Gone are the days where one would have approached visited car insurance branch or insurance agent physically to buy a car insurance policy. These days one can purchase a car insurance plan and with few clicks would be able to buy online. If you are looking at the process on how to buy car insurance policy, this article would help you. How to Buy a Car Insurance Policy Online in India?
What is Car Insurance?
Car insurance provides financial assistance for the damage done to the car due to accident as well as provide third party liabilities that arise further. This can help you to protect your savings.
Third party liability insurance is mandatory in India as per Motor Vehicles act 1988. If there is no car insurance, one would be fined with high penalty with imprisonment.
Benefits of Car Insurance Plan
Here are key benefits of buying a car insurance plan.
1) Provide financial assistance in case of damage due to accident
2) Personal accident coverage
3) Provide third party liability insurance
4) Get repairs done with a wide range of network of garages
5) Car insurance is mandated by law, else one need to pay a penalty with imprisonment.
How to buy a Car Insurance Policy Online in India?
Here is the step by step process of buying a car insurance online in India.
#1 – Choose a best car insurance plan
There are several car insurance plans in India. Some of them offer unique benefits in such policies. One should choose a good insurance company based on below parameters:
- Best Customer service
- Company that is quoting competitive pricing on car insurance premium
- Which is giving adequate coverage of the policy
#2 – Pick-up Comprehensive Car Insurance
There are two variants of car insurance provide by insurance companies. Choose it wisely.
- Third party insurance – In this car insurance plan, it provides damages to third party only. This plan is floated as it is mandated by law in India. One should always avoid this variant of car insurance plan as it does not cover own vehicle damage.
- Comprehensive Car Insurance – In this type of car insurance, it provides damages to third parties as well as to own car damages. You can opt for add-ons based on your need. This is generally considered by most of us as it contains comprehensive features.
#3 – Check what documents are required
Since you understood which type of car insurance plan you want to take and finalized the car insurance plan based on coverage, company insurance name etc., now you need to have the list of documents that are required to buy car insurance plan online. Get these documents before you initiate it online.
- Vehicle registration number (RC) or temporary vehicle registration number (if it is new)
- Vehicle details like model name, year of manufacturing etc.,
- ID Proof, address proof and recent photographs (if demanded)
- Preferred car insurance plan details
- Add-on coverage details which you wanted to opt
#4 – Buy Car Insurance Plan directly on insurance website
Once you have all the documents required, you can open the car insurance company website, enter details, set the Insured Declared Value (IDV), consider appropriate add-ons, make the payment, get the receipt etc.,
Insurance company might call you in case additional documents are required. If everything is okay car insurance policy is issued and you would get policy document on your registered email ID and intimation on your registered mobile number.
The process of buying a car insurance policy online in is simple provided you understand how to choose a good car insurance plan, what add-ons needs to be added and what documents are required. Understanding this step by step process would ease the entire process.
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