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What is Brand-New Car Insurance?
Higher IDV
Costly Parts & Repairs
Long-term Third-Party (TP) Cover
Dealer v/s Policybazaar Comparison
At the price of “3yr Third-Party + 1yr Own-Damage” plan from your dealer, you can buy “3yr Third-Party + 3yr Own-Damage plan” plan from Policybazaar & Save up to 20% on premium
Compare Price & Check Savings on Top Selling Cars
Types of Brand-New Car Insurance Plans
There are two types of new car insurance plans available in India:
- 3 Year Own Damage (OD) +3 Year TP
- 1 Year OD +3 Year TP
Got a New EV?
Coverage Under New Car Insurance
Accidents
A comprehensive car insurance policy covers damages or losses sustained by the insured brand-new car from road accidents and collisions.
Natural/Man-made Calamities
Covers damages to the insured vehicle from man-made disasters, such as terrorist attacks, & strikes.
In-transit Damages
Any in-transit damages or losses sustained by the insured vehicle.
Vehicle Theft
Brand new car insurance also covers partial or total loss of the vehicle in the event of theft or burglary up to its IDV.
Rodent Attacks
Any loss or damage to the insured vehicle due to animal attacks.
Without DL
A motor insurance policy will not cover any damage or loss to your brand new car if it is driven without a valid driving licence.
Wear & Tear
Usual wear & tear or any mechanical/electrical failure of the insured four-wheeler or its parts is also not covered.
Drunk Driving
Accidental damages to your brand new car if driven under the influence of alcohol/drugs or for unlawful purposes or race.
Outside Geographical Location
Loss or damage to the insured vehicle if driven outside the areas mentioned in policy terms.
War & Invasion
Brand-new car insurance also doesn't offer coverage for damages due to war-like events, military operations, or invasion.
Lock Price Now, Buy Later
Recommended Add-ons for Brand New Car Insurance
Zero Depreciation Cover
A zero depreciation add on provides new car owners with a full claim pay-out without factoring in the depreciation cost of the vehicle or its parts. It is a highly recommended add on cover for a brand new car since because of its high market value.
Return to Invoice Cover
With the Return to Invoice add-on, the insurance company provides you with the original invoice price of your car, including the ex-showroom cost, RTO, and registration charges.
No Claim Bonus (NCB) Protection Cover
An NCB Protection cover helps save you retain your NCB benefits even if you raise a claim during a policy year. You can purchase this add-on along with a comprehensive insurance policy.
Roadside Assistance Cover
The RSA in car insurance offers assistance in case of a car breakdown, covering services like towing, fuel delivery, flat tyre repairs, and lockouts minor repairs. Insurers do not count RSA coverage as a claim, thus, it does not affect your NCB.
Engine Protection Cover
With an Engine Protection cover, the insurer covers damages to your brand new car's engine or its parts and gearbox due to oil leakage or water ingression.
Consumables Cover
It includes the replacement costs of parts, such as nuts & bolts, lubes, greases, AC gas, screws, filters, etc.
Key Protect Cover
A Key and Lock Protect add on offers coverage in case of loss or damage to your car keys.
Daily Allowance Cover
Covers your transportation expenses if your car is being repaired in the garage for more than 3 days after an accident.
Personal Accident Cover
With the Compulsory Personal Accident (CPA) cover, the insurer provides compensation if the owner-driver of the insured car suffers injuries, permanent/partial disability or death in an accident.
Tyre Protection Cover
A Tyre Protection cover covers expenses related to repairing or replacement of tyres or tubes in the event of an accident.
Driver and Passenger Cover
It offers financial coverage for medical expenses (up to Rs. 2 Lakh) if the owner-driver or passengers in the insured car suffer accidental injuries.
How to Buy Insurance for Your Brand New Car?
Follow this simple and quick process to secure a brand new car insurance policy for your four-wheeler:
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Enter Vehicle Details
Visit the 'Brand New Car Insurance' page on Policybazaar.com and provide your car & contact details. -
Pick a plan (3+3 or 1+3)
Select the type of new car policy- 3-Year OD + 3-Year TP or 1-Year OD & 3-Year TP. -
Choose Add-on Covers
For a wider protection, opt for additional coverage options, such as zero dep, return to invoice, engine protection, etc. -
Pay & Receive Instantly
Review & pay the policy premium securely via UPI, cards, or net banking and get your brand new car insurance instantly at your email.
New Car Insurance Claim Process in 3 Easy Steps
You can follow these easy steps to raise a claim against your brand new car insurance:
Notify Your Insurer
Immediately after the accident, inform your insurer and raise a claim request.
Damage Assessment & Documentation
Provide the necessary documents to the surveyor and get your vehicle assessed for damages.
Repairs & Claim Pay-out
Get your vehicle repaired either at a cashless garage or visit a non-network workshop and get the claim amount reimbursed later.
Brand New vs Old Car Insurance Comparison
Here's how a new car insurance policy differs from that of an old car:
Documents Required for Filing New Car Insurance Claim
FAQs
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Q1. Can I drive a new car without insurance?
Ans: No. You must secure your new car with at least third party insurance to legally drive on Indian roads. Without a valid car insurance policy, you might have to pay hefty traffic fines or even face imprisonment. -
Q2. What type of insurance is best for a new car?
Ans: A comprehensive car insurance policy clubbed with add-on covers is the best option for a brand-new car. It ensures exhaustive financial and legal protection against own damages and third party liabilities. -
Q3. What is the new car insurance cost?
Ans: New car insurance prices depend on various factors, such as the make & model of the brand new car, engine or battery capacity, and type of coverage, area of car registration, etc. You can use an online car insurance calculator to determine the estimated premium price you need to pay for your new car. -
Q4. Why is new car insurance so expensive in India?
Ans: A new car has a significantly higher market value of a new car than a used or old model. Thus, with the higher value, the IDV is higher, which makes a brand new car insurance expensive. -
Q5. What is the validity of new car insurance?
Ans: According to IRDAI, you must have a new car insurance policy covering TP liabilities for three years. You can choose a bundled plan of 3-year OD + 3-year TP or 1-year OD + 3-year TP. -
Q6. Which insurance plan is compulsory for a new car?
Ans: Car owners must have a valid third-party insurance policy for a brand-new car to avoid any financial or legal consequences. -
Q7. How can I reduce my new car insurance premium?
Ans: To reduce new car insurance premium amount, you can compare multiple car insurance quotes online, choose a higher voluntary deductible, install an ARAI-approved anti-theft device, and maintain a claim-free record. -
Q8. Can I buy car insurance on EMI?
Ans: Yes. You can buy car insurance for your brand new four-wheeler online with easy EMIs on Policybazaar.com. -
Q9. Should I buy new car insurance online or offline?
Ans: Whether you should purchase new car insurance online or offline depends on your choice. However, when you buy it online, you can compare car insurance from multiple insurers, get discounts on premium prices, and secure a policy instantly since it has no paperwork involved. -
Q10. Is PA cover mandatory under new car insurance?
Ans: Yes. As per the motor laws of India, it is compulsory to have a Personal Accident (PA) cover when you buy new car insurance.
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#Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc
*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
+Savings are based on the maximum discount on own damage premium as offered by our insurer partners.
^Lowest Price Guaranteed is based on certifications shared by insurers with us. Policybazaar will facilitate price matching subject to the terms and conditions of select insurers.
##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.
