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Tips for Car Insurance First-Time Renewal
Jul 23, 2020

5 Things to Know If You’re Renewing Your Car Insurance for the First Time

In India, having a car insurance policy is mandatory. It is compulsory to at least have a third party liability insurance for your car, which can safeguard you from any legal liabilities arising out of an accident caused by your car which causes damage to third parties (people/property). Recently IRDAI (Insurance Regulatory and Development Authority of India) announced some changes in this TP cover. An important point to note here is that the TP cover provides coverage only for the legal liabilities towards third parties (people/property) and the death or permanent disability of the owner/driver. However, other incidents such as damage to your car due to natural perils or activities such as theft, burglary, and accident can be covered by a comprehensive four wheeler insurance .

Getting a comprehensive car insurance policy

There are three ways to get a car insurance plan:
  1. Offline with the help of an agent
  2. Offline by visiting the branch office of the insurance company nearest to you
  3. Online by visiting the official website of the insurance company

Apply for Private Car Insurance Online

To apply for car insurance online, you can follow the steps mentioned below:
  1. Visit the official website of various insurance companies and compare the features, benefits, coverages & the premium rates of the car insurance plans offered by each of them.
  2. On Bajaj Allianz's website, you can use our free insurance calculator to generate your car insurance prices . You can also retrieve this quote at your leisure whenever you need it.
  3. Once you finalize the insurance company, you need to duly fill in the proposal form, which can be obtained online.
  4. You will be required to provide the following details for purchasing a private car insurance policy online:
    1. Your name and contact number
    2. Information about your car such as its make, model, sub-type, engine number, chassis number, CC, fuel type, manufacturing year, registration date and registration city.
    3. You can also opt for add-on covers, which suit your requirements.
  5. You can then check the IDV (Insured's Declared Value) and select the duration of your OD (Own Damage) cover. The TP (Third Party) cover is applicable for 3 years, as per the new rules of IRDAI.
  6. You can also choose the voluntary deductible.
  7. After submitting all the details. You should check your final premium amount and make the payment.
  8. Once the payment is done, you will receive the softcopy of your policy document on your registered mail ID.
  9. Also, a hardcopy of the policy document will be sent to your official communication address.
Buying a car insurance policy online is more convenient in today's world, as it takes less time and provides a whole lot of information about car insurance at your fingertips.   *Standard T&C apply Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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