Membership of the Automobile Association of India, secures you a concession on own-damage premium
What are the documents required to buy car insurance online?
With the availability of online platform, buying insurance is a very simple and hassle-free procedure. However, if the insurance company demands, you would need to keep the following documents handy.
The copy of your Registration Certificate (RC) of your vehicle
The invoice copy for a new car
Previous insurance policy
No claim bonus reserving letter, whenever require
How is the premium of car insurance determined?
The premium for your car insurance is calculated on different factors for the Own Damage cover (Comprehensive cover) and the Third party cover.
The Own Damage cover Premium is calculated basis the following:
The IDV (Insured Declared Value) of your car (the value of your car that will be compensated to you in case of theft or total damage)
The make and model of the car
Your car’s manufacturing year
Your geographical location
The applicable No Claim Bonus, accumulated over claim free years
Any add-on benefits you wish to opt
The Third party cover shields you from loss or injury you cause to a third-party (the calculation is based on the engine capacity). You may also apply for the Personal Accident cover, which will protect you from accidents. The premium amount would have the PA cover and service charges would be reflected in it.
The sole purpose of buying insurance for your car is to get adequately compensated for any damages and losses. To ensure that you raise a successful claim, it’s necessary to keep all the relevant documents at hand. While insurance companies try their best to avoid pesky paperwork, here is a list of documents you need to have on you:
The copy of the Registration Certificate and Tax Receipt of your car
The proof of valid insurance document
Copy of your Car Driving License
Repair Bills and Payment Receipts in case of reimbursement
Copy of FIR/Panchanama in case of Theft or Third Party damage/death/bodily injury For more details on different types of claim process, read
How do you compare car insurance plans before choosing one?
We all know that too many options usually implies too much confusion. That is why, before choosing, one must compare plans on the basis of:
Car Insurance Company: Check the company’s past records for the number of claims settled and the time taken to settle them.
Premium and Coverage: Balance between the premium you are willing to pay and the coverage that you will actually end up needing. Also, don't forget to include add-ons accordingly.
Cashless Garage Network: Be sure about the insurer’s network garages in your area. You must remember that you can avail cashless services only at these garages, so that's always tricky.