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Compare Car Insurance

Online Car insurance comparison is easy, hassle-free, and efficient at PolicyBachat. You can compare car insurance quotes with leading insurers in India. When you buy insurance for your car, you would want to get the insurance that is high on benefits/coverages and low on costs. Hence, you would want to compare different policies, understand their features, pricing and suitability.

You can compare insurance online and offline method. However, comparing insurance policies online is a quick, hassle-free and convenient way to find a policy that meets your requirements. Here are a few benefits of comparing car insurance policies online.

Reasons To Compare Car Insurance Policies

Save Money & Time

When you compare car insurance online, it takes you only a few minutes, without any additional costs. That is why, if you want to avoid instances like a cumbersome claim process later, it is best to invest a few minutes of your time beforehand and do the necessary research.

Choose the right type of Car Insurance Policy

In India, car insurance policies are of two types:

  1. Third-party car insurance: The first one is a liability-only cover which is mandatory under the Motor Vehicles Act, 1988, for every Indian vehicle-owner. This insurance mitigates your financial liabilities against damages caused by your vehicle to any third-party vehicle, property or person.
  2. Comprehensive car insurance: The comprehensive insurance policy, on the other hand, provides better-rounded coverage and imparts all the benefits of a third-party cover along with financial protection for damages caused to your own vehicle.

Be Better-informed about your Policy

If you compare different car insurance policies before purchasing them, you will be able to make a much more informed decision and as a result, enjoy maximum benefits from it.

Different Policies available in the Market

With the advent of the digital age, comparing insurance policies has become even easier. You can simply look through websites of different car insurance providers and have a better understanding of the various plans available in the market.

Helps to know the Credibility of the Insurance Provider

Thus, comparing policies online and checking the customer reference and reviews about the insurance company can help you to ascertain their credibility and avoid any mishaps later. Thus, when you compare car insurance rates and policies, you can secure your finances much more effectively against unforeseen situations involving your vehicle.

Factors To Check While Comparing Car Insurance Policies

Age of Your Car

When comparing car insurance online, you should know that your insurance premium is decided on the basis of several factors. One of the factors is the age of your car, so make sure that you chose the insurance company that provides the best premium rates. The Insured Declared Value or IDV of a car changes with age.

Coverage

Try to get as wide coverage as you can. One of the easiest ways to widen your coverage is by opting for add-ons. You should look for add-ons like Engine Protector Cover, No Claim Bonus (NCB) retention cover, etc. It varies from insurer to insurer but comparing car insurance will help you choose the add-ons that suit you the best.

Premium Rates

This is one of the most important factors that you should consider while you compare car insurance. So, comparing car insurance policy will surely help you find a plan that you can afford. Also, you should not compromise with the features of the plan. So, choose a plan with several features and affordable premium rates.

List of Network Garages

car insurance comparison will help you get the plan whose network garage is the nearest to your residential area. This is will help you enormously in case of an emergency.

Add-on Covers

Several insurance providers offer several add-ons to enhance your coverage. Comparing car insurance policy will help you get the best add-on that suits your needs. A person who lives in an area where rainfall is common must opt for engine protection cover, whereas, a person who lives in an accidental prone area, should opt for personal accidental cover.

Customer Reviews

This is the most important factor that policyholder should consider while comparing car insurance online. You can get to know about the claim settlement ratio of the insurance company with the help of customer reviews. Go through the reviews to get the best deal.

Advantages and Disadvantages

There are certain exclusion and inclusions that you can see in the terms and conditions of the car insurance policy. When you compare car insurance online, you can get through advantages and disadvantages of the various car insurance policies. This will help you chose the policy that suits your requirement.

Claim Settlement Ratio

Claim Settlement Ratio is the ratio that determines how efficiently the insurance company settles the claim. One can compare the car insurance policy so there is no barrier in the claim process.

Types Of Car Insurance Policy In India

Car insurance is a protection shield for your car against any damages caused by natural calamities such as floods, earthquakes, cyclones, accidents, and thefts. There are three types of car insurance policies in India:-

1. Third Party Car Insurance

Third party car insurance or Liability car insurance or Act only car insurance is the compulsory car insurance in India as per the Motor Vehicles Act. Any party other than the insurance company and the customer of the car is referred to as a third party, hence the name third party car insurance.

The death, disability, and damage to goods or property of the third party are covered under the TP policy of the car insurance. The claim amount in case of Third party claims would be decided by the honourable courts and direct the insurance companies to settle the claim amount to the third parties on behalf of the car owner. This is the basic type of car insurance policy available in India and is compulsory to be taken for any car to drive in public places.

2. First Party Car Insurance

While buying insurance for your car, it is not only enough to look at some important aspects of the policy, such as the cost and the coverage but also understand what terms like first-party car insurance, second party, and third-party car insurance stand for. This knowledge, in turn, can help you understand the policy document so that you can make a good decision.

The own damage section of the car insurance is known as the first party car insurance. In the insurance agreement, the person who purchases the insurance is known as the first party, and the company who sells the insurance is known as the second party. The customer who pays for his car insurance is known as the first party and any claims made under the first party section are settled by the insurance company under the own damage section of the car insurance policy.

3. Comprehensive Car Insurance

Comprehensive Car Insurance includes the Own damage section as well as the Third party section. The Own damage section covers any loss or repairs to the car owned by the insured due to an insured peril.

The premium to be paid by the customer under the own damage section is decided by the insurance company, unlike the third party insurance premium which is decided by the IRDA. The own damage premium rates are given by the IRDA and the insurance companies can decide the premium within those rates.

The other type of car insurance in India is comprehensive car insurance with add-ons such as Zero Depreciation, Consumables, Engine protection, etc. The most common type of add-on opted by the car insurance customer is the Zero Depreciation cover along with the comprehensive car insurance policy.

4. Pay as you Drive Insurance

Pay as you drive insurance allows a policyholder pays an insurance premium based on the distance (kilometers) driven by the vehicle. This will be useful for those who have multiple cars.

Currently, there are only a few insurance companies only who are offering this policy. It provides comprehensive coverage for own damage and third-party liability coverage is provided on a basis for a term of a year.

How PolicyBachat Works

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The Benefits Of Comparing With PolicyBachat

Save Money

Save Money

Get a side-by-side comparison from best insurance companies, so you can pick the best deal.

Save Time

Save Time

Quick and easy to compare and save time with our single entry multi carrier interface.

Get Peace of Mind

Get Peace of Mind

Rest easy knowing that you compared top insurance companies side-by-side and got the best price.

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