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.
Highlight |
Specification |
Cashless Garages |
Yes |
Third-party Damage |
Covered |
Own Damage |
Covered |
Personal Accident |
Covered |
Natural Disaster Damage |
Covered |
Add-ons |
Available |
No-claim Bonus |
Up to 50% |
Here are all the comprehensive motor vehicle insurance policies for four-wheelers that you can opt for on Bajaj Markets:
Car Insurance Partners |
Claim Settlement Ratio |
Comprehensive Car Insurance Premiums* Starting at |
Check Plans |
Bajaj Allianz General Insurance |
98.54% |
₹7,182 |
|
Acko General Insurance |
95.64% |
₹6,995 |
|
HDFC ERGO General Insurance |
100.00% |
₹8,816 |
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.
The term ‘comprehensive car insurance’ pretty much signifies the provision of insurance for your four wheeler that offers you complete coverage, something beyond third-party car insurance. Comprehensive car insurance covers not only the damages inflicted upon a third-party vehicle but also the repair and replacement expenses of your own car.
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.
Fires
|
Accidents
|
Calamities
|
Theft
|
Personal Accident
|
Third-party Coverage
|
Driving Under the Influence
|
Illegal Driving
|
Unlicensed Driving
|
Mechanical Damage
|
War Damage
|
Wear and Tear Repairs
|
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:
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.
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.
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.
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 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 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
The NCB or the No-claim Bonus is a special incentive given to you for making no claims for a stretched period of time, such as a year or more. It can provide you a discount on the next renewal premium, thereby helping you save money on your overall comprehensive car insurance premium.
If you are to compare comprehensive car insurance with third-party car insurance, you will find it costlier. However, it is important to bear in mind that comprehensive car insurance offers you highly inclusive coverage wherein third-party car insurance is a subcomponent along with own damage, personal accident, road assistance, and more.
Yes, you can buy comprehensive car insurance online. In fact, you can get one right here on Bajaj Markets.
You can derive a comprehensive car insurance premium estimate through various online premium calculators. For instance, you can use the one on Bajaj Markets to get an approximate value of your future comprehensive car insurance.
No, comprehensive car insurance is not compulsory. However, it includes third-party car insurance which is a mandate as per the Motor Vehicles Act, 1988.
It is advised to purchase a comprehensive car insurance plan as soon as you purchase a car. However, if you haven’t done so yet, you could get an insurance plan as soon as possible.
Yes, you can always upgrade to a comprehensive car insurance policy for better coverage.
You can claim the benefits and coverage offered by comprehensive car insurance either online or offline. Moreover, you can make a reimbursement claim or cashless claim as per your preference.
Will car modifications impact my comprehensive car insurance premium?
Yes, they will. Modifications made to your car to enhance its exterior will increase the premium price.
Yes, they will. Modifications made to your car to enhance its exterior will increase the premium price.
If you sell your car, you will have 14 days after the sale to transfer ownership of the insurance plan to the new owner under the Motor Vehicles Act, 1988.
No. Only damages to your car as a result of accidents, mishaps, and calamities will be covered by the policy. Repairing damages or malfunctions due to normal wear and tear will have to be taken care of by yourself out of your own pocket.
No. A comprehensive car insurance plan does not cover electrical or mechanical breakdowns of your vehicle.