Comprehensive Car Insurance

Comprehensive car insurance offers to you plans that can provide holistic coverage, including third-party car insurance. It covers the repair and replacement expenses of a third-party vehicle involved in a mishap as well as your own.

Here are some of the key highlights of comprehensive car insurance.

Here are all the comprehensive motor vehicle insurance policies for four-wheelers that you can opt for on Bajaj Markets:

Disclaimer: 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.

This comprehensive motor insurance can be perfect for you if you are a private car owner. It covers third-party vehicle damage in the event of an accident and helps you protect your finances against damages. These can be caused to your vehicle during theft, mishaps on the road, natural calamities, fires, etc.  

Such car insurance also covers the unfortunate demise of a third-party, property damage and disability compensation. It also provides personal accident coverage for you and/or a passenger in your personal four-wheeler vehicle. This personal accident cover will provide compensation in the event of accidental hospitalisation or an unfortunate demise.

Inclusions

Exclusions

Motor insurance has grown along with the various technological developments in the past few years. You now have the option to purchase your comprehensive car insurance online. Here’s how you can do so through Bajaj Markets.

Step 1: Navigate to the ‘Car Insurance Premium Calculator’ page

Step 2: Enter your car number, mobile number, area pin code and other additional details

Step 3: Choose from multiple comprehensive car insurance policy options displayed on your screen

Step 4: Add the insurance riders of your preference to the basic plan

Step 5: Pay the premium amount through your preferred online payment method

Comprehensive car insurance offers you the chance of adding various top-ups and insurance riders to your plan. Hence, you can customise your comprehensive car insurance policy to precisely fit your needs. The add-ons offered by a comprehensive motor vehicle insurance policy for four-wheelers are given below:

Zero Depreciation Cover

Under this add-on, the insurer will not deduct your vehicle’s depreciation value from the claim amount during the settlement period. However, only cars that are less than five years old can be covered by this.

Return to Invoice

This rider helps you acquire an Insured Declared Value (IDV) that is the same as the purchase price of your vehicle. This can be a perfect fit for you if you are the owner of a brand new car. 

Consumable Cover

Consumables include washers, nuts, bolts, coolants, engine oils, etc. This add-on can enhance your comprehensive car insurance policy to offer coverage for consumables in case of damage. 

Engine Protection Cover

In case of damage caused to your car’s engine due to an accident, natural calamity, man-made disaster, etc., the engine protection add-on will provide you coverage against unforeseen mishaps.

No-claim Bonus (NCB) Protection

No-claim Bonus or NCB in car insurance is a discount you can get on subsequent renewal premiums for every claim-free year. This add-on cover will offer you a little cheat chit where you can get one chance to make a claim without tarnishing your claim-free year record.

Comprehensive Car Insurance Premium

Comprehensive car insurance premium refers to the basic amount paid by you for purchasing the coverage and benefits of a particular insurance plan. The premium price is greatly affected by factors such as your car’s IDV, add-ons, model, age of the car, etc.

Now let’s have a look at how your insurance premium will be calculated, the factors that will determine your insurance premium and how you can reduce your car insurance premium.

You can calculate an estimate of your comprehensive car insurance price by yourself to decide the perfect insurance plan for you. For a manual calculation, you can use the following formula.

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

However, to make things significantly easier for you, Bajaj Markets offers the comprehensive car insurance premium calculator. You can use this to derive an approximate premium amount depending on your car’s model, brand, purchasing price, etc. All you need to do is enter fundamental details of your car into the premium calculator and you will be able to find out an estimate of the potential premium amount of your comprehensive car insurance plan.

Here’s what you should consider while claiming coverage from your insurance company:

• Make sure that your insurer provides you with a claim reference number. This code will help you with all claims you make through your comprehensive car insurance policy in the future

• Keep a police FIR ready for submission before you file a claim as it is mandatory

• Know exactly what your policy does not cover, since you would not want to return disappointed after claiming a policy exclusion

Be prepared to pay the predetermined deductible cost charged to you despite the claim

Keep the following documents handy before making a comprehensive car insurance claim.

• Insurance plan documents

• Car Registration Certificate (RC)

• Driver’s Licence

• FIR Copy

• Invoice in case of reimbursement claims

• Garage details

• Tax Receipts