Guide to Finding Best Car Insurance Quotes

Getting the best car insurance quotes is of utmost importance when buying insurance for your four-wheeler. Thanks to digitalization, now you can easily choose the right car insurance plan online. To make this choice easier, read this guide to finding the best car insurance quotes.

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Above-mentioned prices are for a 7-year-old Maruti WAGON R AVANCE LXI (998 CC) registered in Gurgaon and 15 days before expiry of previous policy

What are Car Insurance Quotes?

If you are new to the motor insurance world, you must know about car insurance quotes. A car insurance quote is a cost estimate that an insurance company will give you after considering several factors related to your car, such as its make, model, add-ons, etc. This quote is the price you will pay for obtaining a motor insurance policy for the coverage and benefits that you want.

A four-wheeler insurance quote may differ from insurer to insurer. Therefore, it is recommended to research and compare car policy quotes online before buying one.

Major Factors that Determine a Car Insurance Quote

Let us now understand the factors that influence four-wheeler insurance quotes:

  • Geographical Location: The geographical location of your car is taken into account while calculating your car insurance quote. The insurer will charge a premium based on the location where your car is being registered and used. The premium will be higher in a traffic-prone area as compared to an area that has less traffic as the insurer’s liability reduces in such areas.
  • Type of Vehicle: Your car’s model, variant, as well as engine capacity, determines the motor insurance quote. If the car is expensive and of a higher cc, the insurance premium will increase and vice versa.
  • Coverage Required: The type of coverage you want for your four-wheeler also influences the cost of your car policy. If you are just purchasing the mandatory third party cover, your premium will be lower as compared to the purchase of comprehensive motor insurance.
  • Additional Covers: An additional cover helps you to protect your car against damages that are not covered in a standard motor insurance policy. An add-on cover can be bought by paying some extra premium over your existing premium. Thus, the more add-ons you add to your car plan, the more will be your motor insurance quote.
  • Insured Declared Value: Insured Declared Value or IDV refers to the manufacturer selling price of the car that you will receive during a total loss or theft of your car. Thus, a higher IDV increases the cost of a car policy and vice versa.
  • Safety Features: Your four-wheeler insurance quote also depends on the safety devices you have installed in your car. If you have installed an AAI approved anti-theft device in your vehicle, the insurer will quote a lower insurance premium for your car. Else, your motor insurance premium may be high.

How to Get the Best Four-Wheeler Insurance Quotes Online?

Now that you are well aware of the factors that can influence your four-wheeler insurance premium. Let us tell you how you can find the best car insurance quotes for your vehicle:

  1. Gather Required Information

    First and foremost, you must have all the details required to purchase a four-wheeler insurance policy. Thus, make sure to have these details handy with you:

    • Your car's make, model, variant, and purchase price.
    • Driver's driving history, license number
    • RTO and registration year of the car
    • The average distance covered per year.

    Once, you have this information, you will be ready to decide the type of coverage you want.

  2. Determine the Coverage

    Determining the coverage that you want is an essential step in getting the best car insurance policy for your four-wheeler. There are majorly two types of coverage offered in India, namely third party and comprehensive car insurance. While the first covers only third party damages but is mandated by law, the latter covers both own damages and third-party liabilities and is more expensive.

    Thus, you must determine the type of coverage you want for your four-wheeler before anything else.

  3. Choose Add-Ons Carefully

    As stated above, add-ons can help you enhance the coverage of your existing car policy. However, add-ons come with a price, and thus, you must choose them carefully. If you want an economical car insurance quote, make sure to only choose add-ons that your car actually needs. Purchasing all the add-ons will make your motor insurance policy expensive.

  4. Compare Quotes Before Purchase

    Before making a final purchase, make sure to compare car insurance quotes of multiple insurance companies on insurance aggregator websites like Policybazaar.com. By proper comparison of motor insurance plans as per pricing, coverage type, benefits, etc., you can make a wise purchasing decision.

  5. Purchase Car Insurance Online

    You can now purchase the desired car insurance policy by going ahead with the motor insurance quote that you find suitable after considering all the factors. You have the option to purchase a car policy offline or online. However, purchasing a motor insurance policy online after comparison can be convenient and hassle-free.

    Also, make sure to renew your vehicle insurance policy before the expiry date to avoid paying a higher premium after your existing car policy expires.

Wrapping Up!

Finding the right four-wheeler insurance quote that not only offers you all the coverage benefits but is also within your budget can be pretty difficult. However, when you are aware of all the determining factors, and compare motor insurance quotes online, you will get a fair idea of the motor insurance policy that you need to buy for your car.

Written By: PolicyBazaar - Updated: 11 May 2022
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