Car Insurance

If you are new to buying a car, then it is likely that buying a four wheeler insurance would be the last thing on your mind, if there at all. However, ignorance is the same as innocence, meaning not being aware of it does not mean you don’t have to buy it. In fact, the Indian Motors Act mandates every vehicle owner to get insurance for their vehicle. Apart from being mandatory, buying four wheeler insurance is also a smart thing to do. If your car is insured, any accidental damage to it will be covered by the insurance provider. The insurance company will pay for the damages and also cover the cost of repair. However, you will get these services if you buy a four wheeler insurance and pay an annual premium. The basic idea of vehicle insurance is that you pay the insurance provider to secure financial aid in accidental damage situations. Hence, you need to exactly what to buy. Here are a few tips for first time four wheeler insurance buyers.   Do your research As ...

If you have owned a car for a long time, there is a chance that your insurance policy is nearing expiry. In the spirit of covering the basics, ensure that you renew your insurance policy, if you haven’t done already. Failure to do so can hurt you in two different ways. Firstly, it puts you on the wrong side of the law. Secondly, letting your car insurance expire puts you at risk of heavy financial losses. Contrary to popular belief, buying and renewing car insurance is not just an activity related to compliance. Car insurance actually proves quite useful in situations like car accidents or vandalism. Moreover, it is much easier to renew your car insurance now with car insurance renewal online. Here are some tips to do it right: Do it yourself The days where car insurance was as complicated as cooking are long gone. In fact, new-age insurance providers have made their offerings simple enough for you to get car insurance renewal online . Many car buyers follow the adv...

As discussed in the previous part of this article, the motor insurance industry has been changing rapidly in present times. Some of the future trends discussed previously include insurance premiums dependent on the driving etiquette of the buyer, insurance premium based on the previous credit history of the buyer and insurance policies for electric and self-driven cars. In this article, we discuss some of the other future trends in motor insurance:      ·         100% virtual claim process: One of the biggest improvements that have been made in the recent years in car insurance is in the claim filling process. The car insurance companies are now attempting to develop a virtual process that will take away all the tedious paperwork and will allow the policyholder to make a claim from his or her smartphone by making a video showing the damage done to his or her vehicle. This is probably the biggest change as far as the policyho...

We all want to pay lower car insurance premiums! It’s one of the main reasons why motorists refrain from making a claim against their insurance policy - it helps them unlock no claim bonus which can reduce the annual cost of a policy by up to 50%. However, despite this, there might be occasions where our insurance premium increases, leading us to feel cheated! However, there might be some plausible reasons for this, let’s find out more! Rise in third party premiums. Right, if your car insurance has risen without you making a claim, this is probably the reason for it. The premium for thirdparty insurance is increased every year and this result in a higher premium on your car insurance policy. Why does this happen? Well, the IRDAI hikes the rates for third party premiums every year and insurance companies simply integrate these new rates into their plans. The IRDAI does this because every year new vehicles are added to Indian streets. This results in higher risks of an accident ...

It’s quite common for personal belongings to wind-up in the car.   Things like a laptop, tablets & reading devices are often used while traveling. It’s understandable given that most of us have long commutes and we might as well utilize this time get some work done or catch up on the latest shows. Wouldn’t it be devastating to find that your car has been stolen and with it, all these cherished personal belongings have also been lost? Well sure, your car insurance policy will provide compensation, but this will be limited to the car itself, not your personal belongings. The policy will pay the current IDV of your car or the on-road value of the vehicle (only if you have the return to invoice add-on), but you will not be reimbursed for your personal belongings. This where personal belongings add-on could help! Just because a standard comprehensive motor insurance plan does not cover the theft of your personal belongings, that doesn’t mean you cannot get cove...

Your car insurance policy document is an important piece of paper. But at the end of the day, it is still just a piece of paper – it is susceptible to lose and damage. Maybe you send your car/bike for a deep clean and remove all the documents from the vehicle, misplacing the policy document in the process. Or maybe some liquid spill destroys the policy documents – whatever the case is, the following article will tell you what you need to do to get a new policy document and continue riding/driving your car with complete peace of mind. First things first, file a police complaint. If your car insurance policy document is lost, one of the first things you need to do is approach the police and lodge an FIR. This is because your policy document is extremely important and, if lost, could be misused. Therefore it is best to inform the police quickly. Also, to apply for a duplicate policy document, you need an FIR. Place an advertisement in the local paper. Step two when ...

Car insurance renewal is no longer the daunting task it used to be. This is especially true if you’ve purchased your motor insurance plan from an InsureTech company. Such firms will do everything they can to make the process easier and ensure you are able to renew your policy with ease. However, there are certain things you need to bear in mind when your car insurance renewal date is around the corner. This article will highlight these points of consideration to ensure you renew your policy like a pro! To begin with, know that you can switch your insurance provider. Maybe a friend has told you about a better motor insurance plan or you are not satisfied with the customer support of your current provider. Whatever the case is, you can move to a new insurance provider. You can change the type of plan as well. Your policy is either a third party policy or a comprehensive plan. Maybe you opted for third party insurance not knowing what it was and because it was ch...