1. Third Party Liability

This is one of the major aspects which is included in a car insurance policy. In situations wherein your car is involved in an accident that causes damage to the property of any third party, your policy covers the costs to be paid for their losses too. Also, in case of injury or death of a third party, your car insurance shields you from any ensuing legal liabilities.

2. Personal Accident Coverage

Another benefit of having four-wheeler insurance is that it offers cover in case of personal accidents. The amount of coverage is pre-determined. This feature provides monetary protection for personal injuries or fatalities sustained in an accident that involves the insured vehicle. The insurance policy not only covers the casualties caused to the driver but can also be used to protect other passengers up to the pre-determined amount under the car insurance plan.

NOTE: Protects passengers only if traveling as per the vehicle’s seating capacity.

3. Vehicle Repairs

Car accidents can be traumatizing. You are never truly prepared for the mental, financial, or physical after-effects. However, the overall stress on your shoulders can be reduced with a comprehensive four-wheeler insurance policy that foots the heavy bills that follow. If your vehicle suffers damage due to an accident, the insurance company assumes liability for a good deal of the expenses incurred for repairing the car.

4. Car Theft Protection

Finding your vehicle stolen can be extremely devastating. The good news is that a comprehensive car insurance plan covers car theft too. Once you file the claim, you are provided with the vehicle’s Insured Declared Value (IDV) after the car insurance company conducts their due process of inquiry.

5. No Claim Bonus Benefits

One of the major benefits of having car insurance is that you can enjoy the no claim bonus (NCB). Customers are eligible for this benefit every claim-free year. NCB makes insurance even more affordable for the policyholder and is usually given out as a discount on the premium.

6. Add-ons for Holistic Coverage

Another plus point of having vehicle/car insurance is that you can customize your car protection needs through add-ons. These add-ons truly enhance the scope of financial protection a vehicle has on the road. Here are a few popular four-wheeler insurance add-ons.

• Roadside Assistance
• Return to Invoice
• Zero Depreciation
• Passenger cover
• Engine Protection

While we cannot predict the occurrence of natural and man-made calamities, we can do our best to be prepared for them. With this in mind, the above-mentioned points prove how beneficial having a car insurance policy is. We hope this article helps you understand the importance of four-wheeler insurance today. Drive safe and take care.

To understand what a third-party motor insurance policy is, you need to know about the parties involved in an insurance policy.

• The first part is the insurance policyholder.
• The second part is the insurance company providing the insurance service.
• The third part is the beneficiary of the insurance policy.

In other words, the third party is the one who is reimbursed by the second party for the damage caused to them by the policyholder (first-party) in an accident.

The same applies to a third-party bike insurance plan as well.

Let us look at what is covered under the third-party car or bike insurance plans.

The conditions covered under this policy scheme are:

1. Reimbursement for the hospitalization costs of the third party if bodily injury is caused to them in an accident involving your insured car or bike.
2. Monetary compensation for the third party’s family in case of the third party’s death.
3. Compensation for the third party in case of permanent bodily damage to it due to the accident.
4. Reimbursement for the third party for the property damage they faced in the accident.

Let us look at how the third-party car insurance claim procedure works.

This procedure is similar for third-party bike insurance as well. It is as follows:

1. The affected third party has to file an application against the first party that caused the accident.
2. They have to lodge an FIR at a police station near the spot of the accident and register their details, that of the first party and witnesses if any.
3. They have to file a case at the motor insurance claims tribunal. The court will go through the details of the case and the documents submitted to them. The court will decide the amount of money the first party has to pay to the affected third party to cover the damages done.
4. The second party or the insurance company will pay that amount to the third party on behalf of the first party.

Note that the third-party car insurance policy does not reimburse the cost to cover the damages that the first party faced in the accident. We hope that you are now armed with knowledge about a third-party motor insurance policy and how it helps in protecting you against any natural or manmade calamities. Have a nice day!

General insurance refers to insurance products that financially protect you and the things you value. The most common types of general insurance products include health insurance, car insurance, home insurance, and travel insurance, among others.

Selecting the best general insurance company in India is as important as choosing the right policy. As policy providers in India range from industry giants to small companies, doing some homework is always a good idea. The reason behind this is that you want to be sure you can rely on the insurance company you choose. So, how do you know if a particular insurance company is the right one for you? Here are a few tips to guide you in selecting the best general insurance company in India.

1. Check the company’s reputation

It is important to understand the insurance company’s reputation to know how well they serve their customers and honour claims. One of the most effective ways of evaluating an insurance provider is by going online and checking out customer reviews. This will give you a fair idea of the company’s standing. To know a bit more about the provider, you can also read their ‘About Us’ section that describes their years in business, the types of products they sell, and a lot more to help you decide whether that provider is well suited for your needs or not.

2. Inspect the claim settlement ratio

In case you have to make a claim, you would not want it to get rejected. Hence, it is important to do a quick background check on the provider’s claim settlement ratio, ratings, and choose the one with the best record. This information is easily available online.

3. Get maximum coverage

Proper coverage is essential and can save the day when things go wrong. Always choose the insurance company that provides the maximum coverage for your business or personal needs. For instance, if you are buying car insurance, choose a provider who offers roadside assistance, a wide network of garages, and cashless service as part of their plans. With health insurance, look for benefits such as a free health screening.

1. Opt for affordable pricing

Different insurance companies have varying premium rates, depending on the policy that you choose and their reputation. So, choose a company whose premiums fall within your budget. Also note that when you decide to take insurance through an agent, you may have to pay additional commission while purchasing a policy. This adds to your premium and can get a little heavy on the pocket. So even as you search for the best general insurance company in India, make sure you can afford the final cost.

5. Look for ease in doing business

Understand the company’s customer servicing and how easy it is to reach out to them. Do they have facilities for online bill payments, claim reporting, policy changes, and a 24/7 helpline service? If the answer to all these is a yes, then you should definitely buy a policy from them.

We hope this article will help you in your search for the best general insurance company in India. Take care and good luck!

Purchasing an insurance plan online has many benefits when compared to purchasing insurance through an insurance agent. The online process consumes less time, needs minimal or zero paperwork, and gives you huge discounts on the premium rates. Most car owners prefer purchasing insurance offline because they feel online processes are difficult to comprehend and can expose them to fraudulent activity. This might not always be true. If you want to buy online car insurance you need to consider a few things that will make the process easy and relevant.

The following article will help you in understanding the important factors you should consider when purchasing car insurance online;

Assess Your Requirements:

This is the first and very important step in the process of purchasing insurance for your car. Depending on your daily usage of the car, type of your car, your affordability in terms of premium rates you should decide whether you want to purchase full-fledged insurance coverage or a basic coverage plan. It is always easy to find the right insurance plan when you know what exactly are your needs.

Perform Research and Compare:

Once you know your requirements, you should do ground research about the different insurance companies available in the market. Now compare the types of plans offered by these companies, their premium rates, coverage, additional benefits and discounts offered, and their claim settlement ratio. Look for companies that offer plans meeting your requirements at an affordable premium rate. Also, when you buy online car insurance try to look beyond the cheapest premium rates, while you look for the cheapest premium, you may end up buying a plan that will cost you more in the long run through exclusions. Although a few insurance plans offer the cheapest premium, the plans will have hidden sub-limits and deductibles which will cost you a lot of money over the period.

Check For Different Add-on Covers:

Additional covers increase the strength of the basic car insurance plans. Adding these to your insurance plan will provide complete coverage against different perils such as engine damage, or damages caused as a result of oil spilling, and benefits such as No Claim Bonus, etc. Add-ons cost approximately 10 to 20 % more than the regular premium rates, hence do not buy additional covers that are not necessary for you.

Read The Policy Wordings Thoroughly:

Before you buy online car insurance and make any payment, ensure that you have read and understood the policy wordings thoroughly. This is an important step as it helps you to know what is the coverage provided under the plan, what are the exclusions of the policy, and the claim settlement process.

In-network Garages:

The insurance providers offer cashless repair services in their in-network garages. In case of small wear and tear or repairs, you can visit these garages and avail cashless service. Check the list of in-network garages offered by the insurer before you buy car insurance online. This will help you in understanding whether the cashless service benefit is useful for you or not. If there are a fewer number of garages in the network or in your locality, then this benefit may not be completely useful for you.

Do Not Fill Incorrect Information in The Form:

The application form for insurance involves personal details such as name, phone numbers, address, car details, etc. Make sure you fill in all the information correctly. If the insurance provider finds out that the information on your application form is fake or incorrect, your application will be rejected straight away!

Follow these steps to buy online car insurance in a secure manner. You can also get car insurance renewal online in a similar manner. Always remember it is better to be insured then regret later. Do not rush, while buying the insurance plans. Take an informed decision only after comparing, understanding, and analyzing the policy wordings.