Car Insurance Online

Buying a car is one thing and maintaining it is something that is completely different. The roads are some of the most uncertain places, where negligence, ignorance, carelessness or just sheer bad luck can bring about a lot of consequences to you and your car.

And as a car owner, these consequences do cost you a lot. From a small dent on the trunk to major accidents and natural disasters, a car on the road is subjected to diverse threats on a daily basis. Moreover, money is involved in every stage of the car’s recovery and safety. That’s why a car insurance policy becomes inevitable in today’s day and age.

If you haven’t taken four wheeler insurance for your car yet or if you’ve just bought a new car and are looking for a car insurance policy, here are some extensive reasons you should get one today.

Covers Expenses On Own Damage

Apart from accidents, cars can be damaged due to natural disasters, natural instances or their own technical glitches and malfunctions. Regardless of the reason, expenses are involved in getting the car serviced. That’s why it’s ideal to buy a car insurance as it covers damages arising due to uncommon reasons.

Third-party Liabilities

A car is a machine that is subjected to technical issues. A car gone out of control is a threat to civilians and public properties. If there has been an accident with you on the driver’s seat, you are bound to compensate for the damages caused. If you have a car insurance policy, your insurance company would take care of the expenses.

Personal Accidents

Having a four wheeler insurance is like driving with a lifeguard. There is a backup you have to cover the expenses incurred due to car accidents. A proper car insurance policy also compensates for permanent disability arising due to a car accident. This is an ideal financial support that is inevitable for families.

Mandatory By Law

If you are a car owner, you should mandatorily have a minimum of a third-party car insurance according to the Motor Vehicles Act. Failing to have is an offence and you could be penalized for it when caught.

Extended Benefits with Add-ons

Apart from the benefits you just saw, you could include add-on benefits such as zero depreciation cover, consumables cover, breakdown assistance, conveyance benefits and more when you buy car insurance. This only makes your policy more airtight.

Additional Convenience

An extensive online four wheeler insurance policy also allows you to experience benefits like coverage of personal baggage theft/damage, paperless-digital insurance applications and processing, online claims, spot services and more.

There are several reasons to choose Bajaj Allianz Car Insurance:

A four wheeler insurance is inevitable. If you’re looking for an ideal car insurance policy, Bajaj Allianz offers you three types of car insurance policies to choose from. Car insurance prices vary depending on their type. Based on your requirement and budget, you can choose the one that is most appropriate to you.

Let’s look at some of the types of car insurance we offer.

Comprehensive Car Insurance

This is the most complete and airtight car insurance policy you could get for your online four wheeler insurance. Apart from third-party liability, comprehensive car insurance covers own damages expenses such as burglary, explosion, flooding, water clogging and more.

A comprehensive car insurance policy offers you the liberty to include add-ons to your policy and bring in a range of extensive benefits for the protection of you and your car. This includes engine protector, personal baggage, zero depreciation, accessories cover and more.

This is the ultimate online four wheeler insurance that gives you a holistic protection from all forms of threats, dangers and consequences.

Key Benefits

• Third-party liability
• Own Damage expenses
• Options to include add-ons

Third-party Car Insurance

This is the most basic and mandatory car insurance policy you can take for your car. When you third party car insurance, you are letting us – your insurance company – take care of all legal obligations that could arise due to an accident caused by you. Your insurer will compensate for the financial losses you incur due to your accident that could be death, injury, disability, or damage to third-party life and property.

As far as the pricing of the premiums are concerned, it depends on your engine capacity. Take a look at the chart below to get an estimate of your monthly premium.

Key Benefits

• You don’t have to pay for the damages caused for your involvement in an accident.
• Your expenses would be taken care of by the insurance company when you experience damage, death or disability.

Standalone Car Insurance

When you buy car insurance, you could also look for a standalone car insurance. The expenses you incur in recovering your car from any damages to your car is covered under a standalone car insurance. There are three types of expenses you can cover with this type of insurance:

• Theft of your car
• any road accident
• mishaps due to natural calamities like floods, earthquake and more

One of the primary aspects you should understand is that a standalone car insurance does not cover any third-party liabilities. It is not comprehensive car insurance either. This is just to protect your wallet (and your car) from damages.

As you know, third-party insurance is mandatory for your car. Once you have this insurance, you could opt for a standalone insurance for your car. Similar to your comprehensive car insurance, you could also include add-ons to further make your insurance airtight.

Standalone Car Insurance Exclusions

The following expenses or damages are not covered under a standalone car insurance –

• Mechanical or electrical malfunctioning
• Your car’s depreciation
• And damages due to driving under influence

Like any other car insurance, you can buy standalone car insurance online in a few simple steps. So, if you’re looking to buy a standalone car insurance, go for one today.

Usage-based Motor Insurance

Like the name suggests, this type of car insurance policy lets you pay a premium that is based on the number of kilometres driven. This is a new class of motor insurance policy that requires you to estimate the amount of kilometre you intend to drive or are most likely to drive during your premium tenure.

This is highly beneficial for you if you don’t use your car frequently and would like to keep car insurance prices at bare minimum. There are three slabs you are required to declare one from - 2,500km, 5000km and 7,500km.

It’s simple to buy car insurance that is usage-based and all you have to do is go to the website or an app and select usage-based motor insurance option to get your car insured in three minutes.

Key Benefits

• Coverage of expenses due to own damage
• Third-party liability expenses

Car Insurance Covers After IRDAI’s New Rule

IRDAI announced a new regulation with respect to car insurance covers that came into effect August 1, 2020. According to this new rule, general insurance companies were asked to withdraw insurance packages that were long-term (3 to 5 years) on third-party liability and own-damage.

This regulation arrives modifying the announcement in 2018 that was made in favour of long-term packages. This move ensures that car owners now incur less expenses when they buy car insurance online and save further on their monthly premiums.

Here’s a table that explains the new regulation in detail.

Each car insurance policy covers a range of standalone and overlapping features. Depending on your requirements and budget, your policy coverage would change accordingly. Here is a comprehensive outlook of the plans and features covered.

While this may give you an overview of car insurance coverage, you should always check with insurance providers, to know more about your desired policy. Also, to peruse the detailed list of inclusions & exclusions, refer to the car insurance policy wordings.

There have been quite misconceptions around personal accident cover being mandatory. So, let us shed some light on this.

According to the Motor Vehicles Act of 1988, car owners and drivers are mandatorily required to have third-party liability insurance as a minimum car insurance policy. Like you know, this covers expenses on 3^rd party lives and property damages because of an involvement in an accident.

However, what also needed attention was the losses car owners or drivers incurred because of the accident. From car damages to bodily harms of drivers, the expenses were significantly high for them as well.

To decrease the financial burden for car owners and drivers, it was made mandatory for owners to have personal accident cover as well. From January 2019, the Motor Vehicles Act made it compulsory for car owners to include personal accident cover in their policy.

There are two major changes implied -

• A waiver that can be offered to car owners/drivers when they have personal accident cover in their policy with a minimum insured amount of Rs.15lacs
• The vehicle owner/driver having this personal accident cover in their policy for an existing vehicle does not have to buy a fresh insurance policy for a new vehicle

Regardless of which car insurance policy you choose, you can include personal accident cover in your policy seamlessly.

If this is the first time you are getting a care insurance policy or if you’re looking for the most suitable policy, it is vital that you completely understand the differences between a third-party policy and a comprehensive car insurance policy. The table below distinguishes between the two across several crucial factors that would help you take the right decision.

While it is important to know what features are included in four wheeler insurance, it is equally vital to understand the exclusions so you are always on the safer side of your financial conditions. The following features are excluded from a car insurance policy –

• Expenses on damages or losses when the policy is not in force
• Expenses on damages or losses that are beyond the guidelines of your car’s manufacturer
• Depreciation of your car and its spare parts
• Expenses on damages or losses due to drunk-and-driving cases
• Expenses on damages or losses due to leakage of oil
• Expenses on damages or losses due to driving without a valid licence

So, you have finally bought your dream car. You have insured it as well. You finally drive your car down to your office to share this pleasant news with your colleagues and friends. Just then a friend of yours asks you about the premium you pay every month. And when you share, he reveals that his premiums are comparatively lesser in price. Both of you have bought a car at similar times but you end up wondering how the difference in premiums stems in the first place.

It’s simple. Car insurance prices are not generic. Meaning, insurance companies do not offer a one-size-fits-all policy to their customers. A lot of factors go into consideration that directly affect or influence how much you pay as a premium for your car’s insurance.

To give you a quick idea, here are some of the most prominent factors considered.

Car Type

The make and manufacturer of your car are important factors that affect your car insurance premium. Car insurance companies maintain a separate report of claim ratios of diverse car manufacturers and their models. This is a crucial factor as car models with more claims ratio usually tend to have higher premiums.

Also, high-end and luxury cars have a significantly high four wheeler insurance premium when compared to their mid-range and low-end counterparts.

Apart from this, your car’s fuel type and accessories (or modifications) also affect your premium rates. Your insurance premium is likely to be higher if your car runs on diesel or CNG. As far as modifications are concerned, they are generally not included in an insurance policy. And you would end up paying more if you intend to insure them as well. This includes spoilers, rails, paint job and more.

Insured Declared Value

Your car has a market value set by your insurer. This is called an Insured Declared Value or IDV. Due to the regular wear and tear of spare parts and your car caused by ageing, your car loses its market value with the passage of time. This in-turn reduces your car’s IDV.

This IDV has a direct influence on your four wheeler insurance premium. The more your car’s IDV, the higher the insurance premium.

The general formula to determine your car’s IDV is this –

Insured Declared Value = your car manufacturer’s listed price or selling price – your car’s depreciation.

To the formula, add the costs you incurred in getting car accessories to your car’s selling price if you have modified your car.

To help you understand better, here is a table that shows in detail the depreciation percentage with respect to the increase in the car’s age.

Location Of Registration/Zone

Where you live or buy a car immensely influences your four wheeler insurance premium. If you live in a zone or city with prominent traffic, you are more likely to pay a higher premium. That’s why premiums tend to be higher in metropolitan and tier-2 cities, where traffic is usually high.

Type Of Coverage

The type of insurance policy you have availed for your car has a direct impact on your insurance premium. If you have chosen a basic car insurance policy like third-party insurance, your premium will be low. And if you choose a comprehensive four wheeler insurance with add-ons to ensure maximum risk coverage, you are bound to pay a higher premium.

Additional Covers

Also called add-ons, these are additional benefits you attribute to your car insurance for maximum benefits. Generally, add-ons address specific and unique aspects of car protection that are not included in an insurance policy. If you opt for engine protector, personal baggage protection, key and lock protection, 24/7 spot assistance and more to your car insurance, your premium will be higher.

No Claims Bonus

A No Claims Bonus is also known as an NCB. This is offered by your insurance company as a reward for not availing an insurance amount for a specific period of time. Depending on your insurer, this duration varies. This bonus only increases with the increase in the number of years you haven’t claimed any insurance. And this bonus can fetch you discounts on your four wheeler insurance premium, thereby decreasing the price you pay every month.

For instance, if you don’t claim insurance for two consecutive years, you are likely to get a discount of up to 25% on your insurance premium. To get an extensive idea about No Claims Bonus, check out the table below.

Voluntary Excess

Voluntary excess is when you step forward to pay extra for your car insurance to share a portion of your car’s risks. In voluntary excess, you voluntarily pay excess to your car insurance policy so that when you have to make a claim, this amount is deducted by your insurer and the remaining amount of your claim is taken care of by your insurance company. This is otherwise called deductibles. For instance, let’s assume you buy car insurance online. When buying you have paid a voluntary excess of Rs. 4500. Now when the value of your claims is Rs. 9000. Your insurance company will bear the half of the value and you the other half. The benefit of availing a voluntary excess is it allows you to get discounts on your car premiums. So, depending on this, your four wheeler insurance premium would be higher or lower. Depending on how much you have paid as an excess voluntarily, you are eligible for a specific discount slab. The table below gives you a holistic view of this.

Anti-Theft Features

Anti-theft features include any security systems or digital locks installed for an added layer of your car’s security. When you have such accessories installed, your four wheeler insurance premium is more likely to go down.

Special Discounts

There are several discounts which you can avail from your four wheeler insurance provider. When you avail such discounts, your premiums are bound to reduce comparatively. With Bajaj Allianz, you can avail the following discounts when you -

• are associated with a recognized automobile association as a member
• have anti-theft features and devices installed in your car
• have opted for voluntary excess
• coverage is specific to a particular geographical location

With our quick and simple car insurance premium calculator, you can get car insurance quotes online in seconds. To know your premium amount, just follow the steps below.

Step 1

Head to our car insurance calculator

Step 2

Enter your name & provide additional details like your existing Bajaj Allianz policy and your contact details

Step 3

Provide the registration number of your car or specify it’s a new car if your car is yet to roll out. Specify details of your car’s make, model and variant

Step 4

Mention the geographical location of your car’s registration and specify the date of registration. Mention your pin code

Step 5

Your premium would reach your email address instantly

The internet is all about experiencing convenience. The technological advancements in recent times have allowed mankind to operate vehicles from remote places and send rovers to distant planets. Buying car insurance online is not a big deal. It’s easy, user friendly and allows you to avail one in minutes.

If you have been apprehensive about buying a car insurance online, let us remind you that buying online is one of the simplest and quickest ways to insure your car. To help you get a better idea of how convenient it is. Here are some benefits of buying car insurance online.

Car Insurance Comparison

Deciding on a car insurance policy is as difficult as deciding on a car. From one showroom to another, you walk around for the best price, offers, specifications, preferred colour, deals and more and finally zero-in on one. Buying four wheeler insurance is similar to this.

You explore multiple options – from the basics to comprehensive car insurance policies with add-ons – you extensively check out plans, calculate premiums, look for discounts and more before deciding on one.

But this complexity in finding a car insurance policy is simplified by the internet as it allows you to compare car insurance policies simultaneously under your preferred parameters and instantly get an idea of which policy makes more sense and affordable. This way, you avoid going from one provider to another in search of savings and benefits.

Though an agent can offer you the details, there could be times they are biased as well. So, a computer-generated quote with no agenda is what you need. This makes buying car insurance online an ideal choice.

Completely Customizable

Like we saw, a four wheeler insurance policy is very subjective and depends on a lot of factors. From generic ones like your car manufacturer and modifications to personal decisions like options for specific add-ons and discounts, you need to tailor your insurance policy.

And buying a car insurance online is the simplest way to get an insurance policy. By simply checking on boxes and features, you can customize your insurance policy, modify add-ons and requirements, generate quotes and checkout to buy your insurance policy online.

Transparent

As far as buying car insurance online is concerned, what you see is what you get. All charges are marked on your quotes and there are no last-minute hidden charges that suddenly pop out of nowhere. You always know how much you would pay and the benefits you get for what you pay before you buy a car insurance. Besides, reading through the terms and conditions are also simple and there are several audio-visual elements to explain complex insurance-related concepts.

Convenience

Imagine you are on your way home in a cab and your car is about to arrive the next day. You immediately pull out your app or a website on your smartphone and get car insurance in a few minutes before you reach home. Buying a car insurance online is as convenient as it gets because regardless of where you are, you can get car insurance almost instantly.

Zero Agents Involved

Like we mentioned, you won’t be subjected to an agent’s bias when buying a car insurance online and regret later. With online facilities, you directly interact with your service provider and every little detail you need to know to buy insurance is provided to you. You can make informed decisions without an agent and walk away with an insurance policy that only works in your favour.

Verify Insurer’s Credibility

One of the best benefits of buying car insurance online is that you can validate your insurer’s credibility. You can explore your insurance provider’s website and review portals to look for their settlements ratio and records and see in detail how they assist their customers when it comes to claims and support. Depending on reviews and records, you can make a wise choice of going ahead with them or checking out more options.

Validity Of Policy

Online policies are as legitimate as traditionally-purchased policies. When you buy car insurance online, your copies are immediately sent to your email address you specify and become valid the moment you make your payment. You can then take a print out of your paper and document them for use. With online insurance, there is no need to feel paranoid at all.

Instantly Receive Policy

Once you make your payment, all you need to do is head to your email inbox. You would see your car insurance policy waiting right there for you. You can check for the details and print them out for use. No hassles. No interruptions. Buying car insurance online is the best.

Zero Paperwork

Imagine protecting your car and your environment from risks. That’s what happens when you buy car insurance online. There is no form-filling involved, no document submission and more. You mention your details, upload documents, and the policy reaches you as a document. End of process.

With Bajaj Allianz, you can get car insurance online in just five simple steps.

Step 1

Go to our website

Step 2

Specify the details of your car such as its model and manufacturer, variant and city

Step 3

Choose your plan that best suits your needs

Step 4

Mention the details of any existing insurance policies such as its validity, any claims made and no claims details

Step 5

Your quote is automatically generated. If you have opted for a comprehensive plan, you can include add-ons for further protection, mention your car’s IDV and see the overall price for your premiums

Step 6

Simply make the payment and instantly receive your insurance on email in seconds

Buying car insurance online is as simple as that.

The moment your car insurance is live and valid, you are eligible to make claims when an accident happens. In simple words, a motor insurance claim is when you ask your car insurance company to take charge or compensate for the damages caused due to an accident. Depending on the inclusions and exclusions in your plan, your insurer will back you up financially.

As far as third-party insurance is concerned, claims are when you call your insurer to represent you or intervene for settlements to the damages caused because of your accident to a third-party. This may be damages to life or property.

There are two types of insurance claims - cashless claims and reimbursement claims. Let’s look at both in detail and their distinct procedures.

Cashless Car Insurance Claims

In a cashless claim, you don’t have to pay for the recovery of any damage to your car out of your pocket. Your insurance provider will pay for the damages directly to your garage or workshop and take care of the entire recovery process as specified and mentioned in your car insurance policy.

Availing cashless insurance claims is easy. Simply follow the steps mentioned below:

• Call your insurance provider or visit your provider’s website or an app to register your cashless claim.
• Receive the claims registration number that is sent to you on successful registration.
• Move your damaged car to an authorized cashless garage shed to initiate the repairs. For cashless garage, you can take your vehicle only to network garages as transactions between your insurance provider and the garage happen directly.
• Submit the required documents to your surveyor.
• Once surveyed, your insurance company confirms the liability.

Reimbursement Claims Insurance Policy

In this, you have to shell out money from your wallet to recover the damages to your car. Your insurance company then intervenes and reimburses the expenses you incurred in the process after successful verification of documents and coverages.

Here’s how you can avail reimbursement claims:

• Call your insurance provider or visit your provider’s website or an app to register your reimbursement claim.
• Receive the claims registration number which is sent to you on successful registration.
• Move your damaged car to a garage near you. In this case, it is not mandatory to get your car serviced from a network authorized garage.
• Submit the required documents to your surveyor.
• Once surveyed, your insurance company confirms the liability and initiates the reimbursement procedure.

Car Insurance OTS Claims

This is the latest offering that has been made seamless because of tech intervention. OTS stands for On-The-Spot and like the name suggests, this allows you to make spot claims of your insurance.

Yes, with the OTS feature, you can now avail claims of up to Rs. 30,000 on the spot and get the amount transferred for services and recovery in 20 minutes or less.

How to Avail OTS Claims?

• Download the mobile app and sign in with your details.
• Click pictures of your damaged car and upload them to your app.
• The images will be verified and the claimed amount will reach your bank account in a very short time.

All car insurance policies have a specific duration of validity and you have to be mindful of your plan’s expiry date. This is because when your four wheeler insurance policy is expired, you are completely vulnerable to the risks involved. To secure your car and your financial standings from taking a dent, you need to ensure your insurance policies are renewed consistently. For those of you who are new to this, driving without a valid insurance is an offence as well.

So, car insurance renewal becomes all the more crucial. However, renewing your insurance policy shouldn’t be complex as you can do them instantly online. Here are some benefits you experience when you renew car insurance online.

Save Time

Similar to buying a new car insurance policy online, renewing one is time-saving, too. In just a few clicks, you can renew your policy and get it delivered directly to your inbox.

Modify Your Plans

If you require a different plan because your car has become old or if you intend to pay lesser premiums, you can do them seamlessly when renewing online. From customizing your plan to modifying existing plans, renewals can be done in the simplest of ways.

Prolong Your No Claims Bonus

When you renew, you also get to avail your no claims bonus if you haven’t availed an insurance during your previous tenure.

Post-Sales Services

Because you are extending your collaboration with your insurance provider, you also get added perks and bonuses for your continued patronage and support.

Expert Consultation

If you have any questions about your car insurance renewal or looking for better and more ideal plans, you could get in touch immediately with your insurance company’s experts and get your questions answered. Better decisions are just a call away.

Safe

Online car insurance renewals are safe and convenient. All you have to ensure is that you are renewing through a verified or credible website. The best options would be to go to your insurance provider’s official website or an app.

Similar to your brand new car, a pre-owned car requires a substantial insurance policy as well. But there are several overlapping layers attached to this as the previous owner of your car would have already gotten a valid car insurance online. If there exists an insurance, get it transferred to your name. This happens in less than two weeks.

So, when you intend to buy car insurance online for your pre-owned car, ensure to look at the following factors.

• Look for your car’s claims history as it will give you an idea of the previous claims made. Once the policy is transferred to your name, you can simply enter your policy number on your provider’s website and get the details.
• Ensure you transfer your no claims bonus to your car insurance to continue to avail benefits.
• If there is no insurance availed by the previous owner or if it has expired, you can get new insurance for your car immediately.
• Once the transfer of car insurance policy happens, make sure you check for its expiry date. If the validity of your four wheeler insurance is about to expire soon, renew it on time.

Old cars deserve equal amounts of attention and protection as do new cars. If you have purchased an old car or if you are looking for a solid insurance policy for your old car, you can get car insurance online. But Bajaj Allianz recommends paying attention to three major factors when you buy car insurance online for your old car.

Check them out below.

Insurance Type

Because you have an old car, its usage would depend on your very specific needs. So, we recommend getting an appropriate insurance policy according to your car usage requirements. If your driving is restricted to weekends or occasions, we suggest you third-party insurance which is a basic insurance policy.

If you intend to use your old car frequently and wish to have added benefits and protections for it, you could go for a comprehensive plan with add-ons.

Insured Declared Value

Or IDV, it stands for the value of your car at a given point of time. Since your car is old, your IDV is bound to be low as well. This further means that you will pay less premiums for your insurance policy. However, you could opt for add-ons and optimized protections for your car and get an insurance policy accordingly.

Add-ons

We have been constantly mentioning add-ons for your old four wheeler insurance policy. By add-ons, we refer to the additional and option protections and coverages your old car could benefit from. There are coverages that take care of expenses arising out of consumables, engine malfunctions, personal baggage losses and more. We suggest you look for options and decide accordingly. Also, because your car is old, some add-ons cannot be included as part of your policy. This includes zero-depreciation shield as your car has already exhausted the slab of five years.