Step-by-step Guide on How to Get Car Insurance Onlne in India

A car insurance policy is necessary for any car owner to get constant coverage. The policy covers all damages to you or the car in an accident. So you need not face extra financial burdens. With digitalization, you can get car insurance online, and most online facilities are available. Many companies offer various insurance policies with many benefits.

If you want help buying insurance, read this article to learn the detailed steps. Of course, you can buy a car insurance policy by visiting the insurance company. However, there are many benefits to getting the policy online. You can check the details yourself and get it done from the comfort of your home. 

Step-by-Step Guide to Get Car Insurance Online

Follow the below step-by-step guide to get the car insurance policy online:

Step 1: Choose the Insurance Type

First, know the insurance types your insurer is offering:

a) Third-party Insurance: According to the Motor Vehicles Act of 1988, third-party insurance is mandatory. This insurance protects against any damage to a third-party vehicle or physical injury. Third-party insurance provides reimbursement for the loss incurred in an accident.

b) Comprehensive Car Insurance: This type is an extensive insurance plan for cars. It covers the vehicle loss, any damage to the insured driver, and third-party damage. It also includes loss from natural calamity, theft, and fire.

c) Pay as You Drive: It covers damages and third-party liability. The insurance charges for the premium depend on the car’s usage. Hence, you can track an insured car’s driving pattern and usage through telematics. Telematics helps identify low-risk or high-risk drivers. It then helps in deciding the premium amount.

Step 2: Choose the Add-ons

You can also select add-ons in addition to the insurance policy you choose. There are numerous add-ons to choose from, but they all come at an additional cost. Below are some of the add-ons:

a) Zero depreciation: Depreciation means a reduction in car value due to wear and tear with age. For example, a car’s value drops to 91% of its initial cost after a few days of use. This add-on transfers the depreciation liability of parts over to the insurer for a nominal fee.

b) Engine protection: The engine is the costliest part of any vehicle. Its damage is not covered under comprehensive insurance. This add-on will allow you to protect your car’s engine.

c) Invoice cover: It is also called “invoice protection” or “returns to invoice” (RTI). This add-on will let you get the invoice amount and the road tax if your vehicle is stolen or lost.

d) Roadside assistance: This add-on comes in handy if you need help when your car breaks down, has a flat tire, or other such instances. With this add-on, you can contact your insurance company and ask for help with many factors. Below is the assistance you will get with this add-on:

• Spare keys.
• Dead batteries.
• Minor repairs.
• Flat tyres.
• Fuel assistance.
• Towing services.
• Accommodation or taxi assistance.

In addition to the above, there are others to choose from. These consist of tire cover, personal loss cover, critical protection cover, consumables cover, no claim bonus protection cover, and more.

Step 3: Select the Insurance Company and Choose the Policy

Now, it is time to choose a reputed insurer. When comparing car insurance companies, there are several factors to consider. These factors include the claim filing process, the market reputation of the insurance company, the cashless garage network, the claim settlement ratio, and customer support. Also, consider the features, such as policy coverage, premium, add-on packages, inclusions, and exclusions, before deciding on the insurance company.

Step 4: Compare Car Insurance Plans

Today, many insurance companies offer various types of car insurance online. Check the different insurance plans and compare them carefully. Then select the plan that meets your needs and provides the most benefits. For this, you can visit the insurance broking portal. Such a portal allows you to compare plans for more than 40 insurance companies with a single click.

Step 5: Check Policy Documents

Once you have decided on the insurance company and policy, the next step is to check the policy documents. Make sure that the policy is offering what it has promised. Also, check all the inclusions and exclusions. You should review the policy documents and understand them well to avoid any conflict later on.

Step 6: Provide Details

You must submit identification documents for yourself and the vehicle when purchasing car insurance online for a four-wheeler. Ensure all the documents are handy and accessible. These documents include a driving license, registration card, and vehicle invoice. It is because you will have to enter the details, such as the car model and manufacturing date, chassis number, RTO, purchase date, etc.

Step 7: Make Payment Online

Once you have entered all the details, pay the premium amount for the car insurance online. You can make the payment using online banking, debit, or credit cards. The car insurance renewal process is also similar. In the case of a renewal, you will have to submit the details of your current or expired policy.

Step 8: Receive a Copy of Your Policy

Once you have made the payment, you will get a digital copy of your policy on your email ID. After receiving your policy, do check it for any discrepancies.

Make sure to match the below details of your policy with the RC of your vehicle:

• Make and model of your car.
• Insured name.
• Engine power.
• Car’s registration number.
• Identification number of the vehicle.
• Chassis number.
• Start and expiration dates of the policy.
• The insured declared value (IDV) of the car.
• Add-ons (if any).

Once you have verified the details, get a printout of your car insurance policy. You can also get the original document from the insurance company.

Conclusion

The article described how to get a car insurance policy online in India. We hope the article was helpful to you. You can read more such articles on our website to get information on related topics. Also, you can check the different financing options offered by Piramal Finance.