Toyota Car Insurance

Toyota Motor Corporation is a leading car manufacturing company, founded on August 28, 1937, in Toyota city, Aichi, Japan. The most feasible Toyota car is priced at ₹8.44 lakh and the most expensive one at ₹1.03 crore. Most Toyota cars are conferred with 5-star ratings, reflecting the build quality of their four-wheelers. It is known to design and manufacture C-segment, M-Multipurpose cars (MPVs), and Large MPVs. Since every Toyota car offers high-end driving experience, it is essential that you buy a Toyota car insurance policy. Let’s explore top Toyota car prices, models, types of car insurance plans, and add-on covers.

Popular Toyota Car Models

*The ex-showroom prices are for Delhi and are subject to change based on the city.

~Third-party premium rates are indicative. The actual premium that you may have to pay may change depending on various factors. Please check the prevailing premium rates before purchasing your car insurance policy.

How to Buy Toyota Car Insurance in Just 5 Steps

Buy your Toyota Car Insurance online:

Step 1: Go to the ‘Car Insurance premium calculator’ page on our website.

Step 2: Select the type of coverage you want for your car.

Step 3: Fill the online form and submit your car’s details.

Step 4: Get your car details assessed by our insurance executive.

Step 5: Complete the payment of your Car Insurance.

Renew Toyota Car Insurance in Just 5 Steps

Renew your Toyota insurance plan in 6-easy steps:

Step 1: Visit the car insurance renewal page of your preferred insurer’s website.

Step 2: Enter your registration number and contact details.

Step 3: Check your Toyota renewal quote.

Step 4: Make the payment online.

Step 5: Download the policy copy.

Read More: Car Insurance Renewal

Why is it Important to Insure Your Toyota Car?

A high-end Toyota car should be protected with an all-around car insurance policy. It will cover sudden expenses arising from unforeseen events such as theft, accidents, and damages due to natural or man-made disasters. For example, if you want to replace multiple parts of your car, it might end up costing a fortune. A fuel filter itself costs ₹4,000, which means that a complete damage repair could dig a hole into your pocket. So, to enjoy joyous and carefree long drives in your Toyota car, it’s essential to get an appropriate Toyota insurance policy for it.

Why Should You Opt for Comprehensive or Third-Party Car Insurance?

Third Party Car Insurance

Third-party car insurance is mandatory by law under the Motor Vehicles Act, 1988. The policy is known to cover third-party liabilities only. Hence, the premium charges are cheap on the pocket. The coverage protection is not extended to you or your Toyota car in any unfortunate event.

Comprehensive Car Insurance

A comprehensive car insurance plan for Toyota cars will cover third-party liabilities as well as damage to one's own vehicle. The plan has a relatively higher premium as compared to third-party car insurance. Moreover, you can extend the scope of your comprehensive car insurance policy with add-on benefits. Having comprehensive Toyota insurance ensures that your vehicle is protected against unfortunate events at all times.

Here’s What is Covered Under Toyota Car Insurance

Inclusions of a comprehensive Toyota car insurance plan includes third-party expenses and liabilities as well as losses caused to your own vehicle due to riots, strike, flood, storms, theft, accidents, etc. However, if you opt for a third-party insurance policy, you will only be covered against third-party damages and liability.

Here’s What isn’t Covered Under Toyota Car Insurance

Again, if you opt for comprehensive car insurance, your car won't be protected in case of damages caused due to drunk driving, general wear and tear, driving with expired insurance policy, etc.

Add-On Covers for Your Toyota Car

When buying comprehensive car insurance for your Toyota car, you can purchase additional covers that provide extensive protection to your vehicle. These add-ons are optional, and you can choose the ones that are most needed. However, note that add-on covers can change your Toyota insurance price.

Let us take a look at different add-on covers available under comprehensive Toyota car insurance:

• Zero Depreciation

With a zero depreciation car insurance add-on cover, depreciation is not factored in during claim settlement. However, without this cover, the compensation paid is as per the current market value of the car. Zero depreciation cover allows you to receive the full amount in compensation.

• Return to Invoice

Return to Invoice will ensure that you receive the invoice value of your car in case it is lost/stolen. The invoice value is nothing but the amount you paid at the time of purchasing the car. The insurer will compensate you for the actual value of the vehicle along with the registration charges and road tax.

• Engine and Tyre Secure

With this cover, you are adding safety to your engine and tyres. So, in case of replacement/repair, the insurer will compensate you for the expenses incurred. Also, any damage to the internal parts, such as the engine, gearbox, and transmission, is covered.

• Roadside Assistance

This offers coverage against assistance services required during an unforeseen breakdown of the insured vehicle. It includes services like towing to the nearest garage, on-site repair services, assistance in case of loss of keys, fuel delivery, etc.

• Key Loss Add-On Cover

Here, the insurance company offers coverage against situations where the policyholder loses the car keys.

Read more about: Add-on covers in Car Insurance

Toyota Car Insurance Claim Process

Toyota car insurance ensures all-around protection in case of unfortunate events. Now that you have an understanding of what all it offers, it’s also crucial to understand how claims are registered.

Here are the important documents that you will need to claim your Toyota insurance:

• Toyota car insurance policy document

• Toyota car details

• Insurer details

• Details of the Incident

• FIR copy in case of theft

• Original bills and receipts of the vehicle repair

Typically, we’ve two types of Toyota car insurance claims:

• Claim Cashless Car Insurance for Toyota Cars

With cashless claims, you can get your Toyota car with accidental damages repaired at the nearest network garage. The insurer will directly pay the garage for incurred expenses.

• Claim Reimbursement for Toyota Cars

Here, you can get your car fixed at your preferred garage, pay the expenses, and raise a reimbursement claim against your policy. Upon claim approval, the settlement amount is transferred to your bank amount (minus the deductible, if applicable).

Read more: Car Insurance Claim Process

Tips to Reduce Toyota Car Insurance Premium

Here are a few ways to reduce your Toyota car insurance premium rate:

• Go for the No Claim Bonus

The No-Claim Bonus for Car Insurance add-on cover offers a reward for making zero claims during the year, and ensures that you can avail the car insurance at a more feasible rate.

• Install Anti-Theft Devices

Installing additional safety devices protects your vehicle against the risk of theft, thereby decreasing the possibilities of raising an insurance claim. Thus, insurance companies often reward such safety measures by reducing the insurance premium rate.

• Maintain Your Vehicle

Ensure that your car is in the best shape to avail insurance at a cheaper rate. The premium amount for old and worn out cars is relatively higher.

• Avoid Unnecessary Car Modifications

More the features, the higher the car insurance premium! Hence, avoid making unnecessary modifications to your car.

• Effective Driving

Insurance premiums are often higher for car owners below the age of 25. This is because young adults are not considered to be responsible drivers. Hence, irrespective of your age, you must drive efficiently. It will also ensure that you make lesser claims, meaning a higher possibility of availing the no-claim bonus cover.

Conclusion

Buying Toyota insurance online will save a fortune on multiple overhead expenses. Insurance companies use these savings to provide you with car insurance plans at reduced rates. It also enables you to get rid of the middleman and buy directly from the company. Additionally, it doesn’t compel you to make multiple visits to the branch office. You can choose to buy Toyota insurance in the comfort of your home, any time you please. And, the online process at Bajaj MARKETS demands zero paperwork. So, head over to the ‘Car Insurance’ page at Bajaj MARKETS and enjoy unending benefits like maximum coverage, quick settlement, and seamless buying/renewal process.

Check Out Car Insurance Plans Available at Finserv MARKETS