Which is the Hassle-free Method of Buying a Car Insurance Policy?

In India, it is compulsory to have at least a third-party car insurance policy for all car owners. Having the right cover protects your insured vehicle from several unforeseen liabilities and unwanted financial burdens. There are several ways to buy a car insurance policy. Read this article to find a hassle-free method to obtain a car insurance policy.

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New India Assurance

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  • Covers damages to third party property
  • Covers damages to third party person

Bajaj Allianz

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1024

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Third Party

Starting from

₹ 2,094

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  • Covers damages to third party property
  • Covers damages to third party person

Oriental Insurance

Cashless Garages

258

Plan type

Third Party

Starting from

₹ 2,094

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  • Covers damages to third party property
  • Covers damages to third party person

National Insurance

Cashless Garages

268

Plan type

Third Party

Starting from

₹ 2,094

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Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person

New India Assurance

Cashless Garages

253

Plan type

Third Party

Starting from

₹ 2,094

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Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person
See more plans

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

Which is a Hassle-free Mode of Purchasing a Car Insurance Policy?

With the advancement in technology, delivering insurance products and services has become easy. With an active internet connection and a smartphone, you can search, compare, and choose a plan that suits you the best. Therefore, buying online car insurance is the most convenient, time-saving, hassle-free process.

Benefits of Buying Online Car Insurance Policy

Buying online car insurance is the process of obtaining a policy through the internet via a website or a mobile app of an insurer. Here are the benefits of buying an online car insurance policy-

  1. Better Research, Better Deals

    You can easily find details about motor insurance policies and insurers by researching online. Several insurers are offering various plans on the internet. To make an informed decision, you can also visit the official website of the Policybazaar Insurance Brokers Private Limited, search online, and compare multiple plans on a single screen.

  2. Lower Premium

    Usually, car insurance policies offered by digital insurance providers are less expensive than those offered by any offline insurers. As you do not have to pay commission or agent fees to the agents or intermediaries.

  3. Easy Process

    You can easily buy an insurance policy via a website or an app without wasting your time. Moreover, it guarantees no paperwork, no agent commission, no form filling, and a hassle-free process. Hence, it is a really quick, simple, and affordable process.

  4. Excellent Customer Service

    If you ever get stuck while raising a claim or want some help while buying a car insurance policy, you can connect with the customer's support service and enjoy a seamless experience.

  5. Hassle-free Claim Settlement Process

    Claim settlement includes documentation submission, money transfer, and coordination problems. But if you opt for an online car insurance policy, you will get instant claim settlement, cashless claims, and a stress-free experience with your insurer.

How to Buy a Best Car Insurance Policy Online?

Several factors help in buying the best car insurance policy. Read on to find the tips to get the best car insurance online in India-

  1. Get Yourself Prepared Before Starting the Search

    Before starting the research, ensure you have the required details handy to get a correct quotation. Always remember the make, model, and variant of the car. Moreover, you must have information like the car's registration number and the vehicle's location. Always fill in all the relevant details correctly to get the best deal.

  2. Compare and Analyse Different Quotes

    Visit the official website of Policybazaar Insurance Brokers Private Limited to find the best policy which is enough to cover all the losses at affordable premiums. You may also include various add-on covers like engine protection, zero dep cover, no-claim bonus protection, consumables cover, etc.

    Before deciding on a particular add-on cover, you must consider some factors to get the best policy for your vehicle, including location, claim history, age of the car, usage of the car, etc.

  3. Choose the Adequate IDV

    IDV refers to the current market value of your car. However, it has nothing to do with the resale value of the car, and it directly affects the premium. It is simply the maximum amount that you will receive from your car insurer in case of the total loss to your car.

    If you choose higher IDV, your car insurance premium increases accordingly. However, opting for a lower IDV means inadequate coverage. Therefore, it is important to choose the right Insured Declared Value (IDV).

  4. Visit the Official Website of IRDAI

    The IRDAI (Insurance Regulatory and Development Authority of India) is an autonomous institute that is responsible for regulating all insurance companies. You must visit the official website of IRDAI to know the do's and don'ts while purchasing a policy. They also have a list of insurers, public notices, annual reports, press releases, penalties, insurance laws, etc. Therefore, it is essential to educate about the set rules and regulations set by the IRDAI and make an informed decision.

Final Thoughts

To enjoy a hassle-free experience, choose to buy a car insurance policy online. Moreover, you need to know your inclusions and exclusions to get an efficient deal. If you feel buying a policy online is stressful, you can skip it and choose to go with an agent or directly through the insurance website. But make sure you have at least third-party cover as it is a legal requirement.

Written By: PolicyBazaar - Updated: 28 June 2022
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