Car insurance

Welcome to your car insurance journey!

Car insurance, also known as four-wheeler insurance, is a vital agreement between a car owner and an insurance provider. It provides protection for your vehicle against financial losses caused by unforeseen events such as accidents and natural calamities. While many view it as a piece of paper to be kept in the dashboard and shown only when required, its true value lies in the financial protection it offers in the event of damage or loss due to accidents. No matter how careful you are on the road, accidents can happen, and repair bills can be hefty.

Types of Car Insurance Policies

  1. Third-Party Car Insurance: This policy protects you from financial implications if your insured car accidentally causes damage to a third-party vehicle/property or injuries to a third-party person. In India, having a valid third-party insurance policy is compulsory under the Motor Vehicle Act if you want to take your car on the road.
  2. Comprehensive Car Insurance: This policy not only covers third-party liability but also provides financial protection for your car against accidents, theft, fire, and natural disasters such as lightning, storms, floods, and cyclones. You can also avail of a Personal Accident Cover with this policy, which covers injuries or severe physical damage incurred in an accident.

Why Do You Need Car Insurance?

Car insurance is necessary to protect your car and yourself from various situations and scenarios that lead to financial damages. Some reasons why you need a third-party or comprehensive four-wheeler insurance policy are:

  • Compliance with the law: Having a third-party car insurance policy is compulsory by law under the Motor Vehicles Act.
  • Protection from third-party liability: Covers accidental damage to a third party or their property.
  • Cover against theft: Covers the financial damages if your car or its parts are stolen.
  • Protection against financial losses: Covers damages from accidents, vandalism, or natural disasters.
  • Cover against natural calamities: Covers damages from floods, cyclones, storms, earthquakes, etc.
  • Personal Accident Cover: Covers injuries or severe physical damage incurred in an accident.

Factors Affecting Car Insurance Premium:

  • Insured Declared Value (IDV)
  • Age of the Car
  • Insurance Coverage
  • Add-ons
  • Engine Capacity
  • Deductible
  • Claims History