Getting a new car for yourself is not the only thing you need to do to drive around with a peace of mind. You require car insurance for your automobile so that it covers you, your dream car, and also the third party who may be involved in an unforeseen or untoward incident. In India, having insurance cover for a car is essential, where at least a minimum amount needs to be covered.
The damage on the car or a person where the car is involved can escalate to criminal proceedings if you don’t have a valid car insurance Policy
to cover you. It could be an accident, natural disaster, or theft where car insurance policy helps to mitigate the loss and hassles that come with such incidents.
Take a look at the various possibilities where you can obtain insurance cover for your new car.
Types of Insurance Cover
Auto insurance policies can be of different types. Some choose a comprehensive policy that caters to dents, repair expenses against accidents, car theft, car parts pilferage, miscellaneous repairs, and technical problems. There is a third party car insurance where insurance cover is on the third party. The third party theft insurance policy covers car theft only.
Many opt for government-owned insurance providers for third party car insurance policy. Some noted ones which you can bank on to obtain insurance for a new car are General Insurance, Oriental Insurance New India Assurance, and United India Insurance.
Privately Owned Insurance Providers
Insurance providers matters to the customers if they get quality and prompt service. Online renewal of insurance policy, complimentary onsite car inspection, prompt and cashless repairs, dedicated round-the-clock helpline, and round-the-clock road side help are some of the key features identified as the USP of the auto insurance companies.
Some top insurance providers which provide prompt insurance claims are ICICI Lombard, Bajaj Allianz, Tata AIG, Reliance General Insurance, HSBC India, Maruti Insurance, and Royal Sundaram. These providers cater services to customers on certain factors, such as customer interaction, services offered in the policy, promptness in the renewal or purchase of the policy, billing and payment, and Premium
charged for the car insurance policy.
Tips to Buy Car Insurance
Today, there are many car insurance providers, each claiming to provide the best value for money. You can however, check the ideal auto insurance by going online. There are insurance aggregators which offer quotes of almost all the well known car insurance policies and help you to compare the premium rates, features, and benefits. And, if you get a suitable one, you can purchase it online. Often, you are eligible for discounts when you buy insurance policy from the net.
Keep an eye on the maximum compensation you can get when filing insurance claims. And, if you plan to furnish some part of the damage yourself, you should get a reduced premium in the bargain. Don’t forget about the no-claim bonus. Many insurance agents profess to give you the ideal policy and suitable compensation of a particular company. They are hired by the insurance company itself and need to promote the policies sold by that company only.
If you are lucky, you can hire the services of a car insurance broker, who sells car insurance policies of all the companies at the best of interest of the customer. A licensed broker will have his credentials and you can cross-check the same from the IRDA website. You need to provide a token fee for getting the car insurance policy.
There are about 11 car insurance
providers interspersed throughout India today. Survey
a little and find out the efficacy of the car insurance policies before zeroing in on one for your brand new car.