Car Insurance Get Shield for Your Dream Car with BimaSure
If you own a vehicle in India, it is compulsory to get it insured under a valid insurance policy. Car insurance is for every car owner who wants to live without the burden of financial instability. You can get a new car insurance policy online. Gone are the days when insurance agents visited you and filled you with irrelevant and unnecessary information. We will discuss car insurance, so you save time and get the best car insurance policy for yourself.
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Buy/Renew Car Insurance Policy Online
What is Car Insurance?
Car insurance, also referred to as auto or motor insurance, is a type of insurance policy designed to safeguard both you and your vehicle from potential risks and damages arising from accidents, theft, or natural disasters. This coverage ensures financial security in the event of unforeseen circumstances, providing protection against losses and third-party liabilities.
With Bimasure you get the convenience of acquiring third-party, comprehensive, and own damage car insurance at affordable premiums through easy online processes. Whether you opt for basic, legal compliance with third-party car insurance or seek comprehensive coverage, We allow you to customise your Insured Declared Value (IDV) and choose from 10 beneficial add-ons to suit your specific needs.
Need and Importance of Car Insurance
Car insurance is not just a necessity; its significance cannot be overstated. While accidents may or may not happen, having a car insurance policy is crucial for alleviating the stress of unexpected situations. The following points highlight the importance of investing in car insurance.
Compliance with Law
Car insurance offers legal protection by covering the expenditures and legal complications that may arise in the aftermath of an accident. This ensures compliance with legal requirements and safeguards against potential legal ramifications.
Reduced Financial Liability
In case of an accident where damage occurs to another person's property or injuries are sustained, having car insurance significantly reduces the financial burden on the policyholder. Third-party car insurance is offered by insurance companies to cover such expenses
Personal Accident Cover
Car insurance provides a pre-determined sum in the event of a personal accident, offering financial support for the policyholder. Additionally, passengers are also covered according to the specified terms of the car insurance.
Financial Protection for the Family
In the unfortunate event of demise, a car insurance policy ensures that the family receives compensation. This provides crucial financial support during a difficult time, allowing family members to navigate their lives with reduced financial burdens.
Types of Car Insurance Plan
It is mandatory to have a Car insurance policy in India that offers coverage to your vehicle in case of damage caused due to an accident, theft, or natural calamities. In India, there are three main types of car insurance coverage, each serving different needs. Let's explore these options:
Comprehensive Car Insurance
This type of insurance provides complete protection against any loss or damage to the insured vehicle. It is highly preferred for private cars, offering superior coverage compared to third-party insurance.
Third-Party Car Insurance
Mandatory for new car owners under the Motor Vehicles Act of 1988, third-party insurance covers financial liabilities arising from accidents on the road, ensuring protection for the other party involved.
Own Damage Car Insurance
This coverage extends to natural disasters such as earthquakes, hurricanes, floods, riots, and more. While the premium may be higher initially, it tends to decrease over time.
Key Features of Car Insurance
The decision to invest in car insurance comes with various benefits, creating a safety net for the policyholder. Key features of buying car insurance include:
Safety Net
Car insurance acts as a safety net, providing financial support for the owner and passengers in case of injuries or damages. The insurance company covers expenses according to the policy terms.
Legal Protection
Having a car insurance policy ensures legal compliance, preventing hefty fines and potential legal consequences in case of mishaps.
Savings & Affordable Premiums
This is beneficial for policyholders who shall buy policy online. We sell insurance for cars directly to you without intermediary commissions and hence customers can Save up to 75% on car insurance premiums.
No Claim Bonus (NCB)
A significant benefit, NCB rewards policyholders who drive safely by offering discounts on the insurance premium at the time of renewal.
Personal Accident Coverage
Car insurance provides financial security in unexpected situations, covering accident-related expenses.
Stress-free Claims
Gone are the days when you had to stress over raising a car insurance claim. With features such as free pickup and drop* and claim tracking, your claims experience with us is bound to be stress-free! (*as per terms and conditions)
Hassle-Free Process
Advancements in technology enable the easy and fast purchase of car insurance online with zero paper work. This process is not only convenient but also affordable.
Cashless Garages
Our network of over 6000+ garages ensures cashless services for your car repairs
Own Damage & Third Party Damage Cover
Covers Accidents, Natural calamities, Theft, Fire & Personal Belongings Accident Cover along with damage and Injuries to Third party & Property
Key Benefits of Car Insurance
Buying car insurance online has many benefits, here are the top benefits to get a car insurance
We Shield Your Vehicle
A car is every owner's pride and joy. We will protect it against loss or damage due to theft or accident.
We Shield You
We help you be prepared for the unforeseen. You are covered by a Personal Accident Cover for a minimum of Rs.15 lakh. You can extend cover for passengers too.
We Shield Against Liability
In case you are in an accident involving a third party, the policy covers your financial liability for damage to their property upto Rs 7.5lac and Unlimited Liability for third party bodily injury or death
Peace of Mind
It also gives you peace of mind to know that your policy protects your family against monetary losses. Without insurance to cover the costs, it might be difficult to pay for repairs to your vehicle.
Our Preferred Plans
Finding the best motor insurance for car insurance can be a very stressful for any individual as there are many motor plans available in the market from various motor insurance companies. To make it easier for you, we BimaSure have compiled the list of best car insurance plans along with its key features in the table below:
Car Insurance
- Advantage with GoDigit
- 6000+Cashless Network Garage
- Settled 96% of all claims for private cars
- 24*7 customer support
- Digitally enabled processes
Coverage Benefits
- Premium starting at just ₹2094*
- Drive Less, Pay Less. Up to 25% Off on Premium.
- 10 Add-ons available
- Private accident cover upto INR 15 lakhs
- No Claim Bonus up to 50%
Car Insurance
- Advantage with Acko
- 2.8 crore+ customer insured
- 94.54% Claim Settlement Ratio*
- 24*7 customer support
- Digitally enabled processes
Coverage Benefits
- Premium starting at just ₹2094*
- Get up to 85%* off on car insurance
- Pay As You Drive Benefit
- 7+ Addons Available
- No Claim Bonus up to 50%
Car Insurance
- Advantage with HDFC ERGO
- 6400+ Cashless Network Garage
- 100% Claim Settlement Ratio*
- 1.5 Crore+ Happy Customers
- 24*7 customer support
Coverage Benefits
- Premium starting at just ₹2094*
- Overnight Vehicle Repairs
- Pay As You Drive, Kilometer Benefit
- No Claim Bonus up to 50%
- Door Step Windshield Repairs°
Car Insurance
- Advantage with Bajaj Allianz
- 7,200 + Cashless Network Garages
- 98% Claim Settlement Ratio
- 24*7 customer assistance
- Digitally enabled processes
Coverage Benefits
- Premium starting at just ₹2094*
- Spot Claims upto Rs30000/-
- Pay As you Consume
- No Claim Bonus up to 50%
- Reimbursement within 3 working days for non network garage
Car Insurance
- Advantage with ICICI Lombard
- 12000+ Cashless Garage
- 93.4% Claim Settlement Ratio
- 2.17 Crore policies issued/
- Reliable customer support
- Instant motor claims
Coverage Benefits
- Premium starting at just ₹2094*
- Doorstep cashless repair & claims process
- Kms-based plans for low mileage drivers
- 9 Add-on Covers
- No Claim Bonus up to 50%
Car Insurance
- Advantage with Kotak General
- 4200+ Cashless Network Garage
- 99% Claim Settlement Ratio
- 1.23 Crore policies issued
- 24*7 customer assistance
Coverage Benefits
- Premium starting at just ₹2094*
- Private accident cover upto INR 15 lakhs
- 6 months repair warranty
- Range of add-ons for wider coverage
- No Claim Bonus up to 50%
Car Insurance
- Advantage with SBI General
- 7000+ Cashless Network Garage
- 98% Claim Settlement Ratio
- 20.46 Crore Customers
- Customer service Assistance
Coverage Benefits
- Premium starting at just ₹2094*
- Private accident cover upto INR 15 lakhs
- Addons Available
- No Claim Bonus up to 50%
Inclusion and Exclusions in Car Insurance Plan
Motor insurance companies define inclusions and exclusions under different car insurance plans. Each type of motor insurance plan – third-party insurance, comprehensive insurance, and standalone – provides different damage facilities. Here's an overview of coverage under these plans:
Car Insurance Premium Rates
Your car insurance premium includes three major components:
1. Third-Party Liability Premium: This is stipulated by the Insurance Regulatory and Development Authority of India (IRDAI), and it is directly proportional to your car’s cubic capacity.
| Cubic Capacity | Premium with effect from 1st June 2024 (Rs.) |
|---|---|
| Not exceeding 1000 cc | ₹ 2,094 |
| Exceeding 1000 cc but not exceeding 1500 cc | ₹ 3,416 |
| Exceeding 1500 cc | ₹ 7,897 |
2. Own Damage Premium: This is calculated as IDV X [Tariff Rate] – [Discounts] + Add On Covers
3. Personal Accident Cover Premium + Additional Covers
Addons in Car Insurance
Insurance companies offer various add-ons to enhance coverage, although they may increase the premium amount. Some noteworthy add-ons include:
Zero Depreciation Cover
Ideal for cars less than 5 years old, zero depreciation cover allows you to nullify the depreciation charged on your car and its parts and gives you the full value of repairs, costs and replacements during a claim.
Engine and Gear-box Protection Cover
In a standard car insurance policy, only damages caused during the accident are covered. However, with the engine and gear-box protection cover, you can specifically cover for the life of your car (the engine and gearbox!) from any consequential damages caused post the accident.
Pay as You Drive Cover
Pay as you drive cover makes the policyholder eligible to avail discount on the premium of Own Damage cover of the base policy based on the opted plan. The option to top up kilometers is also offered under the base policy by paying additional premium.
Return to Invoice Cover
In case of theft or damages beyond repair, return to invoice add-on gives you the benefit of getting back the complete amount of your car's invoice value, including the cost of registering a new vehicle and its road tax respectively.
NCB Protector Cover
Preserves the No Claim Bonus, allowing policyholders to receive renewal discounts irrespective of any claims made during the policy period.
Roadside Assistance
Offers assistance for roadside breakdowns, including services like jumpstarts, tire changes, and fuel delivery.
Loss to Personal belongings
If the policyholder or any immediate family member suffers from any loss of personal belongings specified as per the policy when kept in the insured vehicle, it shall be compensated by the insurer.
Daily conveyance benefit
The Daily Conveyance Benefit add-on offered by insurers ensures that policyholders get compensated for daily transport in the form of a fixed daily allowance or a standby vehicle for the time when the insured vehicle is in the garage for repair.
Tyre Protect Cover
Generally, tyre damage isn't covered in standard insurance unless the damage takes place during an accident. That's why this tyre protect add-on gives you the benefit to safeguard and cover for tyre damages such as tyre bursts, bulges or cuts during all other situations possible.
Key and Lock Protect
The cost incurred by the policyholder for repairing or replacement of the lockset in the car in case of theft, loss or damage is covered by the insurer as part of the Key and Lock Protect add-on cover.
Consumables Cover
A consumable cover gives your car an additional layer of protection. It covers the cost for all your car's nitty-gritties, such as the engine oils, screws, nuts and bolts, grease, etc in an accident.
Passenger Cover
Provides financial protection for passengers in the insured vehicle, although not mandatory.
FAQ's
As the need for insurance increases, doubts and queries also increase. Navigating insurance complexities can be overwhelming.To help you with this, We have tried to address common doubts for a seamless journey with Bimasure;
Documents required for filing a private car insurance claim typically include the claim form, copy of FIR (in significant events), copy of RC, driving license, insurance documents, and a declaration of fitness.
It is advisable to renew the private car insurance policy before its expiration date. Most policies provide a grace period for renewal to avoid any lapse in coverage.
The number of claims allowed per year can vary between insurance policies. It is essential to check the policy terms and conditions for specific details on claim limits.
The Insured Declared Value (IDV) is the maximum sum insured by the insurance company in the event of total loss or theft of the insured vehicle. It is a crucial factor in determining the premium.
Cashless claim facility is a feature that allows policyholders to get their vehicle repaired at network garages without making upfront payments. The insurance company settles the repair bills directly with the garage.
No Claim Bonus (NCB) is a reward given to policyholders for not making any claims during the policy period. It results in a discount on the premium at the time of renewal.
Yes, most insurance companies provide the option to obtain a duplicate copy of the insurance policy. This can usually be done by contacting the insurance company’s customer support or accessing the online portal.
Factors influencing the choice of car insurance policy include coverage options, premium rates, add-ons, the reputation of the insurance company, and specific requirements of the policyholder.
If the private car insurance policy expires, it is crucial to renew it at the earliest. Driving without insurance is illegal, and a lapse in coverage may lead to financial and legal consequences.
A car insurance claim can be cancelled under certain circumstances, such as providing false information or fraudulent activities. However, legitimate claims are typically processed following due procedures.
Own damage car insurance covers natural calamities like earthquakes, hurricanes, floods, and more. It is advisable to check the policy terms and conditions for specific coverage details.
In case of errors in the policy document, it is recommended to contact the insurance company’s customer support immediately to rectify the mistake.
Yes, a four-wheeler insurance policy issued online is valid, provided it is purchased from a reputable and authorised insurance provider.
The time taken to settle a car insurance claim varies, but insurance companies aim to process claims efficiently. It is advisable to check with the insurance provider for specific timelines.
Policyholders can check the status of their policy by contacting the insurance company’s customer support or accessing the online portal with their policy details.
The time to receive the policy document after purchasing online can vary, but insurance companies usually send policy documents promptly via email or mail.
Yes, passengers are typically covered under the personal accident cover provided by the car insurance policy. However, it is advisable to check the policy terms for specific details.
Yes, buying or renewing a private car insurance policy online is considered safe, especially when using secure and reputable platforms.
To get a private car insurance policy from RenewBuy, visit the official website, choose the “Motor Insurance” tab, select “Car Insurance,” fill out the form, compare plans, and proceed with the online purchase.
A private car insurance policy is essential for financial protection, legal compliance, and coverage against unforeseen events, providing peace of mind while driving on the road.
