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

A comprehensive insurance policy is a type of extensive motor insurance coverage. Comprehensive insurance plans provide coverage for third-party damages as well as own car damages during uncertain events like accidents, floods, fires, etc. Such plans are not mandatory; however, it is advisable to secure your vehicle with comprehensive insurance that will protect you and your vehicle during unfortunate events

How Does Comprehensive Car Insurance Work?

Much like third-party car insurance, comprehensive car insurance covers third-party liabilities. That means the car insurance policy will cover any damage caused by your vehicle to a third party or their own property. In addition to this, the policy extends coverage to your own vehicle as well. That way, any damages incurred by the vehicle in an unfortunate event will be taken care of by the insurer.

 

Comprehensive car insurance coverage also allows policyholders to enhance the scope of the plan with add-on benefits. These benefits are available at a nominal price over and above your existing premium amount. You can use the car insurance calculator to determine the cost of the chosen coverage along with the add-on benefits.

 

We have discussed comprehensive car insurance add-on covers in detail further. But before that, let us understand the need for comprehensive insurance.

Why Do You Need Comprehensive Car Insurance?

While it is required by law for all vehicle owners to have third-party insurance coverage, this basic level of insurance coverage does not provide you with a lot of benefits. It will only provide financial cover to the third party. So, in the case of an accident, you will have to pay for the repair expenses of your own vehicle out of your own pocket. This is where comprehensive car insurance coverage can help you. Below are some reasons why you need comprehensive insurance for your car:

 

  • Value for Money -

Comprehensive insurance may seem expensive when compared to third-party insurance. However, when you compare the level of coverage offered by both, comprehensive car insurance proves to provide better value for money.

  • Extensive Coverage in Several Situations -

 Comprehensive insurance provides full coverage to your own car along with third-party liabilities during several situations like fire, theft, accident, natural calamities and man-made disasters.

  • Option to Enhance Coverage -

 Comprehensive car insurance plans give you the option to enhance the coverage of your base plan with various add-on covers. 

Comprehensive Car Insurance Plans Available at Bajaj Markets

Car Insurance Partners

Claim Settlement Ratio 

Comprehensive Car Insurance Premiums* Starting at

Check Plans

Bajaj Allianz General Insurance

68.06%

₹7,182

Check Plans

Acko General Insurance

82.35%

₹6,995

Check Plans

HDFC ERGO General Insurance

70.02%

₹8,816

Check Plans

The comprehensive car insurance premium rates are indicative and calculated for the lowest cc car. The actual premium may vary based on various factors. Kindly check the prevailing premium prices before purchasing your car insurance policy.

How to Purchase a Comprehensive Car Insurance Policy?

These days, you can buy a comprehensive insurance plan for your car while sitting at home. Here are the steps you can follow to buy a comprehensive insurance policy at Bajaj Markets:

 

  1. Visit the ‘Car Insurance Premium Calculator’ section on our website. 

  2. Enter your car’s registration number and your mobile number along with any other additional information required.

  3. Compare all the plans to analyse which plan offers the best features at a price that suits your budget.

  4. Pay the car insurance premium online.

 

That’s it! Your new comprehensive car insurance policy will be sent to your registered e-mail ID.

What are the Benefits of Comprehensive Car Insurance?

Following are a few benefits of comprehensive insurance coverage -

 

  • Extensive Coverage

Comprehensive insurance offers full coverage to your vehicle as it covers both third-party damages as well as damage to your own vehicle arising due to accidents, theft, or natural/man-made disasters.

 

  • Peace of Mind

With a comprehensive car insurance plan, you can drive your vehicle stress-free. Having a comprehensive car insurance plan eliminates the need to invest in a third-party car insurance plan separately. Since you benefit from the third party and own damage coverage under a single plan, it saves you a fortune.

 

  • No Claim Bonus (NCB)

With a comprehensive car insurance policy, you are eligible to earn a No Claim Bonus or NCB reward for every claim-free year. You can use these rewards to get a reduction in your car insurance policy renewal premium.

Inclusions & Exclusions in Comprehensive Car Insurance

Inclusions 

Exclusions 

Coverage for accidental damages caused to the insured vehicle.

Damages or injuries to the policyholder or third party under the influence of toxic substances like alcohol, drugs, etc.

Coverage for damages caused due to natural calamities like floods, earthquakes, etc.

Damages or injuries caused due to unlicensed driving of the policyholder.

Coverage for man-made damages like riots, fire, etc.

Insurance policy does not cover mechanical breakdown or regular wear and tear of the vehicles

Coverage for third-party liabilities includes loss or damage caused to their vehicle.

The insurance policy does not cover consequential damages.

Personal accidental coverage for injuries and loss caused to the driver.

Injuries or loss caused due to war-like situations.

Add-on perks feature to enjoy maximum benefits at a reasonable interest rate.

 

What are the Add-on Covers under Comprehensive Car Insurance?

Insurers in India allow policyholders to enhance the scope of their comprehensive car insurance coverage with add-on covers. Here are a few common add-on benefits available in India

 

  • Zero Depreciation Cover - 

With this cover, the insurer will not deduct the vehicle depreciation value from the claim amount at the time of settlement. However, zero depreciation cover can be availed for cars that are less than five years old.

  • Return to Invoice -

 It enables you to get an Insured Declared Value (IDV) same as the purchase price of the vehicle. Return to invoice is ideal for people who have purchased a new car.

  • Consumable Cover - 

This add-on consumable cover  provides coverage for consumables used in the vehicle, such as washers, bolts, nuts, engine oil, coolants, etc.

  • Engine Protection Cover - 

The repair and replacement of the engine of the vehicle are covered under the engine protection add-on.

  • No Claim Bonus (NCB) Protection - 

With NCB protection cover, you can claim your comprehensive car insurance plan at least once in the given year without losing the accumulated NCB benefits.

Comprehensive Car Insurance For Old Car

You can purchase a comprehensive car insurance policy for new as well as old cars. Purchasing an insurance policy is mandatory for new cars, but it is beneficial to renew it timely to enjoy coverage for unexpected insurance.

 

One must ensure the usage and long-term plans for old cars before purchasing an insurance policy. For example, if your car is 10 years old and you are willing to continue with it for the next five years, then it is advisable that you purchase a comprehensive car insurance policy. The insurance policy will have a low premium amount depending upon the IDV and other factors. However, you must keep in mind that insurance companies are generally reluctant to offer car insurance to cars 12 years or older.

Comprehensive Car Insurance Premium

Now that you know about the features and benefits of comprehensive insurance, it’s time you understand how the premium for a comprehensive insurance plan is calculated, what factors determine your premium, and how you can reduce your comprehensive car insurance price.

How is Comprehensive Insurance Premium Calculated?

You can use a car insurance premium calculator to calculate the insurance premiums you will have to pay for your specific model of car with the amount of coverage you have chosen. These insurance calculators have accurate formulas that help calculate the insurance premium amount based on different variables. If you are looking to calculate car insurance premiums manually, you can use the general formula given below:

 

Own Damage Premium – (No Claim Bonus + Discounts) + Cost of Add-ons + Third-Party Premium as Fixed by the IRDAI = Comprehensive Car Insurance

Factors That Determine Car Insurance Premiums

Here are the main factors that determine car insurance premiums:

  • Model and variant of car -

The type of car you have is one of the main factors that determine insurance premiums for comprehensive insurance. The more expensive and high maintenance your car is, the higher your insurance premiums will be. In other words, your car insurance premium is directly proportional to the cost of your car.

  • Location -

You may have to pay a higher premium if you live and drive your car in densely populated cities as the risk of accidents and damage is higher.

  • Type of fuel -

The fuel type of a car also determines the way premiums are calculated. For instance, premiums for CNG cars are generally higher than those for petrol cars.

  • Add-on covers chosen - 

If you choose to buy add-on covers, you will have to pay extra in the form of premiums.

How to Reduce Your Car Insurance Premium?

Here are some easy ways to reduce your comprehensive car insurance price:

  • Anti-theft devices -

Install anti-theft devices in your vehicle to enhance its security. Because of this, the chances of your car being stolen reduces and so will your car insurance premiums.

  • Higher Deductible - 

Opting for a higher deductible will lower the comprehensive car insurance cost. A deductible is nothing but the percentage of the claim that you (the policyholder) agree to pay from your pocket.

  • Avoid claims for minor expenses -

Avoid making small claims on your car insurance plan. Having a claim-free year will earn you NCB benefits. The accumulated NCB can be used to avail of discounts on car insurance premiums at the time of renewal.

  • Compare car insurance premiums online - 

Compare different car insurance plans online before buying the policy. That way, you will be able to invest in a plan that is affordable and suits your needs.

What Is NCB In Comprehensive Car Insurance? 

No-claim bonus points are reward points earned by the policyholder during a claim-free year. These NCB points are then redeemed in the form of premium discounts upon policy renewal by insurance companies. NCB points ensure that you enjoy maximum benefit at a reasonable price. 

 

The No-claim bonus points percentage increases with the number of claim-free years, however, if you make a claim, the NCB holds zero value and you cannot avail of any premium discount on policy renewal. Check out the table below to know more about the NCB discounts and claim-free years -

Claim Free Year 

Discount Percentage

1

20%

2

25%

3

35%

4

45%

5

50%

5+

50%

Who Should Buy a Comprehensive Car Insurance Policy? 

You must consider buying a comprehensive car insurance plan for your vehicle if you:

 

  • Live in Crowded Cities -

 You must choose a comprehensive insurance plan if you live in metropolitan areas with a high density of population. This is because vehicles are more likely to get into motor accidents in such cities as compared to remote areas. The chances of theft and vandalism are also higher in big cities.

  • Are a Frequent Traveller -

 If you travel extensively in your car, you should opt for a comprehensive insurance policy. Most comprehensive car insurance plans offer roadside assistance as well as access to network garages which can be highly beneficial if your car malfunctions or breaks down when you are travelling.

  • Have a Brand-New Car - 

As a new car owner, you should protect your investment with a comprehensive insurance plan to ensure it remains protected and has financial coverage in case of damage or accidents.

  • Have a High-End Car - 

You should choose a comprehensive insurance plan for your high-end car to make sure your car remains financially protected. In case you have an expensive car but no insurance, you may have to shell out a very high amount of money for any repairs and accidental damage

 

Car Insurance Claim Process

Insurance companies promise you a seamless and hassle-free claim process, but there are times when you might not be able to understand where to begin from. You can claim car insurance for various purposes and as per the standard protocol, you will have to follow the below-mentioned steps -

 

  • Contact the Insurance Company - 

You should contact the insurance company and inform the executive about the series of events. The executive will ask you to file a claim by submitting an application form along with the mandatory documents. 

  • Get the Estimate -

Understand the estimated expenditure to repair the lost and damaged parts of the vehicle.

  • Inspection -

The insurance company will send an executive to analyse the damages and the estimated expenses to sanction the claim amount.

  • Submit Documents -

Depending upon the claim settlement type, you will have to submit documents. Under cashless settlements, the bills will be automatically settled by the insurance company, whereas under reimbursement claims, the bills need to be submitted for disbursal of the claim amount.

How to File a Car Insurance Claim Online

There are two ways to claim your comprehensive car insurance -

 

  • Cashless Claim

Here are the steps to follow to file a cashless claim under your comprehensive car insurance policy:

 

  1. In case of an accident or damage to the car, immediately contact your insurance company to inform them about the damage and your intention to file for an insurance claim.

  2. Take your vehicle to the nearest network garage to assess the amount of damage.

  3. You can choose to file an insurance claim online as most companies offer online claim services.

  4. Upload necessary documents such as photos of the car, insurance papers, a copy of the FIR of the accident, etc.

  5. Once your claim is submitted, the network garage will begin the repair and replacement of the damaged car parts. Once the repairs are completed, the insurance company will pay the garage for the expenses incurred.

 

  • Reimbursement Claim

Follow the steps mentioned below to file a reimbursement claim against your comprehensive policy:

 

  1. Contact your insurance company and inform them about the damage and your intention to file an insurance claim.

  2. Get your vehicle repaired at a garage of your choice and pay for the expenses incurred.

  3. Now, to file your reimbursement claim online, upload the necessary documents such as photos of the car, insurance papers, a copy of the FIR of the accident, etc.

  4. Once your claim is submitted, the insurance company will review your claim and process it once approved.

Documents Required for Claiming Car Insurance

The documents required for claiming car insurance are -

 

  • Insurance Policy Papers

  • Car Registration Certificate

  • Driving License

  • Copy of the FIR 

  • Invoice (In case, of reimbursement claims)

  • Details of the Garage 

  • Tax Receipts

 Check Out Car Insurance Plans Available at Bajaj MARKETS

 

FAQs

✔️Is comprehensive car insurance expensive?

Yes, comprehensive car insurance is generally more expensive as it provides more enhanced protection to the policyholder and their car.

✔️Can you buy comprehensive car insurance online?

Yes, you can buy the best comprehensive car insurance plans online at Bajaj Markets and other websites.

✔️Is it safe to buy comprehensive car insurance online?

It is completely safe to buy comprehensive car insurance online as long as you buy it from a trusted insurance company or aggregator website.

 

✔️How can I calculate my comprehensive insurance premiums?

You can calculate your comprehensive insurance premiums by using a car insurance premium calculator.

✔️What is NCB in comprehensive insurance?

NCB or No Claim Bonus is a reward given by insurance providers to you (the policyholder) for a claim-free year. You can use these NCB rewards during comprehensive policy renewal to get a reduction in premium.

✔️What is the duration of a comprehensive policy?

The duration of a comprehensive insurance policy is one-year or 12 months.

✔️Is it compulsory to buy a comprehensive car insurance policy?

No, it is not compulsory to purchase a comprehensive car insurance policy, however, it is recommended to purchase a comprehensive insurance policy to get coverage and compensation for third-party liabilities as well as personal damages.

✔️How is comprehensive car insurance different from zero-depreciation car insurance?

Comprehensive car insurance is a type of insurance policy whereas the zero-depreciation is an add-on feature that can be added under any insurance plan.

✔️Is it a good idea to buy comprehensive car insurance for an old car?

You can purchase comprehensive car insurance for an old car, however, you must first initially analyse the age of the vehicle and its long-term usage. If the vehicle is below 15 years and you plan to continue with your vehicle for the next 4-5 years, then purchasing comprehensive car insurance is a good deal.

✔️When to purchase a comprehensive car insurance policy?

Ideally, you should purchase a comprehensive car insurance policy with the purchase of a car, however, you can purchase comprehensive car insurance at any point in time or during policy renewal.