Car Insurance - Buy & Renew Car Insurance Online
Car insurance is a type of motor policy which provides protection against theft, third-party damages, man-made and natural calamities. You can get financial and legal protection against the damages caused by your car. A comprehensive car insurance policy also provides protection against damages caused to your own car. The Motor Vehicles Act of 1988 makes it mandatory for every car owner to insure his car with a third-party insurance policy.
Car Insurance Starting Premium
Buying / Renewal Process
Personal Accident Cover
Up to Rs. 15 Lakh
Up to 50%
Claim Settlement Process
24*7 Support Available Online
10+ add-ons available
Third-party Car Insurance
Mandatory by government
Third Party + Own Damage Cover
Top Car Insurance Plans
- CASHLESS GARAGES 6,800
- CLAIMS SETTLED 89%
- ZERO DEP. CLAIMS UNLIMITED
- Maximum Cashless Garages
- Over Night Vehicle Repairs
- 24x7 Roadside Assistance
- Quick Claim Settlement
- CASHLESS GARAGES 3,100
- CLAIMS SETTLED 95%
- COMPREHENSIVE CLAIMS UNLIMITED
- Towing Assistance (For Accidents)
- Coverage Outside India
- PSU Provider
- Quick Claim Settlement
What is Car Insurance?
Car insurance, also referred as Motor or Four-wheeler insurance, is a type of agreement between a car owner and an insurance provider. This contract provides financial protection to the vehicle if the vehicle suffers any damage or loss due to expected events like accidents & natural disasters. A motor insurance holds more significance than just being a piece of paper to keep in the car’s dashboard and show traffic officials when necessary. This insurance policy gives financial protection to the damages of your vehicle caused in an accident or theft. No matter how careful you are while driving, accidents can happen, and repair costs can be substantial. Car insurance policies are of various types. First type is third-party car insurance. This cover protects you from financial damages if your insured vehicle unintentionally damages a third party's vehicle or property or injures a third party. It excludes the damages caused to the insured car. As per the Motor Vehicle Act 1988, it is mandatory for all the cars to have a third-party insurance cover. Second type is the comprehensive car insurance policy. This coverage offers financial protection for your car against damage caused by accidents, theft, fires, and natural events like lightning, storms, floods, and cyclones, as well as man-made damages like vandalism and riots. It also covers third-party insurance. You also have the option to add Personal Accident Cover to your policy to cover any injuries or serious physical damage caused due to accidents. If you’re looking to buy a car insurance & insure your car, InsuranceDekho offers it all. You can choose between 3rd party insurance cover, comprehensive car insurance, and stand-alone damage policy, depending on your budget & car’s specific needs.
Types of Car Insurance
At InsuranceDekho, you can buy three different types of car insurance policies such as third-party insurance, comprehensive insurance, and standalone own-damage insurance. Scroll through the section below to learn more about these plans:
Comprehensive Car Insurance
This type of insurance policy is the most preferred cover by the car owners. It provides financial support to pay for the damages caused to the own vehicle & the third-party. As the name suggests, this type of insurance provides comprehensive cover. This policy is also applicable to the damages occurred due to natural calamities, man-made disasters, self-ignition or lightning, explosion, fire, theft, etc.
Third-party Car Insurance
Third-party four-wheeler insurance policy is a mandatory requirement for driving a car in India. Under this cover, the insurance company is liable to pay for the injuries, permanent disability, temporary disability, and death of the third party caused by an accident involving the insured car. This plan also provides coverage for property damage incurred by the third party up to Rs. 7.5 Lakh.
Own Damage Car Insurance
In September 2019, the Insurance Regulatory and Development Authority of India (IRDAI) introduced the Standalone Own-Damage car insurance policy. Under this plan, the insured gets insurance coverage only for the damages sustained by their four-wheeler/car in a road accident, natural/man-made calamity, fire, explosion, theft or any other mishap.
Third-party vs Comprehensive Car Insurance
|Point of Difference||Comprehensive Car Insurance||Third-party Car Insurance|
|Definition||A comprehensive car insurance provides complete protection for your car as well as third-party liabilities||A third-party car insurance provides protection only if a third-party is damaged due to the insured vehicle|
|Coverage||It covers the financial loss to the insured car and a third-party||It provides financial compensation if there is a damage to a third-party|
|Legal Requirement||No, this type of policy is not legally required||As per the Motor Vehicles Act of 1988, this type of policy is a mandatory requirement|
|Cost||As it offers more coverage, it is generally costlier||It is more affordable as compared to a comprehensive car insurance plan|
|Exclusions||Any damage to the insured car or a third-party is not covered if you are driving under the influence of alcohol or drugs||Any damage to the vehicle is not covered|
|Add-ons||A number of add-ons can be included in a comprehensive car insurance plan||You can include add-ons in a a third-party car insurance|
How to Choose Car Insurance Policy Online?
Buying a car insurance policy may become a challenging task if you fail to do proper research. At Insurance, we understand how important it is for you to buy the right car insurance plan. So, to help you out, we have enlisted some of the tips in which you can buy the best car insurance policy online:
- Check the Different Car Insurance Types: With three different types of four wheeler insurance available, it is crucial to assess your car insurance needs and accordingly finalise the type of policy you need. Choose a third-party cover if you want to stay legally compliant. On the other hand, choose a comprehensive car insurance plan if you want to get complete protection for your vehicle. As InsuranceDekho offers three different types of car insurance plans, you can easily pick one that best suits your needs and budget.
- Analyse the Car Insurance Premium: The premium of car insurance depends on a number of factors such as IDV, model, fuel type, age, and others, which is why the car insurance premium varies from one insurer to another. Moreover, checking four wheeler insurance premiums also become important to analyse so that you are able to buy a plan that fits your budget. So, it is wise to first compare the car insurance premiums and then make the final decision.
- Check for IDV: IDV or the Insured Declared Value refers to the current market value of your car. As your vehicle suffers wear and tear, then the value of your car decreases. It is the maximum amount that your insurance company will settle in case your car is completely damaged or stolen. The car insurance premium is directly proportional to the IDV, which means that the higher the IDV, the higher will be the four wheeler insurance premium.
- Compare Different Plans: You should compare different car insurance plans online. The comparison makes it easier to pick the best car insurance plan as per your budget and needs. You should analyse the coverage offered under different types of four wheeler insurance plans as doing so will help you make an informed decision in selecting the right car insurance policy for yourself.
- Add-ons: There are a number of add-ons available such as zero depreciation cover, no claim bonus, key loss cover, engine loss cover, and more that help in enhancing the benefits of your car insurance plan even more. So, while buying a car insurance plan, you must include a number of add-ons to get additional coverage. Once you have rightly selected the four wheeler insurance policy, you will be able to get complete protection for your car.
- Availability of Cashless Garages: Cashless garages in car insurance is helpful for policyholders to get their car insurance claims settled in a cashless manner. With the availability of more cashless garages with your insurer, it becomes easier to get cashless repairs in a hassle-free manner. So, always buy a car insurance plan from a company that has tie-ups with a large number of cashless garages.
- Check Claim Settlement Ratio: The claim Settlement Ratio in four wheeler insurance refers to the efficiency of car insurance companies in getting their car insurance claims settled. It thus refers to the percentage of claims settled by the insurer in a year. So, always look for an insurance company that has a simple and swift claim process and check their Claim Settlement Ratio (CSR) before finalising. It is better to buy a plan from a company with high CSR.
- Services Offered: In addition to the claim settlement ratio, you should also check the services offered by your four wheeler insurance company. For instance, you must understand whether the company offers a quick claim settlement, 24*7 service, and other services. You should thus choose a company that offers hassle-free customer service.
Key Highlights of Car Insurance Policy
Given below are salient highlights of a four-wheeler insurance policy:
Coverage for third-party injury and property damage
Own Damage Cover
Covers the damage and loss incurred by the insured four-wheeler
Personal Accident Cover
Available up to 15 lakh
Various add-ons are available based on the policy such as zero depreciation cover, return to invoice cover, roadside assistance, etc.
Available at the network garages of the insurer
No Claim Bonus
Up to 50%
Benefits of Buying Car Insurance?
To stay protected against uncertainties that take place on the road, car insurance becomes very important. Some of the reasons why you should have a four wheeler insurance plan are as follows:
Helps You Stay Legally Compliant:An insurance helps you stay legally compliant as according to Indian Motor Tariff, every car owner is mandatorily required to have at least a third-party car insurance policy. The absence of which is punishable with a fine of Rs. 2,000 and/or imprisonment of up to 3 months.
Protection Against Third-Party Liabilities:A four wheeler insurance policy provides coverage for third-party liabilities such as bodily injuries, temporary/permanent disability, death as well as property damage. You can get third-party coverage in both comprehensive car insurance and third-party car insurance plans. While the compensation for third-party property damage is limited to Rs. 7.5 Lakh, there is no compensation cap in case third-party bodily injuries, disability, or death.
Protection Against Own-Damages:An insurance policy for your car helps you keep yourself financially secured against the own-damage expenses of your car. Damages incurred in road accidents, natural calamities, man-made disasters, fire, explosion, vandalism, etc are covered under standalone own-damage as well as comprehensive car insurance plans.
Coverage Against Theft:A standalone car insurance policy also provides coverage in case of theft of your car. In case your car gets stolen, your insurance company provides you with your car’s Insured Declared Value (IDV) which corresponds to the market price of your car. In case of theft, with InsuranceDekho you will also get a quick claim settlement.
Personal Accident Cover:With a car insurance policy, you can also get a personal accident cover of up to Rs. 15 Lakh. Thus, in case of death due to an accident or if there are any bodily injuries as well as disability of the policyholder in a car accident, then a Personal Accident Cover becomes very important.
Coverage Against Financial Losses:If there is any kind of damage to your four-wheeler during an accident, natural disaster, vandalism, or any other unfortunate events, then all the financial losses incurred are covered under your four wheeler insurance plan. To get complete protection, it is advisable to buy a Comprehensive Car Insurance plan.
Financial Coverage Against Natural Calamities:If there is any damage to your four-wheeler or car due to natural calamities such as earthquakes, floods, storms, or others, then a car insurance plan will provide financial coverage in such cases. InsuranceDekho offers quick claim settlement in such unfortunate circumstances.
No Claim Bonus Benefits:No Claim Bonus or NCB is a discount given if the policyholder raises no claims in a given year. A maximum discount of 50% is given if you are eligible for NCB, which makes a four wheeler insurance plan all the more affordable.
Explore Car Insurance
Top Car Insurance Companies in India 2023
There are 20+ best car insurance companies in India that sell car insurance online with different features, each unique in its own way. However, going through them individually would be a tedious task hence we have compiled a list of the top car insurance companies with their unique features to help you choose the right plan for your car.
Car Insurance Company
Claim Settlement Ratio
HDFC ERGO Car Insurance
ICICI Lombard Car Insurance
United India Car Insurance
New India Car Insurance
Royal Sundaram Car Insurance
Reliance Car Insurance
SBI Car Insurance
Future Generali Car Insurance
Liberty Car Insurance
IFFCO Tokio Car Insurance
Digit Car Insurance
Bajaj Allianz Car Insurance
Kotak Mahindra Car Insurance
Edelweiss Car Insurance
Bharti AXA Car Insurance
Chola MS Car Insurance
Oriental Car Insurance
Universal Sompo Car Insurance
Magma HDI Car Insurance
Raheja QBE Car Insurance
Tata AIG Car Insurance
National Car Insurance
Shriram Car Insurance
Acko Car Insurance
Navi Car Insurance
Disclaimer:*The above-mentioned claim settlement ratio (CSR) has been sourced from IBAI’s General Insurance Claim Insights Handbook - 5th Edition. InsuranceDekho does not endorse, rate or recommend any particular insurance company or insurance plan.
How to Buy Car Insurance Online?
The process of buying a car insurance is quite simple and easy. Here’s how you can buy the right four wheeler insurance online with us.
- Fill Your Car Details
Provide your car details such as its make, model, etc, to see car insurance price offered by top insurance providers in India.
- Compare Car Insurance Quotes
From all the available car insurance plans, select the plan which suits your budget & requirements in the best manner.
- Make Payment Online
Pay the policy premium online & get your car insurance document instantly in your inbox.
Benefits of Buying Car Insurance Online
In today’s digital world, buying four wheeler insurance online offers a bunch of benefits. In comparison to the traditional offline mode of buying car insurance, buying car insurance online is more convenient and hassle-free. Read on to understand how buying car insurance online is advantageous:
- Instant Policy Issuance: When you choose to buy a four wheeler insurance plan online, the policy will get issued in a matter of few minutes. In a few simple clicks and easy steps, your car insurance policy details will be instantly sent to your registered email id.
- Simple Comparision: On purchasing four wheeler insurance plans online, it becomes easier to compare the different policies from the comfort of your home. Just by entering a few details such as vehicle registration number, pin code, and other details, you can view different car insurance plans with InsuranceDekho. You can also use a car insurance premium calculator to get an estimate of the four wheeler insurance plan you are buying.
- Affordable: Buying a car insurance plan online does not involve any overhead costs and thus is a very affordable option. Moreover, there are a number of four wheeler insurance companies that offers discounts when you choose to buy a car insurance plan online.
- Saves Time: Along with being an affordable option, you can also save on your valuable time when buying a vehicle insurance plan online. Without stepping outside, you can buy insurance online from the comfort of your home in a matter of a few seconds. With InsuranceDekho, you can buy your car insurance plan in just 60 seconds.
- Less Paperwork Required: There is little to no less paperwork involved when you buy four wheeler insurance online. All the documentation process happens online, and thus you save on paperwork with the online process of buying a car insurance plan.
- Safer Option: Buying car insurance online is not only a quick but also a safe option. When you buy car insurance online with InsuranceDekho, all your personal details are safe and so are the payment details. The online payment gateways are safe with the help of different online protocols and thus reduce the chances of any kind of fraud.
- Customisable Option: With your four wheeler insurance plan, you can also add a number of add-ons to further enhance its coverage. And when you buy car insurance online, you can easily customise these add-ons as per your needs. This means you can remove or keep adding more add-ons as per your requirement and budget.
- Vehicle registration paper or RC
- Driving license of policyholder
- Aadhaar card/PAN card
- Recent passport size of the policyholder
- A duly-signed car insurance form
- Copy of NOC, if required
Documents Required to Avail Car Insurance Online
Listed below are the documents required to buy four wheeler insurance online:
Difference Between Buying Car Insurance Plan Online vs Offline
Online mode of buying car insurance
Offline mode of buying car insurance
Car insurance can be directly bought from the company’s website
Car insurance can be bought by physically visiting the office of the insurance company and or connecting with intermediaries
There is minimal paperwork required with a digital proposal form, the requirement of scanned documents copy, etc.
A lot of documentation and paperwork is required
Economical option as there is no involvement of intermediaries, reducing the commission expenses
Costlier due to the involvement of agents and the requirement to go to the insurance office
Ensures 24*7 customer support with
Customer support is available during office hours only
Hassle-free renewal process as all the details are auto-saved from the insurer’s end
Tedious process as there is more documentation required
Why Choose InsuranceDekho for Car Insurance Online?
- Car Insurance in Just 5 Minutes*
Wait no more! Get your car insurance online in just 5 minutes with our easy, quick and paperless car insurance policy issuance process.
- Over 45 Lakh Happy Customers
InsuranceDekho is a favourable choice among insurance buyers. Our transparent and quick process, availability of top-rated four wheeler insurance and dedicated customer support team has helped us win the love and confidence of over 45 Lakh happy customers
- 7 Days Dedicated Customer Support
Our dedicated customer support team is available at your service all the 7 days of the week. Feel free to reach out to us for any four wheeler insurance related assistance, be it for policy purchase or claim settlement, we are always there to help you.
Car Insurance Coverage
- What is Covered?
- What is not Covered?
- Third Party Bodily Injuries
All bodily Injuries caused to someone else by your car in an accident will be compensated for by your insurance provider.
- Third Party Disability
If an accident caused by your car results in a disability of a third party, then the compensation for the same will be provided
- Third Party Death
Compensation will be provided in case an accident caused by your car results in a demise of a third party.
- Third Party Property Damage
Damages caused to a third party’s property will be covered up to Rs. 7.5 Lakh.
- Road Accidents
Damages caused to your car in accidents or collisions will be covered.
- Natural Calamities
Damages sustained by your car in natural disasters such as earthquakes, floods, cyclones, etc will be covered.
- Man-made Disasters
Damages incurred by your car in man-made disasters like riots, strikes, terrorsism, vandalism, etc will be covered.
- Damage During Transit
Damages caused to your car during transit by road, rail, inland waterway, and lift will be covered.
Damages sustained by your car in fire and explosions will be covered.
- Theft of Your Car
Loss of your car due to theft or burglary is covered.
- Drunk Driving
Claims for incidents when the insured was driving under the influence of alcohol are not admissible.
- Driving Without Valid Driver’s License
No coverage is offered if the insured was driving without a valid driver’s license.
- Wear and Tear/Depreciation
By default, no coverage is offered for depreciation expenses of the car.
No coverage is available for engine oil, brake oil, air conditioner refrigerant, radiator coolant, nuts, bolts, screws, washers, grease, etc.
- Mechanical/Electrical Breakdown
No coverage is provided for mechanical/electrical breakdowns.
- Driving Under the Influence of Drugs
Claims when the insured was driving under the influence of drugs are not covered.
- Damage in War/Nuclear Attack
No coverage is provided for damages sustained in a war or nuclear activity/attack.
- Damage to Tyre/Tubes Except in Accidents
By default, damages incurred by tyres and tubes, except in case of accidents, are excluded from the coverage
- Damage Incurred Outside Covered Geographical Boundaries
No coverage is offered for damages incurred outside the coverage geographical limits.
Partner Car Insurance Companies
Car Insurance Add-ons
- Pay As You Drive
Pay As You Drive is a recently launched add-on that you can include in your car insurance plan. It is also called Pay As You Go add-on and is available with a comprehensive car insurance plan. On the basis of the kilometres you drive, the car insurance premium will be accordingly determined and is thus an excellent way to save on car insurance premiums. As of now, there are only a few insurers that are offering Pay As You Drive add-on.
- Bumper to Bumper Car Insurance
Bumper to Bumper is an add-on cover designed to give holistic coverage to cars irrespective of their part’s depreciation value. With this cover, the insurers do not deduct the depreciation cost from the compensation for the repair and replacement of car parts, excluding car batteries and tyres. In simple terms, it eliminates the depreciation part during the claim settlement and gives complete coverage for rubber, fibre, and metal parts of the car.
- No Claim Bonus Cover
Your insurance provider rewards for not making a claim during a policy year. This reward is offered as a discount on the own-damage premium of your car insurance policy and is called the no claim bonus (NCB). It can go up to 50% of your own-damage premium rates. However, if you make even a single claim, this NCB gets lost. You can protect the loss of NCB by opting for a NCB protection cover.
- Engine Protection Cover
No coverage is offered for the damage incurred by the car’s engine due to oil leakage or water ingression. A standard car insurance policy only covers the damage caused to the engine during an accident. However, you can get a complete coverage for your car’s engine damage by opting for an engine protection add-on. It is one of the most opted for add-ons as the engine is the heart of the car.
- Return To Invoice Cover
In case of complete total loss of your car, the Insured Declared Value (IDV) of your car is paid as the compensation amount by the insurance provider. However, the IDV amount is lower than the actual price paid by you at the time of purchasing your car. You can bridge this gap by opting for a return to invoice cover which provides you the amount mentioned in car’s purchase invoice in the event of your car’s total loss.
- Roadside Assistance Cover
The roadside assistance add-on cover provides you with on-road assistance services if your car breaks down anywhere. To avail this benefit, you just have to call your insurer and it will arrange a mechanic for your location to help you out. This add-on cover offers several assistance services such as minor on-site repair, changing a flat tyre, car towing, fuel delivery, battery jumpstart, and so on.
- Consumable Cover
When a car gets repaired, several consumable items are used like lubricants, coolant, nuts and bolts, grease, engine oil, screw, oil filter, etc. Generally, the expenses of consumable items are not covered by a car insurance policy and the policyholder has to bear this cost. But the consumable add-on cover reimburses the cost of consumables items incurred during the repair of an insured car.
- Accessories Cover
Different types of accessories are fitted in the cars to enhance their protection and beauty. These include stereo systems, reverse cameras, etc. These luxurious accessories are electrical and non-electrical. Since they are costly, it makes them theft-prone and can also bring a huge loss in case of accidents. Here, accessories add-on cover comes in to shield your car’s accessories by offering you additional coverage to reimburse them.
- Passenger Cover
Passenger add-on cover is an add-on cover that provides financial protection for the passengers riding in the insured car against liabilities arising from accidents. However, it is compulsory to own a personal accident cover to insure the owner-driver, but covering passengers is not mandatory. Still, you can opt for this benefit to cover passengers including your family members or your customers, if you have a commercial car.
- Key Replacement Cover
In case you lost or misplaced your car’s key, you need to get a duplicate key by approaching the service center of your car, which can be a time-consuming and expensive procedure. To reduce the hassle, you can opt for the lost key cover. It is an add-on cover that will reimburse the expense to repair or replace your car key, in case you lose, damage, or misplace them.
- Personal Accident Cover
A personal accident cover or PA cover is a benefit provided by insurance companies to an owner-driver of an insured car to help them stay protected against any type of accidental injuries. This cover gives compensation to the owner-drivers to cover their bodily injuries, permanent disability or death incurred due to a car accident. An owner-driver is the owner of the car, who owns a valid and active driving license.
- Tyre Protection Cover
A tyre protection cover is an add-on cover designed to provide coverage for the repair as well as replacement expense of tyres of the insured car. This benefit also covers accidental loss or damage, bursting of tyre or cut sustained by the tyre and tubes in addition to labour charges incurred during the repair or replacement of tyres which comprise refitting, rebalancing or removing the wheel.
Comparison of Different Car Insurance Plans
|Coverage||Third-Party Cover||Standalone OD Cover||Comprehensive Cover|
|Third-Party Bodily Injuries|
|Third-Party Property Damage|
|Personal Accident Cover|
|Theft of Car|
Why Should You Buy A Comprehensive Car Insurance Policy?
Every car owner should purchase a comprehensive four-wheeler insurance policy due to several reasons. Here are its top benefits:
1. Third-Party Liabilities - Comprehensive car insurance provides you coverage for third party liability, which will help you if your car gets involved in an accident that leads to damages sustained by the third party. Also, it gives you legal compliance with the basic cover in hand while driving a car.
2. Own Damage Cover - Apart from the third party liability, comprehensive car insurance also gives coverage for damages or losses incurred by your car due to an accident, theft, fire, burglary, man-made disaster or natural calamities. Also, it covers damage or loss to cars while in transit by rail, air, and so on.
3. Personal Accident Cover - Personal accident cover is also offered with comprehensive car insurance plans that give protection against permanent total disability as well as death due to an accident. This cover can be extended for other passengers based on your car’s seating capacity for a specified amount.
4. No Claim Bonus - One of the biggest benefits comprehensive car insurance provides is the No Claim Bonus (NCB) feature. Under this benefit, a policyholder gets a discount on the next year's premium for not making any claim in a policy year. With every claim-free year, discounts accumulate making the car insurance more affordable.
5. Cashless Claims - The cashless car insurance claim is a significant aspect of every policy. Insurance company’s with a large network of garages across the nation ensure active cashless services in all these locations. This facility makes it convenient for policyholders to avail the repair services without paying anything.
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Customer's Speak8782 Reviews
- Protection Against the UnexpectedInsuranceDekho's own damage coverage along with the Digit Car Insurance Policy provides essential protection against t...Digit car InsuranceBy Vihaan Chopra On:18th September, 2023
- Great Customer Experience for Third-PartyI had a great customer experience with InsuranceDekho third-party coverage. Their team was helpful and guided me throu...Reliance car InsuranceBy Rudra MaheshwariOn:18th September, 2023
- Timely Renewal CertificatesThe renewal certificates from InsuranceDekho are always provided promptly. This attention to detail makes the renewal ...Tata Aig car InsuranceBy Tanisha Mahajan On:18th September, 2023
- Accurate and Trustworthy EstimatesI trust InsuranceDekho's premium calculator for accurate estimates. It helped me make a well-informed decision about t...Icici Lombard car InsuranceBy Aadi Sachdeva On:18th September, 2023
- Wide Network of Cashless Garages!When I bought the HDFC Ergo Car Insurance Policy from InsuranceDekho, I was impressed by its extensive network of cash...Hdfc Ergo car InsuranceBy Majnu Talpadi On:18th September, 2023
- Great Customer SupportInsuranceDekho's customer support team was excellent. They patiently explained the benefits of their zero depreciation...Acko car InsuranceBy Shabnam AllamOn:15th September, 2023
- Comprehensive Coverage for a Wide Range of RisksInsuranceDekho's comprehensive coverage protects my Nissan car against a wide range of risks, from accidents to natura...Cholamandalam car InsuranceBy Mili DhingraOn:15th September, 2023
- Total Peace of Mind with Own Damage CoverageRecently I bought the Liberty Car Insurance Policy and with that InsuranceDekho's own damage coverage gives me total p...Liberty car InsuranceBy Vinod KamathOn:15th September, 2023
- Ideal for City DrivingLiving in a city, InsuranceDekho's third-party coverage is ideal. The Edelweiss Car Insurance Policy ensures that my C...Edelweiss car InsuranceBy Anjali LuthraOn:15th September, 2023
- Effortless Policy ContinuationRenewing my Bajaj Allianz Car Insurance Policy with InsuranceDekho is like seamlessly continuing my coverage. The proc...Bajaj Allianz car InsuranceBy Amitha VasanthOn:15th September, 2023
How to Calculate Car Insurance Premium Online?
To get the relevant coverage under your car insurance plan, you need to pay a certain amount which is called the car insurance premium. To get an estimate of the premium you need to pay towards your car insurance plan, you can easily follow a few simple steps. Here is how you can calculate car insurance premium online:
Using Online Premium Calculator
A car insurance premium calculator is basically an online tool that helps you in estimating the premium you need to pay for your car insurance plan. Listed below are the steps in which you can use car insurance premium calculator:
- Step 1: Select your car’s make, model, fuel type and variant
- Step 2: Select the city in which your car is registered in
- Step 3: Select the year in which you purchased your car
- Step 4: Select ‘Yes’ if you have previously made a claim, else select No
- Next: Now press the ‘Calculate’ button
How to Calculate Own Damage Car Insurance Premium?
A standalone own-damage insurance provides financial protection if there is any damage or loss to the insured vehicle. Here is how you can calculate own-damage car insurance premium:
Own-damage car insurance premium = [Insured Declared Value*Premium Tariff as decided by Insurer] + Add-ons – [Discounts like NCB]
How to Calculate IDV of Your Car?
IDV or Insured Declare Value can be easily calculated using this formula:
[List price of the car manufacturer – depreciation deduction] + [Cost of vehicle accessories which are not a part of list price – depreciation deduction of accessories]
Third-party Car Insurance Premium
Below mentioned is a table that highlights the premium for third-party car insurance plans:
Engine Cubic Capacity of Car
IRDAI Notified Third-party Car Insurance Premium
Up to 1000cc
Between 1000cc - 1500cc
More than 1500cc
Car Insurance Renewal Online - Instant e-Policy
Below is the process of car insurance renewal online through the InsuranceDekho portal:
Step 1: Go to InsuranceDekho and click on the ‘Car’ tab.
Step 2: Enter the car’s Registration Number and click on the ‘Proceed’ button. Then choose your car’s variant and vehicle fuel type to continue.
Step 3: Share the previous company’s expiry date and the name of your car insurer. Also, tell if you have raised any claim in the last policy year and click on ‘Continue’.
Step 4: Fill in your name and mobile number and the duration for which you want to insure your car and click on the ‘Submit and Get Quotes’ link.
Step 5: Different premium quotes from different car insurance companies will appear which you will have to compare and choose as per your requirements. You can also pick car insurance add-on covers at this step.
Step 6: Click on the ‘Buy Now’ button, verify your details, and make the payment. The car policy will be issued and its document will be sent to your registered email ID.
Benefits of Car Insurance Renewal Online with InsuranceDekho
A car insurance plan comes with an expiry date, which is why it is important to renew it before its expiry. On renewing a car insurance plan, you will be able to continue getting the benefits and coverage under your car insurance plan. So, listed below are some of the benefits of car insurance renewal with InsuranceDekho:
- Quick Comparision: When you renew your car insurance plan with InsuranceDekho, you can easily compare the difference between the different car insurance plans available. On comparing the plan, it will become easier for you to understand what kind of coverage you require and thus accordingly renew your existing car insurance plan.
- Easily Customisable: While renewing your car insurance plan, you will also be able to customise the plan as per your needs. If you need any additional add-on, you can easily customise the plan while renewing your car insurance plan online with InsuranceDekho.
- Switch from One Insurer to Another: When you are renewing your existing car insurance plan with InsuranceDekho, you can also switch from the existing car insurer to another. This is because InsuranceDekho has tie-ups with a number of car insurance companies. Switching from one insurer to another is helpful in getting additional coverage if needed.
- Additional Discounts: On renewing your car insurance plan, you also get discounts. So, get discounts while you renew your car insurance plan with InsuranceDekho.
Why Should You Renew an Expired Car Insurance Policy Now?
If your four-wheeler insurance expires, you will become vulnerable to legal and financial risks. Here are some points risks of an expired car insurance policy:
1. Legal Trouble - Driving a car with an expired car insurance policy can get you in trouble which can lead to penalties. Repeated offences can enhance your penalties and can even make you face imprisonment. Hence, if your car’s policy is expired, then you should renew it immediately.
2. No Cover & Claim - An expired car insurance policy can provide no coverage, which means you cannot make any request for a claim from the insurance company. So, if your car faces any damage, then your insurer will not be liable to compensate your losses and you will have to bear the entire expenses.
3. Long Renewal Process - The renewal process might become difficult and can take a long time if your policy has expired, otherwise, it takes a few minutes only. The reason behind the delay is that an inspection is required to renew an expired policy which may take time as per the availability of the surveyor.
4. Loss of NCB Benefit - The NCB of your car insurance can be terminated if your car insurance plan is not renewed within 90 days of its expiry date. This can make you lose your NCB discount even if it was 50%, which could be a huge loss for you as it could lower your premium for the next year.
5. Scope for Inspection - If your policy expires, your insurance company might want the car before renewing the insurance for it. This can lead to a price hike due to two major reasons that comprise the cost of the inspection process to the company and if your car is not found to be in a good shape or at risk.
Factors That Affect Your Car Insurance Premium
The car insurance premium depends on a number of factors such as the following:
- Engine Capacity of the Car
The engine capacity of the car largely affects the car insurance premium. Four-wheelers with higher engine cubic capacity will have higher insurance premiums. The car’s cubic capacity of CC is thus directly proportional to the vehicle insurance premium.
- Age of the Car
Another factor that affects the car insurance premium is its age. Typically, the insurance premium of an old car is lower as compared to that of a new car. This is because the IDV or the Insured Declare Value decreases as the age of the car increases and so does the premium. On the other hand, for new cars, the IDV is high and thus the car insurance premium for new cars will be higher.
- Type of Car Insurance
As already stated, there are three types of four wheeler insurance plans such as third-party, standalone own-damage, and comprehensive. While a third-party car insurance provides coverage for third-party liabilities, comprehensive car insurance provides complete protection to the insured car. On the other hand, standalone own-damage car insurance only provides coverage if there is damage or loss to the insured car. Thus, depending on the type of insurance plan you buy, the insurance premium is accordingly determined. Typically, the car insurance premium of a comprehensive car insurance plan will be higher.
With comprehensive car insurance plans, you can also include a number of add-ons such as zero depreciation cover, no claim bonus protector, key loss cover, engine loss cover, and many more. However, it is important that as you include these add-ons in your car insurance plan, the premium will go up along with its coverage. The more add-ons you include in your car insurance plan, the higher will be the car insurance premium.
- Claim History
If you have a bad claim history or if you have raised multiple claims in a given year, then your four wheeler insurance premium will be higher. On the other hand, if you have raised no claim in a given year, then a No Claim Bonus benefit will be paid out as a reward. With the No Claim Bonus benefit added to your car insurance plan, the car insurance premium automatically gets affected. Thus, a No Claim Bonus benefit lets policyholders pay lower car insurance premiums.
- Insured Declared Value
Insured Declared Value or what is called IDV largely affects the car insurance premium. It is basically the current market value of your car and with time the IDV decreases. As the IDV of a vehicle decreases with every passing year, the four wheeler insurance premium also gets reduced.
In car insurance, deductibles refer to a specific amount that is paid by the policyholder from their own pocket. It depends on the policyholder to keep the deductible lower or higher in their insurance plan. The higher the deductibles you choose, the lower will be your car insurance premium. However, always remember that if the deductibles will be higher, you will have to spend a lot of money from your pocket towards the repair of your car. So, choose wisely.
- Installation of Anti-theft Devices
If someone has installed anti-theft devices authorised by the Automotive Research Association of India (ARAI), then their car insurance policy premium will be lower by the insurance company. This is because it lessens the chances of car theft which ultimately lowers the insurer’s risk and burden to pay compensation. Furthermore, installation of other safety devices also helps in reducing the car insurance premium.
- Geographical Location
Yet another factor that plays a crucial role in determining the car insurance premium is geographical location. For instance, if you live in an area where the chances of accidents or natural disasters are higher, then the car insurance premium ought to be higher. On the other hand, if you live in an area that is safe from thefts or accidents, then the car insurance premium for cars in such areas will be lower.
- Other Factors
In addition to those mentioned above, there are several other factors that determine your four wheeler insurance premium. For instance, the make and model, fuel type, and any modifications in the car either increase or decrease the car insurance premium. So, be clear about the modifications you are getting done in your four-wheeler as that can largely affect your four wheeler insurance premium.
Tips To Reduce Car Insurance Premiums
Worried about paying hefty car insurance premiums? If so, then fret not as there are a number of ways in which you can stay away from paying higher premiums. Scroll through the section below to know all about the different ways in which you can reduce your car insurance premium:
- Opt for More Deductibles: While buying a four wheeler insurance plan, there is an option to opt for deductibles. Deductibles are basically the amount that the policyholder will have to pay towards the repair of their car. If you opt for a higher deductible, then the car insurance premium will be lower. So, to save on car insurance premiums, it is better to opt for higher deductibles.
- Buy Pay As You Drive: Pay As You Drive is a recently launched feature in the car insurance industry. This is highly beneficial for all those who want to save on car insurance premiums. This is because the premium in this case is determined on the basis of the kilometres you drive. So, if you drive your car occasionally, then it is better to buy a Pay As You Drive so that you pay a lesser premium.
- Compare Car Insurance Policies: With so many four wheeler insurance companies offering car insurance plans, it is important that you compare all of these different plans. Doing so will not just help you in selecting the right vehicle insurance plan but also a plan that fits your budget. On comparing different car insurance plans, you will be able to analyse which plan fits your budget and accordingly buy one.
- Avoid Raising Car Insurance Claims: It is highly advisable to avoid raising claims for minor damages. For instance, if there is minor damage to the body of the car in case of an accident, then it is better to pay for the expenses from your own pocket instead of raising a claim. On paying expenses from your own pocket, you will be able to maintain your No Claim Bonus benefit and thus get discounts on four wheeler insurance premiums.
- Choose the Adequate Coverage: If you wish to save on car insurance premiums, it is very crucial that you analyse your coverage needs. This will help you in buying a four wheeler insurance plan that best suits your needs and prevent you from paying additional premiums.
- Renew Car Insurance Before its Expiry: A four wheeler insurance plan comes with an expiry date. So, renewing car insurance on time becomes very important. If you fail to renew your car insurance plan before its expiry date, then you will have to pay fines.
- Install Safety Devices: By installing safety devices like anti-lock systems, anti-theft devices, and others, the safety of your car increases. So, when your insurer knows that your car is at a lesser risk, then the premium in such cases will be set to a lower amount as compared to other instances.
- No Claim Bonus: It is very important that you drive safely to avoid raising four wheeler insurance claims. When you drive responsibly, the chances of accidents will be lesser, and thus you will not have to raise any car insurance claim. Moreover, this also keeps your No Claim Bonus benefit intact. With the No Claim Bonus benefit, you will be able to save largely on your four wheeler insurance premium.
Factors Affecting IDV
IDV stands for Insured Declared Value and is a crucial component in determining the premium amount and coverage of a comprehensive car insurance policy. IDV represents the maximum amount an insurance company will pay out to the policyholder in case of a total loss or theft of the insured vehicle during the policy period. In essence, it is the current market value of the insured vehicle, excluding the value of any additional accessories or modifications that are not pre-installed.
Factors that affect the Insured Declared Value (IDV) of a vehicle in car insurance include:
- Age of the Vehicle: As a vehicle age, its market value decreases due to factors such as wear and tear, depreciation, and obsolescence. Consequently, the IDV of an older vehicle tends to be lower than that of a new one.
- Make and Model: The make and model of the vehicle significantly impact its market value. High-end or luxury vehicles tend to have a higher IDV compared to others.
- Depreciation: Depreciation is a major factor affecting IDV. Insurance companies use standardized depreciation rates to calculate the reduction in the vehicle's value over time.
- Geographical Location: The location where the vehicle is registered can influence its IDV. Vehicles registered in urban areas may have a slightly higher IDV due to higher market values compared to rural areas.
It's important to note that while a higher IDV might result in a slightly higher insurance premium, it also means that in the event of a total loss or theft, you may receive a higher payout from the insurance company. However, setting the IDV too high can lead to unnecessary premium costs, while setting it too low could result in insufficient coverage in case of a claim. It's advisable to choose an IDV that accurately reflects the current market value of your vehicle.
Here is a table that illustrates the age of the vehicle and how it affects the IDV
Age of the Vehicle
Depreciation % for Fixing IDV
Less than 6 months
Between 6 months - 1 year
Between 1 year - 2 year
Between 2 year - 3 year
Between 3 year - 4 year
Between 4 year - 5 year
How To File Online Car Insurance Claim?
A four wheeler insurance claim can be made in two ways - a cashless claim or reimbursement claim. When you visit a network (partner) garage of your insurance provider for your car’s repair work, the claim is settled in a cashless manner When you visit a non-network garage of your choice, the claim is settled first by you and is later reimbursed to you by your insurance provider. You can follow the below steps to make a car insurance claim:
- Register Your Car Insurance Claim: Inform the insurance company about the mishap at the earliest. Once you have informed the company, you can also fill out the car insurance claim form on their website. You can do so by entering details like your insurance policy number, name, address, and a few more. You will also have to provide a few other details like the incident and whether a third party was injured during the time or not. Once you have entered all the details, you can proceed with submitting the claim form.
- Claim Intimation Number: After your claim has been submitted, you will receive the claim intimation number. Keep this number safe for future reference.
- Inspection: Next, a surveyor will be assigned to inspect the total damages done to the insured car. After this, the surveyor will submit the damage reports to the insurance company.
- Take Your Car to A Garage: If you have opted for a reimbursement claim, then take your car to any garage of your choice. However, in the case of cashless claims, you can take the damaged car only to a cashless garage or one that has a tie-up with the insurance company.
- Claim Settlement: Once the repair work of the insured car is completed, the insurance company will verify all the documents related to your car insurance claim. Finally, when everything is verified the claim request will be directly settled at a cashless garage. In case of reimbursement claims, the claim amount will have to be first borne by the policyholder, which will be later reimbursed by the insurance company.
Documents Required to File Car Insurance Claim after an Accident
To file a car insurance claim successfully, you require a few documents which are as follow:
1. Car insurance policy
2. Driving license copy
3. Duly signed claim form copy
4. Original repair invoice
5. RC copy of the car
6. Fitness certificate for commercial cars
6. FIR copy, in case of theft, injury or damage to third-party, or accidents
7. Cash receipt and proof of car release
8. ID proof of insured person such as Aadhar card and PAN card
How to Compare Online Car Insurance Quotes at insuranceDekho?
You can compare different four-wheeler insurance policy quotes online at InsuranceDekho in just 30 seconds. A thorough comparison of policy quotes can help you find the most suitable policy at the lowest premium. To get the policy quotes, you will have to enter some details such as make, model, fuel type, variant, manufacture year and so on. This will get you a car insurance premium offered by several insurers in the market which you can customise with add-on covers and select the one that fits best to your requirements and budget.
How to Download Your Car Insurance Policy Copy?
Here are the steps you need to follow to download a copy of your car insurance policy:
- Go to the official website of the insurance company
- Log in with your credentials and enter details such as policy number, name, and a few more
- You will be redirected to your policy detail page. You can also see a download option visible on the screen
- Proceed with downloading the car insurance policy papers. In case you are unable to download a copy of four wheeler insurance, you should directly contact your insurance company
Frequently Asked Questions About Car Insurance
What is a car insurance policy?Car Insurance is an agreement between an insurance company and a car owner under which the former provides an insurance cover to the policyholder for financial damages incurred by his/her car in unforeseen events. Depending on the coverage, there are three types of car insurance plans - third party insurance, standalone own-damage insurance and comprehensive insurance. Car insurance renewal online process provides instant e-Policy.
Why should I buy car insurance?
There are a number of benefits of owning four wheeler insurance. Firstly, it helps you meet the legal requirement of owning at least a third party cover. Moreover, an insurance policy helps you meet financial liabilities that may arise towards a third party or own damages to your car due to a road accident or any other unfortunate event.
How much fine do I have to pay for not holding car insurance while driving?
It is mandatory to own at least a third party car insurance policy while driving a car. If you get caught driving without it for the first time, you may be charged with a fine of Rs. 2,000 with or without imprisonment of a maximum of 3 months that can increase to a fine of Rs. 4,000 and/or jail of up to 3 months, when caught for the second time.
How much is car insurance premium?
The premium rates for third-party car insurance price depend on the engine capacity of the car and is fixed by the IRDAI. However, the premium for standalone own-damage and comprehensive car insurance policies varies from car to car depending on a number of factors such as car's MMV (Make, Model and Variant), RTO location, engine capacity, registration city, fuel type,
What if my car insurance policy gets expired?
Every car insurance comes with a validity period, post which you need to renew it to continue to enjoy its benefits. However, even if you miss to get your insurance plan renewed by the expiry date, you can still get it renewed till the next 90 days from the date of expiry. After the expiry of this 90-day period, car insurance cannot be renewed. In such a case, you need to purchase a new car insurance policy.
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