FOUR WHEELER INSURANCE
Car insurance is a legal contract between the insurer and the insured that makes the insurance company liable to cover any damages to your car in case of an unfortunate event. Third-party Car insurance is mandatory in India under the Motor Vehicles Act, 1988.
A car insurance policy works as a cover for your car and the family. The government of India has made it compulsory for all car owners to have a car insurance policy. This is the best solution to ensure the financial liability of an accident or calamity.
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Importance of Car Insurance
Zero Depreciation CoverIn the case of demise, the family receives compensation
This terrible occurrence may strain your family. However, car insurance also covers your family members, allowing them to go about their lives with fewer financial concerns.
Legally Safe
A car insurance coverage protects you from the legal ramifications of any catastrophe. The car insurance provider will cover the expenditures and legal difficulties.
Personal Accident Cover
One benefit of car insurance is that you can get a pre-determined sum from the insurance provider in the event of a personal accident. Passengers will also receive the coverage specified in the car insurance.
Various Types of Car Insurance in India
In India, there are three types of cover damages, and individuals choose to buy new car insurance based on their preferences. So, let us look at Indias different sorts of car insurance.
Comprehensive Car Insurance
A comprehensive car insurance is one of the most valuable car insurance that covers expenses such as car damage and third-party liabilities.
Third-Party Car Insurance
Buying a third party car insurance is the mandatory insurance for all vehicle owners as per the Indian Motor Vehicles Act, 1988.
Key Features of Buying Car Insurance
Two wheeler insurance add-on covers refer to the additional covers that enhance the coverage of your two wheeler policy on the payment of an extra amount of premium. Following are the various add-on covers that you can opt for your motorcycle or scooter:
Safety Net
A car insurance works as a safety net for a person who’s the owner of the car and the one who gets injured, as the insurance company will pay for the damages per the insurance policy.
No Claim Bonus
One of the best features of an insurance policy is NCB. If you drive safely till the end of your insurance policy term, your insurance company will give you NCB, making your policy more affordable.
Hassle-free Process
You can now buy a car insurance policy online because of significant technological advancements. It is an easy, affordable, and fast way to buy an insurance policy.
Legally Safe
A car insurance policy keeps you legally safe in case of any mishap. Otherwise, you will have a huge fine and might go to jail.
Personal Accident Coverage
Anything can go beyond your control when you are on the road. So, a car insurance policy provides security in bad times by covering your accident expenses.
What is Car Insurance Premium
A car insurance premium is a monthly, quarterly, half-yearly, or yearly payment that you make to the insurance company in order to get the benefits. Car insurance premium depends on various factors and is different for different people, and you can check the same on our website under the car insurance premium calculator. But, before that, let us check out factors on which the premium depends:
Loss or damage to third-party leading to ailment
The coverage covers any loss or damage to a third party caused by the covered vehicles infirmity. The compensation varies depending on whether the disability is partial or whole. As a result, an old car will have a lower IDV, which implies that the car insurance premium for insuring it will be lower than the premium for a new car.
Model/ Variant of the Car
The insurance company will decide your insurance premium depending on the car version. For example, if you have a sedan, you will have to pay more insurance premiums than a hatchback.
Add-ons
In an insurance policy, you can get additional benefits, and the more benefits you add, the more will be the premium. So, you must choose the right add-ons and take care of the money.
No Claim Bonus
If you haven’t used the car insurance policy for its term, you will be eligible for NCB. This will lead to lower premium rates at the time of renewal.
Add-ons in Car Insurance Plans
Insurance companies offer a wide range of benefits when you buy car insurance, known as add-ons. Even though these features add up to your premium amount, they give you more comprehensive protection. We have a curated list of add-ons for you to understand.
NCB Protector Cover
Engine Safety Cover
Zero Debt Cover
Roadside Assistance
Passenger Cover
Consumables Cover
Personal Accident Cover
How to Buy Best Health Insurance Plans from BIMAFINSERV ?
Buying health insurance can be easy if you approach the right channel. Having said this, Bimafinserv.com can be a good platform for choosing the right insurance policy. Bimafinserv Insurance Broker Private Limited has made the process of comparing & buying a health insurance policy easier in comparison to earlier days. A person has easy access to complete details of almost all health insurance plans available in the Indian insurance market at a competitive price.
Bimafinserv.com helps you to compare numerous health insurance plans and zero down on the plan that best fulfills your needs. Moreover, the post-sale services are extended to the customers online as well even at the time of medical insurance claim.
