Every year, the number of cars on Indian roads increases by 2.5 million. This is a staggering statistic considering that there are only around 10 million registered cars in India as of now. The number of accidents and fatalities due to car accidents also continues to increase each year.
Car insurance is important because it can help you get compensated for any damages to your car. It is also important because it can help you avoid paying a lot of money out of pocket if an accident happens. It is important to keep in mind that car insurance coverage may not be the same from one company to another. This means that you will need to do some research before picking out a company for your car insurance.
The best car insurance policies should be able to provide the right coverage for your needs. The insurance company should also be trusted and have a good reputation. There are many different types of coverage, including collision, comprehensive, uninsured motorist, liability, etc. You need to know what you need before you can find the right car insurance policy for you.
- Compare the plans
- Explore the Add-ons
- Check the claim settlement process
- Cashless network garages
- Company’s reputation and services
- High Claim settlement ratio.
What does Best Car Insurance Policies Cover in India?
Best Car insurance policies can literally serve you more than you can ever think. The importance of car insurance in India is directly linked to the law imposed by the Government of India. As per Motor Vehicles Act, 1988, it’s mandatory for all motorists to possess at least the third party car insurance. Having car insurance in India is important as it covers all the costs incurred from such events of vehicle damage or injuries done to other driver, pedestrians or passenger involving your vehicle.
Online car insurance policies also play a vital role by providing coverage against various loss or damage to your vehicle resulting from Theft, Accident, Fire or Explosion, Lightening, Self-Ignition, Strikes, Riots, Disaster, Act of Terrorism, Transit by Rail, Road, Air and so on depending on the type online car insurance plan you choose. To enjoy the benefits of an car insurance coverage in India one needs to pay for the premium on their car insurance policy.
- Covers third party damages involving your vehicle.
- Compensates vehicle repairing costs due to damage from an accident.
- Coverage against damages caused from vandalism, theft, fire, etc
- Offers cashless payment system. You can repair your vehicle form the network garages of your insurer and avail cashless facility.
- Offers additional discounts on premium as in multi car or multi policy discounts, accident free discounts etc.
- No Claim Bonus which is offered by auto insurance providers to reduce the cost of premium for each claim free years maintained by policyholders.
Types of Best Car Insurance Policies:
- Third party car insurance
In this type of car insurance policy, you are covered against legal liabilities arising out of an accident. If your car causes injuries to a third party or damages surrounding property, then we will take care of the expenses.
- Stand-alone own-damage car insurance
With our stand-alone own-damage car insurance, you are covered for any accidental damages to your car. These could be due to natural disasters like earthquake, flood, cyclone, and landslide, or due to manmade disasters like theft, burglary, riot or strike. To buy this car insurance, you should have an active third party insurance policy of the vehicle.
- Comprehensive Car Insurance
This type of car insurance provides the most protection because it covers third-party liability, damage to one's own car, personal accident coverage, and all non-collision damage such as storms, floods, fire, and theft. A comprehensive car insurance coverage can be supplemented with a variety of add-ons.
- Private car package policy
A comprehensive car insurance policy offers complete protection to you. It covers not only the costs incurred on damages to a third party but also the damages to your car. This policy type also covers car theft and damages caused by fire, burglary and natural disasters.
Top Best Car Insurance Policies in India:
Car insurance is essential to protect yourself from the financial risks caused by damaging your car, damaging another person’s property or vehicle, injuring someone with your vehicle, and more.
With so many car insurance companies in India, it is easy to be overwhelmed when looking for the best car insurance Policies in India for your needs and many choose policies based on price alone through comparison websites, when finding an insurer should be about much more:
- The best coverage for a reasonable price
- Excellent level of customer service
- Efficient claims process
- Accessible ways to manage policies and make payments
Here are the top leading best car insurance policies in India based on high scores for customer service and reviews handling from financial services as well as the quality of the cover on offer, including additional add-ons.
Reasons to Get Your Best Car Insurance Policies On Time:
When it comes to renewing your car policy, there are a few things that you need to do so that you are not inconvenienced. The first step is to find out when your policy expires. You can do this by checking your car insurance policy document or policy copy or by calling up the company and asking them for the date.
Next, if you have an insurance with an online web aggregator PolicyBachat, then you will need to call up customer service and ask them for a renewal form. Fill out the form and send it back with a copy of your license and proof of address. You might also be asked for other details such as when was your last inspection done or what type of coverage does your car have? If all goes well, then in about a week's time, you will receive an updated policy from the company which will be valid until the next year's renewal date arrives!
- You can save money
- It is convenient
- You may get a discount on your premium
- You will not have to worry about renewing your policy when you are on vacation or busy with other things
- Your new policy will start right away, so you don't need to wait for the next day
- You won't have to worry about getting a ticket while driving without insurance
- The company that sells you the auto policy may offer services like roadside assistance or rental car coverage if your car is in the shop
- If your car is totalled, then it's not a problem because you can just get another one and transfer the auto policy over
- Your new policy will be cheaper than if you renew late and there are penalties for being late on payments
- Your credit score could be affected if you do not pay your bills on time.
Conclusion:
To find the best car insurance policies in India, figure out your budget, how much, and what kind of coverage you need. Then get quotes from top insurers and smaller regional companies for the same level of coverage. Consider each insurer's price, customer service ratings, and coverage options. Make sure you understand what's included with each policy, including perks and discounts.
Most major companies offer similar types of coverage, but there are some unique differences among them. We have given the best car insurance companies by analysing important factors that will affect your customer experience. We evaluated large car insurance companies based on your needs for average rates, coverages, features available, levels of services, and claim assistance.
Whether you’re looking to switch insurers or you’re buying car insurance for the very first time, there are several factors to keep in mind when trying to find the right coverage for your vehicle. We recommend you to go through all the providers based on their affordability, strong financial standing, and positive customer service ratings. It’s always good to compare insurers. Get free car insurance quotes when you shop to find the best coverage and price for your insurance needs.