In today's digital era, buying vehicle insurance online has become easier than ever. Now you do not need to visit an agent or go through a long paperwork process. In just a few minutes, you can buy vehicle insurance online from your mobile or computer. This not only saves time but also gives you an opportunity to compare policies of different insurance companies and choose the best plan according to your budget.
You should definitely think about the best insurance. However, people are often confused about what kind of vehicle insurance policy they should buy while buying a vehicle, which can help in case of an accident. Therefore, you should always buy the best insurance policy. We will tell you the entire process of buying vehicle insurance online, tips to choose the right policy and its benefits, so that you can easily take an informed decision.
Why is Vehicle Insurance Necessary?
Vehicle insurance is not just a legal requirement, but it also serves as your financial security shield. It covers financial losses caused by road accidents, theft, natural disasters and other unforeseen events. In India, Third-Party Insurance is mandatory for all vehicle owners, while Comprehensive Insurance provides more protection to your vehicle. By taking the right insurance policy, you can avoid potential future problems. What is it, why is it necessary and how many types are there
Benefits of Buying Car Insurance Online
In today's digital age, buying vehicle insurance online has become very easy and convenient. It has many advantages, which make it better than the traditional way.
- Time saving: Now you do not need to meet the agent or complete a long paper process, you can buy insurance in a few minutes.
- Easy comparison: On the online platform, you can choose the best option by comparing the policies of different insurance companies and their premiums.
- Low cost: Many insurance companies give special discounts and offers on buying policies online, which can reduce your insurance cost.
- Digital Documents: All the important files of the insurance policy are safe in digital form in your email and mobile, which eliminates the paper hassle.
- 24/7 availability: Be it day or night, you can buy or renew your policy anytime and from anywhere.
Process To Buy Car Insurance Online
You have to understand properly about what kind of car insurance you need. It is important to understand the two main methods of car insurance process in India.
Third-party car insurance
It is legally mandatory and only covers damage caused to another person or vehicle. If your vehicle causes damage to someone in an accident, the insurance company compensates for it. However, it does not cover damage to your own vehicle.
Comprehensive car insurance
This is a comprehensive insurance plan that provides protection to your vehicle along with third-party cover. It also covers accident, theft, natural calamities (flood, fire, earthquake, etc.) and other damages. If you want more protection, this is a better option.
Required documents
- Vehicle model and brand
- Registration number
- Engine and chassis number (Vehicle Identification Number (VIN))
- Year of manufacture
- Existing insurance details (if already insured)
- Personal details
Compare Policies
- Use online websites to compare premiums, inclusions and exclusions of several companies.
- Pay attention to factors such as the company's claim settlement ratio, network garages and customer reviews.
- Check for add-on covers like zero depreciation, engine safety or 24/7 roadside assistance to make your policy even better.
- When comparing policies, keep in mind that the lowest priced plan is not always the best.
- Also check if it has a high resolve ratio along with cashless network garages.
Calculate The Premium
- Online platforms allow you to calculate your premium instantly. Premiums are affected by the following factors:
- Make and model of the car.
- How old and how much it has been used.
- When and where it was registered.
- What add-ons are you adding to the insurance.
Choose The Right Add-Ons
- Zero depreciation cover: It helps in compensating for damage to car parts.
- Engine Protector: This covers damage to the engine, which is usually not covered in standard plans.
- Roadside Assistance: This covers damages caused by situations like breakdown or flat tyre.
- Personal Accident Cover: Provides you financial security in case of injuries caused due to accidents.
How To Buy Car Insurance Online
- Fill an online form with your car and personal details.
- Review the policy terms, including inclusions and exclusions.
- Pay using your preferred mode like UPI, net banking or credit/debit cards
Tips For Car Insurance Renewal
- Set reminders for renewal to avoid lapse in coverage.
- Update your policy with relevant add-ons or upgrades, such as changing the price of insurance.
- Renew insurance before the last date to retain benefits like No Claim Bonus (NCB), which offers you cost-effectiveness on premiums.
Conclusion
There are many benefits of taking car insurance online. It saves your time and you do not have to wander from place to place. This allows you to compare many policies while sitting at home. If you are looking for an investment option that gives good returns after retirement If you have any question regarding this post, then you can tell us by commenting in the comment box given below. Your feedback and suggestions are welcome as always. Thank you.
