Hello Nafeez, thanks for writing in. Third-party car insurance, comprehensive insurance, and stand-alone insurance are the three categories of auto insurance policies that general insurance companies in India offer. You can select a car insurance policy based on your needs and financial constraints.

Third-Party Car Insurance Third-party or liability-only policy is mandatory for all car owners to drive on Indian roads. Compensation is provided for damages/injuries caused to a third-person

A comprehensive car insurance policy covers both third-party liabilities and own damages. Under this plan, the insured person can avail of cashless repair services at the network garages. Furthermore, the policyholder can enhance the policy coverage with add-on benefits or riders such as roadside assistance cover, zero depreciation cover, etc. by paying a nominal amount of extra premium.

A standalone own-damage car policy financially covers the accidental damages caused to the insured car. It can be purchased with an active third-party insurance policy.

The cost of car insurance is determined by several variables. Using an online car insurance calculator to determine the four-wheeler insurance premium is also simple. However, before determining the cost of auto insurance, the insurance provider takes into account the following factors:
1. The type of coverage you choose for your four-wheeler will determine the standard premium for your auto insurance.
2. Personal Accident Cover - Personal accident cover is provided in both third-party and comprehensive car insurance policies. The coverage limit is up to Rs. 15 lakhs and it can be purchased by paying a nominal extra premium.
3. The current market value of the vehicle is known as the Insured Declared Value, or IDV. During the policy term, it is the highest amount for which the policyholder may file a claim. The higher the car's value, the higher the IDV, and vice versa.

You can learn more about Car insurance Policies here