How to Compare Car Insurance Online?

Cars have become more of a necessity than a luxury today. Given the investment it entails, every car owner must purchase a car insurance policy to keep it financial covered. Besides, car insurance is mandatory under the motor laws of India.

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Why Should You Buy Car Insurance?

Buying a car involves a lot of money and nobody likes to lose their hard-earned savings. But when your car meets with an accident or faces an unforeseen event, it can get severely damaged. Moreover, it can also be fatal for the people seated inside or around the car. If your car damages someone’s else’s property or causes them injuries, you will be legally liable to compensate for their losses.

For the record, car accidents are a menace in India. As per a report by the Ministry of Road Transport & Highways, more than 4.8 lakh road accidents were reported in 2019 out of which 1,51,113 people have lost their lives.

Paying for your car damages or compensating third parties can cost you a fortune. The last thing you would want is to go bankrupt in paying off your third party liabilities, which could mean crores of rupees in certain cases. The only way to stay financially protected against any unforeseen emergencies involving your car is to buy car insurance. It covers the policyholder against third party liabilities and own damages to the insured car resulting from accidents, natural calamities, fire, theft or manmade disasters.

Benefits of Comparing Car Insurance Plans

Car insurance can be purchased instantly and conveniently online. It saves you the time and effort of visiting an insurance agent or nearest branch of the insurer and helps you to buy four wheeler insurance with minimal paperwork. But the biggest advantage of buying it online is to be able to compare different car insurance plans in India. Let’s go through the various benefits of comparing car insurance plans:

1. Choose the Right Coverage– When you compare car insurance plans, you can check the available coverage and IDV (insured declared value) for different plans. This can help you choose a plan that offers the right amount of coverage and IDV as per your requirements.

2. Get the Best Deal– Different car insurance plans are available for varying premium prices. By comparing plans by different insurers, you get to know the level of coverage available under the plans for the premium charged. Besides, you can also get to know about the various discounts available under various plans. As a result, you will be able to pick a car insurance plan that offers the required coverage for a pocket-friendly price.

3. Pick a Credible Insurer– The service benefits, claim settlement process and the claim settlement ratio of different motor insurance providers vary from one another. When you compare car insurance plans, you get to know which insurer provides more benefits, has an easy claim process and enjoys a high claim settlement ratio.

4. Make an Informed Decision–  One of the most important benefits of comparing car insurance plans is to make an informed decision while buying insurance for your four-wheeler. You get to know the pros and cons of each plan and can purchase the one that fulfils your needs in the best way.

How Can You Compare Car Insurance Online?

Car insurance plans in India can be compared easily at the website of Policybazaar Insurance Broker Private Limited. Take a look at the steps to compare car insurance plans online:

  • Visit the website of Policybazaar.com
  • Click on the icon of ‘car insurance’
  • Enter your car registration number or the other details of your car, such as the age of the car, make & model, fuel type, etc.
  • Provide your contact details, including your email id
  • Choose the type of coverage you want i.e. comprehensive or third party insurance cover
  • Car insurance plans from various motor insurance companies will be displayed
  • Compare the policies based on their coverage, IDV, premium, service benefits, etc.
  • Find the most suitable four wheeler insurance policy for your car

Once you have found the ideal plan for your car, you can pay the car insurance premium on the website to buy the policy instantly.

You can also visit the website of each motor insurance provider to check out their car insurance plan benefits, coverage and premium. However, this will be a time-taking and complicated process. Thus, comparing the plans on the insurance broker website is recommended as you can find all the details of car insurance plans from different motor insurers in one place.

Summing It Up

Car insurance must be purchased with utmost care as it acts as your safety deposit when a financial emergency involving your car arises. Comparing car insurance plans online can help you to find the best plan for your benefit. Make sure to compare and buy a car insurance policy online to avoid any hassles.

Written By: PolicyBazaar - Updated: 01 September 2021
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