How to choose the best car insurance company in India

Everyone wants to own a car nowadays as it is one of the best means of transport on road be it personal use or family use, many people even believe that it also shows an uplift in the financial status of a person. In India most people belong to financial mediocrity and cannot even afford to buy a car on down payment, they usually go for car loans to get one. Importance of Car Insurance here is quite clear from this fact. People are generally looking for the best car insurance company in India.

What to look for carefully:

Car policy generally covers the loss in case of theft, scratch or accidents. Your premium amount of car insurance is directly dependent upon IDV i.e. Insurer’s Declared Value, so one need to be very careful while choosing an appropriate and adequate insurance plan. Many Insurers are providing Towing facility, Depreciation as value added services nowadays, so it is wise to read all the terms and conditions on the car insurance information brochure beforehand.

Some of the companies claiming themselves to be the best car insurance company in India also award bonuses to policy holders at the end of each year when no claims of policy of policy has been done throughout the year.

Generally the plans offered by car insurance companies can be divided into two major categories:

Third Party Car Insurance: Covers damage to property, accidental death or an injury to third party.

Comprehensive package car insurance: Most people prefer it as it covers, personal accidents, legal liability of third party, theft or damage.

Car Insurance generally can be claimed under the following condition:

  • For damage or loss caused to the insured vehicle due to theft, accident, act of terrorism.
  • If the car gets ignited on its own, explosion, fire, strikes, riots, any unforeseen natural disaster like cyclones, lightning etc.
  • If Driver (Owner) gets into accident.
  • If the insured vehicle is involved in any kind of accident or death of any third person or else any kind of property damage suffered by them, any kind of legal formalities in these cases too.

Car Insurance cannot be claimed:

  • In case the insured vehicle, is driven by person without valid driving license.
  • Car manufacturer’s guidelines are not followed by user.
  • For degrading of vehicle with time gradually.
  • Due to oil leakage or the insured person is under influence of any kind of drugs, alcohol etc.
  • Loss of engine or any kind of damages to engine.
  • Loss or damage if policy is not in force or has been outdated and depreciation.

However, the experts recommend getting a comprehensive insurance plan to ensure complete protection for your prized possession. This plan is precisely devised to cover a vehicle the loss/ damage caused by you to a third party and loss /damage caused to your vehicle by natural/manmade calamities. Additionally, the insurance company offers many valuable add-ons on the basic policy to ensure more effective cover for their customers.

In India, you will be offered three main types of Car Insurance:

  • Private Car Insurance
  • Commercial Vehicle Insurance
  • Two Wheeler Insurance

Disclaimer: The opinions expressed in this article are the personal views of the author. CarSaleIndia is not responsible for the accuracy, completeness, suitability, or validity of any information on this article.


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