For most of you purchasing a car is a dream. You work really hard for it and save up for a few years before finally making the purchase. Since you worked so hard to purchase a car, it is also your responsibility to safeguard the car at all times. In order to efficiently do this, you need a car insurance. In this digital age, purchasing a car insurance online in 2018 is an easy task.
There are basically two types of car insurance policies available in India:
a) Third Party insurance
All the expenses incurred by the third party involved in the accident is compensated by the insurance company in this type of insurance policy. This includes the injuries suffered by the person as well as the damages caused to their vehicle. Usually, an additional personal accident cover for the owner is also included in the insurance policy.
b) Comprehensive insurance
In a comprehensive insurance, all the features in the third party insurance are included and the insurance company will also pay you for the repair charges required to fix your vehicle.
Advantages of Buying Car Insurance Online
1) Convenience
A few years back, you had to visit the insurance company’s office to know more about the insurance policy and also to purchase/renew the insurance. Now, you can get all the required information online from the comfort of your home.
2) Brokerage Fee
There are no brokers involved when you purchase an insurance online. This way, you can also save money as you need not pay any commission.
3) Saves Time
A car insurance online in India can be purchased within minutes if you are able to provide accurate details about your car. This saves time as you need not spend hours or days to receive your insurance document.
4) Informed Decision
Before purchasing car insurance online this year, you need to compare the various insurance policies available in the market. This way, you will be aware of the various features, inclusions, and exclusions offered by different general insurance companies. After conducting a thorough research, you will be able to make an informed decision on purchasing a car insurance online that suits all your requirements. Websites like Coverfox.com enable you to compare, purchase, and renew insurance policies with ease.
5) Payment Options
Unlike offline methods, where you will have to pay the insurance premium by cash or cheque, in online methods, you will be able to make the payment using your credit/debit card, net banking, and other payment wallets.
6) Reviews
You can also read the reviews by various users online to understand their experience with a particular insurance company. It is easy to find various detailed reviews about a particular insurance policy online.
Third Party Car Insurance Online
You can purchase a third party car insurance policy from the insurance company’s website or other third party websites. Although there are many insurance policies in India, the best amongst these are:
1) Bajaj Allianz General Insurance Co. Ltd.
Bajaj Allianz General Insurance is one of the leading players for general insurance policies. They are also the pioneers of various services such as cashless claim settlements, customer satisfaction, and beneficial features in the car insurance policy. The benefits of a third party insurance from Bajaj Allianz are:
- a) Quick claim process.
- b) Personal accident cover for the owner and other travellers.
- c) Zero accountability if the third party is seriously injured or passes away due to the accident.
2) HDFC ERGO
HDFC Ergo is known for their high claim to settlement ratio and quick customer service. They offer different types of car insurance policies which enables you to choose the one that completes all your requirements. A third party car insurance policy from HDFC Ergo has the following benefits:
- a) Zero documentation
- b) Transparent claim-settlement procedures
- c) Round the clock support
- d) Trusted service
You can view more benefits, inclusions, and other features of both these third-party insurance policies online.
An Essential Purchase
In India, you are required by the law to have a valid insurance for your car. Hence, it is imperative that you buy an insurance when you purchase the car. The inclusions and features included in the car insurance policy will help you in case of an accident or burglary. All the hospital bills and other medical expenses will be covered by the insurance company if you have opted for a personal accident cover while purchasing the vehicle insurance. In case of a burglary, the insurance company will compensate you based on the present market value of the car. Therefore, a car insurance policy is an essential purchase when you buy a car.
