Buy Insurance For New Car Or Renew Insurance
Hitting the road in your shiny new car is exciting, but before you cruise off, ensure you have the proper insurance. For a brand-new vehicle, explore comprehensive collision coverage to shield it from accidents, theft, and other mishaps. New cars often boast advanced safety features, which can lead to discounts from your insurance provider.
Car Insurance
In the event of unanticipated events such as accidents and natural calamities, four-wheelers are protected financially by an agreement between the owner of the vehicle and the car insurance provider. This agreement is known as car insurance or four-wheeler insurance. Usually, this contract is viewed as a piece of paper that should be stored on the dashboard of the car and removed only in the unlikely event that the traffic police ask to see your documents. That's not all, though! If your four-wheeler is damaged or lost in an accident, this paper will cover the costs. Even with the greatest of caution, accidents can happen when driving and the resulting damage can be expensive.
There are several types of car insurance. Such as third-party auto insurance, which shields you against monetary losses if your insured vehicle unintentionally damages another person's property or vehicle or injures a third party. The damages to the insured car are not covered by this third-party auto insurance policy, also known as a liability-only policy. According to the Motor Vehicle Act of India, if you wish to drive your car on the road, you must have a current third-party insurance policy.
Comprehensive auto insurance is a different kind of policy that covers third-party liability as well as potential financial losses from auto accidents, theft, fire, and natural disasters like lightning, storms, floods, and cyclones, as well as man-made damages like vandalism and rioting. And not just that! Additionally, you can get Personal Accident Coverage, which will pay for any serious physical harm or, heaven forbid, injuries sustained in an accident!
Depending on your needs, you can select a stand-alone damage policy, comprehensive car insurance, or third-party car insurance when you purchase online auto insurance. To know more, click here.
Why Do You Need Car Insurance?
The Motor Vehicles Act states that owning a third-party auto insurance policy is demanded by law. As a result, every vehicle on Indian roads needs to have third-party insurance. If you don't have a valid policy, you risk breaking the law. It will cost you expensive fines for rule violations.
Theft Coverage
Your auto insurance policy can pay for the financial losses and make up for the theft of the vehicle as well as the cost of replacing or repairing any stolen automobile parts, including four-wheelers.
Factors That Affect Car Insurance
Vehicle's Age
Since older cars are more likely to experience wear and tear, your premium will rise as your car ages. A little premium reduction can be obtained by selecting a Zero Depreciation coverage for your insurance plan.
IDV
IDV stands for Insured Declared Value. Your IDV is the current value as determined by the market rate; the higher the IDV, the higher the premium. Increasing the voluntary deductible, or to put it more simply, the amount you pay out in the event of a claim, can be beneficial.
Location
Your car's location and parking history have an impact on your auto insurance cost. Your premium may be higher than average if you reside in an area where theft or vandalism is common to compensate for any potential losses.
Type of Fuel
The cost of insurance for vehicles powered by CNG and diesel is higher than that of petrol. When purchasing auto insurance online, you can quickly learn the premium amount and the type of fuel your vehicle runs on.
Safeguard From Third Party Liability
Your car might suffer major damage from floods, cyclones, storms, earthquakes, or other natural disasters, and the cost of repairs may be high. Your four-wheeler insurance cover's financial plan assists in covering these costs, keeping your vehicle safe and in good working order even in inclement weather.