Benefits of Renewing a Car Insurance Online
Avail best deals /discounts
Easily avail great deals and discounts at the time of renewal. You can also compare the best suitable plan include and excluding add-ons, as per your requirement.
No need to stand in a long queue or visit the agent. Simply log on to the insurance provider’s website, fill in the details and make the payment. Your policy will be issued in no time.
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Reduced / Zero paperwork
A hassle-free process with zero documentation. All you need is to log into the insurance provider’s website and complete the renewal journey.
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Switch the insurance provider
If you wish to opt for a policy that offers you a better/great deal, you can switch to a new insurance provider of your choice.
Things to Keep in Mind Before Buying a Car Insurance Policy Online
Here are a few points that will help you select the right car insurance online
Policy coverage
Thoroughly scrutinise the policy coverage inclusion and exclusion. Then, choose the plan/ policy that suits your requirement.
Claim settlement ratio
Claim settlement ratio is one of the essential factors that you must consider at the time of purchase, as this will help you understand the claim service of the insurance provider. A healthy CSR is one of the factors to spot the excellent service of the insurance provider.
Network cashless garages
Having a network garage nearby will be very helpful in times of emergency.
Add-on coverage
We all know how to add on coverage boosts our insurance policy with a small amount in the premium; you can secure your vehicle entirely and drive worry-free.
How to calculate Car Insurance Premium?
A premium calculator helps you to calculate car insurance premium of your desired car. All you need is to enter the details and submit them. Then, the calculator will provide you with the approximate premium payment option, which you can select as per your requirement.
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Top 6 Factors That Affect Your Car Insurance Premium
As your car gets older, your premium amount increases because an older car is more prone to wear and tear. Opting for a Zero Depreciation cover with your insurance plan will help reduce your premium marginally.
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IDV (Insured Declared
Value) of the vehicle
The current value per the market rate is your IDV, and the higher the IDV higher the premium. What can help is increasing the voluntary deductible amount or, in more straightforward language, increasing the amount you shell out in case of a claim. At the same time, the rest is taken care of by the insurer, which significantly reduces the premium amount.
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Your geographical location
Where you reside and park, your car is also a factor that affects your car insurance premium. If you live in a region prone to vandalism or theft, your premium amount may be on the higher side to offset any potential losses.
Your premium will vary based on how expensive your car is. More expensive cars with a higher engine capacity (exceeding 1500cc) will have higher premiums like luxury sedans and SUVs. In comparison, base car models with lower engine capacity (below 1500cc) will have lower premiums.
Insurance premium for cars that run on Diesel and CNG is more than the premium for cars running on petrol. You can easily find out the premium amount for your car and its fuel type while buying car insurance online.
Another major factor affecting your car insurance premium is how safe your car is. Insurance premiums for cars with advanced safety features like airbags, ABS, collision warning systems, anti-theft alarms, and automatic braking make your car less susceptible to theft and accidents, reducing the premium amount.
How to Buy/Renew Car Insurance Online
To buy a new car insurance policy online
1. Visit your insurance provider’s website fill in the details, including your car registration number, mobile number and email address.
2. Enter the policy details and the add-on to the cover you would like to opt for.
3. Complete the process by paying the premium amount via online payment.
A confirmation mail along with the policy will be mailed to you.
To renew existing car insurance policy online
1. Visit the insurance provider website and select renew the policy.
2. Enter the details, include/ exclude the add on covers and complete the journey by paying the premium online.
3. The renewed policy will be mailed to your registered email id.
Buy/Renew car insurance for an old car
Having car insurance always provides peace of mind, and hence regardless of the new/ old or second-hand car, one must continually invest in a proper car insurance plan.
According to the Indian Motor Vehicle Act of 1988. every vehicle owner, including the owner of a second-hand, ca r or old car, must obtain valid insurance to drive on the Indian road failure, which can lead to heavy penalty and suspension of Driver’s license.
One can easily purchase a Comprehensive car insurance policy covering the vehicle from any natural or artificial disaster. It also protects you financially from third party liability in case of damage to other vehicles or property. It also consists of Personal Accident cover that compensates the insured with 15 lakhs in case of injuries caused in an accident.