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Car Insurance in Mohali

A bustling town in Punjab, Mohali is located near Chandigarh. It is popularly known as the commercial hub of the state and has scores of the best IT outsourcing companies. Mohali is also famous for the Punjab Cricket Association’s (PCAs) Mohali cricket stadium, which has hosted many international-level cricket matches. A large section of the population in this city prefer commuting by private vehicles, thus underlining the importance of having a car insurance policy in Mohali. If you are a resident of Mohali who uses a car for daily commuting, you must protect your vehicle with a good car insurance policy. Not only does a comprehensive car insurance in Mohali provide coverage for any damages to your car because of an accident, but it also protects you from third party claims. Let’s take a look at the options for car insurance in Mohali and the main benefits of buying car insurance.

Benefits of Car Insurance in Mohali

There are a wide variety of benefits for securing your vehicle with a good comprehensive car insurance plan and the most prominent of those have been listed below:

  • Keeps Your Vehicle Financially Covered

Comprehensive car insurance in Mohali will provide financial cover for repair expenses of your precious car in the event of damages due to accidents. If your car gets heavily damaged, the repair expenses can go up to several lakhs. Save on these costs by getting the right comprehensive insurance plan.

  • Personal Hospital Cover

Third-party insurance will not provide any medical coverage to you if you get into an accident. However, a comprehensive insurance plan does provide financial cover for medical expenses if you get injured in an accident. With the current state of expensive private healthcare in the country, paying out of pocket for medical bills can deplete your savings quickly. Comprehensive car insurance in Mohali can help you avoid these heavy expenses.

  • Obligation to the Law

Driving without insurance can lead to hefty fines and even imprisonment if you are caught by the authorities. By getting comprehensive insurance in Mohali, your legal obligations as per the New Motor Vehicles Act, 2019 will be fulfilled and you won’t have to worry about getting fined or being jailed.

  • Add-On Covers

If you plan on buying comprehensive insurance in Mohali, you should know that you will also get the added benefit of buying optional add-on covers. Add-on covers such as zero depreciation cover or consumables cover are special plans that can be bought on top of your insurance to help you and your car get enhanced protection for any situation.

  • Third-Party Cover

Generally, the third-party cover is automatically included as part of the comprehensive insurance policy by most insurers. Thus, by getting comprehensive car insurance in Mohali, you will also get coverage for the cost of medical expenses/damages to the third-party vehicle involved in an accident.

  • No Claim Bonus

If you have been using your car insurance in Mohali for a full policy term and have not made any insurance claims, use the ‘No Claim Bonus’ (NCB) to get a discount on your premiums while renewing. If you want to change your insurance provider, the NCB can also be transferred over.

Best Car Insurance Plans

In case you are looking to buy vehicle insurance in Mohali, you can check out the car insurance plans at Bajaj MARKETS in the table below, along with their important features:

 

Bajaj Allianz General Insurance Co

Acko General Insurance Ltd

HDFC Ergo General Ltd

Third-party cover

Comprehensive Car Insurance

Premium Amount

Starting at ₹2,072 (- + GST, effective 1st April 2022)

Starting at ₹2,072 (- + GST, effective 1st April 2022)

Starting at ₹2,072 (- + GST, effective 1st April 2022)

No of Network Garages

4,000+

100% cashless garages

7,600+

Claim Settlement Ratio

98%

98%

-

Additional Covers

 

Network Garages in Mohali

When you buy a comprehensive insurance plan in Mohali, you will also get the added benefit of network garages. Network garages are offered by insurers to help policyholders get their vehicle repaired without paying any of the repair bills. The network garage directly settles the repair expenses with your insurer. It should be noted, however, that if your repair bills exceed the total coverage offered by your insurer, you will have to pay the balance of those bills out of pocket.

To Conclude

Whether you plan to buy a new car or purchase a second-hand car, it is vitally important to keep it secure with the right car insurance in Mohali. Car accidents can be devastating and may cause a great deal of anguish and financial losses, not to mention the risk of sustaining serious injuries. It is better to be prepared with comprehensive car insurance that can cover all your repair/medical expenses. If you are confused about the car insurance price in Mohali, use the car insurance premium calculator to get an estimate.

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FAQs on car insurance in Mohali

✔️My car was damaged due to a natural calamity. Will the car insurance policy on Finserv MARKETS provide for the damages?

Yes, if you get a car insurance policy in Mohali through Finserv MARKETS, you get coverage against all natural calamities, like fire, earthquake etc.

✔️My car was stolen. Will the car insurance policy on Finserv MARKETS provide coverage?

Yes, if you get a car insurance policy in Mohali through Finserv MARKETS, you get coverage against theft and burglary.

✔️What is NCB? How can I avail it in Mohali?

It means No Claims Bonus. In case you have not made any claims during the previous policy term, you can avail discount at the time of annual renewal through the provision of NCB.

✔️Can I drive my car without four wheeler insurance in Mohali?

No, driving any type of vehicle without vehicle insurance in Mohali is illegal as per the New Motor Vehicles Act, 2019. 

✔️Can I buy car insurance online?

Yes, you can buy car insurance online from reputed insurance companies/aggregators.