Suraha
Awesome thing
14 Apr 2021
If you have a car, you do need car insurance. A comprehensive car insurance plan is your car’s best friend. It will protect you and your car in case of a road accident. As an added bonus, your car is also protected from theft and third party damages. A third party is a person who is involved in an accident with you. He/she has every right to file a legal case against you.
When you look at all the facts mentioned above, these instances can happen to your car at any given day. So why take the risk? Get yourself the best online car insurance today on Coverfox - India’s largest digital insurance broker and one of the best top insurance comparison sites. It is time to say goodbye to your old car insurance and buy new car insurance today!
Disclaimer - Above mentioned prices are for a 2 years old Maruti Wagon R, 1.2 VXI AMT OPT (1197 CC) registered in Mumbai & previous policy has expired.
It is absolutely necessary to buy an insurance plan for your car. You can’t keep your car unsafe all the time. Those roads are dangerous! Here are five reasons to buy car insurance.
There are 3 types of car insurance plans in India. Let us break them down for you.
Third Party Car Insurance
Comprehensive Car Insurance
Note: The term ‘IDV’ refers to the maximum claim your insurer will pay if your vehicle is damaged beyond repair or is stolen. Suppose the Insured Declared Value (IDV) of your car is Rs. 8 lakhs while the purchase price was Rs. 10 lakhs, the insurer will disburse a maximum amount of Rs. 8 lakhs.
Pay As You Drive Insurance
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You must have come across this term quite often when looking for car insurance. Add-ons or additional riders are nothing but added benefits to your existing policy. There are many things which are not covered under your comprehensive policy. This is when you need an add-on.
Here is a list of common add-ons which you can buy at the cost of additional premium.
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This add-on is for the repair or replacement expenses of plastic, rubber, glass, and other materials which are not covered in a regular policy. |
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This add-on protects the car engine in cases of flooding. |
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This add-on provides a discounted premium on your no-claim bonus year-on-year. |
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This add-on pays the car's invoice value i.e. on-road price instead of the Insured Declared Value, in case of total loss or theft. |
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Other add-ons |
Include Vehicle Reimbursement, Personal Accident Cover, Rental Replacement, Key Replacement Cover, Cost of Consumable Items, Roadside Assistance, Downtown Protection, etc. |
Here is a list of things which are covered/not covered in a car plan.
Inclusions:
Exclusions:
| Feature | Third-Party | Comprehensive |
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| Damage to a third-party vehicle |
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| Own Damage |
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| Theft |
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| Damage due to Fire |
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| Damage due to Natural Causes |
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| Personal Accident cover |
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| Depreciation fees |
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| Engine Protection |
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| NCB Protection |
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| Invoice cover |
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Now that you have a basic idea of insuring your car, you should go ahead and look for the best possible cover. You should select a plan on a variety of factors such as car model/variant, engine capacity (CC), manufacturing date, and age .
Here are a few tips to select the right type of car insurance plan:
To help you with the same, we have created a step-by-step guide on buying the right insurance plan for your precious car.
At Coverfox, we believe in making insurance simple for you. We want you to be completely aware of what you are getting yourself into so that you never have to rely on another agent, like ever.
To simplify the buying process, you can easily view multiple car plan quotes from different insurers and select your favourite plan on a single webpage. All of this plus the buying facility included. With Coverfox, you need not go anywhere else for insurance. We are a one-stop shop for you and your car.
Still confused about online car insurance ? Just submit your phone number and we will have our experts to help you buy third party car insurance online along with comprehensive cover.
In addition, you can get value added benefits on Coverfox such as:
| Convenient | Check quotes from the top car insurance companies in India instantly. Everything is available within the comfort of your home or on the go with Coverfox. |
| Clarity of Policy Details | You get to understand the ideal coverage for your car, the right price, possible discounts, deductibles and exclusions. |
| Commercial Car Insurance Online | Commercial car insurance cost differs from standard general insurance. We offer that too. |
| Numerous Options | With multiple policy options to choose from, you can assure yourself the best policy that is apt for your car. |
| Save Money | You can save money in the overall process of buying car insurance as online policies are less expensive. |
| Transparency | You can view details of the product that various insurers offer. You can also read reviews of different plans to make your choice. |
| Get Smarter | Coverfox has a deposit of videos, infographics, and articles to help you understand the finer points of Insurance. |
| Free Express Claims Services | Our Express Claims Service guarantees 3-day car repairs and claim settlement. |
| Discounts | Avail up to 60% discounts on own-damage premium. Get car insurance lowest price today! |
| Excellent Customer Service | Our service managers are there to help you with any concern from claims processing to car insurance renewals. |
| Expert Advice | We provide an unbiased opinion that clears the confusion and helps you buy that perfect plan for you. |
| Post Sales Assistance | We have the best Service Managers who assist you with all your post-sale requirements - from claims processing to renewals! |
This is how Coverfox car insurance works:
Still confused? Call us on our Toll-Free numbers and let Coverfox do all the work for you.
To help you buy, compare and renew car insurance online, we have created a list of the top car insurers in India with their ICR.
Incurred Claims Ratio in Percentage for Financial Year 2018-19
| INSURER | Incurred Claim Ratio in % |
|---|---|
| NATIONAL CAR INSURANCE |
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| NEW INDIA ASSURANCE CAR INSURANCE |
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| ORIENTAL CAR INSURANCE |
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| UNITED INDIA INSURANCE |
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| ACKO CAR INSURANCE |
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| BAJAJ ALLIANZ CAR INSURANCE |
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| BHARTI AXA CAR INSURANCE |
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| CHOLAMANDALAM MS CAR INSURANCE |
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| DHFL CAR INSURANCE |
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| EDELWEISS CAR INSURANCE |
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| FUTURE GENERALI CAR INSURANCE |
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| HDFC ERGO CAR INSURANCE |
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| GO DIGIT CAR INSURANCE |
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| ICICI LOMBARD CAR INSURANCE |
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| IFFCO TOKIO CAR INSURANCE |
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| KOTAK MAHINDRA CAR INSURANCE |
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| LIBERTY CAR INSURANCE |
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| MAGMA HDI CAR INSURANCE CO. LTD |
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| RAHEJA QBE CAR INSURANCE |
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| RELIANCE CAR INSURANCE |
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| ROYAL SUNDARAM CAR INSURANCE |
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| SBI CAR INSURANCE |
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| SHRIRAM CAR INSURANCE |
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| TATA AIG CAR INSURANCE |
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| UNIVERSAL SOMPO CAR INSURANCE |
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Own-Damage (OD) Insurance, as the name suggests, helps you stay covered against loss or damage of your vehicle due to incidents like fire, theft, etc. Now, companies and general insurers provide the option to purchase car insurance online along with stand-alone own damage covers, and third-party policies separately.
According to IRDAI, policyholders can now renew the OD component of a bundled cover with the same insurance provider or a different one. It is essential to note that insurers will only issue a standalone own-damage cover or renew the OD component of a bundled cover if the applicant already has a long-term third-party cover in place or takes one simultaneously.
While having a standalone OD policy is optional, you consider opting for it since it safeguards your insured car from loss or damage caused by accidents, theft, etc.
Premium is the cost of your insurance plan. Here are the most important factors which affect your car insurance premium.
You can calculate the car insurance premium for your car with the help of an online car insurance premium calculator . We have created a free tool that will automatically calculate the premium for your car. This is how it works:
What are the Documents Required for Claim Settlement?
Ask yourself the question, what is the need for buying a cover for your car if you cannot make a successful claim? You can only do it with the complete set of documents. There are different documents for a claim. Make sure that you have all of these documents ready before making a claim. Not even a single document can be left out.
In Case of Third Party Car Insurance Claim,
In Case of Car Theft Claim,
In Case of an Car Accident Claim,
Some Important questions answered for you
Have you Made a Claim in the Previous Year?
If you have not made a single claim in a policy year, you will be entitled to No Claim Bonus. A No Claim Bonus is available in the form of a discount on your insurance premium during the time of renewal.
How to Make a Claim for Car Insurance With Coverfox?
In case of a claim/emergency, for immediate assistance please contact our Customer Support Unit on 1800 209 9960 for Car and Bike insurance claims. For Health, Travel, and Term insurance claims, please contact us on 1800 209 9970. Our advisors will help you with the entire claim amount settlement process. You can also submit/register a claim request on the website in the claims section.
How fast are Coverfox's Insurance Claims Settled?
Get in touch with our Repairs and Claims Specialist today. Call our Toll-Free number 1800 209 9960 or email us at expressclaims@coverfox.com. We are available from 9 am to 7 pm from Monday to Friday and 10 am to 6 pm on Saturday and Sunday.
You can now compare car insurance policies for your car offered by all the top-rated insurers in India at Coverfox.com and then choose the plan that fulfills all your requirements. In case of any confusion, you can seek help from the experts and guide you in the process.
You can get a copy of your insurance online easily. Just follow these steps:
You can easily find your car insurance policy number by following these steps:
Acko General Insurance and ICICI Lombard General Insurance are among the car insurers with a great claim settlement ratio.
You can renew your car insurance online very easily. Follow these mentioned steps: