Car Insurance Starts @ ₹2094/year*Cover for Damages & Theft with Zero Paperwork
Car Insurance Starts @ ₹2094/year*
Cover for Damages & Theft with Zero Paperwork
Car Insurance
Car insurance policy secures your vehicle against losses that might arise due to unforeseen scenarios like theft, fire, man-made disaster, floods, earthquakes and other natural calamities. With the festive season approaching, you must take a step to provide complete protection to your vehicle and, therefore, buy or renew car insurance online. Any damage to the car due to unwanted events can lead to heavy expenses, draining your hard-earned income. So, it is always wise to have a car insurance policy for your vehicle, as it will provide coverage for losses due to any insurable peril according to the terms and conditions mentioned. However, buying a comprehensive car insurance policy is advisable for full-fledged vehicle protection.
Having a third party car insurance policy is a mandatory requirement as per the Motor Vehicles Act of 1988. However, you can buy a car insurance policy that best suits your needs, either opting for a stand-alone own-damage cover, comprehensive or third-party insurance cover. Make an informed decision and ensure you buy/renew car insurance online without much delay. HDFC ERGO offers car insurance policies with affordable premiums and has a network of 6700+ cashless garages. You can also customise a comprehensive car insurance policy by opting for add-on covers like emergency roadside assistance, zero depreciation and engine gearbox protection to get full-fledged protection for your vehicle.
Car Insurance Coverage
The coverage in your car insurance policy depends on the type of policy that you have selected.
Third Party Car Insurance Plans cover the following types of financial liabilities that you might face in a mishap involving your car–
Physical Injury
You accidently injured a third person while driving your car? Don’t fret; we cover for the medical expenses
Death of an Individual
If an individual seems to die because of an accident involving your car, we cover for the financial loss.
Damage to the Property
Property damages suffered by a third party due to your car, are covered under this plan.
Apart from covering your vehicle against third party liabilities, a comprehensive car insurance policy provides coverage for the following -
Accidents
Suffered an accident that damaged your car? Don’t worry; the damages would be covered under our car insurance plans.
Fire and Explosion
If your car catches fire or explodes, the damages suffered would be covered by us.
Theft
Why worry about the theft or loss of your car when we are here to secure you against it. Get compensated for the financial loss suffered if you lose your car to theft.
Natural/Man-made Calamities
A comprehensive car insurance policy will cover damages from natural disasters and man-made perils like riots and strikes.
In-transit Damage
Suppose your car gets damaged during transportation. Our comprehensive car insurance policy would cover the said damages.
Personal Accident Cover
If you suffer from an injury in an accident involving your insured car, your car insurance policy will provide coverage for the same.Pay as You Drive Add on Cover
When you have hardly driven your car or use it less frequently, it can become burdensome to pay a hefty car insurance premium. To make the process easier and offer more benefits, HDFC ERGO has come up with the Pay as You Drive – Kilometer Benefit add on cover. With PAYD, the policyholder can get benefits up to 25% after policy expiry.
You can claim a benefit of up to 25% on your own damage premium during policy renewal. When the policy expires, subject to providing distance travelled, you can claim the benefit even with a different insurer. However, if you renew the policy with us, you get an additional 5% discount on the premium if there is no claim in your previous policy.
Compare and Select the Best Car Insurance
| 80% CUSTOMERS CHOOSE THIS | ||
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| Covers under Car Insurance | Comprehensive Car Insurance | Third Party Car Insurance |
| Damage due to natural calamities – Earthquake, cyclone, floods etc. |  |
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| Damage due to events like – Fire, theft, Vandalism etc. | |
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| Personal Accident Cover of Rs. 15 Lakhs (Optional) | |
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| Choice of add-ons – Zero Depreciation and Emergency Assistance | |
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| Damage to third party vehicle/ property | |
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| Injury to a third party person | |
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| No hefty fines levied if valid policy in place | |
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| Customization of bike value (IDV) | |
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Top 6 Factors that Affect Car Insurance Premium
1. Age of the vehicle
As your car gets older, your premium amount increases because an older car is more prone to wear and tear. Opting for a Zero Depreciation cover with your insurance plan will help reduce your premium marginally.
2. IDV of the vehicle
The current value per the market rate is your IDV, and the higher the IDV higher the premium. What can help is increasing the voluntary deductible amount or, in more straightforward language, increasing the amount you shell out in case of a claim. At the same time, the rest is taken care of by the insurer, which significantly reduces the premium amount.
3. Your geographical location
Where you reside and park, your car is also a factor that affects your car insurance premium. If you live in a region prone to vandalism or theft, your premium amount may be on the higher side to offset any potential losses.
4. Your car model
Your premium will vary based on how expensive your car is. More expensive cars with a higher engine capacity (exceeding 1500cc) will have higher premiums like luxury sedans and SUVs. In comparison, base car models with lower engine capacity (below 1500cc) will have lower premiums.
5. Fuel type
Insurance premium for cars that run on Diesel and CNG is more than the premium for cars running on petrol. You can easily find out the premium amount for your car and its fuel type while buying car insurance online.
6. Car safety
Another major factor affecting your car insurance premium is how safe your car is.Insurance premiums for cars with advanced safety features like airbags, anti-lock braking system, anti-theft alarms, etc., make your car less susceptible to theft or accident. Also, these features will help reduce the premium amount.
Things to Keep in Mind before Buying Car Insurance Online
Though buying car insurance online is simple. You should keep certain aspects in mind while buying a car insurance policy.
The type of policy
Firstly, you should select the type of policy that you need for your car. A comprehensive policy proves to be the best car insurance plan. It is always recommended given the wide scope of coverage that it offers. However, if your car is very old, you can opt for third party insurance to fulfil the legal mandate of driving your car.Cashless assistance
The Insured Declared Value of the car is the market value less the depreciation based on the car’s age. The IDV also represents the maximum coverage liability that the insurer undertakes. In case of a total loss to the vehicle due to an insured peril, the maximum claim amount would be the IDV of the policy. So, when buying the best car insurance plan, keep a lookout for the IDV. Choose an IDV that matches the market value of your car so that the claim is higher.
The add-ons needed
With comprehensive car insurance plans, you can opt for different add ons. Choosing the most suitable ones would help in availing complete coverage. For instance, a zero depreciation add on is a must for cars aged up to 5 years old. This add on helps get an entire claim as the insurer does not deduct depreciation value during the final settlement. So, assess the add ons available and choose the most suitable ones. Remember, adding each add on involves an additional premium.The premium v/s the coverage offered
Always compare the best car insurance policy on their premiums vis-à-vis their coverage. A plan offering a comprehensive scope of coverage at the lowest rate of premium would be the best, just like HDFC ERGO’s car insurance policy. Hence, it is wise to always compare the car insurance price with the coverage offered.
Claim Settlement Ratio of the insurer
The Claim Settlement Ratio (CSR) indicates the percentage of claims that an insurance company settles in a financial year. The higher the CSR the better is the company in terms of claim settlement. So, compare the CSR and choose an insurer that has a high CSR.Network of cashless garages in India
The network of cashless garages is a crucial parameter to increase the probability of availing of cashless settlement of claims. If the company has a vast network of cashless garages, you can quickly locate one. You can repair your car here without paying for the costs yourself. So, look for an insurer with a vast network of cashless garages. For example, the HDFC ERGO car insurance policy comes with more than 6700+ ˇ cashless garages across India to service your car.
