What Is Car Insurance?
A insurance is that the policy that covers your automobile against money losses that you simply could face just in case of accident or stealing of automobile. You pay a precise quantity as a premium to the underwriter to shop for this cowl, and they agree to pay for accidental damages and theft losses. As per IRDA (Insurance restrictive and Development Authority), it is mandatory for any vehicle running on Indian roads to be covered under an active car insurance policy.
Based on the type of policy and add-ons that you opt for, your car insurance policy may include:
Liability CoverInvoice CoverEngine ProtectorTyre CoverElectrical AccessoriesPA For nameless traveller
Consumable Cover24*7 edge AssistanceNo Claim BonusKey & Lock ReplacementNon-Electrical AccessoriesLL To Paid Driver
How Car Insurance Works
Car insurance is given to you supported numerous factors just like the complete and model of your automobile, what reasonably driver square measure you, and your past car insurance history. You may opt only for a third party cover or a comprehensive car policy based on your need.
The comprehensive policy is a package of different types of features (add-ons) like liability cover, accident cover, invoice cover, consumable cover, engine cover etc. All these square measure mentioned in an exceedingly separate section on our web site.
Please note, whereas shopping for a insurance, you are required to choose a deductible, which is the amount you are willing to pay, against the losses incurred. This quantity determines the annual premium you may obtain your insurance. Higher the deductible, lower the premiums.
The underwriter pays a neighborhood of the losses, whereas the deductible quantity chosen by you may be paid by you. For example, if the whole expenses you’ve got in-tuned to urge your automobile repaired once AN accident square measure federal agency twenty,000/-. Your chosen deductible is INR 5,000/-, then the insurance company will pay INR 15,000/- and you will pay INR 5,000/- from your pocket.
While shopping for a automobile policy, selecting a deductible is a crucial step as you pay the deductible for every and each scenario within which you need your insurance firm to cover damages.
If you face a grievous state of affairs together with your automobile, merely claim for insurance and you may be reimbursed as per the eligibility mentioned and add-ons hooked up together with your sort of policy.
You need not go anywhere! Buy your automobile policy on-line at easypolicy.com once scrutiny all the policies and add-ons at simply few clicks!
Eligibility, Documents And method to shop for on-line insurance
In India, if you own a automobile, you’re eligible to shop for insurance. In fact, it’s obligatory, to have your car insured the moment you become the owner. Driving a automobile while not insurance could be a legal offence.
You can obtain your insurance through the corporate you got your automobile from, or directly from a car insurance provider. You can do that offline via insurance agent, however the simplest is to shop for on-line once scrutiny numerous insurance choices as per your specific desires for insurance.
At easypolicy.com, we offer you a comprehensive platform that provides answers to all or any your insurance connected queries and helps you to match and select the simplest automobile policy.
You simply need to fill within the needed details like your name, contact details, car model and make, car registration number, your city and you will get an access to all attainable choices on insurance policies to settle on from.
The documents that you just can would like if you’re shopping for the net insurance are:
Your current policy document, in case of renewal or switchYour driving license copyYour vehicle registration documents with the copy of RC (Registration Certificate)Your address proofA voided check in case you want to line up newt (Electronic Funds Transfer) for premium payment.
Key Advantages And Features
Easypolicy can guide you to the best suited car insurance for you, through its effective comparison tools and exact data driven statistics. Before you get, you need to apprehend the key advantages and options of a on-line automobile insurance:
￼You Fulfill Legal Requirements
As per the Indian Motors Vehicle Act, third party insurance is necessary on all the vehicles. Along with that, shopping for a comprehensive insurance helps you to stay in compliance of laws and set your mind free too.
￼You Can Bear Accidental Damages
If your automobile meets with AN accident, you can simply claim insurance and bear the expenses without shedding loads of money from your own pocket.
￼Third Party Cover Is Very Important
If you cause a harm to a different person’s automobile or the driving force gets hurt, you can bear the damage or loss of limb by claiming your third party insurance, which covers hospitalization and legal expenses too..
Car Damages Due To Natural Calamities Are Covered
If your automobile is broken because of flood, fire or earthquake, your car insurance policy will come in handy to claim for the damages.
You Can Claim Against Theft and Vandalism
Comprehensive insurance provides you cowl against stealing and devilry. You can get your hard-earned a reimbursement if your automobile gets purloined.
￼Enjoy No Claim Bonus
Even if you are doing not face any such state of affairs throughout the year, you get a handsome no claim bonus(NCB) for not filing any car insurance claim. Your next on-line insurance comes cheaper to you. It is vital to shop for a comprehensive automobile policy at the earliest and if you have already got coverage, get wise revived inside time by simply scrutiny numerous policies at easypolicy.com and remain tension free!
situations you may face with your car. It covers accidental damages, medical expenses to self et al. and conjointly, damages because of weather, natural calamities, car theft, and devilry, that don’t seem to be lined in alternative 2 insurances, are covered in comprehensive cover. It is not required by law to own comprehensive coverage, however if it suits your budget, it’s one amongst the foremost necessary insurance policies to own in your kitty if you are a regular driver. It will any be enhances by adding on the riders like NCB (No Claim Bonus), accessories cowl, invoice cowl etc. With the all-encompassing options that this cowl comes with, it’s valuable than the remainder 2.
Tips To Buy Online Car Insurance Policy
Easypolicy, your best insurance authority, is here to share some necessary tips to shop for automobile insurance. Please confirm to think about these points whereas creating your search.
Choosing The Insurance
There area unit 2 kinds of automobile insurance in India:
Third Party Liability Insurance- this can be a mandatory set up for all vehicle house owners and it covers injury to property, accidental death and injury to a 3rd party to the contract. The first 2 parties area unit the insured and also the insurance supplier.
Comprehensive set up This set up covers injury to possess vehicle also because the third party obligations. It conjointly covers felony and damages caused by events like fireplace, earthquake, cyclones, floods etc.
Go for a comprehensive set up as you stay safe and secure from all sides, in an unfortunate event
How To Reach Best Premium
Based on Vehicle – Get your automobile inspected before you decide on a policy. Depending on the age, brand, make, model and fuel of your automobile, compare car insurance online plans and go for the one which offers all inclusive plan in a lower premium.
Based on Claims History – Claimless policies lead to no claim bonus the following year which means you pay a lower premium. Make sure you are doing not claim petty amounts for little accidental repair.
Based on Driver- Keep your automobile one user drive. A vehicle driven by multiple folks attracts higher premiums.
How To Reduce Premium?
If you decide on the next deductible (amount to be paid from your own pocket just in case of accidental repairs), the premium goes down.
If your car has in-built security features, approved by Automotive Research Association of India (ARAI), you enjoy further discounts on premium.
Not filing for claims consecutively for 3-4 years will cause a no claim bonus of the maximum amount as 40-50% lesser premium within the fifth year!
Precautions – don’t build these mistakes whereas shopping for automobile insurance
Declaring scale backd price of the automobile within the insurance type might reduce the premium ab initio, but in case of an accident or theft, this proves real costly, as the insurance supplier can settle the claims as per IDV (insured declared value), only. Hence, invariably attempt to give the proper price of the automobile to achieve most claim advantages.
Never forget to renew your policy in time. You get a grace amount of every week from policy end date. Post that, you lose discounts and different lowered premium benefits!
Get Discounts On Your Online Car Insurance Policy
Save Money, Buy Smart!
Here is a range of smart discounts on your car insurance policy for you to save money and buy smart!
While you cannot do abundant regarding the increase in fuel costs or vehicle shopping for prices, you surely can make a few smart decisions to ensure that you pay a discounted price on your car insurance!
If you’re aged between thirty five to forty five years, you are eligible to enjoy a discount of 5% on the OD premium. This discount any will increase to 100 percent, if you belong to the age bracket of 46 to 60 years.
When you install AN ARAI approved anti-theft device in your automobile, your insurer gives you a reward by providing you with a 2.5% discount on the Own Damage (OD) premium.
No Claim Bonus
For every claim free year, you’re entitled to receive a reduction, which can begin at 2 hundredth and increase steady to a banging five hundredth of the renewal premium quantity. What’s more, this NCB is transferable, every time you buy a new car or switch to a new insurer.
Are you a active comptroller, doctor, defense personnel, a teacher in a Government recognized institution, or an employee of the State/Central Government? If yes, then you’re up for a further discount on the OD premium!
If you are doing not file for any claim throughout the year of your automobile insurance policy, you get to enjoy no claim bonus. This comes in style of discounts on premiums for your next policies. For example, you get 2 hundredth discount on the premium you buy your next policy when a claim free year. This can go up to five hundredth if you are doing not claim AN insurance for five continuous years. In case, you’re needed to file even one claim in AN unforeseen event, your NCB will become zero. But, with NCB cowl in your policy, you can keep your bonus intact and still claim insurance.
Voluntary Excess Discount
Voluntary Excess or a deductible is that the minimum quantity you declare to pay within the event of a claim. The higher the voluntary excess, the lower are your premium! Now, once you ar trying to find a automobile insurance quote at easypolicy.com, don’t miss out to mention these details! A little forethought will go a protracted thanks to get you additional discounts!
Expert recommendations on thinning out Your automobile insurance Cost!
Looking for some knowledgeable tips for cutting your automobile insurance costs? Hunt no any, Easypolicy is your best authority on everything associated with insurance:
￼Always get Your automobile Policy on-line
When you get your automobile policy on-line, you save heaps of your time and energy, and nail the most effective deal while not paying your hard-earned cash to the brokers.
While creating an internet deal, since, you’re shopping for directly from the underwriter, any distributor’s margin or commissions thence, square measure fully eliminated.
One more secret is, once entire policy commerce and shopping for method is carried on-line, that cuts down the value considerably, the underwriter shares the savings with the purchasers within the style of lower premiums.
Making tiny Claims Below office 5000/- Goes Against You
Making tiny claims that ar shut or but the deductible (damage to be borne by the customer) makes no purpose because: You gain little or no or nearly nothing. You lose on your NCB (No Claim Bonus) whereas revitalising your policy.NCB typically starts at 2 hundredth at the tip of the primary claim-free year and will increase steady with each claim-free year planning to a most of fifty
￼Save By revitalising Your Policy Before It Expires
As per law, your vehicle should be insured if it’s being driven on the roads. If it’s not insured, you’re entitled to induce fined by the road traffic authorities. Therefore, insurance on-line renewal in time ar should that assist you to chop your insurance price too. Here’s how:
If the policy has nonchurchgoing for a substantial amount of your time because of non-renewal then you will be needed to shop for a brand new insurance policy so as to suits the law which might price you abundant beyond the previous one. Renew before the previous one expires and save your cash.
Save on the fine and late fee which is able to be supported the lapse time between the policies. within the time lapse, once your automobile is running on the roads while not AN insurance, you’re attracting heaps of risk. Moreover, if you encounter AN accident or a automobile thieving therein amount, you may need to bear all the expenses on your own. With these handy cut tips, it’s time to check insurance on-line policy type easypolicy.com NOW!
Factors That have an effect on Your insurance Premium
Here ar some vital factors that have an effect on your insurance premium:
Age and Gender
If you’re within the people of 18-25 years, you may need to pay a better premium as this is often AN accident prone people, as per the insurance statistics.
Anti-theft Safety Discount
If your automobile is fitted with AN ARAI (Automotive analysis Association of India) approved anti-theft device, you relish an extra discount of two.5%.
Fuel kind you utilize for Your automobile
If you drive gasoline automobile, you pay lower premium, if you drive a CNG, your insurance comes at higher premium, as a result of the probabilities of unforeseen harm ar higher.
Car Model and Variant
If you own a high priced or high finish automobile model, like Bentley, Audi or BMW, you may pay a far higher premium. just because the thieving rates for such vehicles ar higher, the worth of the vehicle is far higher and also the harm price is additionally quite expensive.
No Claim Bonus (NCB)
If you probably did not build any claims throughout your insured year, you mechanically get entitled to NCB that varies from 100% to five hundredth discount on premium, relying upon variety of claim-less years. you’ll even transfer your NCB to a different policy.
Township that The Insurance is needed
If you reside in a very swish colony or a vigorous administrative division, you pay higher premium. In urban aras wherever possibilities of accidents are beyond scarcely inhabited areas, the vehicle insurance is provided at a reasonably high premium.
Car Make/Year of Manufacture/IDV
Older car, lesser premium, new automobile higher premium you pay. it’s terribly straightforward. The year of manufacture directly effects the IDV (Insured Declared Value) of your automobile. The older is that the automobile, lesser is IDV that is calculated as per the present value of the automobile. The lesser is that the IDV, lesser goes the premium.
Additional Discounts supported Profession
If you belong to the class of defense personnel, doctors, government staff, or police, you’re entitled to induce a further discount on the premium, by default, as per all the insurance corporations rules.
At Easypolicy, you’ll key altogether the factors and reach the most effective premium worth as per your wants, in precisely some clicks!
How Easypolicy Helps to achieve the most effective automotive Insurance!
A car insurance is should if you’re driving on Indian roads. Easypolicy could be a comprehensive platform wherever you’ll gather all data and purchase the most effective automotive policy with none problem. just because with U.S.A., shopping for a automotive policy is:
1. Easy 2. Affordable 3. Trustworthy
We offer:Customized quotes matching together with your actual needs, leading to immense savings on your automotive policy.Compare automobile insurance on-line, to filter your needs through our speedy, correct and reliable algorithms.Best and reasonable quotes once examination the premiums with varied insurance suppliers across the superfluity.The best automobile insurance policy, which can come upon thus excellent, that you simply can ne’er got to worry.
At Easypolicy.com you’re additionally benefitted with skilled recommendation and hands on help supported your key wants.
We provide you:
Informed, unbiased, and clear results to assist you decide on the automotive policy best suited to your vehicle.The help to travel through the automotive policy purchase method, in order that you sail swimmingly and land at the most effective insurance set up.Instant policy in your mailbox, while not rummaging long overtaxing method of filing forms.Quick, straightforward and reliable on-line payment ways to save lots of time and energy.
All this can be completely freed from Charge and involves no paper-work at all!
From changes in your existing policy to the tough queries you’re too afraid to raise, we’ve got a fast, straightforward and friendly answer to all or any.
Here’s a fast run through of the insurance bounties being offered at Easypolicy, for fast and simple automotive policy purchase.
1) easy Hassle-free Process2) fast and simple Purchase & Renewals3) Claims help in the least Times4) Short and easy Forms To Be Filled5) Nationwide Documents obtain Facility6) Live Policy following Resource7) Advanced Feature Filters for bespoke wants
We ar over glad to tend to any queries you will have. decision U.S.A. or write to us!
Car Insurance on-line Renewal method
Car Insurance Renewal is one among the foremost necessary, thoughtful and accountable steps to require, so as to stay your automotive safe and your expenses under control. just in case your automobile insurance policy has expired or on the point of expire, it’s terribly straightforward to induce it revived at your insurer’s web site or at easypolicy.com. forever bear in mind that switch to a different underwriter or revitalizing your policy with identical underwriter, each are hassle-free and simple processes if you are doing it before your policy expires or among the grace amount.
What is Grace Period?
Some insurance suppliers provide grace amount that permits you a time of three to thirty days once the your policy expired , to induce it revived while not loads of further value.Â don’t overuse it or take undue advantage of it. Use it only if you completely would like it. Some insurers could levy a late fee for mistreatment the grace amount. the purpose to recollect is that not all corporations provide a grace amount. you want to check that at the time of shopping for the policy, whether or not you’re entitled to grace amount or not. If you’ve got uncomprehensible the renewal before end or among the grace amount, you’ll still savvy revived, however with a bit additional effort and a bit more cash.
Let us bear the necessary steps of automobile insurance on-line renewal:
￼Renewal Before The Policy end
Get in-tuned together with your insurance supplier and raise them for the documents for policy renewal. The agent can visit you and assist you to file a renewal while not a lot of of paper-workAlternatively, visit the insurance provider’s web site and opt for on-line renewal, saving loads of your time, efforts and extra prices.Furnish the data needed by the insurance supplier.Choose the add-ons or advantages you would like together with your revived policy.Make payment through crossed cheque or on-line transfer and be the owner of a legitimate automobile insurance policy.
￼Renewal among Grace amount
Find out the late fee of revitalizing the policy in grace amount and pay.Make sure you’ve got all the dues and unfinished premiums paid.Choose the policy you would like to travel for, once checking completely for any changes or add-ons you will would like in revived policy.Furnish the desired data by the insurance supplier and gather your revived policy once creating due payments on-line or through a cheque to the underwriter.
￼Renewal Outside Grace amount
If you didn’t renew the policy among the grace amount your automobile insurance policy dies. If there’s a big loss of your time once the end, you will not be eligible for a renewal with identical underwriter. you will got to purchase a replacement policy altogether.
Here ar the adversities of not revitalizing your policy among time:
Higher PremiumsLoss of Previous BenefitsFines LeviedFresh scrutiny of The VehicleLoss of NCB (No Claim Bonus)Lot of Legal bother With Police ANd Authorities Driving while not InsuranceHuge Expenses just in case You Meet AN Accident while not An policy
Details To Be fitted out For automobile insurance Policy Renewal:
Your Name (As on official documents)Your Contact variety and E-mail idYour Vehicle number and replica of The RCThe Existing policy variety
How To Claim Your automobile Insurance!
Here we have a tendency to bring you many imperative tips about a way to claim your insurance, in any of the subsequent situations.
When Your automobile Meets associate degree Accident!
1)Keep the copies of your insurance work up to this point and intact. These ar the foremost vital instruments that may get you your claim.
After associate degree accidental harm, forthwith take photos of the harm done. It ought to be wiped out each the cases, if the accident was your mistake, or some other person caused the harm.
Call for the cops. it’s of utmost importance to activate the legal method forthwith which is able to facilitate vastly at the time of filing for claims. Let the cops examine the vehicle and note of the concerned folks and vehicles.
If it’s attainable, if the opposite party has not run away, record the small print of the opposite vehicle as well as the model variety, vehicle variety, create of the automobile and a lot of of such details. These details are needed to file and obtain the claim swimmingly.
File associate degree FIR that is incredibly vital for the claim method. Filing FIR is obligatory within the third party liability claim and while not it, to form a claim are terribly troublesome for you.
Make a decision to the representative of the nondepository financial institution you’ve got been addressing, at the earliest.
Take steering from the representative on a way to proceed and what forms or documents are needed to support your claim.
Your nondepository financial institution would require a “proof of damage” type still as records about your claim (such as medical bills, automobile repair bills and a duplicate of the FIR). they’ll or might not be lined in your policy relying upon the kind of policy and riders.
Present all the right and valid data to the representative that is that the right issue to try to to for claiming the insurance.
Inspection officers are sent by your insurance supplier to examine and assess. this may embody review and verification of the harm to the automobile, examining the proof of any injury claims, associate degreed an initial payment.
In Case of A automobile thieving
Lodge associate degree FIR with native station forthwith while not wasting any time.
Call the insurance supplier workplace and inform the thieving.
Call the RTO (Road Transport Office) and inform the thieving.
Fill the form offered by the nondepository financial institution, providing the data like policy variety, vehicle license number, RC number, date time and tiny description of the incident wherever the thieving befell
Submit the subsequent to your insurance supplier
The punctually Signed Claim FormThe Original Copy of the FIRCopy of The Policy DocumentsA Copy of The Driving LicenseThe Original Keys of The CarCopy of the letter addressed to the RTO intimating theftCopy of The Vehicle’s RCRTO Transfer Papers punctually Signed beside the mandatory Forms (Form twenty eight, 29, 30 And 35).
Once the native station submits the ultimate no-trace which implies the vehicle couldn’t be found and also the claim is approved, you need to transfer the RC of the taken automobile in favour of the nondepository financial institution, hand all sets of keys and issue a letter of substitution to the nondepository financial institution. though filing a insurance claim is fairly simple, it’s vital to try to to it properly alternatively the claim will become null and void.