All About A Car Insurance!

Car insurance, which is often referred to as motor insurance is helpful in protecting the losses that occur due to any kind of road accident. The loss can also be of theft or of driving on a busy road.  The amount of insurance of car (premium) is decided on the basis of IDV or insured declared value of that vehicle. A little change in IDV can make a lot of deference to the car insurance premium. If IDV is raised, premium is raised and if IDV decreases same does the premium.  It is very important for any of the degree holder to compare from the various options before taking a md car insurance renewal or when buying a new policy.

In this era if advertisements, choosing a right and correct insurance plan is very difficult. The best way to buy a plan is to compare the cheap car insurance rates.  An online research will not only help you to choose the right plan but also to add value to those plans and the other additional values. You can save 55% premium of your insurance if you check and compare the plans before taking them. Smart or potential customers always compare online before buying anything.

Any car insurance has three types of coverage:

  • Third Party Liability Coverage
  • Collision Coverage
  • Comprehensive Coverage


Third Party Liability Coverage: Third party insurance covers you against the third party’s legal liabilities when you are at fault or your driver more particularly. It takes care of the injury or damage caused to you by another party or person. In India, a third party liability cover is mandatory

Collision Coverage: Thiscoverageprotects the financescaused to the damagers/ owners own car. The insured amount of the collision is paid. Theft or vandalism damages are not included in this coverage.

Comprehensive Coverage: Comprehensive package md car insurance policy is the one which is prefer by most of the people. It includes the damages caused by theft, legal liability of third party or personal cover of accident. This policy can be extended further by choosing those add ons like engine protector, medical expenses, zero depreciation or accessories cover.

No Claim Bonus

For every year, where no single claim is made, the insured is rewarded a discount on the premium of renewal. The name of the discount is NCB. No claim bonus is cumulative and it increases every year which ranges between 10% to 50% and can save a lot of money.

What are the benefits of taking carinsurance?

  • Insured vehicle gets the coverage against the loss and damage
  • Insured vehicle gets the coverage against the loss or damage caused to the vehicle due to accident, fire, explosion, lighting, strikes, and natural calamities, act of terrorism, theft orself-ignition.
  • Insured vehicle gets the coverage against financial liability caused by the third party due to injury death or of property
  • Personal cover against accident

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