Digital Sujhav
In this article, we will learn how you can get car insurance online. What are the documents required for online insurance. Also what are the benefits of getting online car insurance. There are also some other things that should be kept in mind while making online car insurance.
Two ways to Buy Online Car Insurance :
1.Car Insurance through Companies websites :
Nowadays almost all insurance companies have started making their products available online. Here we are giving the names of the major general insurance companies in India and the links of their websites-
New India Assurance Company Ltd. – www.newindia.co.in
United India Insurance Company Limited- uiic.co.in
Bational Insurance Company Limited – nationalinsuranceindia.nic.co.in
ICI Lombard – www.icicilombard.com
The Oriental Insurance Company Limited-orientalinsurance.org.in
Bajaj Allianz – www.bajajallianz.com
HDFC Ergo – www.hdfcergo.com
Tata AIG – www.tataaig.com
Reliance General – www.reliancegeneral.co.in
Cholamandalam – www.cholainsurance.com
State Bank Car Insurance-www.sbigeneral.in
2. There are also many such companies in India that work as Insurance Aggregator :
They offer valuation and comparison of the products of other insurance companies. The customer chooses from those products according to his need. There is also a link to buy that product on the aggregator itself. When someone takes a policy of an insurance company through this link, the aggregator gets a commission.
The names of some of the companies working as aggregators in the field of auto insurance in India are as follows.
Policybazaar.com
coverfox.com
www.policyx.com
www.comparepolicy.com
www.bankbazaarinsurance.com
InsurancePundit.com
insurancemall.in
myinsuranceclub.com
easyinsuranceindia.com :
Take care Insurance Aggregators are recognized by the Insurance Regulatory and Development Authority of India (IRDAI) for only 3 years at a time. You can see the list of which insurance aggregators are currently valid on the IRDAI website.
Documents Required for Online Car Insurance :
To buy an online car insurance policy from a company, you need the following documents-
Photocopy of your driving license :
Documents related to the registration of your vehicle, along with a photocopy of RC (Registration Certificate)
Your address proof :
A Cancel check, if you opt for EFT (Electronic Funds Transfer) to pay the premium
Documents of your existing policy (if renewing insurance or changing insurance company)
Buy Car Insurance Policy online :
As we mentioned above that all the major general insurance companies provide online insurance facility on their websites. By completing some easy steps, you can buy car insurance in minutes.
1: First of all you have to fill a form regarding your vehicle. In this, information about the type and make of your vehicle has to be given. On the basis of this, it is decided how much premium (installment) you will have to pay.
2: After this you are asked for personal information about yourself (personal details. For example name, address, e-mail, phone number etc.
3: Now it is time to pay the premium of the policy. You can pay by Debit/Credit Card, Netbanking or UPI as per your convenience.
There are mainly two types of policies under car insurance- Third Party Liability and Comprehensive Insurance Policy.
Under a third party insurance policy, compensation is paid for the injury caused to someone else or damage to someone else’s property from your vehicle. This compensation is given to the person who has caused harm.
Under a comprehensive insurance policy, you not only get the benefit of third party insurance, but also get compensation for damages caused to your own vehicle. In both cases, the insurance company pays compensation.
Add-on protection :
These are for various types of subsidiary insurance cover in addition to the main insurance policy. Such as- No Claim Bonus Protection, Accident Cover, Invoice Protection, Roadside Assistance and so on.
Premium is based on various facts :
You have to select the insurance policy in advance according to the type of your vehicle and other facts. According to the benefits received from the insurance policy, its premium (insurance installment) is decided. Your insurance premium will depend on the following facts.
Vehicle type and engine capacity :
The premium of a car insurance policy depends on how old it is, which brand it is, what is the make and model, what type of fuel (Diesel, Petrol, CNG) runs on. What is the engine capacity? The better the vehicle is in condition, the lower will be the premium of insurance.
Record of Claims on Old Insurance :
If you have not made any claim on the previous policies, then you will get a lower premium for taking the policy further. It would be better if you avoid making a claim in very small accidental repairs even further.
Driver and place of registration :
If your vehicle remains in the hands of one driver (single user drive), then its premium will be less. In which many drivers are required, their premium is high. Similarly, people living in big cities have to pay higher insurance premiums than people living in small cities.
So friends, these were the important things to know before buying car insurance online.
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