Online four-wheeler insurance has replaced the lengthy and complicated documentation previously required for insurance purchases. Now, you may quickly visit the official website of a reputable insurance company to purchase or renew auto insurance.
The steps you must take if you are purchasing insurance for the first time are as follows:
- Choose a policy type: Two types of auto insurance coverage are available in India:
- Third-party auto insurance: Third-party insurance is required by the Indian Motor Vehicle Act. This kind of policy covers only third-party losses and damages.
- Comprehensive Auto Insurance: A comprehensive policy includes both third-party and your own damage coverage.
Decide if you want a third-party or comprehensive four-wheeler insurance policy in the first place. Choose the one that’s right for you by looking at the table below.
| Features/Benefits | Third-Party Insurance Policy | Comprehensive Insurance Policy |
| Premium | The premium is lower compared to a comprehensive policy since it only covers third-party damage | The premium is comparatively higher |
| Regulation by IRDAI# | The price of a third-party insurance policy is regulated by the IRDAI. | The price can vary depending on the insurer, add-ons, and coverage that you choose. |
| Coverage* | Covers only the damages caused to any third-party or third-party property | Covers both self and third-party damage |
To further increase your protection, you can choose add-ons with comprehensive coverage. Keep in mind that each add-on increases your premium and, subsequently, car insurance prices. Here are a few add-ons you might want to think about:
- Return to Invoice (RTI) Cover
- Zero-Dep Cover
- Tyre Cover
- Engine Protection Cover
- Key Protection Cover
- No Claim Bonus Protect Cover
- Personal Loss Cover
- Roadside Assistance Cover
- Consumables Cover*
- Choose a reputable insurer and a policy: Consider these elements when evaluating insurers:
- The reputation of the insurer in the market
- The Claims Settlement Ratio
- Claim filing procedure
- Network of cashless garages
- Customer service
Many different types of 4-wheeler insurance plans are now available from the majority of the big insurers. Look through the choices and choose the one that most closely matches your needs.
- Examine policy documentation:
After choosing an insurance plan, read the policy documents carefully before continuing. Pay close attention to all of its contents and exclusions.
- Include basic details:
Make sure you have access to important papers like your RC book, driver’s licence, and the car’s original sales receipt. This is so that you may get insurance, which can ask you to enter information like the brand and type of your car, RTO, chassis number, purchase and manufacturing dates, etc.
- Obtain a duplicate of your policy:
Once you have the policy, be careful to review it to look for any errors. Verify all the information, including: Your vehicle’s make and model, engine capacity, insured name, vehicle identification number, and chassis number.
Also, remember to look for the following as well: Dates when the policy begins and ends, the car’s insured declared value (IDV), and the list of add-ons, if you’ve opted for them.
After verifying the information, print it off and keep it in your car. Additionally, you can request that the insurance provider ship the original paperwork to your registered location via courier.*
Now, you know everything you need to know to apply for car insurance. So don’t waste any time and apply for one. Use a car insurance premium calculator to help you calculate the premium and choose an ideal plan for you.
* Standard T&C Apply
#Visit the official website of IRDAI for further details.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
