If you are planning on buying a car, then a car insurance policy is something that you might have certainly heard of. One thing you must note is that such a car insurance policy is a regulatory requirement, and no motor car owner can skip it. Moreover, to register your car with an RTO, an insurance policy is a mandatory requirement. Hence, you mustn’t ignore it.
While it may seem like a legal requirement, a car insurance policy offers benefits by providing financial coverage for repairs. However, you need to select the right type of policy. There are two types of plans from which you can pick—a third-party liability insurance policy or a comprehensive policy. The coverage for both these plans differs significantly and hence, its premiums also differ.
A third-party policy is the minimum prescribed insurance coverage and hence its premiums are governed by the Insurance Regulatory and Development Authority of India (IRDAI). But the same is not the case for comprehensive plans. Comprehensive policies are comprised of two components, third-party cover and own-damage cover. While third-party premiums are regulated by IRDAI, the insurance companies are free to decide the premiums for such own-damage component. Car insurance prices
are based on not one single factor, but a combination of many. Here are some of the different components based on which the own-damage premiums are decided whether you buy car insurance online or offline:
- Insured declared value
- Add-on coverages
- Engine’s cubic capacity
- Usage of vehicle (private/commercial)
- Fuel type
- Registration location
*Standard T&C Apply
How does a car insurance calculator help to avail instant quotes?
While offline policy purchase is guided either by the insurance company’s agent or its executive, an online purchase is an unguided decision. Hence, to aid your purchase, the insurance company provides the facility of a car insurance calculator. This calculator is primarily designed to provide you with an estimate of the amount of premium you will be required to pay when you choose specific policy features. But the same can also be used to compare the impact on your premium amount using different permutations and combinations based on coverage. Moreover, such comparison is also instant thereby helping you decide on the right insurance coverage before finalizing your insurance plan. Thus, a car insurance calculator not only helps compare premiums but also the different policy features with an immediate response.
How to avail online car insurance quotes instantly?
- Head over to the insurance company’s website and locate the car insurance calculator
- Here, you are required to input some primary details like the registration number of your car and your mobile number and email address.
- Followed by it, you can select the different policy features at this stage, starting with the type of insurance coverage, add-ons, and other policy specifics. Additional vehicle details like model and make of the car, its fuel type, its variant, etc. are also requested at this stage.
- Provide any claim history and details about no-claim bonus to accordingly adjust the premium calculation.
- Hit submit button and get car insurance quotes These plans are those which are suitable based on your requirements stated above. A comparison can also be made at this stage so you can avail not just pocket-friendly insurance deals, but also a comprehensive coverage.
With tools like a car insurance calculator, comparing different insurance plans for comprehensive or third party car insurance online
is a breeze. Make sure to use such features each time that help facilitate convenience and simplify your buying process.
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