Know the Cheapest Car Insurance in India

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Know the Cheapest Car Insurance in India
03 Mar 2022
4 min read

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Car insurance is a very effective instrument for protecting your dream car from harm and lowering your costs in the event of an accident. On the market, there are a plethora of automobile insurance plans to choose from. It is usually a good idea to examine different plans and pick the one that is ideal for you. #TWN

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Car insurance is a contract between an insurance company and a car owner in which the car owner pays premiums, and the insurance company pays for any loss or damage to the vehicle. In India, car insurance is required regardless of whether the vehicle is commercial or personal. The majority of insurance providers in India have tie-ups with automobile manufacturers and provide rapid quotations to car owners.

Benefits of Car Insurance

  • Car insurance pays out in the event of a death caused by an accident.

  • Covers the expense of repairing a car that has been damaged in an accident.

  • Damage produced by something other than an accident, such as theft or fire.

  • Provides coverage for damage to a third party.

Types of Car Insurance in India

There are two different types of. The two types of car insurance are listed below.

Coverage for third-party liability insurance- Third-party liability insurance provides only a limited level of protection. This sort of car insurance only covers payments incurred as a result of your vehicle causing damage to another vehicle, property, or person.

Comprehensive automobile insurance provides coverage for damage to the vehicle, death of the driver or passengers, and damage to a third-party vehicle, property, or person caused by the vehicle.

Car Insurance Cover

The characteristics that are commonly covered under an automobile insurance policy are listed below-

It provides coverage for any bodily injury sustained as a result of a collision involving the insured vehicle.

Damage- It provides coverage for damage to the vehicle caused by an accident, theft, or certain natural disasters.

Third-party property damage coverage pays for damage to a third-party vehicle that is involved in a collision with the insured vehicle.

It also covers the death of the driver or passengers in the insured vehicle in the event of an accident or natural disaster.

Car Insurance Clauses and Exclusions

Some of the vehicle insurance clauses and exclusions are listed below-

  • Any vehicle-related concerns that arise as a result of the vehicle's age.

  • Loss with ramifications.

  • The car's mechanical failure.

  • Tires, for example, are subject to wear and tear.

  • The policy will not cover any damages caused by driving the car outside of the country's geographical boundaries.

  • If the person is driving without a license, no coverage will be provided.

  • If the motorist was under the influence of alcohol or drugs, no coverage will be provided.

How to Make a Claim?

The method for filing a claim if your car was involved in an accident or any other valid incident is outlined below-

  • In the event of a collision with another vehicle, the driver or passenger should take down the number plate of the other vehicle as soon as possible.

  • Make a call to your insurance company right away.

  • Claim with the insurance company and keep track of the claim number.

  • To lodge a claim, submit the papers necessary by the insurance company.

  • Fill out an FIR at the police station closest to you.

Companies

Network Garages

Claim Settlement Ratio

Bajaj Allianz General Insurance

4,000+

88.83%

Bharti Axa General Insurance

5,200+

87.99%

Hdfc Ergo General Insurance

6,800+

91.23%

Icici Lombard General Insurance

8,800+

87.71%

IffcoTokio General Insurance

4300+

95.30%

Kotak General Insurance

1,300+

82.81%

National General Insurance

3,100+

85.71%

Conclusion

Car insurance is important as it covers up the pays money in the event of death as a result of an accident. Covers the expense of repairing a car that has been damaged in an accident.

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