Best Car Insurance Companies In India In 2021

According to the Motor Vehicles Act of 1988, it is mandatory for vehicles plying on Indian roads to possess car insurance policies. In this regard, general insurance companies have curated various car insurance plans that offer financial coverage against any unforeseen incidents.

There are several insurance providers in India offering a host of products, but categorically their products are of three types. It is crucial to know about these policies to choose the best insurance policy in 2021 –

Comprehensive coverage plans
Third-party insurance plans
Own damage cover

Comprehensive coverage plan

Insurance policies like these provide extensive coverage for liabilities arising in the due course of an array of unforeseen incidents. It includes both natural and man-made calamities.

Moreover, these policies are inclusive of third-party liabilities to limit your financial burden in case of any injuries to individuals or damages to other's properties. Along with this, it also provides a personal accident cover to the owner-driver of the insured car.

Third-party insurance plans

These mandatory motor insurance policies protect the financial interest of policyholders against any third-party liabilities. This includes physical injuries as well as property damages caused by an accident involving your car. However, this policy does not extend coverage to the policyholder or the insured car.

Own damage cover

This particular car insurance policy type is quite the opposite of what a third-party insurance plan is. Here, only the insured car and the policyholder receives financial coverage in case of an accident. Nevertheless, a vital point to remember here is that such policies are only available if you have already purchased a third-party insurance plan.

Along with these, zero depreciation add-on with a car insurance policy is quickly gathering traction among car owners. This policy does not take a vehicle's depreciation cost into account when it comes to determining the sum assured. If you are searching for the best car insurance company, you must check for the benefits extended under each of these policies and choose accordingly.

Quick Guide For Zero Depreciation In Car Insurance

Some parts of your car face wear-and-tear faster than the others and these parts are often referred to as depreciated parts. Once you file for an insurance claim, the insurance company deducts a value equal to the depreciated value of all such parts and does not settle your claim in full. The parts that are made up of rubber, plastic, fiber, etc. fall in this category. If you want to avoid this deduction from the final claim amount, you can avail of a zero depreciation car insurance cover. It is also known as nil depreciation cover as it nullifies the deduction from the claim amount due to the deprecated components of your vehicle. The benefits of a zero depreciation car insurance policy are stated below: Comes at a reasonable price If you have already purchased a comprehensive car insurance policy, you can avail of a zero depreciation car insurance cover at a nominal price. It is because it is an add-on insurance policy that only enhances your claim amount to reduce the part of ...

Necessary Information On Hospital Cash Insurance Plan

Medical treatments these days are a matter of the huge amount of money. And if you need quality treatment facility from the super-specialty hospitals and clinics you need a medical insurance plan for you and your family. If you are planning for the medical insurance plan with hospital cash cover , then be sure to consult with the best insurance plan provider. Let us discuss in details. Financial companies such as reputed NBFC Bajaj Finserv and other insurance companies have their own health insurance policies that range from smaller amounts of bigger amounts. All these medical policies fall under the pocket insurance policy scheme. It gives clients the facility to get benefits with minimum investments. The procedure is quick and does not require lengthy documentation. You can get a higher amount of money with such hospital cash insurance to continue medical treatments even for critical patients. Just make sure you read the policy details clearly before yo...

Stay Protected on the Road- Understanding the Importance of acko car insurance

Having a car insurance policy is essential for every car owner. It not only provides financial protection in case of any damage or loss but also ensures a safer driving experience. Acko is one of the leading car insurance providers in India, offering a wide range of insurance plans to suit the needs of all car owners. In this article, we will be discussing the importance of Acko car insurance in India and how it helps to stay protected on the road. We will also look at the various benefits and features of Acko car insurance policies that make them an ideal choice for car owners. Understanding the Importance of Acko new car insurance in India As the number of vehicles on Indian roads increases, so does the number of accidents and other related incidents. Traffic jams, road rage, and bad driving habits are some of the major causes of accidents. It is important for drivers to stay safe on the road, and to do so, they must have a car insurance policy. Acko new car insurance is one...

All Insurance News and Plans

Search This Blog