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.
•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.
Great work on this blog...i was looking but can you please brief me about car insurance
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