- About Coverfox
If you have a car, you do need car insurance. A comprehensive car insurance plan is your car’s best friend. It will protect you and your car in case of a road accident. As an added bonus, your car is also protected from theft and third party damages.
A third party is a person who is involved in an accident with you. He/she has every right to file a legal case against you.
When you look at all the facts mentioned above, these instances can happen to your car at any given day. So why take the risk? Get yourself the best online car insurance today on Coverfox - India’s largest digital insurance broker and one of the best top insurance comparison sites. It is time to say goodbye to your old car insurance and buy new car insurance today!
It is absolutely necessary to buy an insurance plan for your car. You can’t keep your car unsafe all the time. Those roads are dangerous! Here are five reasons to buy car insurance.
We all know by now that car insurance is important, now is the right time to buy one. Say no to cheap car insurance. Buying a car insurance plan online is the best way to get a good insurance plan for your car.
With Coverfox on board, you can easily get the lowest car insurance premium quotes from the best car insurance providers in India. There is no need for you to search for car insurance near me, car insurance agent near me or a car insurance company near me, like ever! All you need to do is visit the official website of Coverfox and let us do all the work for you. Did we tell you that you can do this from the comfort of your home, office and mobile?
Yes, buying the best car insurance policy on Coverfox is a completely online and paperless process. Say goodbye to physical documentation!
No more waiting for the policy document! Once you buy your favourite car plan from Coverfox, the policy is delivered instantly straight to your inbox.
From comprehensive to third party, own damage (OD) to pay as you drive, cashless car insurance to car insurance for commercial vehicles, you can get all of these plans along with car insurance offers on Coverfox at the click of a button.
To help you with the same, we have created a step-by-step guide on buying the right insurance plan for your precious car.
This is how Coverfox car insurance works:
Step 1 - Visit Coverfox.com and select Car Insurance.
Step 2 - Start by entering your car registered car number.
Step 3 - If you do not remember your car number, you can select the second option (search for your car e.g. Hyundai i10).
Step 3 - Answer a few questions regarding the basic details of your car and policy (if any).
Step 4 - Select from a wide range of car insurance plans. You can go further and customize the policy as per your requirement.
Step 5 - Choose the right quote and make the payment online.
Step 6 - Your policy will be delivered to your inbox within 5 minutes.
Still confused? Call us on our Toll-Free numbers and let Coverfox do all the work for you.
At Coverfox, we believe in making insurance simple for you. We want you to be completely aware of what you are getting yourself into so that you never have to rely on another agent, like ever. To simplify the buying process, you can easily view multiple car plan quotes from different insurers and select your favourite plan on a single webpage. All of this plus the buying facility included. With Coverfox, you need not go anywhere else for insurance. We are a one-stop shop for you and your car. Still confused about online car insurance? Just submit your phone number and we will have our experts to help you buy third party car insurance online along with comprehensive cover.
In addition, you can get value added benefits on Coverfox such as:
|Convenient||Check quotes from the top car insurance companies in India instantly. Everything is available within the comfort of your home or on the go with Coverfox.|
|Clarity of Policy Details||You get to understand the ideal coverage for your car, the right price, possible discounts, deductibles and exclusions.|
|Commercial Car Insurance Online||Commercial car insurance cost differs from standard general insurance. We offer that too.|
|Numerous Options||With multiple policy options to choose from, you can assure yourself the best policy that is apt for your car.|
|Save Money||You can save money in the overall process of buying car insurance as online policies are less expensive.|
|Transparency||You can view details of the product that various insurers offer. You can also read reviews of different plans to make your choice.|
|Get Smarter||Coverfox has a deposit of videos, infographics, and articles to help you understand the finer points of Insurance.|
|Free Express Claims Services||Our Express Claims Service guarantees 3-day car repairs and claim settlement.|
|Discounts||Avail up to 60% discounts on own-damage premium. Get car insurance lowest price today!|
|Excellent Customer Service||Our service managers are there to help you with any concern from claims processing to car insurance renewals.|
|Expert Advice||We provide an unbiased opinion that clears the confusion and helps you buy that perfect plan for you.|
|Post Sales Assistance||We have the best Service Managers who assist you with all your post-sale requirements - from claims processing to renewals!|
There are 3 types of car insurance plans in India. Let us break them down for you.
Note: The term ‘IDV’ refers to the maximum claim your insurer will pay if your vehicle is damaged beyond repair or is stolen. Suppose the insured declared value (IDV) of your car is Rs. 8 lakhs while the purchase price was Rs. 10 lakhs, the insurer will disburse a maximum amount of Rs. 8 lakhs.
Own-Damage (OD) Insurance, as the name suggests, helps you stay covered against loss or damage of your vehicle due to incidents like fire, theft, etc.
Now, companies and general insurers provide the option to purchase car insurance online along with stand-alone own damage covers, and third-party policies separately.
According to IRDAI, policyholders can now renew the OD component of a bundled cover with the same insurance provider or a different one. It is essential to note that insurers will only issue a standalone own-damage cover or renew the OD component of a bundled cover if the applicant already has a long-term third-party cover in place or takes one simultaneously.
While having a standalone OD policy is optional, you consider opting for it since it safeguards your insured car from loss or damage caused by accidents, theft, etc.
|Damage to a third-party vehicle||Yes||Yes|
|Damage due to Fire||No||Yes|
|Damage due to Natural Causes||No||Yes|
|Personal Accident cover||Yes||Yes|
Premium is the cost of your insurance plan. Here are the most important factors which affect your car insurance premium.
You can calculate the car insurance premium for your car with the help of an online car insurance premium calculator. We have created a free tool that will automatically calculate the premium for your car. This is how it works:
You must have come across this term quite often when looking for car insurance. Add-ons or additional riders are nothing but added benefits to your existing policy. There are many things which are not covered under your comprehensive policy. This is when you need an add-on.
Here is a list of common add-ons which you can buy at the cost of additional premium.
|Zero Depreciation Cover||This add-on is for the repair or replacement expenses of plastic, rubber, glass, and other materials which are not covered in a regular policy.|
|Engine Protection||This add-on protects the car engine in cases of flooding.|
|NCB Protection||This add-on provides a discounted premium on your no-claim bonus year-on-year.|
|Invoice Cover||This add-on pays the car's invoice value i.e. on-road price instead of the Insured Declared Value, in case of total loss or theft.|
|Other add-ons||Include Vehicle Reimbursement, Personal Accident Cover, Rental Replacement, Key Replacement Cover, Cost of Consumable Items, Roadside Assistance, Downtown Protection, etc.|
Here is a list of things which are covered/not covered in a car plan.
|Own Car Damage for all damages that occur to your car due to accidents||Damages caused if you are caught driving under the influence of alcohol|
|Personal Accident Cover, in case of death or permanent disability in an accident, the insurer compensates you||Loss and damages that are caused due to war and nuclear risk|
|Injury to a third person or property. This comes under third party liability car insurance and is mandatory by law||Accidental Damages caused while you were using your car for illegal activities|
|Financial protection from natural calamities such as floods, earthquakes, etc||Losses incurred while driving without a valid license|
|In case of theft, your insurer will pay an amount equal to your Insured Declared Value or IDV||Driving with an expired insurance policy|
|Man-made disasters including riots, strikes, fire, and terrorism is covered||Any violation of the car manufacturer's rules and regulations regarding the use of the car resulting in related failures and breakdowns|
|Contractual Legal Liability - In case you have entered into a contract which states that your car has been given to a third party for rendering services. And the third party meets with an accident (while driving the car) or damages the car, losses arising henceforth will not be covered by your motor insurance plan|
|Regular mechanical expenses due to consistent wear and tear. This includes depreciation of car parts and components|
|Geographical cover is limited to neighbouring countries such as Bangladesh, Bhutan, Nepal, Pakistan, Sri Lanka and Maldives. you can avail the same at the cost of additional premium|
|Damages to the car arising out of war, terror attacks, invasion, foreign enemy action, civil war, mutiny, rebellion, hostilities, radiation or nuclear material/weapons|
|Neither third party nor a comprehensive car insurance plan provides cover for your paid driver. You will have to buy a cover separately for your driver as per the Workmen Compensation Ac|
|Negligence by the car owner which leads to loss. Example - Not maintaining the car properly during the time of floods or avoiding regular service check-ups|
|Damage to the car engine caused by an oil leakage|
|Mechanical and electrical breakdowns are not covered by a standard motor insurance policy|
|You engine is not covered under your policy|
Now that you have a basic idea of insuring your car, you should go ahead and look for the best possible cover. You should select a plan on a variety of factors such as car model/variant, engine capacity (CC), manufacturing date, and age.
Here are a few tips to select the right type of car insurance plan:
If you have not made a single claim in a policy year, you will be entitled to No Claim Bonus. A No Claim Bonus is available in the form of a discount on your insurance premium during the time of renewal.
In case of a claim/emergency, for immediate assistance please contact our Customer Support Unit on 1800 209 9960 for Car and Bike insurance claims. For Health, Travel, and Term insurance claims, please contact us on 1800 209 9970. Our advisors will help you with the entire claim amount settlement process.
You can also submit/register a claim request on the website in the claims section.
Get in touch with our Repairs and Claims Specialist today. Call our Toll-Free number 1800 209 9960 or email us at email@example.com. We are available from 9 am to 7 pm from Monday to Friday and 10 am to 6 pm on Saturday and Sunday.
Ask yourself the question, what is the need for buying a cover for your car if you cannot make a successful claim? You can only do it with the complete set of documents. There are different documents for a claim. Make sure that you have all of these documents ready before making a claim. Not even a single document can be left out.
In Case of Third Party,
In Case of Theft,
In Case of an Accident,
To help you buy, compare and renew car insurance online, we have created a list of the top car insurers in India with their ICR.
Incurred Claims Ratio in Percentage for Financial Year 2018-19
|NATIONAL INSURANCE CO. LTD.||125.50|
|NEW INDIA ASSURANCE CO. LTD.||87.54|
|ORIENTAL INSURANCE CO. LTD.||112.62|
|UNITED INDIA INSURANCE CO. LTD||120.79|
|ACKO GENERAL INSURANCE CO. LTD||129|
|BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.||62|
|BHARTI AXA GENERAL INSURANCE CO. LTD.||75|
|CHOLAMANDALAM MS GENERAL INSURANCE CO. LTD||84|
|DHFL GENERAL INSURANCE CO. LTD||29|
|EDELWEISS GENERAL INSURANCE CO. LTD||145|
|FUTURE GENERALI GENERAL INSURANCE CO. LTD.||69|
|HDFC ERGO GENERAL INSURANCE CO. LTD.||82|
|GO DIGIT GENERAL INSURANCE CO. LTD||76|
|ICICI LOMBARD GENERAL INSURANCE CO. LTD||74|
|IFFCO TOKIO GENERAL INSURANCE CO. LTD||87|
|KOTAK MAHINDRA GENERAL INSURANCE CO. LTD.||74|
|LIBERTY GENERAL INSURANCE CO. LTD.||70|
|MAGMA HDI GENERAL INSURANCE CO. LTD||65|
|RAHEJA QBE GENERAL INSURANCE CO. LTD||102|
|RELIANCE GENERAL INSURANCE CO. LTD||85|
|ROYAL SUNDARAM GENERAL INSURANCE CO. LTD||89|
|SBI GENERAL INSURANCE CO. LTD||87|
|SHRIRAM GENERAL INSURANCE CO. LTD||69|
|TATA AIG GENERAL INSURANCE CO. LTD||70|
|UNIVERSAL SOMPO GENERAL INSURANCE CO. LTD||88|