All Insurance News and Plans

Car insurance or any 4-wheeler insurance is an extensive policy that helps in managing the huge financial expenditure, third party tackling cost along with legal proceedings. It covers various costs factor of the insured vehicle when any unpredictable situation befalls. According to the motor insurance act of 1988, the vehicle owner must have third-party car insurance to drive on roads. When can you use your car insurance plan? Usually, 4-wheeler insurance can be used in various circumstances and situations mentioned below. They are,  When any significant damage is caused to the insured vehicle because of accidents  You can claim your 4-wheeler insurance if your vehicle is damaged due to any self-ignition or fire outbreaks.  Any damage caused to the vehicle by the occurrence of natural disasters like earthquakes, floods, landslides, etc., can be claimed under your insurance policy.  With your 4-wheeler insurance, you can also tally the damage caused to the driver o...

Paying for an expense that involves the repair of your vehicle is less painful than paying for an expense incurred for the repair of someone else’s vehicle. If you want to get rid of this unnecessary pain, you need to have third-party bike insurance or car insurance in place. Additionally, as a law-abiding citizen of the country, all vehicle owners must have a car/bike insurance plan as it is mandatory as per the Motor Vehicles Act 1988. How does third-party car/bike insurance work? In case you meet with an accident and a third-party individual or vehicle is hurt or damaged from your vehicle, you become liable to pay for the hospitalization cost of the injured person or damaged vehicle. However, in case you have a car/ bike insurance plan in place, you do not have to worry about these additional costs.  -         Your insurer will pay for the costs incurred in case of third-party damage up to the limit of the sum insured. -         Your in...

A car is an extremely expensive asset but, at the same time, is also a prized possession. The costs of cars in India can range from Lakhs to Crores, and even a small dent on your car is very disturbing and incurs a substantial cost of repair. Now, suppose your car is damaged in an accident or due to third-party negligence. In that case, there will be a considerable cost of repair that you have to bear, and hence having car insurance is very necessary to save yourself from substantial financial losses. While there are car insurance plans that pay for the cost incurred in case of damage to your car, there is also a third-party car insurance plan covering the cost incurred in case of third-party damage. Though no one wants to harm anyone or anyone’s vehicle, road accidents can happen anytime. Hence, if you're going to save yourself from paying for someone else's car repair or hospital expenses, you must have car insurance cover. Also, all car owners must have third-party car in...

If you own a vehicle, you need third party car insurance. It is mandatory as the law in India stipulate it. This insurance gives you peace of mind knowing that your policy will cover a pedestrian, passengers of another vehicle and property damage should your vehicle be involved in an accident. However, if you are looking to cover your property and life, you should opt for comprehensive car insurance. This insurance policy also covers third-party. Here are a few things that you should know about your car insurance: If you do not make any claim in a year, you will be eligible for No Claim Bonus. The bonus keeps increasing for each year that you do not make a claim. You can use the bonus to get a discount on your car insurance premium. There is a maximum limit to No Claim Bonus. It cannot exceed 50% of the premium amount. Did you know that it is possible to transfer the No Claim Bonus and other insurance benefits from one insurance provider to another, one car to another car a...

If you already have car insurance which you are not satisfied with, it is high time to switch the company. If you notice yourself struggling with the following points, then you must switch to a better insurance provider.   Insufficient additional insurance cover The comprehensive insurance does not provide sufficient protection for your car. So if your insurer does not offer add-on covers, it’s time to switch the company.     Poor claims settlement and customer support Check the reviews to ensure that the insurer offers every service that is promised. If they don’t, switch the company. Moreover, switch the company if it doesn’t provide 24x7, 365-day support. Cost of motor insurance  The insurance premium is calculated based on factors such as your age, your previous accident history, model and make of the car. The insurance plan is re-evaluated every two to three years based on the above parameters; which can change the cost of insurance offered. ...

As per the mandate issued by the Government of India, third-party insurance is a compulsory requirement for every car and motor vehicle owner. Apart from that, the mandate also makes it necessary for automobile owners to have comprehensive car insurance in place. This not only covers the insured from the expenses incurred in a road accident, but the legal financial liability to the third-party is also paid off by the insurer.  So, in and all, having insurance is more than essential. That said, it is equally essential to be aware of your car's value for determining the most suitable auto-insurance coverage. How? Is there a way one can determine the actual value of his/her car before taking insurance? The answer is YES. One always has the option to determine the car’s replace-cost versus cash-value. What is a car’s replace-cost versus cash-value? As the terms suggest, 'actual cash value' is the value of a car at any given point of time. The same is determined w...

According to the Motor Vehicles Act of 1988, every vehicle plying on Indian roads must have a valid third party insurance. It has a number of benefits as it covers the legal and financial liabilities apart from providing personal accident cover up till the prescribed limit of the policy. To avail an insurance, you can visit the insurer or purchase the third party insurance online which will also help save a lot of money.  What is a Third Party Insurance? It is an insurance policy which kicks in in case of any unfortunate event wherein the insurer pays you for the legal and financial liabilities incurred due to the damages caused by your vehicle to a third party. What this entails is that if your car were to get involved in an accident with another vehicle and you are the one at fault, then any liabilities which you have to pay to the driver of the other car will be borne by your insurance company and paid on your behalf. Inclusions of Third Party Insurance If your...

Do not buy a car insurance just for the sake of having it! If you choose any car insurance, you will not get the adequate protection cover during an accident or damage. So, it will be advisable to check online insurance details, compare among all and then make the right choice by comparing several parameters including costs. What is a car insurance? A car insurance is a contract between you and your insurance company, where the insurance company gives you the coverage against financial losses due to damages to the car. You should be aware of all the facets of car insurance policy before finalizing a product. The insured declared value of your car and the car insurance premium is linked to location and cubic capacity of the vehicle- you must be aware of all these factors. A third party or a liability motor insurance cover is mandatory in India and it will provide financial coverage in accidental damage to you and others or the property involved in an accident. Comprehensive i...

A third party car insurance offers cover for any legal and financial liability against any third party, in case your vehicle gets involved in a mishap like an accident. The third party car insurance provider bears any claims for damages to property or bodily harm caused by the policy holder’s vehicle to any third party. Claims are made to Motor Accident Claims Tribunal and the insurance company provides financial cover on behalf of the policyholder. There is no fixed limit for death or injury that is caused to any third party.  Here are the details of this policy -  A normal policy is divided into three categories - for bodily harm compensation per accident per victim, for overall bodily harm limit per accident and for property damage. Policy seekers can buy the policy based on estimation on how much coverage they might be needing.  The main advantage is the financial cover extending up to Rs. 7.5 lakhs. This is born by the insurance provider in case your v...

Third party liability in car insurance is when you are subject to pay for damages of third party if you are at fault in case of an accident. It can even cover you in such a situation. It pays for the damage caused by your car to other people's vehicles and property. However, it won’t pay for the damages to your car if you are at fault. It is also mandatory under the Motor Vehicles Act, 1988. It is recommended to buy enough liability coverage on your car insurance to save yourself from additional costs and even bankruptcy in case of severe collisions caused by you. Before signing up the policy read offer documents carefully to ensure you are financially covered. Features & Benefits It covers damage to third party vehicle or property caused by the insured. It provides legal cover to any injuries or even death of third party and expenses incurred like hospital care, medical costs, lost earnings, and replacement or repair of damaged property and...