Why Should You Buy Car Insurance in Mumbai?
Mumbai is the highest populous city in India. The roads in this city are crowded and driving a car in such traffic becomes more dangerous as there are more chances of accidents. Therefore, purchasing four-wheeler insurance to cover your car from such damages becomes an important task. Below mentioned are some reasons why you should buy car insurance in Mumbai:
- Crowded Roads: Due to the high population, the roads in Mumbai are very crowded and congested thus increasing the chances of mishappenings like third-party accidents. A third-party accident can also prove to be very expensive, as you may have to shell out huge money from your pocket. Therefore, it becomes necessary to at least own third-party car insurance in Mumbai.
- Heavy Traffic Penalties: Driving without a valid car insurance policy is a traffic rule violation as per the motor laws of India. Thus, if you are driving without a policy and get caught by the police, you may have to pay heavy traffic penalties.
- Mandatory Purchase: Purchasing a motor insurance policy has also been made compulsory under The Motor Vehicles Act, 1988. Thus, to legally ply on Indian roads, you must have a car insurance policy with you.
- High Risk of Theft: Mumbai is a Tier 1 city with a huge population and so the chances of your car being stolen are also very high. If you have a car insurance policy with you, the insurance company will cover any loss sustained by your car if it gets stolen.
Types of Car Insurance Policies in Mumbai
There are three major types of four-wheeler insurance policies that you can purchase in Mumbai. These include:
Third Party Car Insurance
A third party car insurance policy compensates for third-party damage arising out of the insured car. This policy covers death, disability and property damage of the third party. The compensation is unlimited in case of death, while for property damage, it’s limited to Rs. 7.5 lakh.
Standalone Own Damage Car Insurance
Under a standalone own damage car insurance policy, insurance companies compensate for any own damage sustained by the insured car due to unanticipated events like collisions, accidents, theft, fire, etc. This policy does not cover third-party liabilities and can only be purchased in addition to your third-party liabilities insurance policy.
For instance, if you already own third-party insurance and want to cover own damages as well, you can buy this policy.
Comprehensive Car Insurance
Offering wider coverage, a comprehensive car insurance policy protects a policyholder from third party damages and own damages sustained by the insured car. This policy offers compensation against damages arising out of unanticipated events like collisions, road accidents, theft, fire, calamities etc.
Furthermore, a comprehensive four-wheeler insurance policy can also be enhanced by purchasing add-ons at an extra premium amount.
Coverage Offered Under Car Insurance in Mumbai
When you purchase a motor insurance policy in Mumbai, you get the following coverage.
Damages that are covered under a comprehensive car insurance policy include:
- Third-party damages such as third party death, disability and property damage
- Damages arising out of natural calamities like earthquakes, hurricanes, slides, storms, etc
- Damages sustained by the insured car due to manmade acts like strikes, riots, terrorist acts, etc
- Any loss arising out of theft or burglary of the insured car is also covered under a car insurance policy
- Losses arising out of fire, self-ignition or explosion sustained by the insured four-wheeler
- Any in-transit damages sustained by the insured car are also covered
Losses that are not covered under a four-wheeler insurance policy include:
- Any damage sustained by the insured four-wheeler when the driver was not carrying a valid driving license
- Damages caused to the insured four-wheeler when the driver was under the influence of alcohol are also not covered
- Any damage sustained by the insured car outside the specified geographical location
- Damages caused to the insured vehicle when being used for commercial purposes
- The contractual liability of the owner/driver of the insured car is also not covered
- Electrical or mechanical breakdown sustained by the insured car is also not covered under the four-wheeler insurance policy.
How to Buy Car Insurance Online in Mumbai?
Buying car insurance online in Mumbai is a very simple process. All you need to do is visit Policybazaar.com and follow these steps:
- Visit the ‘Car Insurance’ page from the ‘Insurance Products’ dropdown
- Enter your car number in the given form or select any of the two options
- Select your car’s RTO in Mumbai, model, variant and registration year
- Fill in the given proposal form and proceed with car insurance quotes
- From the given four-wheeler insurance plans, choose the desired plans
- Select the additional cover you wish to add along with your policy
- Once you have selected the desired procedure and add-ons, proceed with premium payment
- Once your premium has been verified, you can pay it using online payment modes
- After payment, your car insurance policy documents will be instantly mailed to you.
Ans: You can find car insurance plans from the best car insurance companies in Mumbai on Policybazaar.com. Compare and choose the plan that suits your needs the best.
Ans: You can check car insurance premiums in Mumbai using the Car Insurance Premium Calculator. This online tool lets you calculate the premium of your car in just a few simple steps.
Ans: The cost of car insurance is not fixed as it is based on many factors such as geographical location, IDV, add-ons opted car’s engine capacity, and make, and model of the car. All these factors together determine the cost of your four-wheeler policy.
Ans: Yes, you can renew your car insurance in Mumbai easily from Policybazaar.com. Simply visit the car insurance page, enter your car number, compare car insurance renewal quotes and purchase it easily via online payment modes.
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