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 orange is the new black, then renting is the new owning! Sure, buying a home or a car has always been joyous moment, but the new generation is looking for practicality and they find it in the form of leasing. Until not too long ago, leasing was reserved for corporate big shots and luxury cars. Companies offered their top executives swanky premium cars as perks of the job. However, the concept of leasing a car is picking up steam, and if you’ve been thinking about giving it a try, this article will further your planning and understanding of the concept by throwing light on the motor insurance aspect of car leasing. Do I need to buy insurance on a leased car? This is one of the biggest differences between owning and leasing a car. With your own car, you need to pay for various things such as a motor insurance plan , vehicle upkeep and in some cases, vehicle repair. However, with a leased car, the lessor will usually take of these aspects for you. Therefore, you wil...

Car insurance and warranty are very important for your car. However, there is no comparison between the two - they are completely different elements of protection that are designed to complement each other. Unfortunately, some car owners feel that, if they have one, they don’t need the other. It is due to this misconception that many of them even fail to renew their insurance policies . Keeping this in mind, the following article will explain both and explain why you need insurance despite having multiple years of warranty for your car. Vehicle warranty: Vehicle warranty is what keeps you insulated from bills that arise due to any manufacturing or material defects. It’s a written guarantee that the car manufacturer will bear the cost of repairs or replacement in case your car’s parts do not work as promised for a certain period of time. Most manufacturers will provide standard warranty when you buy the car and offer the option of extended warranty to get protection from m...

Car theft is a real danger - figures from Delhi show that 125 cars are stolen every day. So many cars being separated from their owners on a daily basis is a cause for concern. However, it shouldn’t worry you much if you own a comprehensive car insurance policy. Even if your car is stolen, your insurance policy will reimburse you with a large percentage of your car’s value. This is because all comprehensive insurance policies cover theft by default. However, if you are one who requires extra peace of mind from theft, you can opt for a number of add-ons that will reduce, if not completely nullify, the impact of a stolen car. This article will highlight 3 of these add-ons to help you get full-proof protection from car theft. 1. Zero-depreciation cover: Usually, car insurance will provide you with the insured declared value of your vehicle in case it is stolen. However, it will also take into consideration the depreciating value of your car when providing the payout. ...

Car insurance is much more expensive than two-wheeler insurance. In fact, the average single year, a comprehensive policy will set you back around Rs. 10,000-15,000/- and that’s a conservative estimate. However, every penny you spend is worth it as you are buying yourself a financial safety net that will help you bounce back from the financial impact of an accident. It is only a problem when people end-up overpaying for this financial safety because of simple errors due to lack of understanding or clarity during the purchase process. This results in a waste of money and is a mismatch of cover as well. However, you can avoid all of this by NOT making the 5 purchase errors mentioned in this article. 1. Setting a high IDV when buying car insurance . When you buy a policy, you have to set the Insured Declared Value or IDV of your policy. IDV is simply the market value of your car insurance and is the amount your insurance company will provide in case of a total loss or theft of yo...