How To Buy New Car Insurance Policy In India?

Car Insurance Plans Available for a New Car in India

If you have just purchased a new car or are planning to purchase one, then you must be well aware of the type of four-wheeler insurance plans for new cars. Moreover, purchasing a car policy is compulsory in India, so you must buy one before you land into any financial or legal trouble.

Here are two major types of brand-new car insurance plans available in India:

Third-Party Car Insurance

A third party car insurance is a mandatory cover for every new car plying on the roads of India. This policy covers damages sustained by third parties due to the insured car. These damages include third-party death, disability and property damages. The premium for third-party liability insurance is less but it does not cover own damages sustained by the car.

However, you can include your own damages by purchasing a Standalone OD cover bundled with your third-party plan.

Comprehensive Car Insurance

A comprehensive car insurance cover is not compulsory but can be beneficial for new cars. This policy covers both third-party damages and any own damage to the insured car arising out of unforeseen events like accidents, calamities, theft, fire, etc.

When it comes to providing overall protection to your new car, it is best to purchase a comprehensive four-wheeler insurance policy.

How to Buy a New Car Insurance Plan Online?

Now that you know the types of new car insurance policies, here is an easy method to purchase a new car insurance plan on Policybazaar.com:

• Visit the official website of Policybazaar Insurance Brokers Private Limited (Policybazaar.com)
• Select the ‘Car Insurance’ page from the ‘Insurance Products’ dropdown
• On the given form, enter your new car number or select the option ‘Brand New Car’
• Now select your car details such as make, model, variant, fuel type, RTO and registration year of your car
• Now fill out the registration form and proceed to view four-wheeler insurance quotes
• From the mentioned car insurance plans, choose the plan that you find most suitable for your car. You can also view details of your plan from the ‘Policy Details’ option
• Select the desired add-on cover from the ‘Addon and Accessories’ box
• Once you have selected your plan along with respective add-ons, proceed with the premium payment option
• Pay the premium amount via desired online payment mode
• Soon after your payment is complete, you will receive your new car insurance policy documents instantly on your mail id.

Benefits of Purchasing New Car Insurance Online

Buying new car insurance online has a number of advantages over the offline purchase mode. Here is why you should buy new car insurance online:

• Wide Comparison: When you purchase motor insurance online, you can compare plans of multiple insurers based on coverage, add-ons, premium, etc.
• Zero Paperwork: One of the biggest benefits of purchasing new motor insurance online is zero paperwork. You do not need to fill out any forms or documents or do any paperwork that can be a cumbersome process. With online purchases, you can simply purchase a policy without any paperwork and in the comforts of your home.
• Additional Discount: While buying car insurance online, you can also take advantage of additional discounts offered by insurance companies. Some of these discounts include NCB discounts, anti-theft discounts, deductibles, etc.
• No Agents Involved: When you buy four-wheeler insurance online, you eliminate any agents who charge a commission from you on policy purchases. You can simply compare and purchase a plan of your choice online without consulting any agent.
• Easy Purchase Process: Online purchase is a very easy and simple process. You can buy a four-wheeler insurance policy online in less than 5 minutes without having to physically meet your insurance agent or pay him/her any commission.

Wrapping Up!

A new car insurance policy is not only mandatory but also essential to protect your car from multiple unforeseen damages. Without a car insurance policy for your brand-new car, you may have to pay huge expenses from your pocket in case it meets with an accident. You can simply compare car insurance plans from the best car insurance companies in India on Policybazaar.com and choose the most suitable one for your newly purchased possession.