When buying car insurance in India, consider these key points:
Key Points to Know:
- Types of Coverage:
- Third-Party Insurance: Mandatory as per law; covers damages to third parties and their property.
- Comprehensive Insurance: Covers third-party liability and damages to your own vehicle due to accidents, theft, or natural disasters.
- Policy Exclusions:
- Understand what is not covered, such as damages due to drunk driving, mechanical failure, or wear and tear.
- No Claim Bonus (NCB):
- A discount on premiums for claim-free years. It’s important to inquire how NCB affects your premium at renewal.
- Add-ons:
- Optional coverages like zero depreciation, roadside assistance, or engine protection can enhance your policy.
- Premium Calculation:
- Factors include vehicle model, age, location, and your driving history. Use online calculators to estimate premiums.
- Claim Process:
- Understand the claims process and settlement ratio of the insurer. Choose a company with a smooth claim process.
- Customer Reviews:
- Research customer feedback to gauge service quality and reliability of the insurance provider.
- Insurer’s Network Garage:
- Check for a wide network of cashless garages for convenience in case of repairs.
Recommended Plans:
- Bajaj Allianz Comprehensive Car Insurance:
- Good coverage, extensive network of garages, and excellent claim settlement ratio.
- HDFC ERGO Car Insurance:
- Offers various add-ons, competitive pricing, and a user-friendly app for claim management.
- ICICI Lombard Car Insurance:
- Strong customer service, flexible coverage options, and a good NCB structure.
- New India Assurance Car Insurance:
- A government-owned insurer with reliable service and extensive coverage options.
- Tata AIG Comprehensive Car Insurance:
- Great for add-ons like zero depreciation and offers a quick claim process.
Always compare quotes and features before making a decision, and ensure that the policy meets your specific needs.
