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Car insurance is an obligatory policy to buy when purchasing a car, and this contract financially protects your car in the event of an accident. When you're driving, no matter how cautious you are, there's always the possibility of an accident and high repair fees. The point is to do your utmost to get the best car insurance policy and you can do it by comparing different plans.

You should look for your car insurance policy online, as it is easy and convenient. We will discuss many benefits later, but let us examine car insurance's importance first.

Importance of Car Insurance

Since car insurance is mandatory, its importance is of the highest order. Accidents may happen or may not, but having car insurance lifts your burden of being in an uncanny situation. Here are some points that will let us know the importance of car insurance.

01

Lower Liability

Having car insurance lowers your burden if you are involved in an accident wherein you damaged someone’s car or the person himself. Thus, car insurance lowers the liability. The car insurance companies offer third-party car insurance to ensure that your expenses are covered.

02

Legally Safe

A car insurance policy keeps you away from legal obligations arising from any mishap. The car insurance company will cover the expenses and the legal issues.

03

Personal Accident Cover

One of the importance of having car insurance is getting a pre-determined amount from the insurance company in case of a personal accident. Also, passengers will get the cover as mentioned under the policy.

04

In the case of demise, the family receives compensation

This unfortunate event can leave a burden on your family. But, car insurance covers your family members too, so they can continue living their life with fewer money problems to consider.

Types of Car Insurance

In India, you will have three types of car insurance that will cover your damages, and people choose according to their preferences. So, let us inspect the different types of car insurance in India.

01

Third-Party Car Insurance

Under the Motor Vehicles Act, 1988, an owner of a new car is obligated to buy third-party car insurance. A car insurance policy financially covers you from damages caused on the road. There are many websites that you check to compare car insurance online.

02

Own Damage Car Insurance

It will also get damaged when buying a car. Own damage car insurance covers the damages caused by nature such as earthquakes, storms, floods, riots, terror attacks, etc. In the early stages, the premium will be high, but it will reduce after some time.

03

Comprehensive Car Insurance

When discussing comprehensive car insurance in motor insurance for private cars, you will be covered entirely in case of any loss or damage. This four-wheeler insurance is the most preferred plan out there. When you compare comprehensive car insurance to third-party vehicle insurance, it's clear that comprehensive is the better option.

Need for Comparing Car Insurance Online

When shopping, you get multiple options from different brands. So, the term comparison comes forward. While buying car insurance, you get different options from different insurance companies. Therefore, comparing car insurance online makes it easy and convenient. The following are some of the advantages of comparing car insurance policies online.

01

Great Value

Budget plays a vital role in buying car insurance. You must buy the best car insurance following the budget that caters to your needs. In the case of a low budget, third-party car insurance is all you need, but a comprehensive car insurance plan will suit you better if you can afford more. So, choose wisely.

02

Coverage

Comparisons will determine which car insurance policy suits your needs best. New car insurance must be able to offer appropriate coverage. Comprehensive policies will always give you the most compared to third-party car insurance, but that is not the point because every policyholder has different needs.

03

Superior Service

Buying a car insurance policy is difficult, and many insurance companies have different plans. By comparing car insurance online, you can look at the policies that will offer a better service to you. It's always better to go with an insurance company with a massive network in the country.

04

Satisfaction Guaranteed

When comparing different insurance policies online, you get an idea of what you are looking at. The process is satisfactory, as you get the best insurance policy.

Benefits of Comparing Car Insurance Online

Car insurance policies are like a treasure, but you need to find the best reward. But how would you find the best car insurance policy? By comparing. So, here are the benefits of comparing car insurance online.

01

Save on Premium

Many car insurance companies offer different plans to attract you. But, finding the best car insurance policy without compromising coverage and keeping the premium low is a task. So, by comparing car insurance policies online, you get much clarity. You can also estimate the premium by using the car insurance calculator.

02

Simple Claim Settlements

In an insurance company with the widest network of garages in the country, a better claim settlement ratio can be compared online, which will help you get the best insurance policy.

03

Insurance Policy with Better Coverage

Many insurance companies offer similar coverage benefits. By comparing online, you can look at the add-ons and other features you will get once you buy the car insurance policy.

04

Easy Procedure

Comparing car insurance online is one of the most straightforward procedures. Offline mode is hectic and agents give you less information about the insurance product. Also, you get all the policy documents, contracts etc., at your fingertips.

Factors to be Considered While Comparing Car Insurance Policies Online

Before comparing the policies, it's crucial to look at the factors involved in the decision-making process under private four-wheeler insurance.

01

Cost

Everything comes with a cost. So, investing in a policy will keep the cost low and benefits highest is crucial. When buying new car insurance online, consider looking at a plan that gives you the best.

02

Reviews

These days, it's all about the reviews. Whenever you go online, you find many reviews that give you an impression of how good the product is and how well it will suit your needs. While checking the best car insurance policy for yourself, check customer reviews before hitting the buy button.

03

Age of your Car

One of the most important factors when choosing a new car insurance policy. The IDV depends on the car’s market value. So, the older car, the lower value, will lead to a lower premium & sum assured. When determining the price, motor insurance companies in India often look at the condition of your vehicle.

04

Coverage

Understanding your driving habit is essential while choosing a car insurance plan. You will understand the importance of add-ons that eventually can lower or increase the premium when you do.

05

Read the car insurance policy thoroughly

Most of the time, we do not look at the details in the insurance contract, which can lead to miscommunication with the insurance company at the time of claim. So, read the contract thoroughly to avoid claim rejection.

How to Compare Car Insurance

With the latest tech upgrades, you can easily compare car insurance on various websites. With a site like D2C Insurance Broking Private Limited (“RenewBuy”), you can get aggregate level information all collated conveniently on a single page.

Reasons to go with Renewbuy

01

Most Relevant Listings

The objective is to create a clear system for listing car insurance companies based on individual consumer demands so that all terms, pricing, and unique information are given. This simplifies the purchasing choice for people who wants to compare it.

02

Focus on Accuracy

The quality and relevancy of the listings given are the most important aspects of your car insurance comparison procedure. For the advantage of our clients, we keep the most recent and up-to-date information.

03

Easy on the Eyes

The simple structure and smooth interface allow you compare car insurance in less time. You can compare car insurance policies from several insurance companies on one page.

04

Customer-Centric Servicing

Our unwavering commitment to providing you with all-around convenience is well-known. Our customer service team will respond to any questions you may have about obtaining car insurance online.

Car Insurance Comparison Checklist:

We have curated a comparison checklist to understand India's various car insurance plans better.

Best Comprehensive Plans in India 2022

Name of the Company Features Cashless Garages
HDFC ERGO General Insurance
  • No Claim Bonus up to 50%
  • Car insurance premium starts at INR 2072*
  • Private accidents cover upto INR 15 lakhs
  • CSR 70.02
7900+
ICICI Lombard General Insurance
  • Private accidents cover upto INR 15 lakhs
  • No Claim Bonus upto 50%
  • Premium starts at INR 2072*
  • CSR 65.77
4800+
ROYALSUNDARAM ALLIANCE Insurance CO. Ltd.
  • Private accidents cover upto INR 15 lakhs
  • Digitally enabled m-chatra app
  • No Claim Bonus up to 50%
  • CSR 87.89
3300+
New India Assurance
  • Private accidents cover up to INR 15 lakhs
  • No Claim Bonus up to 50%
  • CSR 78.20
253
Reliance General Insurance
  • Private accidents cover up to INR 15 lakhs
  • No Claim Bonus up to 50%
  • CSR 76.89
5000+

*Disclaimer: We RenewBuy does not endorse any specific insurance company or insurance product offered by any insurer and this list is just an illustration of the plan offered by different general insurance companies Data has been sourced from IRDAI Annual Report FY 2020-21

Best Third-Party Plans in India 2022

Name of the Company Features Cashless Garages
Digit Insurance
  • Premium rates starting at INR 2094
  • Personal accidents cover upto INR 15 lakhs
  • CSR 74.91
5800+
HDFC ERGO General Insurance
  • Car insurance premium starts at INR 2072*
  • Personal accidents cover upto INR 15 lakhs
  • CSR 70.02
7900+
IFFCO TOKIO General Insurance
  • Personal accidents cover upto INR 15 lakhs
  • in-app claim settlement within 4 Hours
  • CSR 84.04
4300+
Reliance General Insurance
  • Personal accidents cover upto INR 15 lakhs
  • CSR 76.89
5000+
ROYALSUNDARAM ALLIANCE Insurance CO. Ltd.
  • Personal accidents cover upto INR 15 lakhs
  • Digitally enabled m-chatra app
  • CSR 87.89
3300+

*Disclaimer: We RenewBuy does not endorse any specific insurance company or insurance product offered by any insurer and this list is just an illustration of the plan offered by different General insurance companies Data has been sourced from IRDAI Annual Report FY 2020-21