BMW Car Insurance
BMW is one of the most popular luxury cars in India. This German car manufacturer is known for the opulence, technology and design of its cars. Buying a BMW car is no less than a dream come true. But with buying a car as grand as BMW, there also comes the responsibility of keeping it safe from all kinds of threats and dangers owing to its expensive price. Any potential harm to your BMW car can be dealt with ease with the help of BMW car insurance.
BMW car insurance is a motor insurance policy that protects a BMW car from all kinds of risks arising out of theft, accidents, manmade disasters, fire and natural disasters, such as earthquakes, cyclones, etc. It also protects the owner of the car from any sudden third party liabilities besides offering personal accident cover for him.
5 Best BMW Car Models (with Car Insurance Price)
Below is a list of the five best BMW car models along with their insurance prices:
|BMW Car Models(2019 Registration)||Estimated BMW Insurance Price(1-year Comprehensive Car Insurance)|
|BMW 3 Series||Rs 33,253 onwards|
|BMW 5 Series||Rs 30,776 onwards|
|BMW X3||Rs 23,048 onwards|
|BMW 7 Series||Rs 71,791 onwards|
|BMW X1||Rs 25,674 onwards|
Disclaimer: The BMW insurance quote for different car models may differ based on several factors, such as the model variants, registration year, claim history, RTO, fuel variant, etc.
Types of BMW Car Insurance
The best insurance for cars is available in two varieties. Take a look at both types of BMW insurance plans:
- Third Party BMW Car Insurance – It refers to the type of BMW insurance policy that only covers third party liabilities of the owner of the BMW car in case he causes bodily injuries, death or property damages to a third party during an accident. Some motor insurance companies may also provide personal accident cover for the owner-driver of the BMW car.
- Comprehensive BMW Car Insurance – It refers to the type of BMW insurance policy that offers own damage cover for the BMW car in addition to the third party BMW insurance cover. It protects the BMW car from any loss or damages due to accidents, theft, manmade disasters (such as riots, strikes, etc.), fire and natural disasters (such as floods, earthquakes, etc.). All comprehensive BMW insurance plans provide personal accident cover for the car’s owner-driver.
Reasons to Buy BMW Car Insurance Policy
Car insurance for your BMW car is crucial to keep it protected for any unpredictable risks and save you from any sudden financial loss. To have a better understanding, check out the following reasons for buying a car insurance policy.
- To protect your car from any unforeseen damages or losses due to the incidents of fire, theft, vandalism, accidents, etc.
- To provide financial assistance in case of third party legal liabilities
- To abide by the motor laws of India under which third party insurance is mandatory for all BMW car owners
- To recover the treatment cost incurred towards accidental injuries with the help of personal accident cover
- To avail cashless repairs at an approved garage of the insurance provider
- To get help from your insurance company using its customer support as soon as your BMW is damaged or destroyed
- To ensure extra protection for your BMW car with the help of add-on covers, such as emergency assistance, zero depreciation, return to invoice, engine protection, etc.
BMW Car Insurance Policy Inclusions
The following risks are covered under a BMW car insurance policy:
- Loss or Damage Protection - It covers any damages to or loss of your BMW car due to:
- Manmade Disasters, such as riots, terrorist attack, malicious act, etc.
- Fire and explosion
- Natural calamities, such as landslides, floods, earthquakes, etc.
- Third Party Liabilities - It protects against third party liabilities if your BMW car has caused accidental:
- Death of a third party person
- Bodily injuries to third party
- Third party property damages
- Personal Accident Cover - It provides compensation towards accidental death or disability of the owner-driver of the BMW car.
BMW car insurance offers a few optional covers that you can pick to ensure greater coverage for your BMW car. They are:
- Cover for bi-fuel kit for CNG/ LPG fitted in your BMW car
- Personal accident cover for passengers, paid drivers and employees using the BMW car
- Cover for electrical or non-electrical accessories of the BMW car
Add-On Covers Under BMW Car Insurance Policy
Every BMW car owner can expand his car insurance coverage by buying add-on covers at an extra premium amount. Take a look at some of the commonly available add-on covers under BMW car insurance policy:
- Engine Protection – It covers any non-accidental damage or loss to the engine of your BMW car.
- No Claim Bonus Protect – It keeps your No Claim Bonus intact despite making a claim in the previous policy year.
- Daily Conveyance Benefit – It provides a daily travelling allowance if your BMW car is getting repaired at an approved garage.
- Zero Depreciation – It does not consider depreciation while estimating the insured declared value (IDV) of your BMW car.
- Return to Invoice – It provides the invoice value of your BMW car as the IDV in case of total loss claims.
- Cost of Consumables – It covers the cost of consumables used in the BMW car, such as engine oil, nuts, washer, etc.
- Emergency Assistance – It provides emergency services, such as flat tyre change, car towing, etc. if your BMW car gets stuck on the road.
- Replacement Key – It enables you to get the replacement key of your BMW car if you lose the original one.
BMW Car Insurance Policy Exclusions
The following expenses or risks are excluded under a BMW insurance policy:
- Drunk driving the BMW car
- Wear and tear of the car
- Driving outside the geographical limit
- Consequential loss of the car
- Damages due to nuclear perils
- Depreciation in the value of the BMW car
- Damages due to war or related perils
- Electrical or mechanical breakdown of the car
- Damages while using BMW car for illegal purposes
- Driving without a valid driving license
- Loss or damages due to contributory negligence
How to Buy BMW Insurance Online?
As a car owner, you can easily buy BMW insurance online. Just follow the steps given below to purchase the best insurance for BMW car online:
- Go to the form on the top of the page
- Fill up the details of your BMW car, such as RTO, model, engine capacity, fuel type, etc.
- Provide your contact details including your name, email id, etc.
- Various car plans with BMW insurance quote will be shown
- Choose the best insurance for BMW car as per your needs
- Pay the BMW insurance price online via net banking or bank debit/ credit cards
- Your motor insurer will issue your BMW insurance online
How to Renew BMW Insurance Online?
Every BMW car insurance policy has an expiry date. The car owner should remember to renew his BMW insurance policy before that expiry date to continue protection for his car. Car insurance renewal can be done online by following the procedure given below:
- Go to the ‘Renewal’ tab on the menu bar
- Select ‘Motor Renewal’
- Enter the details of your BMW car, including model, RTO, registration year, etc.
- Provide your contact details and claim history
- BMW insurance quote from several insurers will be presented
- Select the best insurance for BMW car as per your choice or choose to go ahead with your existing insurer
- Pay the BMW insurance price online for the chosen policy
- Your BMW insurance renewal will be done
BMW Car Insurance Claim Procedure
The policyholder of a BMW insurance policy can file either a cashless claim or reimbursement claim. BMW cars repaired at approved garages are eligible for cashless claims, while those repaired at non-approved garages can only register reimbursement claims. Take a look at the claim procedure for BMW car insurance:
- Notify your insurer about the mishap as soon as possible
- The insurer may send a surveyor to estimate the damages to the car
- The survey report will be submitted to the insurer
- Send any required documents to your insurer
- Take your car to the garage for repairs
- If your car is being repaired at an approved garage, your insurer will pay the bill directly
- If your car is getting repaired at a non-approved garage, you will have to pay all the bills once the repair work is complete
- Take your repaired BMW car back home
- For making a reimbursement claim, send the repair bill and other required documents to the insurer
- The insurer will assess the documents and reimburse the claim amount to you
Documents Required by BMW Car Insurance Claims
A BMW car owner may be required to submit the following documents at the time of claim settlement:
- BMW car insurance claim form
- Registration Certificate (RC) of the BMW car
- Driving license of the car owner
- BMW insurance policy document
- Police FIR Copy (for third party and theft claims)
- BMW car repair bills
- Bill payment receipts
BMW Car Insurance FAQs
Ans: BMW is a high-end luxury car with expensive parts. As a result, repairing a BMW car or replacing it with a new one will require more money than regular lower-priced cars. Therefore, BMW car will be insured at a higher IDV which in turn will attract a higher BMW insurance price.
Ans: The BMW insurance price is calculated on the basis of the following factors:
- Age of your BMW car
- Type of insurance coverage
- Make & model of the BMW car
- IDV of your BMW car
- Claim history
- Location of the car
- Selected add-on covers
- Saving options
Ans: No. You can buy add-on cover from only that car insurer from whom you have purchased your BMW insurance policy.
Ans: Yes. You can renew your BMW insurance online despite expiry. All you need to do is follow the BMW insurance renewal procedure to renew it online.
Ans: You can reduce your BMW insurance price by following the tips given below:
- Compare various insurance plans online before selecting the best insurance for BMW car
- Have a good claim history that would increase your No Claim Bonus
- Opt for a higher voluntary deductible to get savings options
Latest News about BMW Car
BMW would recall 11,700 cars in order to fix their engine software. It was noticed that they have installed wrong programming on its 5 & 7Series models. During their internal tests, the German automaker noticed that a software update was assigned to specific unsuitable model-versions by mistake.
BMW officials stated that the affected models were 5 & 7 Series cars and they were made during 2012–2017. They have high-performance-oriented diesel engines, along with 3 turbochargers.
Although the officials didn’t issue a statement about the location of the cars, they have stated that they would cooperate with the concerned authorities.