Car Insurance in India is governed by the India Motor Tariff, so the coverage for your vehicle will be based on standard parameters across all insurance company providers. Moreover, Car Insurance is mandatory and needs to be renewed every year.
According to the India Motor Tariff law, the minimum car insurance which is mandatory for customers is third party insurance. Besides, you can always buy a comprehensive car policy for your car that keeps it secure against damage caused by natural and man-made calamities, including acts of terrorism. A comprehensive car policy helps you avail of own damage, personal accident and liability cover all in one policy.
Vehicle insurance should not be bought with the motive of just buying insurance for your vehicle rather it should be bought with the aim to protect you from any financial setback which may arise due to an accident. Hence, one should opt for comprehensive car policy covering own damages as well as third party damages. Therefore, government also emphasizes on buying insurance for your own good.
Buying an appropriate insurance policy is often a complex task because of the non-understanding of various pros and cons, jargons etc. in the policies. We do research using several comparison tools but still sometimes end up buying the wrong policy without understanding its coverage and various clauses. While there are several ways to buy an insurance policy such as you approach an insurance agent, you visit the insurance company one good option is purchasing car insurance online.
The online medium is far too convenient and simpler as you can buy insurance sitting at your home. All you need is a computer and an internet connection. When you visit these insurance companies, you are presented with various comparison tools. They provide you different kinds of calculators to compare policies offered by different insurance providers. To be able to compare polices offered by different insurance providers, it is very important to know the particular premium for each policy. The insurance premium is the main differentiator when it comes to compare vehicle insurance India. You can also compare on features, benefits, discounts, payment modes etc. on car insurance online.
While buying car insurance online there is a vehicle insurance premium calculator which helps you determine the premium of the insurance policy for your vehicle. This calculator helps you understand details and clauses that are a part of automotive insurance policies. It is important you understand them very well as they affect the premium of the insurance policy. Every customer is not same as they have their own specific requirements and vehicle insurance premium calculator helps them to evaluate policies as per their requirements. The more benefits you get the better you can compose your car insurance policy.
Premium calculators also help you to understand the structure of your insurance policy. Every vehicle insurance comprise of three different parts which are third party insurance cover, own vehicle damages as well as personal accident cover. Third party insurance cover is mandatory as per the law but there may be existence of personal accident cover as it is not compulsory. So, online vehicle insurance provides you these tools to understand insurance coverage as well.
While calculating car insurance online the premium calculator will ask for following things:
•Date of registration: Most of the calculators ask the date of registration of your car
•Car details: It includes type of model along with manufacturer’s name and total cost incurred by you
•It also prompts for the additional coverage required by you like personal accident cover for you and your family.