Car Insurance Benefits

The answer is simple. Car Insurance is mandatory by law. Driving around without valid car insurance is illegal in India. In case of death or bodily injury to a third party or any damage to its car, the car insurance policy provides compensation of up to Rs 1 lakh. Such type of vehicle insurance is known as the third party insurance and it protects not only you but also other people or family members who may be riding / driving you car.

Stay home & renew car insurance in 2 minutes

No documents required

Get Car Insurance starting at only
₹2072/year^*

Enter your car number

Processing

Other options

Get Car Insurance starting
@ only 2072/year^*

Save up to 85%* Lowest Car Premiums
20+ Insurers To Choose From
51 Lakh+ vehicles insured

*TP price for less than 1000 CC cars. All savings are provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.

Comprehensive car insurance protects your car from any man made or natural calamities like terrorist attacks, theft, riots, earth quake, cyclone, hurricane etc in addition to third party’s claims/damages. At times car insurance can be confusing and difficult to understand. There are certain guidelines that should be followed by the Car Insurance buyers while choosing the policy. Car insurance acts like a great friend at the time of crisis. It covers the losses made in an accident and thus saves you from paying out the huge sum from your pocket.

Benefits of Car Insurance:

All the states in India require a minimum amount of insurance. Car insurance can help offset the loss of huge sum in the following manner:
Provides benefits to survivors when an accident results in death.
It covers lawsuits, including legal fees brought against you as the result of an accident.
Covers the bills of vehicle repairs due to damage caused in an accident.
Covers damage caused by other than an accident for example, theft, fire, etc.
Additional discounts: Car insurance policies allow premium discounts for theft or for owning more than one policy with the same insurer. It also provides added advantage to extend coverage to others driving your car with your permission.
No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus is offered on renewals provided you fulfill certain terms and conditions

Written By: PolicyBazaar - Updated: 26 June 2021

You May Also Like

Transferring Car Insurance from One Person to Another

By PolicyBazaar
-
Updated: 28 October 2021
-
266701 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
-
Updated: 29 July 2021
-
216497 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 saf...
read more
Money Saving Advice for All Car Owners

By PolicyBazaar
-
Updated: 27 August 2021
-
201872 Views

Money Saving Advice for All Car Owners After a dream home, a dream car is your second-largest purchase that you make in your lifetime. But the expense does not cease when you drive off the car dealer's lot. Read mor...
read more
Difference Between Comprehensive Insurance and Third Party Insurance

By PolicyBazaar
-
Updated: 26 October 2021
-
166950 Views

Difference Between Comprehensive Insurance and Third Party Insurance Comprehensive insurance is insurance coverage that pays for the repair or replacement of vehicle damages resulting from an incident. Comprehensive ca...
read more
Types of Motor Insurance

By PolicyBazaar
-
Updated: 26 June 2021
-
120988 Views

Types of Motor Insurance The word Motor broadly covers a lot of classes of vehicles plying on the roads. These may be two-wheelers like scooters and motorbikes, three-wheelers or four wheelers like private cars, jeeps, ...
read more