What is Car Insurance?
Car insurance (also known as auto or motor insurance) is done to protect your vehicle from unforeseen risks. It basically provides protection against the losses incurred as a result of unavoidable instances. It helps cover against theft, financial loss caused by accidents and any subsequent liabilities. The cover level of Car insurance can be the insured party, the insured vehicle and third parties (car and people). The premium of the insurance is dependent on certain parameters like value of the car, type of coverage, vehicle classification; voluntary excess etc. Car insurance gives confidence to drive peacefully. In emergencies it acts like a boon to the insurance holder.
With so many car insurance companies for customer base in the market, it is quite difficult to make a decision like choosing the right policy and insurer. Figuring out the right insurance policy, fulfilling the requirement and being cost effective can be time consuming. Many a times car insurance may seem complex but having it saves you spending a fortune later. At policybazaar you can compare car insurance quotes online and save up to 40% on your premium.
- Insured Declared Value (IDV)
- By Sajja Praveen Chowdhary -
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Updated: 18 January 2021 -
- 343380 Views
Insured Declared Value (IDV) Insured Declared Value (IDV) is the maximum Sum Assured fixed by the insurer which is provided on theft or total loss of vehicle. Basically, IDV is the current market value of the vehicle....
read more - Zero Depreciation Car Insurance
- By Sajja Praveen Chowdhary -
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Updated: 18 January 2021 -
- 324988 Views
Zero Depreciation Car Insurance In a zero depreciation policy the insured gets the total cost of the damage or loss that is caused to the insured car. The depreciation value of the replaced or damaged parts is usually...
read more - No Claim Bonus (NCB) in Car Insurance
- By Sajja Praveen Chowdhary -
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Updated: 18 January 2021 -
- 226824 Views
No Claim Bonus (NCB) in Car Insurance No Claim Bonus (NCB) is a reward, given by an insurer to a policyholder for making no claims during the policy term. No Claim Bonus can be accumulated as a discount on the premium...
read more - Transferring Car Insurance from One Person to Another
- By PolicyBazaar -
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Updated: 18 January 2021 -
- 220425 Views
Transferring Car Insurance from One Person to Another In the current economic climate that encourages consumers to “reduce, reuse and recycle”, it is becoming increasingly common for people to purchase second-hand...
read more - 9 Secrets That Your Motor Insurance Provider Won’t Tell You
- By PolicyBazaar -
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Updated: 10 June 2020 -
- 212155 Views
9 Secrets That Your Motor Insurance Provider Won’t Tell You Due to the dangerous driving conditions, it is compulsory to have third party insurance for every vehicle plying on Indian roads. It ensures the overall sa...
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