Cheap Car Insurance Online: Check Affordable Car Policy Price in India

Cheap Car Insurance Online: Are you looking for affordable car insurance policies in India? With so many insurance companies and policies available, it can be overwhelming to choose the right one. But worry not, in this article, we will guide you on how to find cheap car insurance online and help you compare different policy prices in India.

Understanding Car Insurance in India

Car insurance is mandatory in India as per the Motor Vehicles Act, 1988. It protects you against financial losses that may arise due to accidents, theft, or damage caused to your car. In exchange for a premium payment, the insurance company agrees to pay for the losses incurred by the policyholder.

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Types of Car Insurance

There are three types of car insurance policies available in India:

Third-Party Car Insurance

Third-party car insurance is the minimum requirement as per the law. It covers the damages caused to third-party vehicles, property, or injury caused to third-party individuals. It does not cover the damages caused to your own car.

Comprehensive Car Insurance

Comprehensive car insurance covers damages caused to third-party vehicles or property as well as damages caused to your own car. It also provides coverage against theft, fire, or natural calamities.

Zero Depreciation Car Insurance

Zero depreciation car insurance provides full coverage against the depreciation of your car parts. It means that the insurance company will cover the entire cost of repair or replacement of car parts without any deduction for depreciation.

Personal Accident Cover

Personal accident cover provides coverage against accidental death or disability of the policyholder. It is usually included as an add-on cover in most car insurance policies.

Factors Affecting Car Insurance Premium

The premium of car insurance policies in India is calculated based on several factors, such as:

Age of the Car

The age of the car is one of the primary factors affecting the premium of car insurance policies. Older cars have a higher risk of accidents and damages, which leads to higher premiums.

Make and Model of the Car

The make and model of the car also play a crucial role in determining the premium. Cars with a higher market value or those that are more prone to theft or accidents have higher premiums.

Add-on Covers

Add-on covers such as zero depreciation, personal accident cover, or engine protection can increase the premium of car insurance policies.

No Claim Bonus (NCB)

NCB is a reward given by insurance companies to policyholders who do not make any claims during the policy period. It can reduce the premium amount by up to 50%.

How to Get Cheap Car Insurance Online?

Now that you understand the types of car insurance policies and the factors affecting the premium, here are some tips on how to get cheap car insurance online:

Compare Quotes from Different Insurance Companies

Before buying car insurance online, it is crucial to compare the policies and premiums offered by different insurance companies.

Choose the Right Type of Policy

Choosing the right type of policy can also help in getting cheap car insurance online. If you have an older car, third-party insurance may be enough. However, if you have a new car, comprehensive insurance may be a better option.

Opt for a Higher Deductible

A deductible is the amount that you agree to pay out of your pocket before the insurance company pays for the damages. Opting for a higher deductible can lower the premium of the car insurance policy.

Avail No Claim Bonus

If you have not made any claims during the policy period, you can avail of the no claim bonus. It can reduce the premium amount by up to 50%.

Install Anti-Theft Devices

Installing anti-theft devices such as car alarms or immobilizers can also help in getting cheap car insurance online. Insurance companies offer discounts on premiums for cars with anti-theft devices.

Conclusion

Buying car insurance online can be a quick and hassle-free process. By comparing quotes from different insurance companies and choosing the right type of policy, you can find affordable car insurance in India. Remember to consider the factors affecting the premium and opt for add-on covers or anti-theft devices to reduce the premium further.

FAQs

How can I compare car insurance policies online?

You can use online comparison websites to compare car insurance policies from different insurance companies.

What is a no claim bonus in car insurance?

A no claim bonus is a reward given by insurance companies to policyholders who do not make any claims during the policy period. It can reduce the premium amount by up to 50%.

What is a deductible in car insurance?

A deductible is the amount that you agree to pay out of your pocket before the insurance company pays for the damages.

Can I avail of discounts on car insurance premiums?

Yes, insurance companies offer discounts on premiums for cars with anti-theft devices or for policyholders who have not made any claims during the policy period.

Is third-party car insurance enough for an older car?

Yes, third-party car insurance may be enough for an older car. However, it is important to consider the condition of the car and the risk of accidents before choosing the type of policy.