Points To Get A Better Motor Insurance Plan:


  • As per Indian Government RTO act, insurance is mandatory for every vehicle.
  • We can’t register our vehicle without insurance.
  • Third party and comprehensive (Full) insurance these are two types of car insurance.
  • The loan vehicle must have comprehensive insurance.
  • The comprehensive insurance is suggestible to everyone, which covers everything from our vehicle and third party vehicle, also cover all the damages and injuries of all persons.
  • We have to remember the expiry date of all insurance policies that it shouldn’t get expired.
  • Buy the policy of reputed insurance company online. It will save a lot of premium.
  • Check the IDV(Insured Declared Value), No claim bonus, Depreciation, Cover for own damage.
  • Check that the cashless facility is available for the claim.
  • Keep the insurance policy always with you when you are driving.
  • Car Insurance Renewal, Easy, Quick Car Insurance Renewal, Renewing Your Car Insurance Policy.

Know the Types of Vehicle/Motor Insurance:


Motor Insurance

Generally, plans offered by general insurance providers can be broadly classified into two categories:-

Also Read: TATA AIG Two-Wheeler Insurance Plan

a) Third party liability insurance

This plan usually covers damage to property, accidental death, and injury to a third party. 

Third party insurance plan is also a mandatory requirement for all vehicles plying on public roads in India.

Third-party insurance is an insurance policy acquired for security against the claims of another.

A standout amongst the most well-known types is third-party insurance is accident protection.

Third-party offers coverage against claims of damages and misfortunes brought about by a driver who isn’t the insured, the main, and is accordingly not secured under the insurance policy.

The driver who caused damages is the third party.

Also Read: TATA AIG Car Insurance Plan

b) Comprehensive Plan

This usually is a preferred option by many as it covers for both ‘own damage’ and legal liability of the third party.

It also covers theft or damage caused by unforeseen perils like cyclone, earthquake, fire explosion etc.

Comprehensive insurance is a coverage that encourages pay to supplant or fix your vehicle if it’s stolen or harmed in an occurrence that is not an impact.

Motor Insurance

Comprehensive regularly cover harm from flame, vandalism or falling articles (like a tree or hail).

In case you’re financing or renting your car, your bank likely requires comprehensive coverage.

On the off chance that you claim your vehicle inside and out, it’s a discretionary coverage on your car insurance policy.

Tips to Reduce The Cost Of Your Vehicle Insurance:


a) Voluntary deductibles:

Deductibles or excesses are the amounts over and above which a claim is payable by an insurance provider.

If you are willing to settle petty claims for small damages from your pocket voluntarily, then the cost of the premium for vehicle insurance can be reduced approximately by thirty percent.

b) No claim bonus :

You can reduce the premium payout by nearly fifty percent every year if you don’t claim insurance on your vehicle.

Insurance companies give the benefit of no claim bonus as a record of your good driving year after year.

If you sell your vehicle, this no-claim bonus can be transferred to your new insurance policy for the new vehicle and avail lower premium payout.

c) Discount for security features :

Few cars come with enhanced security systems which are built-in such as anti-theft alarms and immobilizers.

There is a low probability of theft of such cars. These cars can be insured for less premium.

However, only Automotive Research Association of India (ARAI) approved devices will attract a 2.5 percent discount on your premium.

Motor Insurance

D) Insured Declared Value (IDV):

It is an essential part of the car insurance policy.

IDV of a car chooses the insurance premium when you reestablish your policy.

Essentially, the IDV is the current money related valuation of the car whereupon the insurance coverage is advertised.

In straightforward terms, with the end goal of insurance, it is the present market value of the car in the wake of figuring the devaluation part.

Additionally, IDV is regarded as the ‘entirety insured’ which is settled amid the beginning of the car policy period.

Home » Motor Insurance » Points To Get A Better Motor Insurance:

18 Comments

Anagha pirangute · at

Hi
Good information about the car insurance.
It’s simple n helping to get covered for car.
Keep it up.

onkar · at

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Georgetta · at

Thanks for the great post

Karan Shetty · at

Very helpful article! I have a car insurance from Bharti AXA GI. I have got a comprehensive third party liable policy for my car. Good policy terms with best claim assistance. You can also try: https://bit.ly/2mwwK7U

Apex Legends · at

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