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Compare Car Insurance & Buy the Policy Online

A good insurance plan can serve as a financial lifeline in turbulent times. Since lots of companies now offer car insurance schemes, it is best and easy to compare car insurance and buy the policy online. You should opt for the insurance policy that would best serve your interests. The key features that you should look for include the network of garages offered by the company, incurred claim ratio and add-on covers. There are also three major categories of car insurance plans: the Third Party, the Comprehensive, and Standalone Own Damage. By comparing car insurance and buying the policy online, you will save cost and may also get discounts.

Compare Car Insurance Online | Bajaj Markets

Compare Car Insurance Policies Online

✓Save 80% on Premium ✓Zero Depreciation & Accessories Cover ✓Lock & Key Replacement Cover| Buy a Car Insurance Now!

29 Sept 2021
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Compare Car Insurance Online 

There was a time when people mostly relied on the offline mode of car insurance purchase and renewal. However, in modern times, most insurance companies have started offering their products online through their official websites and through aggregator sites. This allows potential insurance buyers to quickly check out different policies offered by various companies and compare their features to understand which plan best suits their needs. In this article, we’ll look at how to compare car insurance online and which factors to consider while selecting the best policy.

Reasons to Compare Car Insurance Policies 

Here are the main reasons why you should compare car insurance policies online before buying them: 

 

  • Finding the Best Price 

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. 

 

  • Wide Range of Options 

As most insurance companies offer their plans online, you have the 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. 

 

  • Analysis of Features and Benefits 

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.

Factors to Check While Comparing Car Insurance Policies 

Here are a few important factors that you need to keep in mind when looking at different car insurance plans online: 

 

  • Compare Car Insurance Quotes From Various Online Aggregators

Cost is one of the most important things you will need to consider when buying an insurance plan. While doing a car insurance quote comparison, you will see that not all websites feature the same depth and variety and quotes are not always the same. So, while you compare car insurance online, ensure that you are visiting an IRDAI (Insurance Regulatory and Development Authority) licensed insurance web aggregator. 

 

  • Declare the Right IDV

The Insured Declared Value (IDV) quoted by the insurer is the current market value of your car. This value plays a vital role in deciding the car insurance premium as it is directly proportional to the car’s IDV. However, declaring a low IDV to bring down the insurance premium or a higher IDV for an increased claim amount is not a good idea. The IDV in car insurance also becomes important in case of car theft as you shall be paid the Insured Declared Value as per your plan. In the event of an accident, if more than 75% of the car is damaged, the claim settlement amount may also be equal to the IDV of the car. 

 

  • Check the List of Network Garages

Getting your car serviced at a network garage allows you to enjoy a cashless facility and doesn’t require you to pay for it. In case you go with an insurer that doesn’t offer a wide range of garages, you might end up settling with a nearby garage and choose the reimbursement claim option. Thus, while comparing online car insurance quotes, opt for a car insurance company with a wide chain of cashless garages. This will ensure that you don’t have to travel a long distance or have to pay upfront at an out-of-network garage in case of car damage.

 

  • Opt for Necessary Add-On Covers

In today’s unpredictable day and age, just a basic comprehensive car insurance plan may not be enough. To maximise your coverage, you should also consider combining your insurance policy with add-on covers. With a few add-ons that suit your insurance needs, you can safeguard your vehicle against a wide range of unexpected damages and expenses. For example, by getting the zero depreciation add-on, your insurer will not account for your car’s depreciation rate during claim settlement so your insurance payout will be higher. 

 

  • Don’t Consider Just the Cost

Once you are sure which type of insurance you need, you can compare the costs for these insurance plans and choose a policy that fits your budget. However, as mentioned above, you must know that third-party car insurance doesn’t cover the damages incurred by your own car in case of accidents. Hence, it is essential to first compare car insurance policies based on the features, the scope of coverage, and other such factors without letting the cost deter you.

How Should you Compare Car Insurance Policies

You can choose to compare your insurance plans online or through offline means: 

How to Compare Car Insurance Online

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.

How to Compare Car Insurance Offline

 

Follow the given steps in order to compare car insurance plans offline: 

 

Step 1: Visit the office of individual insurance companies and consult the company representatives to find out information about available car plans. However, you will have to go and visit each insurance company's office separately, which is a time-consuming process. 

 

Step 2: Alternatively, you can also visit the insurance agents that are affiliated with various insurance companies and get information about the car plans from them. 

 

Step 3: Once you have compared the available insurance plans for their features and benefits, select the policy that is right for you. 

 

Step 4: Buy your chosen plan by providing the right documents and paying the insurance premiums. 

Compare Different Types of Car Insurance Online

Let’s compare and understand the differences between third-party and comprehensive car insurance plans:

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. 

Car Insurance Plans Available at Bajaj Markets 

Here are some great car insurance plans 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 

Conclusion  

Comparing car insurance online is a very transparent and convenient process now. Online car insurance comparison also gives you access to the reviews of different car insurance policies, which can help you find the best car insurance companies. Hence, if you are buying a car insurance policy for the first time or looking for a car insurance renewal, it is best to compare various plans before buying one. If you are looking to buy a new car policy, you can browse through the car insurance plans available on Bajaj Markets to enjoy hassle-free claims and maximum coverage for your four-wheeler.

Check Out Car Insurance Plans Available at Bajaj MARKETS

 

FAQs on Car Insurance Comparison

  • ✔️How can I compare various car insurance plans online?

    You can compare different car insurance plans on Bajaj Markets by going to the 'Car Insurance Premium Calculator' page and entering your details.

  • ✔️What are the various aspects that determine the car insurance premium quote?

    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

  • ✔️How can I have concessions on my car insurance premium amount?

    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.

  • ✔️What factors should I keep in mind while comparing vehicle insurance?

    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.

     

  • ✔️Can I buy a third-party and comprehensive car insurance plan on Bajaj Markets?

    Yes. You can quickly head over to our platform to purchase insurance coverage that secures your vehicle.