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12 Steps To Easily Buying Car Insurance Online

Introduction

Car insurance protects your car, third party and covers all the expenses related to it in times of accident or injury. The scope of car insurance online can depend on the policy chosen, such as –

  • Third-Party Insurance
  • Standalone Own Damage
  • Comprehensive Car Insurance

Third-Party car insurance only covers the cost of injuries and damage of the third party’s vehicle in the incident. The scope of insurance does not cover the cost of personal harm or loss.

Standalone Own Damage is the damage to the car that might be due to natural calamities, road accidents, fire hazards, theft, explosion or any other man-made issue.

While the Comprehensive car insurance online covers both the characteristics of the third party car insurance and the Standalone Own Damage where the damage to the third party and the damage to self is covered, there are also additional add ons which can be availed with the comprehensive insurance cover such as –

  • Zero depreciation add-on cover: The depreciation value is not deducted when you claim the insurance.
  • Roadside assistance (24×7) cover: Where you can get an online executive to help you out with nearby garages or the problem dealing with the car breakdown.
  • Passenger assistance cover: This covers the finances incurred to the passenger due to the incident.
  • Return to invoice: If the vehicle gets stolen, you can get the exact amount of purchase as the claim in the insurance without any deduction.
  • Consumable cover: This covers all the consumables required to get replaced during or after the incident.
  • No-claim bonus: The insurance company provides the bonus for all the claim-free years of the insurance duration.

The things which are not covered are as follows:

  • If the incident happened under the influence of alcohol or drugs
  • If the driver was driving without a driving licenses
  • Consequential damages which occur as after effect of the incident

Things to Keep in Mind Before Buying Car Insurance Online

  • The IDV value of the car, which is your declared value, will directly affect the insurance premium and the claim amount.
  • Does the insurance company provide proper car roadside assistance support? Because in the time of need, that car assistance is one of the most important things one needs.
  • Do check the claim process, as many insurance policies have a hectic claiming process while some may have a smooth process.
  • Before buying the insurance, always check the claim settlement ratio of the insurance company.
  • Always compare the insurance of various companies to get the perfect insurance which will cater to your needs.

What are the Benefits of Buying Car Insurance Online?

  • You can buy the insurance at your convenience and from the comfort of your home. You need not specifically take time out and visit the insurance agent for the same.
  • You can easily compare various insurance policies, coverage, add-ons and other factors online and take time to find the right one.
  • The online process is quite simple and self-explanatory, enabling you to buy the insurance within minutes.
  • The payment process of car insurance online is secure and instant, which will protect you from fraud.
  • The insurance documents are available at a single click after buying the insurance – you do not need to wait for the documents to arrive at your doorstep. You can immediately download the insurance policy.

Steps to Purchase Car Insurance Online

  1. Many insurance companies provide a “Free Quote” for car insurance, showing the insurance premium, value, and claim of the car.
  2. Choose one which has a higher IDV. The premium may be on the higher side but if one goes for lower premium options, keep in mind that the IDV of the same will also be quite low in comparison.
  3. After comparison, select the car insurance you need to get
  4. Visit the insurance website of the company, where you need to select the “Car Insurance” option.
  5. You will be asked to fill in a few details of the car as in the registration number, the city where the car is located and the contact details.
  6. Select the type of policy you want, such as Comprehensive, Third Party or Standalone.
  7. The process will show you the basic premium. Select the add-on covers required with the car insurance, and the premium amount will increase with the add-ons.
  8. Once comfortable with the quoted premium by the insurance company, you can fill in the personal details and upload the necessary documents required by the insurance company, such as KYC documents and the car invoice.
  9. After successful submission of all the documents, the insurance company will guide you to the payment portal to pay the insurance premium.
  10. Complete the payment process.
  11. After successful payment, a receipt of the payment will be generated along with the insurance policy, which you can download and keep securely.
  12. Also, the insurance company will send a physical copy of the document to your registered address.

Conclusion

Buying car insurance online is easy and efficient. It simplifies the whole process of buying the insurance with fewer documents and secures it with an efficient online payment process. It caters to your satisfaction of getting insurance protection after proper comparison and getting add-ons according to your needs.