurred out of your pocket. |
A comprehensive plan will cover the damages incurred by your own car as well as third-party liabilities. |
Pricing |
A third-party cover is relatively cheaper when compared to comprehensive car plans. |
Comprehensive plans have higher premiums as compared to third-party and standalone own damage plans. |
Add-on Covers |
Add-on covers are not available with third-party plans. |
Add-on covers can be purchased with comprehensive car insurance plans. |
Legal Requirement |
All vehicle owners need to mandatorily have a third-party plan, as per the New Motor Vehicles Act, 2019. |
It’s not legally necessary to purchase a comprehensive insurance plan. |
Before selecting a plan, consider the following key aspects to make an informed choice when you compare motor insurance online:
Premium cost is a major deciding factor. During your automobile insurance comparison, remember that different platforms may show varied quotes and features. Always use an IRDAI-licensed aggregator to ensure you’re comparing accurate and approved plans.
The Insured Declared Value (IDV) represents your car’s current market value and directly affects your premium. Avoid manipulating the IDV to alter the premium, understating it reduces claim value, while overstating it may raise the premium unnecessarily. In total loss or theft, the IDV determines your compensation.
A broad network of cashless garages ensures hassle-free repairs without upfront payment. When you compare car insurance policy options, prioritise insurers with garages near your location to avoid the inconvenience of reimbursement claims.
A basic plan might not offer enough protection. Add-ons like zero depreciation, engine protection, and roadside assistance can significantly boost your coverage. Select only the add-ons that match your driving habits and vehicle usage.
While it’s important to find a plan within budget, don’t base your decision on premium alone. Third-party policies are cheaper but don’t cover your own vehicle’s damage. It’s better to compare car insurance policy features, like coverage, claims process, and add-ons, before picking the most cost-effective and protective option.
Here are the exact steps you can follow to compare car insurance plans online at Bajaj Markets:
Step 1: Visit the ‘Car Insurance Premium Calculator’ on Bajaj Markets.
Step 2: Enter your mobile number and car’s registration number along with other additional information required.
Step 3: Browse through the various insurance plans available for your car. Compare the various features offered by these plans.
Step 4: Pick a four-wheeler insurance policy that suits your needs and pay the insurance premium online.
Choosing the right insurance plan impacts not just your finances but your driving peace of mind. Keep these practical tips in mind when you do a car insurance compare online:
Before buying a policy, assess how frequently you use your car, where you drive, and what risks you want covered. Avoid over-insuring or under-insuring. Stick to your budget while ensuring adequate protection.
While add-ons can strengthen your policy, not all are essential. Choose only those that match your driving needs. Skip features you’re unlikely to use, this keeps your premium affordable.
Opting for a higher deductible can lower your premium, but you’ll pay more out-of-pocket during claims. If you drive less frequently or are confident in avoiding accidents, this trade-off may work in your favour.
Certified security devices reduce the risk of theft and can earn you a premium discount. Look for models approved by Automotive Research Association of India (ARAI) to qualify for these benefits.
Before finalising any plan, understand terms like IDV (Insured Declared Value), NCB (No Claim Bonus), and ICR (Incurred Claim Ratio). If something is unclear, ask the insurer to explain it in simple terms.
You can compare different car insurance plans on Bajaj Markets by going to the 'Car Insurance Premium Calculator' page and entering your details.
Comparing various car insurance policies is essential to pick the best one for your car. The online platform lets you easily compare plans and their features and benefits.
The following advantages can be enjoyed if you compare the car insurance plans online:
Check the price of various car insurance plans
Get an insight into the various features offered by car insurance plans
Pick the most suitable plan for your vehicle
The following factors affect your car insurance premium rate:
Make, model, and variant of the vehicle
Type of coverage
Registration location
Years of driving experience
Voluntary deductible
Add-on covers
To get a lower car insurance premium price, you can choose to install anti-theft devices approved by the ARAI and opt for online car insurance.
Comparing available plans online gives you a clear insight into the features, benefits, and premium of different plans. This way, you can pick a plan with the most affordable premium.
It is crucial to read the fine print and understand the terms and conditions while buying car insurance online. This will help you purchase a policy that suits your insurance requirements and get extensive protection for your car.
Yes. You can quickly head over to our platform to purchase insurance coverage that secures your vehicle.
Comparing car insurance rates is a personal choice and not a mandatory step. You may choose to skip it. However, if you do so, you may not be able to get the most ideal and affordable plan for your vehicle.
No. Add-on covers are not available for liability-only car insurance plans.
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