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What Is Car Insurance?

Car insurance is a contract between you and the insurer, wherein the insurance company offers extensive coverage to protect your car from every possible risk. It basically covers accidents, thefts, and any third-party liabilities based on the insurance purchased. It covers natural and man-made calamities. It acts as a boon to the policyholder in case of emergencies. We will also tell you about the best car insurance in India.

Why do I need a Car Insurance policy?

You’re the proud owner of your car; hence it is your responsibility to protect it from potential damages that may arise due to accident, or theft. In India, it is mandatory to have Third-party Insurance to drive on roads; otherwise, it is considered a legal offense. One more reason you need a car insurance policy is for the safety of others, they could be fellow drivers, pedestrians, or your passengers.

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How to renew car insurance online?

Renewing car insurance online is easy. Make sure that you renew the policy within the maturity period to avoid any penalty. To renew the policy, you must follow the process mentioned below:

  • Visit the insurer's website, and click on the renew option like policy bazaar car insurance.
  • Select the insurer – just because you have purchased a policy from an insurer, you need not renew the policy from the same insurer, you are free to choose a different insurance company at the time of renewal.
  • Fill in the necessary details like – policy number, vehicle registration number, personal details, etc.
  • Browse through the plans, and choose the suitable plan. At this stage, you can customize the plan. You can purchase an add-on cover or drop the riders that you had purchased previously.
  • Make the payment. You must pay the premium for the renewed policy.
  • Lastly, review the policy documents carefully and make sure that all the details are in place.
  • Be aware of the next renewal date and don't miss renewing the policy before the maturity date

Can I transfer Insurance if I sell my car?

Yes. Transferring car insurance is necessary while selling a car. This is because, at the time of claim, the details mentioned in the registration documents of the car should match the details mentioned in the car insurance policy. Note that, even if the entire insurance policy is transferred to a new owner, No Claim Bonus is not transferable. The discount remains with each car owner.

Advantages Of Car Insurance :

In case your vehicle is damaged due to an accident, fire, or self-ignition, you are protected. Furthermore, if the car suffers losses due to burglary or theft, strikes, riots, or terrorism, your insurance policy covers these. Another benefit of car insurance is that it covers loss or damaged while in transit by rail, inland waterways, air, road, or lift.

Another advantage of car insurance is that it offers personal accident cover for a pre-determined amount. Personal Accident cover provides protection against permanent total disability, Death due to an accident. Furthermore, this cover can be taken for other passengers on an unnamed basis (maximum as per the vehicle’s seating capacity) for a pre-determined amount under the car insurance policy.

FAQ :

Should I buy car insurance?

yes, you should really buy car insurance because it is for your own safety. You never know what will happen at any point in time. So it is better to stay on the safest side by buying car insurance so that if something goes wrong then you can financially support the insurance company.

Is health insurance also necessary?

yes definitely, everyone should have proper Health Insurance so that you can get financial support when you suffer from a disease and it will not affect your bank balance. As we already know the prices of medical support and surgeries are going higher and higher so it is always good to have insurance.