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Car Insurance

Car Insurance: Car insurance is mandatory so choose a plan wisely. You can now save money, get discounts and find the best deal through PolicyBazaar. Compare various plans and buy hassle-free.

  • Get best plans from top Insurance providers
  • Lowest premium guaranteed
  • Compare and buy instantly

Car Insurance or motor insurance covers for losses that you might incur if your car gets damaged or stolen. The premium amount of your car insurance is decided on the basis of Insured Declared Value or IDV of the vehicle. If you increase the IDV, the premium rises and if you lower it, the premium reduces. It is important for any policyholder to compare various auto insurance options before going for a car insurance renewal or buying a new policy.

 

Car Insurance Benefit

Key Benefits of Car Insurance

Car insurance plan offers following benefits:

  • Coverage against loss or damage to the insured vehicle.
  • Coverage against loss or damage to your vehicle caused by accident, theft, fire, explosion, self ignition, lightning, riots, strikes or act of terrorism, natural calamities.
  • Coverage against financial liability caused by injury/death of a third party or damage to the property.
  • Personal accident cover.

Why Car Insurance ComparisonWhy is it necessary to compare car insurance policies?

It is necessary to compare the car insurance policies as it can save a substantial amount of money and give you better coverage options. However, comparing the policies manually can be a daunting task. Policy Bazaar makes it fairly easy for you. When you compare quotes here you can save upto 55% on car insurance premiums along with getting add-ons like riders and benefits on your plan. Make an informed purchase. Compare online and know your car insurance plan properly before buying.

 

Online Car Insurance Coverage

Coverage under Car Insurance

There are primarily 3 types of car insurance -

Third Party Liability Coverage

Third Party car insurance provides cover against any legal liability to a third party caused when you are at-fault driver. It covers damage/injury caused by you to another person/property. A Third Party Liability cover is legally mandatory in India under the Motor Vehicles Act.

Collision Coverage

Collision coverage protects the insured financially against damage of their own car. It pays the insured for damage caused by collision which is usually an accident. Damage or loss due to theft or vandalism is not included in collision coverage.

Comprehensive Coverage

A comprehensive coverage is extensive and includes damage of car, theft of vehicle, third party legal liability and personal accident cover. The policy coverage can be further extended by opting for add-ons like accessories cover, engine protector, zero depreciation cover, medical expenses, etc. This type of coverage is the most popular as it offers end-to-end coverage and thus less stress for the policyholder.

 

Get More Info on Car Insurance Coverage

 

No Claim Bonus

No Claim Bonus

For every claim free year, the insured is rewarded with discount on the renewal premium. This discount is called - No Claim Bonus (NCB). It is cumulative and increases every year. It usually ranges from 10% to 50% and can save a substantial amount of money on your premium.

 

Read More About No Claim Bonus

 

Car Insurance Coverage

What is not covered in Car Insurance?

Following features are usually not covered in car insurance:

  • Loss or damage if a policy is not in force.
  • Gradual wear and tear of car and its parts.
  • Loss or damage to vehicle when driven by person without a valid driving license.
  • Loss or damage to vehicle as a result of intoxication due to drugs, alcohol etc.
  • Loss or damage to engine as a result of oil leakage.
  • Loss or damage to vehicle as a result of abuse of car manufacturer's guidelines.

Documents for car insurance

Eligibility/Documentation Required for Car Insurance

Getting a car insured requires minimal documentation. For a new policy, you must submit the filled up proposal form and copy of the Registration Certificate (RC). For renewals, you will need copy of the RC (Registration Certificate) along with the copy of previous insurance policy.

Carefully fill in your complete details. This is an important step and will save you a lot of hassle during claim time.

 

compare car insurance online

How to Compare Online on PolicyBazaar?

On PolicyBazaar you have to fill a few simple details like make of the car, model, variant, year of manufacture, etc. You will then get quotes from various insurance providers. To get better discounts you must fill the form carefully. This way you will get customized quotes, one which saves money (upto 55%) on premiums and is also the best fit as per your needs.

You must be familiar with the following terms while filling the form:

Car Make, Model and Variant

This information is critical to calculate base premium. Luxurious, powerful and expensive car will attract more premiums. For e.g. a SUV car will always have a higher premium than a family car.

Year of Manufacture

The manufacture year of your car lets the insurance company assess its Insured Declared Value (IDV) that facilitates the underwriter to decide the annual premium for your car.

CNG Fitted Car

Being more vulnerable to combustion, a CNG fitted car is usually insured at a slightly higher premium than a plain petrol/diesel car.

Additional Covers

You need to mention whether you do or do not want to get a cover on electrical and non-electrical accessories fitted in your car. Most insurers provide a cover for your car accessories at an additional premium of 4% on its value.

 

Buy Four Wheeler Insurance

Process Steps for Acquiring a New Four Wheeler Insurance Policy:

Step 1: Log in to www.policybazaar.com and click on the product icon.

Step 2: If you want a fresh comparison of four wheeler insurance plans, click on ‘Begin your comparison’. In case you have searched before, you can retrieve your previous searches and continue from where you left off by clicking on ‘Get previous searches’.

Step 3: Before you start the comparison, keep a few details handy such as the city of your car’s registration, make and model, fuel type, and the car’s variant.

Step 4: To get new insurance quotes, key in all the above-mentioned details in the form and click on the ‘Next’ button.

Step 5: On the next page, fill in your personal information such as your full name, email address, and mobile number. Click on ‘View Quotes’ to proceed.

Step 6: In the quotes section, you’ll have a list of different auto insurers with discounted price, add-ons, and final price. You can view each plan details and compare it with other plans well.

Step 7: To get a discount on the premium, click on the ‘Get Discount’ button on the left side of the page. After clicking the button, a form will appear where you have to fill in your details. After completing the form, click on ‘Apply Discount’.

Step 8: Click on ‘Select add-ons’ to tick the list of added extras in your car such as 24*7 roadside assistance, No claim Bonus (NCB) protector, engine protector, key and lock replacement, and consumables.

Step 9: If you want to include passengers under the plan, click on ‘Passenger/driver cover’.

Step 10: To find the nearby motor garage, click on the ‘Garage locator’ on the bottom left of the page.

Fill in these details carefully then sit back and relax for a while. You will be presented with a list of insurance plans that suits your requirement at best possible rates.

 

Discount on Car Insurance

Get Discounts, Save Money, Buy Smart

A smart customer is in a constant hunt for discounts which will reduce the burden on his pocket. If you are one among them then here are a few tips that will help you get discount and save money on premium value of your car insurance.

Voluntary Access

Voluntary deductible is the minimum amount that you declare to bear at the time of claim. The higher deductible you opt for, the lower will be your premium. Simply put it means that the financial burden on the insurance provider is less and you will also chip in when an accident or car damage happens.

 

Car Theft Insurance

Anti-theft Discount

In case your car is fitted with an ARAI approved anti theft device, your insurer will offer additional discount (2.5% on the OD Premium). This discount is provided for the simple reason that an anti-theft device will make your car less liable to theft.

Privilege Membership

Members of the Automobile Association and some Professionals (Defense Personnel, Doctors and Govt. Employees) are entitled to get additional discount on their premium. So, never miss out to mention the same while searching for a quote.

While getting quotes for your vehicle at Policy Bazaar, you might see for yourself how changing even minor details make a huge difference to the final calculated premium. For example, take the case of Dr. Gupta. He's a doctor by profession and needs car insurance for his brand new Renault Duster. His car is fitted with an ARAI approved anti-theft kit. While getting a car insurance quote, he neither mentions his profession nor the fact that his car is fitted with an anti-theft kit. Thus he ends up paying a higher premium. On the contrary, if he did mention about these then, needless to say, his premium could have been lower by 25%.

Always fill in your correct and complete details while getting comparative Quotes from Policy Bazaar.

Buy and compare car insurance quotes online easily here at PolicyBazaar. Whether you want to buy a new policy for your car or renew your policy, get it right here in a few clicks.

Looking for car insurance comparison? PolicyBazaar provides you an innovative interface to compare car insurance policies by best car insurers in India. Check out details on each insurer and select the one that suits your needs.

InsurerThird Party CoverCashless Network GaragesAdd On CoversSpecial FeaturesExceptions
Bajaj Allianz car InsuranceUpto 7.5L for third party property damage4000 and more
  • Default: Roadside Assistance plan (RSA)*
  • Key & Lock replacement
  • Optional: Zero Depreciation (ZD)
  • Engine Protector
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • RSA and Lock & Key included in all policies by default
  • Instant Policy Issuance
  • Receive Instant Claims Assistance and SMS updates on your motor claim status through 24x7 call-centers.
  • RSA cover available for vehicles upto 15 years old
  • Lock & Key cover available for vehicles upto 10 years old
  • ZD and Engine Protector available till 5 years old
Bharti AXA Car PlanUpto 7.5L for third party property damage2300 and more
  • Zero Depreciation (ZD)
  • Roadside Assistance plan (RSA)
  • Consumables
  • NCB Protector
  • Hydrostatic Lock Cover
  • Invoice Cover
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • Receive Instant Claims Assistance updates on your motor claim status through 24x7 call-centers.
  • ZD and RSA plans available for vehicles upto 5 years old
  • Consumables, NCB Protector and Invoice Cover for upto 2 years old vehicles
HDFC Ergo Car Insurance PlanUpto 7.5L for third party property damage3000 and more
  • Zero Depreciation (ZD)
  • Roadside Assistance plan (RSA)
  • Engine Protector
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • Unlimited claims for ZD plan in a year!
  • Occupation and Age discounts available
  • Comprehensive support through our dedicated customer support team
  • ZD plan available for vehicles upto 5 years old; require previous insurance also to have ZD Engine Protector is available for vehicles upto 2 years old
Future Generali Car Insurance PlanUpto 7.5L for third party property damage1000 and more
  • Zero Depreciation (ZD)
  • Roadside Assistance plan (RSA)
  • Key & Lock Replacement
  • Loss of Personal Belonging
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • Laptop and Mobile phone theft is covered with Loss Of Personal Belongings cover!
  • Add on covers available for vehicles upto 5 years old
IFFCO Tokio Car Insurance PlansUpto 7.5L for third party property damage2000 and more
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • Large fleet of trained in-house Surveyors utilized for immediate attending to claims.
  • Usage of online e-survey claims module by both in-house and external Surveyors, for lowest TAT in claim settlement.
  • Usage of online e-survey claims module by both in-house and external Surveyors, for lowest TAT in claim settlement.
 
L&T Car PlansUpto 7.5L for third party property damage2000 and more
  • Zero Depreciation (ZD)
  • NCB Protector
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • No inpection required for expired policies#
  • Survey within 4 working hours of claim intimation if the vehicle has reached a workshop
  • Upto 56 days from policy expiry
Liberty Videocon Car InsuranceUpto 7.5L for third party property damage1900 and more
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • Claim settlement within 7 working days.
  • Swift telephonic service for effective claims support & assistance even on Sundays & holidays
 
New India Assurance Car InsuranceUpto 7.5L for third party property damageYour local branch will help you with claim settlement
  • Zero Depreciation (ZD)
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • Swift claim settlement process
 
Reliance General Car InsuranceUpto 7.5L for third party property damage2300 and more
  • Zero Depreciation (ZD)
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • RSA plan included in all policies by default
  • Avail 24x7 instant roadside assistance through Anywhere Assist App
  • Quick and hassle-free settlement for your motor insurance claims
  • RSA plan available for vehicle upto 3 years old
Royal Sundaram Car InsuranceUpto 7.5L for third party property damage3300 and more
  • Zero Depreciation (ZD)
  • Roadside Assistance plan (RSA)
  • NCB Protector
  • Windshield Cover
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • RSA plan included in all policies by default
  • Instant Policy Issuance
  • Speedy authorization of repairs to get the car back on road quickly.
  • NCB Protector cover given to new cars or old cars with at least 20% NCB
  • Add ons available for cars upto 3 years old
  • ZD claims can be taken 4 times in a year
Tata AIG Car InsuranceUpto 7.5L for third party property damage1500 and more
  • Zero Depreciation (ZD)
  • Roadside Assistance plan (RSA)
  • Key & Lock replacement
  • Loss of Personal Belonging
  • Hotel & Travel
  • Expenses PA for Passenger
  • Electrical and Non Electrical Accessories
  • Hotel & Travel Expenses covered in case of breakdown/accident
  • Laptop and Mobile phone theft is covered with Loss Of Personal Belongings cover!
  • ZD is available for cars upto 5 years old
Universal Sompo Car InsuranceUpto 7.5L for third party property damage1100 and more
  • Zero Depreciation (ZD)
  • Roadside Assistance plan (RSA)
  • PA for Passenger
  • Electrical and Non Electrical Accessories
  • Instant Policy Issuance
  • Quick and hassle-free settlement for your motor insurance claims
 

In Tata AIG, to avail benefits of ‘Emergency transport and hotel’, will there be any territorial scope or can I avail benefits around the country to reach my place of residence?

Ans:

You will be reimbursed for transportation expenses up to your residence in the same city. In any other place in India, if your vehicle becomes immobile, you will get overnight hotel expenses and reimbursement for vehicle being towed to the nearest garage.

What is survey time of Reliance to inspect the damaged car?

Ans:

Reliance will take maximum 48 hours inspect the damaged car.

Can I buy L&T insurance for 2005 model Santro?

Ans:

No, L&T comprehensive plan doesn’t offer coverage to cars above 7 years of age.

Is taxi and accommodation benefit offered in car insurance if my vehicle gets immobilized?

Ans:

Yes, insurance companies are offering free accommodation and taxi travel, limiting the number of kilometers, from the breakdown location. For instance, insurance company can have a policy of providing free taxi and accommodation up to 50kms from the breakdown location. Check policy wordings to know more about this benefit.

If I fit CNG or LPG kit in my vehicle, whom do I need to inform?

Ans:

You need to declare it in your insurance paper at the time of buying a policy because CNG or LPG kit will be insured separately. However, if it is fitted in your car after the policy issuance then you need to inform the insurance company and submit copy of your updated RC certificate.

Are there any discounts that will lower my premium?

Ans:

Discounts offered by insurance company on your premium would depend on your claim history as well as other factors. Some of the popular discounts offered by insurance companies are-

  • No claim bonus= If you have not made any claim on your insurance during the policy term then insurance company will offer you discount, called no claim bonus at the time of renewal. Insurance companies reward policyholders for not making claims by providing discount on the own damage part of the premium up to maximum of 50%.
  • Memberships= Concessions are available if a policyholder becomes a member of recognized automobile associations, like Automobile Association of Upper India, Automobile Association of Eastern India, Western India Automobile Association and Automobile Association of Southern India.
  • Installation of safety devices- With vehicles being vulnerable to theft, installing anti-theft and safety devices in your vehicle is strongly advised. Insurance companies also encourage people to install anti-theft devices in their vehicle. Taking one step ahead, insurers are offering discounts to people who have installed anti theft and safety devices approved by the Automotive Research Association of India.
  • Voluntary deductible= You get discounts if you opt for voluntary excess. It means you give your consent to bear a certain portion of loss at the time of claim. For instance, you had an accident and total claim amount is Rs 20,000. You choose to pay Rs 10,000 of your claim and this amount is called voluntary deductible.
  • Loyalty discount= If you are renewing your policy with the same insurer then you may get loyalty discount.
  • Occupational discount= It is strongly recommended to give details of your profession at the time of filling the insurance form because there are various companies which are offering professional discounts. You may be entitled to get 5-8% discount on premium if you belong to any of the following profession-
  1. A fully qualified chartered accountant
  2. Serving in defense and paramilitary services
  3. Teaching in government recognized school, universities and educational institutes
  4. Employees of central/state government departments
  5. Qualified doctors who are registered with the government recognized medical council
  • Marital status= Nowadays, insurance companies are giving discounts to a policyholder if he/she is married. Insurers consider married policyholders more responsible drivers and are perceived to take good care of the vehicle.

Fuel type= Diesel cars may have become popular due to low fuel cost but buying insurance for them prove to be a costly affair. Vehicles using petrol attract low premiums as compared to diesel or CNG cars.

What is IDV?

Ans:

IDV of insured declared value is the maximum amount to be paid by an insurer at the time of a claim if the vehicle gets stolen or lost. It is the sum insured which is fixed at the commencement of the policy issuance.

How is the premium computed for a car?

Ans:

For premium calculation, insurance company considers following factors-

  • Insured Declared Value= It is the maximum amount which an insurance company will pay at the time of claim. It is sum assured and is decided on the inception of the policy. IDV is arrived on the basis of manufacturer’s listed selling price of the brand, model and then adjusted as per the standard depreciation rates. The depreciation rate keeps on increasing with the age of the car. A new car will fetch maximum IDV but as the vehicle turns old, depreciation rate keeps on rising. If accessories like music system or speakers are additionally fitted in your car then price of these items are also added to the IDV. If you are getting insurance for a vehicle that is more than 5 years old, then IDV is calculated on the basis of an undertaking between insurer and insured after adjusting depreciation rate. It is important to note, IDV is calculated only for a comprehensive insurance policy and not for a third party insurance cover.
  • CC (Cubic Capacity)= Every vehicle has an engine size, which is measured as per the cubic capacity. The size of the engine plays a role in deciding premium amount that you have to pay for a third party insurance cover. Premium would be same both in new and old vehicles because it is calculated on the size of an engine and not on the basis of its age. Engine capacity is not the criteria used for calculating premium rates for a comprehensive cover. You can find out cc of your vehicle’s engine from its registration paper.
  • Geographical zone= According to India Motor Tariff, India is divided into two parts-

Zone A=It includes cities like Delhi, Mumbai, Ahmedabad, Kolkata and Chennai

Zone B= It covers rest of the country

Premium rates are high in cities falling under Zone A as compared to Zone B.

Besides above factors, premium rates are also subject to certain deductions based on the age, occupation of the insured, RTO location, fuel type, make & model of the vehicle and no claim bonus earned. In case you want extended coverage for personal accident, electrical/non electrical accessories, etc; you may have to pay an additional premium.

What information I need to fill to buy car insurance online?

Ans:

When you buy online, there is no documentation required to do. However, we advise you to keep the previous insurance policy and RC handy at the time of buying insurance.

What are the different types of car insurance policies available in market?

Ans:

There are mainly two types of auto insurance policies available in market-

  • Liability Only Cover= It insured your vehicle against legal liability for death, disability or damage caused to the third party property. It doesn’t offer any coverage to damages caused to your vehicle. Also known as ‘act only’ cover, it is a statutory requirement under the Motor Vehicle Act to buy this insurance policy.
  • Comprehensive Policy= It covers third party insurance and also indemnifies policyholder against loss/damage caused to the own vehicle.

 In addition, customer can opt for various add ons such as Zero Depreciation, NCB Protection, Road Side Assistance, Engine Protection, Invoice Cover, Consumables etc.

Can you please tell me how I can buy insurance for my second hand car if RC and insurance policy is in previous owner’s name?

Ans:

You can buy insurance for your second hand car by submitting sell letter (Form 29 & Form 30) and previous owner’s policy details.

What documents are required to get the expired policy renewed? What is the procedure?

Ans:

A customer must send the scanned copy of RC of the car along with his policy papers. If you are unable to send scanned papers then you can click photographs of these papers and mail it to the insurance company. A payment has to be made either via electronic mode like credit/debit card or cheque. Thereafter insurance company conducts inspection of vehicle in next 24-48 hours. If the inspection is successful, then soft copy of the renewed policy would be issued in next 2 or 3 working days. Incase inspection is not successful, the amount which a customer had paid earlier, will be refunded within 7-15 working days.

Can I get ‘return to invoice policy’ of Bharti Axa for my 3 year old car?

Ans:

We are sorry but you cannot get ‘return to invoice policy’ because it is available only up to 2 years of car age.

If I am buying a new car, how do I transfer my existing policy cover to the new vehicle?

Ans:

If you are buying a new car and want to transfer your existing policy then you would need to contact your insurance company and submit necessary documents like sale letter of old car, third party insurance paper for old car, NCB document (if applicable) etc. There may be variation in premium rates and change in underwriting criteria for new vehicle.

What happens to my insurance when I sell my car?

Ans:

When you sell your car, you have two options regarding car insurance:

  • Buyer can get the insurance policy transferred in his name by informing the insurance company who will make an endorsement in this regard. However, NCB on the policy is non-transferrable. It will be retain by the seller which he/she can use at the time of buying another insurance policy. It is important to inform the insurance company within 14 days from the date of ownership transfer failing which no claim will be paid for own damage to the vehicle.
  • You can cancel your insurance policy and buyer will buy a fresh policy. You will get the refund for the remaining period, provided there is no claim. In this case too, you can retain NCB and transfer it to your new insurance policy if you have bought another vehicle. Please note insurance company will cancel your policy only if you will submit necessary documents regarding ownership transfer. Also, you can transfer your existing policy to your new vehicle and unpaid premium will be adjusted accordingly by insurer.

In case a customer wants to buy Tata AIG Pearl plan, does he need to make payment before inspection?

Ans:

Yes, it is required to make payment before inspection. After receiving all payment details, Tata AIG would contact the customer to fix the schedule of car inspection.

Does Tata AIG offer six months accidental repair warranty in Secure and Pearl plans?

Ans:

Yes Tata AIG is providing six months accidental repair warranty in both Secure and Pearl plans.

Is there any inspection required at the time of renewal if CNG is already covered in my current policy?

Ans:

If it is covered in your current policy then no inspection is required at the time of renewal.

What are green channels settlements offered by Tata AIG?

Ans:

These are Tata AIG tie up garages where you can avail accidental repair warranty with cashless benefits. Tata AIG has given ‘green channel settlements’ name to its cashless garages.

Is there any NCB protection benefit available in Tata AIG?

Ans:

Yes, there is a NCB protection benefit available in Tata AIG. If you get plastic, rubber or fiber part repaired at Tata authorized center, it will not affect your NCB. Tata AIG provides protection for NCB up to 1 claim for repair of rubber, plastic, glass part or fiber.

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