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Car Insurance

Get the best of both worlds - superior car coverage and attractive premium.

Importance of Car Insurance in India

'Nimbu Mirchi' can only protect you from 'buri nazar' even if you're a fabulous driver. Insurance was created to protect you from unexpected and unlikely events. Here are some scenarios where a car insurance can act as a life saver!

How to save on Car Insurance Premium

Choose The Right IDV

Choose The Right IDV

A lower IDV demands a lower premium to be paid. (But compute wisely, since IDV is the utmost value the insurer can compensate you with).
Avail No Claim Bonus

Avail No Claim Bonus

Your responsible driving skills are rewarded with a bonus of upto 50% on your premium, for every consecutive claim-free year. Now isn't that a treat?
Install security devices

Install Security Devices

Automative Research Association of India (ARAI) approved anti-theft devices can fetch you up-to 2.5% discount on your car insurance premium!
Become AAI Member

Become AAI Member

Membership of the Automobile Association of India, an organisation powered by IRDAI, secures you a concession on own-damage premium.

Compare Car Insurance: Get the Best Quote Online

Compare car insurance policies using a simple tool to get the best quotes from top insurers.

12+ Insurance Companies in India
20+ plans available in market
16+ Unique Add-on Covers to choose from
3500+ Cashless Garage Network

Benefits of Car Insurance Renewal through Coverfox

Choose The Right IDV

60% DISCOUNTS

Get up to 60% discounts on own damage premium. The discount rates vary for each Car make, model and RTO. Check out the rates against your car!
Avail No Claim Bonus
UNBIASED EXPERT ADVICE
We have a team of experts to help you pick the right insurance for your car. We recommend listening to their advice and making your own decision. Renewal of your car insurance also becomes a really easy task because of our expert's unbiased advice.
Install security devices

POST-SALES ASSISTANCE

Our service managers are there to help you with any concern regarding your policy. Confused about some clause? Need something changed? Want to file a claim? We are here to help.
Become AAI Member

EXPRESS CLAIMS SERVICES FOR FREE

Car damaged? No more waiting for days to get it back on the roads. Our Express Claims Service guarantees 3 day car repairs and claim settlement. Just give us a call, and we’ll do the rest. It’s a door to door service, you don’t have to move an inch!

Car Insurance Renewal Checklist

While renewing your car insurance policy online, leave no scope for ‘blind spots’.

  • Apt Coverage: If you only have third-party plan, then you need to consider getting a comprehensive policy. This will cover you against heavy expenses of repairing your car in case of an accident.

  • Check IDV: You need to get suitably compensated in case of theft/loss. Depending on your car's age, re-evaluate your car's Insured Declared Value against premiums. By this, you'd know if you have got the best price.

  • Claims Check: This makes a huge different. If you haven’t checked the claims ratio of your previous insurer, don’t skip verifying it now.

  • Check Cashless Garages: Take sure you look for the cashless garages near your area that would provide, repair services for your car.

  • Ideal Add-ons: If you were not aware how add-ons can help you during claims, this is the time. If your car’s age is less than 5 years, consider covers like Zero Depreciation or Engine Protector or Return to Invoice.

  • Deductibles & Discounts: Check if you’ve got all discounts that you are eligible for. A deductible indicates the amount you will have to pay every time before claim. If your policy includes it, ensure that it fits your budget.

You happy. We happy.

"My first experience with Coverfox was an absolute delight. Their positive response and effective actions changed my opinion of the entire insurance segment. Hope they keep it up!"

Ramachandran D

"What I’ll never stop being thankful for is the fact that my claim for total loss was settled in such less time. Thank you so much for all the support from your side!"

Arun H

"Their prompt replies, seriousness about policy deliveries and commitment to their job are just some factors that make Coverfox shine through. But their complete transparency in their calls clearly is the icing on the cake!"

Navneet

"Having been a customer for over a year, I feel relaxed as far as health insurance is concerned. Their customer service personnel guided me through each step of my process while helping me finding the best plan!"

Manoj Kumar Jain

Things you must Know

What are the documents required to buy car insurance online?

With the availability of online platform, buying insurance is a very simple and hassle-free procedure. However, if the insurance company demands, you would need to keep the following documents handy.

  • The copy of your Registration Certificate (RC) of your vehicle
  • The invoice copy for a new car
  • Previous insurance policy
  • No claim bonus reserving letter, whenever required

What are the documents required to register a claim?

The sole purpose of buying insurance for your car is to get adequately compensated for any damages and losses. To ensure that you raise a successful claim, it’s necessary to keep all the relevant documents at hand. While insurance companies try their best to avoid pesky paperwork, here is a list of documents you need to have on you:

  • The copy of the Registration Certificate and Tax Receipt of your car
  • The proof of valid insurance document
  • Copy of your Car Driving License
  • Repair Bills and Payment Receipts in case of reimbursement
  • Copy of FIR/Panchanama in case of Theft or Third Party damage/death/bodily injury For more details on different types of claim process, read motor insurance.

How do you compare car insurance plans before choosing one?

We all know that too many options usually implies too much confusion. That is why, before choosing, one must compare plans on the basis of:

  • Car Insurance Company: Check the company’s past records for the number of claims settled and the time taken to settle them.
  • Premium and Coverage: Balance between the premium you are willing to pay and the coverage that you will actually end up needing. Also, don't forget to include add-ons accordingly.
  • Cashless Garage Network: Be sure about the insurer’s network garages in your area. You must remember that you can avail cashless services only at these garages, so that's always tricky.

How is the premium for expired car insurance determined?

A car insurance policy will be valid for a particular period. After this period, the insurance policy lapses. It is advisable to renew it in time so as to benefit from the No Claim Bonus (NCB). If policy lapses and you renew it within 90 days you may still benefit from the NCB. Post 90 days, you need to initiate the process by filling details all over again and getting your car inspected by the surveyor. Also, as the NCB is lost it would result to higher premiums.

Is online car insurance only for new car?

No, online car insurance is not only for new car. You can also renew your existing policies online.

How to renew car insurance online?

You can visit the insurer's website and enter your previous year car insurance policy details. In case you didn't lodge any claim during the policy period, you are entitled to No Claim Bonus (NCB) benefit, which is a discount on your car insurance premium.

You can check different car insurance policies offered by various insurers and compare to pick up the best car insurance policy that best suits your needs before buying on online web-aggregators site. The renewal process is the same on most online web-aggregators.

What parameters should I keep in mind while comparing car insurance quotes?

While doing a car insurance comparison, you need to consider the amount you are willing to pay as premium with respect to the best coverage options available. Depending on the car model, engine type, and your area of residence, you need to understand your requirements and limitations.

A little background research is required on the insurance companies. Compare car insurance premium breakup by different insurance companies. Check if the Insured Declared Value (IDV) is optimum enough to save you from total losses of your car in the event of an accident or theft.

Choose add-on covers, like zero-depreciation cover, as per your requirement. Apply discounts (like No-claim Bonus on own-damage premium) and then compare to see if the insurance quote provides value for money.

How does Coverfox.com assist me with car insurance comparison?

When you compare car insurance quotes on Coverfox.com, you get customized quotes for your car from different insurers available. In case you do not understand the plan that you choose or any other aspect of the plan that you wish to buy, then our expert advisors are available to guide you through the process.

Can I expect the quotes to change if I compare now and then try again after few hours?

It won't change in few hours. However, it may change after every 15 days only if insurance companies update their insurance prices. In such cases, the insurance quotes may increase or decrease. However, note that each year, IRDAI revises the third-party rates, so you would find a change in quotes annually due to revision in third-party part of the premium.

If I have viewed quotes for comparison and want to save them so that I can review them later, is it possible to save quotes?

For this, you can bookmark the URL and then view the quotes as per your convenience.

Another option that you have on Coverfox.com is to view your quote and click on the button ‘shares these quotes’ and then copy paste the link and save it somewhere. Perhaps if you want to show these quotes to your dad or a friend, you could do so easily via the share button.

Will my premium be cheapest if I stick to the same insurer every year?

No.

It is not necessary that your premium will get cheaper if you stay with the same insurer. Insurers usually don’t offer retention discounts online. They may have their own discounts to offer – Example: Occupation discount, etc.

If at all your premium decreases it could be because your IDV has reduced. Or perhaps, you had a claim-free year so you can ask for NCB discount. Or perhaps you chose to discontinue certain add-on covers. For example, you may have had a zero-depreciation add-on but that would be valid only till the 5th year. From the 6th year onwards, since the add-on is discontinued, your premium is lowered by default.

Your premium could also increase, if you may have added few more add-ons such as personal accident cover add-on or accessories cover add-on. Sometimes, due to increase in taxes, the premiums can increase.

Why car insurance policy is so important in India?

We all know that cars have become a need in today's times. One of the most convenient and favored ways to commute to work is driving the car you own. Most drivers are aware that buying car insurance is mandatory as per Indian law. They also know that driving carefully would lower the car insurance premium and driving carelessly would increase the insurance premium. Also, being a new driver would again raise the insurance premium.

But, driving a car minus a valid car insurance results in you paying a hefty fine according to the Indian law. This makes it mandatory for every car owner to get car insurance for every car they own.

Car insurance is the actual reason why our cars run on the roads hassle free. Life becomes really relaxed and stress free when you have car insurance.

Getting car insurance is not only mandatory but is important for your well-being too. There are numerous reasons as to why this insurance is needed. There are certain things that are never in your control. For example, your car getting harmed in an accident is not in your control. It’s not necessary, it would be the driver’s fault always. Freak accidents cannot be predicted in advance and hence cannot be controlled.

If you buy a car insurance, you do not have to worry about spending money for getting it repaired in case of an accident. Apart from this, car insurance also provides coverage in case the car gets stolen. There are other coverage benefits too but those vary on the type of coverage you opt for.

Car insurance is mainly categorized into 2 categories i.e. third party car insurance and the comprehensive car insurance policy. But what will surprise you (if you don’t really know) is that only the third-party insurance is compulsory by law. And therefore, buying comprehensive car insurance still becomes a matter of choice.

  1. Third party insurance for your car is nothing but the coverage guaranteed to the third party only .i.e. damage to another person’s vehicle or property, bodily injuries and permanent disability during an accident by your car and is mandatory by law.

  2. A comprehensive car insurance is a complete coverage for any damages done to your car due to any dents caused by any other vehicle during a road accident. Or say, the windshield of the car getting damaged or broken or may be your prized possession getting stolen.

Below are the damages/injuries, specifically taken care by the comprehensive car insurance policy:

  • Theft
  • Fire
  • Vandalism
  • Natural disasters
  • Civil Disturbances
  • Damage was done to your car by animals or wildlife
  • Road accidents

You may be thinking that it is useless to insure a car standing idle in the parking lot. But, you actually fail to understand that an unused car is more prone to damages. It really makes sense to go for an insurance cover for such a car than paying hefty amounts in repairing the damages.

Even if your car is lying unused, buying a car insurance would not only get you the peace of mind but also take care of all the unforeseen situations. So, even if you do not drive, do not avoid to buy a car insurance policy.

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