In front of us is Diwali Dhanteras. Many of you must have considered buying a two-wheeler or a four-wheeler. Surely there has been an argument at home about which company's car to take. You must have chosen the color of your dream car. But have you ever thought about protecting your dream car? The answer is certainly not for everyone.
Yes, We all forget about this before buying a car. Now there are many questions in your mind that which the Best car insurance in India and best insurance company India.
Today I answered all these questions. I Share a draft of Best car insurance policy for you. I am sure this time you will not have any difficulty in choosing your car insurance plan. Best plans are :
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This insurance is mandatory when buying a car. If not, it cannot be run on the road. In insurance industry terms it is ‘Act Only Cover’.
BENEFITS
The benefits that the insurer enjoys under third party liability are:
1. If someone is injured or killed in a collision with your car, there is no upper limit under this insurance for third party compensation. However, in case of loss of any other vehicle or property, the maximum premium is Rs 7.50 lakh.
If the insurer wants, however, you can limit it to Rs 6,000. In that case the premium will be less. However, keep in mind that the insurance company will then pay that money. If the amount of compensation is more than that, but you have to pay it from your own pocket.
2. If you have a car in your name and a driving license in your name, it is mandatory to take an additional protection with a premium of 50 rupees. Where the personal benefit of the insurer in the event of an insurance benefit. But keep one thing in mind. For example, the husband has a driving license, but the car is in his wife's name, and he does not have a license.
In that case the wife will not get this extra
benefit with the original car insurance on the third party liability cover. So in this case there is no profit by spending 50 rupees. It is also a good idea to let the agent know.
PREMIUM
How much premium you have to pay per month or year for this insurance will depend on what type of car you have. For example, in the case of four-wheelers, there are different premiums.
There are three classes:
• 1000 cc or less.
• More than 1000 cc to 1500 cc.
• More than 1500 cc.
• In the case of two-wheelers, it is four.
• Up to 75 cc.
• More than 75 cc to 150 cc.
• More than 150 cc to 350 cc.
• More than 350 cc.
BENEFIT
The benefits that the insurer gets under this car insurance scheme are:
1. Suppose the price of a new car (when buying from the showroom) is 5 lakh rupees. This price is called Insured Declared Value or IDV. In case of any loss or damage to the entire car in the first year after purchase, the insurance value of the car will be Rs. In that case the insurer will be able to claim this premium.
From next year onwards, the insurance price will be deducted from the market value of the car at 20%, 30%, 40% and 50% respectively.
After the car is five years old, the insurance price will be taken as the whole market price. However, how many more days' insurance can be taken after that will depend on the condition of the car. Which will be assessed by the insurance company.
2. In case of partial damage to the vehicle, there is a system to compensate it. For example, if the glass is broken in an accident, the full cost or price is available. Repairs to other parts, such as rubber, airbags, tires, batteries, etc. 50% of the total cost or price.
Damage to the rest of the metal parts is no depreciation if the car is less than 6 months after purchase. That means the full cost of the repair will match. However, after 6 months to one year, the rest of the money can be obtained by deducting 5% of the cost. If this happens between 2 and 5 years, the rate of depreciation will vary from year to year. After 10 years, you will get 50% insurance benefit.
PREMIUM
The premium will also be different in this car insurance as it will be broken down into the same category in terms of engine capacity as the third party liability cover. However, his numbers in the Comprehensive Policy will depend on a few other factors. In that case you will see the age of the car, price, which is registered in any Regional Traffic Office (RTO) etc.
EXTRA BENEFIT
There are also additional benefits :
1. Accidental Personal Compensation: The Comprehensive Car Insurance Scheme promises to cover the loss of your own car. But you can also take advantage of personal compensation, such as physical disability or death from a car accident.
2. Zero Depreciation: In this case the Insured Declared Value or IDV will remain the same. So many people call this facility ‘bumper to bumper’ in common parlance. However, after five years of buying a car, it will not match from the sixth year.
3. Engine Protect: Intake of rain water or accumulated water can damage the engine. It is an additional bulwark against the problem.
4. No Claim Bonus: If no claim is made for the year in which the insurance will be taken out, the bonus benefits will be matched the following year. From 20% up to a maximum of 50% discount on premiums in subsequent years.
This insurance is designed to cover the loss of your car in the event of an accident or theft. Financial benefits can be claimed according to the insurance premium. Even if the vehicle is damaged due to natural calamity or strike like earthquake, flood, storm, cyclone, terrorist incident or any other reason, you will get insurance cover under the package policy. If you want, separate it Passenger safety can also be taken. This is called comprehensive or package policy as many people bring this insurance scheme with the added protection of third party liability.
2.Damage due to strike, riot and theft Damage Losses occur when transiting by road, rail, air and elevator.
Extensive car insurance coverage excludes loss or damage due to the following reasons :
1. If the vehicle is driven by a person wearing a tear and tear due to a mechanical breakdown without a valid driving license.
2. The effects of drugs or alcohol when a person is driving.
KNOWING BEFORE TAKING ANY INSURANCE :
1. IF LOST
Is the insurance policy is lost, inform the company in writing. You can get 'Duplicate' policy. Many times the company can charge a nominal fee for this.
2. SEEK COMPENSATION
You can claim insurance money for any damage to the car. However, the documents required for that are:
Properly filled insurance application form
Copy of vehicle registration certificate (now smart card).
Copy of driving license
Road tax certificate.
Receipt to cover the cost of repairing the damaged car if you do not avail cashless insurance benefits.
In case of cashless benefits, those receipts of repair as well as some other documents like the demand of the insurance company.
3. IF THE CAR AND ITS KEY IS STOLEN
If the car is damaged or stolen in an accident, the insurance company must be notified immediately. The car should be surveyed before repairing. Repair after that. If the car is stolen, you have to make an FIR immediately. Inform the concerned ‘RTO’ without delay. So that no one can illegally hand over the car to anyone.
4. LPG
Many vehicles are fitted with CNG or LPG fuel kits as fuel instead of petrol - diesel. The IRDA rules must be communicated to both the Road Trans Authority (RTA) of the Department of Transportation and the insurance company. Just as the RTA will change the registration of the car accordingly, the insurance company will bring the new system under insurance. For this you have to pay extra premium.
A few car insurance companies are as follows :
PREMIUM
How much premium you have to pay per month or year for this insurance will depend on what type of car you have. For example, in the case of four-wheelers, there are different premiums.
There are three classes:
• 1000 cc or less.
• More than 1000 cc to 1500 cc.
• More than 1500 cc.
• In the case of two-wheelers, it is four.
• Up to 75 cc.
• More than 75 cc to 150 cc.
• More than 150 cc to 350 cc.
• More than 350 cc.
EXTRA BENEFIT
For salaried drivers: This is called Wider Legal Liability. Where the salaried driver is physically disabled or dies in an accident while on duty, the insurance money will be matched.
For the employee: Even if the car is not used for commercial purposes, if the insured person goes to work in his own business or office and the car is involved in an accident, then the insurance benefits for him. Compensation can be claimed up to Rs 2 lakh.
For the ride: Accident insurance cover is available for all passengers, including the driver (who have different numbers depending on the seating area). In that case insurance can be taken on the basis of the number of passengers. If you want, it can be done again in the name of all the family members who will hit the car.
WHY YOU NEED THIS ?
This insurance is born keeping in mind that a collision with your car can cause damage to another car, property, injury or even death. This means that it will give financial protection to the person or thing that will damage your car. The two sides of insurance are you and the insurance company. And the third party who or whose property has been damaged. Hence, its name Third Party Liability. Remember, this insurance does not cover the damage to your car.
B. COMPREHENSIVE OR PACKAGE POLICY :
This is an extra protection for your car. Even if it is not compulsory, if you do not take this insurance after buying a car, it is your own loss. A lot of money can go into the water the next day.
For salaried drivers: This is called Wider Legal Liability. Where the salaried driver is physically disabled or dies in an accident while on duty, the insurance money will be matched.
For the employee: Even if the car is not used for commercial purposes, if the insured person goes to work in his own business or office and the car is involved in an accident, then the insurance benefits for him. Compensation can be claimed up to Rs 2 lakh.
For the ride: Accident insurance cover is available for all passengers, including the driver (who have different numbers depending on the seating area). In that case insurance can be taken on the basis of the number of passengers. If you want, it can be done again in the name of all the family members who will hit the car.
WHY YOU NEED THIS ?
This insurance is born keeping in mind that a collision with your car can cause damage to another car, property, injury or even death. This means that it will give financial protection to the person or thing that will damage your car. The two sides of insurance are you and the insurance company. And the third party who or whose property has been damaged. Hence, its name Third Party Liability. Remember, this insurance does not cover the damage to your car.
B. COMPREHENSIVE OR PACKAGE POLICY :
This is an extra protection for your car. Even if it is not compulsory, if you do not take this insurance after buying a car, it is your own loss. A lot of money can go into the water the next day.
BENEFIT
The benefits that the insurer gets under this car insurance scheme are:
1. Suppose the price of a new car (when buying from the showroom) is 5 lakh rupees. This price is called Insured Declared Value or IDV. In case of any loss or damage to the entire car in the first year after purchase, the insurance value of the car will be Rs. In that case the insurer will be able to claim this premium.
From next year onwards, the insurance price will be deducted from the market value of the car at 20%, 30%, 40% and 50% respectively.
After the car is five years old, the insurance price will be taken as the whole market price. However, how many more days' insurance can be taken after that will depend on the condition of the car. Which will be assessed by the insurance company.
2. In case of partial damage to the vehicle, there is a system to compensate it. For example, if the glass is broken in an accident, the full cost or price is available. Repairs to other parts, such as rubber, airbags, tires, batteries, etc. 50% of the total cost or price.
Damage to the rest of the metal parts is no depreciation if the car is less than 6 months after purchase. That means the full cost of the repair will match. However, after 6 months to one year, the rest of the money can be obtained by deducting 5% of the cost. If this happens between 2 and 5 years, the rate of depreciation will vary from year to year. After 10 years, you will get 50% insurance benefit.
PREMIUM
The premium will also be different in this car insurance as it will be broken down into the same category in terms of engine capacity as the third party liability cover. However, his numbers in the Comprehensive Policy will depend on a few other factors. In that case you will see the age of the car, price, which is registered in any Regional Traffic Office (RTO) etc.
EXTRA BENEFIT
There are also additional benefits :
1. Accidental Personal Compensation: The Comprehensive Car Insurance Scheme promises to cover the loss of your own car. But you can also take advantage of personal compensation, such as physical disability or death from a car accident.
2. Zero Depreciation: In this case the Insured Declared Value or IDV will remain the same. So many people call this facility ‘bumper to bumper’ in common parlance. However, after five years of buying a car, it will not match from the sixth year.
If someone sells the car he bought to someone after two years, the buyer of the car will be able to avail this facility for the remaining three years as well, even if it is lost. But if someone sells it to someone after the age of five, then this insurance benefit will not be available.
3. Engine Protect: Intake of rain water or accumulated water can damage the engine. It is an additional bulwark against the problem.
4. No Claim Bonus: If no claim is made for the year in which the insurance will be taken out, the bonus benefits will be matched the following year. From 20% up to a maximum of 50% discount on premiums in subsequent years.
However, the year in which the insurance is claimed does not match the following year. There are also conditions to get this benefit again after making a claim. This facility can be maintained even if car insurance is transferred from one company to another by submitting a certificate.
WHY YOU NEED THIS ?
WHY YOU NEED THIS ?
This insurance is designed to cover the loss of your car in the event of an accident or theft. Financial benefits can be claimed according to the insurance premium. Even if the vehicle is damaged due to natural calamity or strike like earthquake, flood, storm, cyclone, terrorist incident or any other reason, you will get insurance cover under the package policy. If you want, separate it Passenger safety can also be taken. This is called comprehensive or package policy as many people bring this insurance scheme with the added protection of third party liability.
C. EXTENSIVE CAR INSURANCE :
The formula provides a comprehensive policy, providing overall protection against damage or loss of your car or your vehicle due to any accident or collision. The scheme is extensive and covers third party, car, theft and even personal accidents. It is always advisable to buy comprehensive insurance as it covers vehicles, insured and third parties in a single policy. Some general covers proposed by the policy are as follows:1.Damage or due to floods, hurricanes, typhoons, earthquakes, floods, cyclones, storms, etc.
2.Damage due to strike, riot and theft Damage Losses occur when transiting by road, rail, air and elevator.
Extensive car insurance coverage excludes loss or damage due to the following reasons :
1. If the vehicle is driven by a person wearing a tear and tear due to a mechanical breakdown without a valid driving license.
2. The effects of drugs or alcohol when a person is driving.
KNOWING BEFORE TAKING ANY INSURANCE :
1. IF LOST
Is the insurance policy is lost, inform the company in writing. You can get 'Duplicate' policy. Many times the company can charge a nominal fee for this.
2. SEEK COMPENSATION
You can claim insurance money for any damage to the car. However, the documents required for that are:
Properly filled insurance application form
Copy of vehicle registration certificate (now smart card).
Copy of driving license
Road tax certificate.
Receipt to cover the cost of repairing the damaged car if you do not avail cashless insurance benefits.
In case of cashless benefits, those receipts of repair as well as some other documents like the demand of the insurance company.
3. IF THE CAR AND ITS KEY IS STOLEN
If the car is damaged or stolen in an accident, the insurance company must be notified immediately. The car should be surveyed before repairing. Repair after that. If the car is stolen, you have to make an FIR immediately. Inform the concerned ‘RTO’ without delay. So that no one can illegally hand over the car to anyone.
4. LPG
Many vehicles are fitted with CNG or LPG fuel kits as fuel instead of petrol - diesel. The IRDA rules must be communicated to both the Road Trans Authority (RTA) of the Department of Transportation and the insurance company. Just as the RTA will change the registration of the car accordingly, the insurance company will bring the new system under insurance. For this you have to pay extra premium.
BEST INSURANCE COMPANY :
A few car insurance companies are as follows :- Tata AIG General Insurance Company Limited.
- ICICI Lombard General Insurance Company Limited.
- New India Assurance Company Limited.
- Oriental Insurance Company Limited.
- HDFC RRGO General Insurance Company Ltd.