Car insurance is a type of motor insurance that protects your vehicle from uncertainties. It protects your car against damages or losses incurred due to unavoidable happenings. Unavoidable happenings include theft, financial loss caused by accidents, etc.
The premium of car insurance depends upon certain factors like the car’s market value, coverage, vehicle classification, and voluntary excess. Car insurance gives a guarantee to drive peacefully.
Why you should Buy Car Insurance?
It’s really important to buy four wheeler insurance in India either it is a personal or commercial vehicle.
The insurance company compensates for the loss or damage caused to the insured vehicle.
Here are a few reasons to buy a new car insurance policy in India:
- The insurance company pays for the car damages as a result of the accident, death, or natural calamities.
- It pays for hospitalization expenses if the policyholder meets with an accident.
Types of Car Insurance Policy in India
- Comprehensive Car Insurance
A comprehensive four wheeler insurance policy is a type of car insurance that provides coverage for third party liability and damages caused to your own car.
- Third-Party Car Insurance
Third-party car insurance protects from legal liabilities due to your four-wheeler vehicle involved in an accident.
- Pay as You Drive Insurance
It is also known as usage-based motor insurance as it allows the insured individual to pay the insurance premiums as per the kilometers driven.
Benefits of Buying Four Wheeler Insurance Online
If you are in a dilemma why most people prefer to buy four wheeler insurance online, then have a look at benefits:
No More Agents
In Offline purchase, many insurance agents involved who try to sell their own product. But buying car insurance online will eliminate such agents and you can buy the best policy after comparing various plans offered by different insurance companies.
No Paperwork Required
Buying insurance offline required a lot of paperwork. So another benefit of buying four wheeler insurance policies online is zero paperwork.
You don’t have to travel to the insurance company’s office to buy it. You can get your car insured in your comfort zone.
If you purchase your four wheeler insurance policy online, you will receive timely reminders ensuring that you do not miss out on the payments.
Cashless Payment Facility
Getting 4 wheeler insurance online provides a cashless facility and involves zero cash transactions.
Buying an insurance policy online is more economical as you save a lot of in-between costs.
With the online purchase of four wheeler insurance, you can easily compare the plans offered by different companies.
Soft Copy of the Document
A soft copy of the document makes it easy for you to access insurance policy from any place.
What is Included in Car Insurance?
The Car Insurance Policy Covers:
- Loss or damage to the insured four-wheeler vehicle.
- Loss or damage due to theft, fire, accident, explosion, lightning, riots or act of terrorism, natural calamities.
- Coverage for Personal accidental.
What is Excluded in Car Insurance
Following Features are not Covered In Car Insurance:
- All kinds of Wear and tear of the car.
- Any loss or damage to the vehicle when driven without a driving license.
- Loss or damage to the vehicle because of intoxication due to drugs, alcohol.
- Loss or damage to the engine due to oil leakage.
How to File a Four Wheeler Insurance Claim?
- Submit a duly filled in claim form along with the required documents to the insurance company.
- The insurance company will send a surveyor to check the vehicle damages.
- If the damage requires immediate repair, then the surveyor will reach the spot of the accident.
- Based on the report, you can arrange for your car to be repaired.
- When work is completed, you have to get documents from the garage and submit them to the surveyor.
- If documents are in place, the insurance provider will reimburse your bills.
Documents Required for Filing a Claim for Four Wheeler Insurance
- Claim form signed by the policyholder
- Driving License
- Car Registration Certificate (RC)
- Insurance documents with the endorsement
- Fitness Certificate of commercial vehicles
- Police FIR Copy
The insurance company will settle your claim within a week from the date of submission of the required documents.