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Don’t miss these important things during purchase, renewal and claim process of car insurance policies

Car Insurance

Don’t miss these important things during purchase, renewal and claim process of car insurance policies

Reported By:| Edited By: |Source: |Updated: Apr 28, 2022, 09:48 PM IST

We Indians love our cars – in the hustle and bustle of the city, these workhorses bring comfort, convenience, as well as some jazzy glamour to our lives. However, just like us humans, a good car needs good care. We take care of ourselves with diet and exercise; likewise, our loyal roadsters need their own maintenance and upkeep. The way we have health insurance to guard against, God-forbid, severe illnesses, similarly, our cars need car insurance to protect them from a variety of things: road accidents, fires, natural calamities, and other adverse events.

But wait! Before you rush to buy or renew your car insurance, take a look below, at the types of insurance policies, so you can get the best for your machine:

  • Third Party Cover: This is the most basic insurance – and legally mandatory to have for every vehicle owner. This insurance does not really protect the car; what this policy does is reimburse the claims made by third parties damaged in an accident, in which the owner of the insurance policy is deemed to be at fault. The idea behind making this policy mandatory is to ensure that third parties do not suffer due to the negligent driving of the car owner. *
  • Own-damage Insurance Cover: Owners can separately buy an own damage car insurance policy, which insures their ‘own’ car against damages in the event of an accident, theft or damage caused by nature. *
  • Comprehensive Insurance Cover: If you want to completely protect your car, then this is the policy to go for. As the name indicates, the protection is ‘comprehensive’ – includes third party damages as well as own damage. *

* Standard T&C Apply

While insurance is an effective layer of protection, many people hold the belief that it is an unnecessary expense – which, of course, is not true. Fortunately, insurance companies have been innovating to bring the best offerings to Indian customers.

Keep an eye out for the following add-ons when selecting a policy:

  • No Claim Bonus: If you feel you are a safe driver and unlikely to get into accidents, then the ‘No Claim Bonus’ is designed for you. Save on your premiums when renewing your car insurance policy (if your previous policy had no claims). Some companies have gone one step further and allowed a limited number of claims, which still allow the NCB to be in place. * Visit the official website of IRDAI for further details.
  • Zero Depreciation Cover: With this add-on, the depreciation calculation is removed, which increases the amount of claim reimbursed in case of an adverse event. *
  • Return to Invoice Cover: Let us hope you never have to use this one, but in case your car is totally damaged, this add-on allows you to recover the total on-road cost of the car. *
  • Roadside Assistance Cover: This add-on is extremely helpful – especially if you travel frequently on highways or take road trips – if your car breaks down and you are stuck, then you get assistance in towing and emergency repairs – round the clock. *
  • Other add-ons: Engine replacement cover, Tyre replacement cover, Consumables replacement cover, etc. are some other add-ons that one can look at when buying insurance. *

* Standard T&C Apply

Clearly, car insurance  helps in managing expenses and reducing distress arising from any mishap or damage to our vehicles. Before buying any policy, one must look at the insurance providers’ claims settlement ratio, the network of cashless garages, and, of course, the premiums charged. Gathering word-of-mouth information from friends and family will also be helpful. Bajaj Allianz General Insurance Company is one of the well-known names in the field of car-insurance. Bajaj Allianz General Insurance Company is at the forefront of the car-insurance market, with innovative products, best-in-class services, and a huge network of cashless garages. Better still, customers can buy the whole policy online with minimal hassles.

Don’t delay any more; the Queen of your Garage deserves the best. Buy or renew your car insurance with Bajaj Allianz General Insurance Company today!

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.


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