Best Car Insurance Agent in India
Things to Keep In Mind Before Deciding The Best Car Insurance Agent in India. While purchasing a car many factors are taken into consideration, a proper research is done and even test drives are taken by the customers.
Everything you need to know about No Claim Bonus (NCB) protector in Car Insurance
No claim bonus in car insurance is basically the discount offered to the customer by the insurance company at the time of renewal for having no claims in the previous policy years. The No claim bonus is given as discount under the own damage section of the car insurance policy and it ranges from 20% to 50% for every claim free year. The NCB can drastically reduce the premium of the car insurance and save a lot of money for the customer. The NCB discount is over and above the own damage discount offered by your car insurance company.
Lost Car Insurance policy copy?
What happens if you lose your Car Insurance Policy? Many of us might have faced the situation of losing the car insurance policy which could have been due to many reasons. Once the car insurance policy is lost, it might be difficult to show to the traffic police or the authorities during the search.
Everything about Bumper to Bumper Car Insurance
Car insurance consists of two sections namely third party and own damage which when offered together is known as Comprehensive car insurance policy. The own damage section under the car insurance has add-ons which can be opted on payment of additional premium. The premium to be paid for these add-ons varies from company to company and also depends on the age of the car.
Best Car insurance in India
What factors are to be considered while selecting the Best Car Insurance in India? Many of you might have searched for the term Best Car insurance in India. Car insurance is very much popular in India and there are almost 27 general insurance companies offering car insurance to the Indian customers. The car insurance premium charged by these insurance companies differs as per the coverage offered by these insurance companies. There are few factors which are to be considered before selecting the best car insurance from the list of available options.
Car Insurance Price List
What would be the car insurance price list for your car? Car insurance premium calculation has two components namely Third party (TP) premium and Own Damage (OD) premium. While the Third party premium rates are fixed by the IRDA, the own damage premium rates are fixed by the insurance companies. The third party premium rates are subject to change each year depending on the claim amount settled and other factors which are taken into consideration by the IRDA. The car insurance price list contains both the third party premium and the own damage premium or 1st party premium of your car.
IDV of the Car
What is IDV in Car Insurance and how is it calculated? Car insurance customers might have a fair idea of the coverage and the Sum Insured given in their car insurance policy. The sum insured in the car insurance policy is known as Insured Declared Value (IDV). IDV can be described as the value of the car agreed by the customer and the insurance company prior to the issuance of the car insurance policy. The liability of the insurance company in any case doesn’t exceed the Insured Declared Value present in the car insurance policy.
Different types of car insurance
The different types of car insurance policies in India – Explained. Car insurance is the most sought after insurance product in the Indian market due to the Motor insurance act which makes at least third party car insurance compulsory to ply in the public places. Most of the people have good knowledge of car insurance in India and are able to compare and decide the premiums before taking a car insurance policy.