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Car insurance offers protection against any financial losses arising due to accident, be it with another vehicle or against any object, theft of the vehicle or parts of it, water or fire damage etc. Having a comprehensive car insurance helps you protect against any liability arising out of an accident that involves a third party, person, or property. It also covers all kinds of natural and manmade calamities. According to the Motor Vehicles Act, India, it is mandatory to have a third-party insurance cover for your car.
| Plans | Cover Value (IDV) | PA Cover Price | Net Premium | Plan Details |
|---|---|---|---|---|
| Zuno (Edelweiss) Car Insurance | ₹ 3,98,678 | ₹ 375 | ₹ 10,108 | |
| Shriram Car Insurance | ₹ 3,59,000 | ₹ 375 | ₹ 10,256 | |
| Iffco Tokio Car Insurance | ₹ 2,58,480 | ₹ 325 | ₹ 10,844 | |
| Digit Car Insurance | ₹ 3,59,000 | ₹ 330 | ₹ 11,473 | |
| Liberty General Car Insurance | ₹ 3,59,000 | ₹ 375 | ₹ 11,584 | |
| Reliance General Car Insurance | ₹ 4,77,873 | ₹ 375 | ₹ 11,799 | |
| Bajaj Allianz Car Insurance | ₹ 5,41,590 | ₹ 331 | ₹ 13,573 |
A comprehensive car insurance plan provides complete cover against third-party/person/property liability and for damages (collision, theft, accident, and more) caused to your own vehicle. You can also avail of a wide range of rider options such as zero depreciation, roadside assistance, personal accident cover, and more at the cost of an additional premium. This type of plan is a 360-degree car protection plan; ideal for all car owners.
A third party car insurance only provides cover (death, disability, injury, and more) against damages incurred to a third person or property. It does not provide cover for you and your car. The premium of third party car insurance is determined by the Insurance Regulatory and Development Authority of India and is revised on an annual basis. A third party cover is mandatory for driving a motor vehicle in India according to motor vehicle act of 1988
| What Is Covered? | Third-Party | Comprehensive |
|---|---|---|
| Third-Party Vehicle Damage | ✔️ | ✔️ |
| Third-Party Property Damage | ✔️ | ✔️ |
| Own Vehicle Damage | ❌ | ✔️ |
| Vehicle Theft | ❌ | ✔️ |
| Fire Damage | ❌ | ✔️ |
| No Claim Bonus | ❌ | ✔️ |
| Cashless Claim | ❌ | ✔️ |
| Damage from Natural Calamities | ❌ | ✔️ |
| Personal Accident Covered | ✔️ | ✔️ |
| Engine Protection | ❌ | Through Add-on |
| Zero Depreciation Cover | ❌ | Through Add-on |
| NCB Protection | ❌ | Through Add-on |
| Invoice Cover | ❌ | Through Add-on |
| Key Features | Benefits |
|---|---|
| Own Damage Cover | Available under Comprehensive and Standalone plan |
| Third Party Damage Cover | Covers third party injury and property damage |
| Car Insurance add-ons | 10+ add-ons according to the plan |
| Personal Accident Cover | Upto 15 Lakh |
| Cashless Repairs | Available |
| Car Insurance Premium | Starting @ ₹2072/year |
| Buying/Renewal of Policy | Online & Offline |
| Savings | Upto 80% on Car Insurance Premium |
| No Claim Bonus | Upto 50% |
Buying car insurance online has become a common practice as it offers numerous benefits. You can get your car insured against damages and financial losses caused to accident, fire, theft etc. by buying a car insurance policy online in 3 simple steps. Check out the below advantages that come with buying four wheeler insurance online.
It is very important to compare car insurance policies in order to choose the best policy for your car . Compare car insurance online from the best insurance companies before renewing your policy. It takes only a few minutes to compare and buy or renew car insurance online. Follow the simple steps as below to choose the best car insurance coverage.
| Car Insurers | Network Garages | Claim-Settlement Ratio(%) |
|---|---|---|
| Zuno (Edelweiss) Car Insurance | 1200+ | 84.61 |
| Iffco Tokio General Insurance | 4300+ | 84.12 |
| Reliance General Car Insurance | 6200+ | 75.57 |
| Bajaj Allianz Car Insurance | 4000+ | 68.53 |
| Hdfc Ergo General Insurance | 6,800+ | 74.66 |
| ICICI Lombard General Insurance | 8,800+ | 70.88 |
| Kotak General Car Insurance | 1,300+ | 82.67 |
| National General Car Insurance | 3,100+ | 90.68 |
| New India General Car Insurance | 3,000+ | 91.00 |
| SBI General Car Insurance | 16000+ | 93.58 |
| Tata AIG General Insurance | 5,000+ | 74.51 |
| United India General Car Insurance | 3,100+ | 98.90 |
| Universal Sompo General Car Insurance | 3,500+ | 91.32 |
| Liberty Car Insurance | 4300+ | 62.84 |
| Future Generali Car Insurance | 3500+ | 62.43 |
| Digit Car Insurance | 1000+ | 79.54 |
| Cholamandalam Car Insurance | 7100+ | 65.05 |
| Royal Sundaram Car Insurance | 3300+ | 85.76 |
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Your four-wheeler car insurance plan covers the following instances:
Your auto insurance plan does not cover the following instances:
Pay as You Drive(PAYD) insurance, also called telematics insurance, is changing how people think about car insurance. Traditional insurance can be little expensive and may not reflect how someone actually drives. PAYD offers a personalized and cheaper option. It uses telematics technology to keep track of how someone drives and adjust the cost accordingly.
Telematics Technology is the backbone of PAYD car insurance. It involves the use of a small device, typically installed in the car's dashboard, that collects data on the driver's behavior. This data includes information on speed, distance traveled, and time of day the car is driven. Some telematics devices also collect data on driving habits such as hard braking and acceleration. This data is then transmitted to the insurance company, where it is used to determine the driver's insurance premiums.
PAYD car insurance works by using the data collected by the telematics device to calculate a driver's insurance premiums. The more safely a driver operates their vehicle, the lower their premiums will be. This is because the insurance company views safe drivers as less of a risk and therefore less likely to make a claim. On the other hand, drivers who engage in risky behavior such as speeding or hard braking will see their premiums increase.
It is easy to find the premium amount using a Car Insurance Calculator online. Companies calculate car insurance premiums after taking into account various aspects. Following factors are considered by the auto insurance companies when deciding the insurance premium:
IDV = Car’s Showroom Price + Cost Accessories- Depreciation on Car
Thus, the formula for calculating Own Damage Premium Amount is:
OD = Insured Declared Value X [Car Premium as per the insurer)] + [ Optional Benefits] – [NCB/Discount etc.]
If your four wheeler insurance policy expires, you become prone to legal as well as financial risks. Here are the reasons you need to renew your private car insurance policy.
Driving a car with an expired insurance policy can land you in legal penalties. Repeated offenses can also make you face imprisonment. In order to avoid these troubles, you need to renew your car insurance if it has expired.
An expired car insurance policy provides no coverage to your vehicle. Thus you cannot make any insurance claims in case of damage or theft. You will have to bear all the expenses by yourself.
If you do not renew your four wheeler insurance on time, then the process might become difficult and take longer than usual. The delay might be because an inspection is required to renew the policy.
You may also lose No Claim Bonus (NCB) of your car insurance if you do not renew your car insurance policy within 90 days of its expiry. This can be a huge loss for you as NCB helps lower the insurance premium for the next year.
If your car insurance policy has expired, the insurance company would require your car for inspection. There might also be a price hike due to the inspection process done by the company and if your car is in bad shape or at risk.
Every car insurance policy must be renewed to enjoy continuous insurance benefits. You can apply for car insurance renewal online as well offline. However, renewing car insurance policy online can give you several advantages. These benefits are:
In case of an accidental emergency that requires immediate hospitalization, you need to inform your car insurance provider instantly. Here is a step-by-step guide to filing an online car insurance claim:
In order to file a successful auto insurance claim, you will require the below mentioned documents:
Car insurance policy documents
Copy of your driving license
Copy of RC of the car
Duly signed copy of claim
Original repair invoice
Fitness certificate for commercial vehicles
ID proof of insured person like Aadhar card, PAN card etc.
Renewal of a car insurance plan does not come with a fixed cost. There are a lot of factors like type of policy, add-ons, car modifications etc. However, you can check for the available plans by applying for car insurance policy renewal online.
First and foremost, having a valid car insurance policy is mandatory under the Indian Motor Vehicles Act, 1988. You cannot drive your car without holding at least a third-party liability-only policy. It is best if you buy a comprehensive car insurance policy as it protects you, your car, third party person and property. It covers risks like fire, natural calamities, car theft, and more.
The cheapest car insurance policy is the policy that offers you the highest insurance cover with all the required add-ons at the lowest possible premium. Your requirement is different from other people, so what is cheapest for others may not be suitable for you. Check out this article to find out the cheapest car insurance for your car.
You can simply visit coverfox and provide your car details like registration number or make and model to check various car insurance plans available for your car along with the premium you have to pay for it.
You can easily download your car insurance policy online from the insurance company's website. If you have bought your car insurance policy from Coverfox, you can download it from your online account by logging in with your ID and password.
Your policy document or insurance certificate has the policy number printed on its first page. You can also connect with the insurance company to know your policy number.
Zero Depreciation, an add-on cover, is known by many different names like Nil depreciation or Bumper to Bumper Cover. If you have attached this add-on to your comprehensive car insurance policy, depreciation value is not subtracted from the coverage of wearing out of any body parts of the car, excluding tyres and batteries. The insurance company will pay out the entire cost of the body part for replacement. Check out the dedicated page on Zero Depreciation to know more.
Normally, there is no limit placed on the number of claims that you can make in a policy year. It is best to go through the policy document carefully to know if any limits are applicable to your policy. You must also remember that on making a claim, you will not get a No Claim Bonus.
Bumper to Bumper Car Insurance Policy is a comprehensive car insurance policy with a Bumper to Bumper add-on attached to it. It is also known as Zero Depreciation Policy or a Nil Depreciation Policy. Read our dedicated page on Zero Depreciation to know more.
In case you find out there is a mistake in your car insurance policy document, instantly contact your insurance company and highlight the mistake you have come across. If the insurer asks for additional information or documents for rectification of the mistake, you must provide the same at the earliest possible. On receipt of the information, the insurer will provide you with a new policy document or issue an endorsement letter.
You can instantly apply for car insurance policy renewal online on Coverfox. All you have to do is provide your expired car insurance policy number and select a car insurance policy that is best for you. Pay the premium from the payment options available, and you will receive the renewed policy in your inbox
No, a comprehensive or third party liability only policy does not cover the passengers riding in the car. In order to provide protection to people riding in your car, you can buy a passenger cover add-on by paying an additional nominal premium.
Yes, Indian Motor Vehicles Act, 1988 clearly states that it is compulsory for every car owner to have at least a basic third party liability only plan before they can use their vehicle on Indian roads.
If you are using your car without a valid car insurance policy, you will be fined Rs. 2000/- and also get to enjoy a free trip of 3 months to jail. On the second offence, the fine amount increases to Rs 4,000/- with 3 months of jail term.
