Car Insurance: Buy or Renew Car Insurance Policy Online/ Car Insurance >
<s.r>What is car insurance?
Car insurance is a vehicle policy to save itself from the financial loss suffered by unexpected risks like accidents, theft or third party liabilities. It is also known as auto or motor insurance. According to the Motor Vehicles Act, 1988 in India, motor car insurance is compulsory. You can take advantage of Four Wheeler Insurance to get cover for you (insured party), your car (insured vehicle) and third party (other vehicles and their property).You can renew or purchase car insurance for new as well as pre-owned cars. The validity of the car insurance policy is one year, which means that you must renew it annually before termination. Car owners have to pay a car insurance company to buy a policy. You can claim the policy amount as a reimbursement to the car insurance company to cover the costs of accidents or losses that occur later.
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The main benefits of car insurance
Most people think of four wheeler insurance as an expense. On the contrary, it should be considered as an intelligent investment due to the following major benefits:Car Insurance: Buy or Renew Car Insurance Policy Online/ Car Insurance
1> Coverage against
2>Damage or damage to your car against accidents
3>Damage or loss due to man-made disasters such as theft, fire and riots.
4> Damage or loss due to natural disasters like floods, earthquakes and storms
5> Loss or damage to the owner-driver's life
6>Financial and legal liability arising due to death, bodily injury or loss / damage to property owned by third party
7> Repair of vehicles in case of damage due to accident, repair of vehicles.
The survivors benefit in the event of death due to the accident.
In case of loss and damage due to unfortunate incidents related to your car, avoid the avoidance of personal savings. Today, some savings can save you big financial problems tomorrow!
Savings in garages and finding settlement of slums can be tedious and stressful after accidents.
To provide life coverage for co-passengers, availability of add-on cover, meeting medical expenses and hospital expenses, covering expenses of lost and stolen places, counter depreciation and more..Car Insurance: Buy or Renew Car Insurance Policy Online/ Car Insurance
Most important to note, car insurance is mandatory by law in India
Types of Car Insurance Plans
This is a minimum and mandatory four-wheeler insurance cover that you need to take in India according to the Motor Law. This type of insurance policy provides coverage in respect of third party property damage, injuries, disability or death such as pedestrians and drivers of other vehicles as well as living people. However, this type of insurance only protects your interests, not the third party.
Third party liability plans:
inclusions
Compensation for bodily injury to third party due to accident caused by your car.
Compensation for the loss of property due to the accident caused by your car. This property can be a car or any other property of third party.
Compensation to the survivors in the case of death of third party due to accident by your car.
Exclusion
Compensation for your injury or loss of property.
IRDAI (Insurance Regulatory and Development Authority of India) revises rates for third party coverage each year.
According to the recent guidelines by the Insurance Regulatory and Development Authority of India, all insurers have been instructed to offer three-year third party loyalty to the new four-wheelers. Therefore, the policy for the new four wheeler vehicle will cover the TP premium for 3 years
By June 16, 2019, third-party insurance premium rates are outlined below
Engine capacity for renewal of existing vehicle TP Premium (annual) * TP premium for new vehicle (3 year policy)
Less than 1,000cc 2,072 5286
Less than 1,000cc but less than Rs. 1,500cc Rs 3,221 9534
More than 1,500cc 7,890 24,305
Note: Compensation of damage to third-party property is Rs. 7.5 lakhs In the case of injuries / death, the court will decide on the tribunal payment.
Broad cover
Car Insurance: Buy or Renew Car Insurance Policy Online/ Car Insurance
This insurance policy protects you, your car and third party from all possible risks. It covers natural disasters like floods, earthquakes, landslides and storms, and man-made disasters such as theft, riot and attack. Given the coverage of all types offering a wide cover under an umbrella, this type of four-wheeler insurance policy is ideally recommended for all cars.
*** In the third-party liability and comprehensive cover plan, there is a compulsory personal accident cover with a premium of Rs 50 per year for the owner-driver, for which the owner-driver is liable to get the sum insured of Rs 15 lakh. matter:
Type of injury compensation level
100% death
Loss of two limbs or sight of two eyes or one limb and sight of one eye. 100%
Loss of one limb or sight of an eye 50%
Total Disability Standing Total Disability
@>Invoice price cover :
When you make a claim, it is decided against the depreciation value of the car. However, this add-ons allow you to get invoiced value along with registration fee, road tax and insurance.
@>medical expenses :
During the accident the owner-driver and co-passenger wound up, this add-on cover costs medical up to Rs 10,000.
@>Main replacement :
This add-on reimburses the costs caused by changing the lock or key of the lost or stolen car. It validates up to 2 claims during the policy term.
@>Consumable cover :
All expenses incurred on car consumables such as nuts, bolts and oils which are unfit for further use, can be reimbursed under this add-on.
@>Hospital cash :
If you are admitted to a hospital in the event of an accident, then you can get 1000 rupees per day for 30 days of hospitalization.
@>Engines & Gearbox Covers
If the vehicle has a breakdown due to the internal parts of the engine and gearbox, then it can pay the add-on cover expenses.
@>Ambulance fee
This add-on provides coverage against the transport cost of the ambulance carrying the insured person to the hospital.
**Insurance company reputation**
Choose the best car insurance company with an established brand reputation and financial stability. See how long the company has been working in the market, what experience it has and how many policies have been issued so far.
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