Types of Car Insurance Policies:
Third-party Car Insurance:
Third party car insurance is a form of insurance for cars which protects the policy holder from legal liability that could arise for a third party in the event in the event of an incident. If you’re at fault when you cause an accident and injuries are inflicted to a third-party or the property of the third party is destroyed, you’ll be covered under your third-party insurance policy. Third-party liability is a requirement in the Motor Vehicles Act, 1988 for people who purchase, own or operate a motor car in India.
- Provides financial assistance as well as legal protection.
- Gives you peace of mind
- Simple and fast purchase process.
- It is easily available
Comprehensive Car Insurance:
If you want to have the most effective protection for your car then the complete car insurance policy is the best choice. Like the name implies, the policy provides complete security. When compared to the third-party liability car insurance policy an insurance policy does not just cover the expenses incurred due to damages or losses to property belonging to a third party and property, but also the damage to your vehicle in the event in the event of an accident. The policy also provides a variety of comprehensive services that cannot be obtained through a third-party liability insurance policy.
A comprehensive insurance plan for your car will pay for the damages that result from vandalism, fire theft, severe weather conditions, as well as natural disasters. Additionally, it will cover damage to your vehicle due to falling objects such as the tree branches.
- Most advanced degree of protection
- Easy to repair your car If it is stolen
- Protection against damages caused by natural catastrophes
- Insurance for damage caused by natural disasters
- Lower legal liability
How to Purchase New Car Insurance
Insurance agents work for insurers and get compensated through the insurance company in order to promote their products to their customers. They are experts in the insurance options offered. They have the experience and the experience to assist you and guide you pick the policy that is best suited to your requirements.
Automobile dealers sell their vehicles to clients, and these vehicles are sold with third party liability insurance. Dealers typically are associated with insurance companies, and might not be knowledgeable about insurance policies. They manage the paperwork required to avail an insurance policy that is third party liability that is sold by the dealership.
Brokers may be either corporations or individuals that have been granted a license by the Insurance Regulatory and Development Authority of India to market insurance products. Brokers sell products that could be offered by various insurance companies, as they possess the experience required to assist to make the right decision. They also offer help with after-sales services. Brokers can assist you in comparing various policies to determine the most suitable one for your needs. Brokers are also able to assist in the process of settling claims.
Car Insurance Claim Process for Damages to Your Own Car
In the event of damage to your vehicle The process for filing a claim on your insurance is like this:
Step 1. If you are involved in an accident or observe the vehicle has been damaged then you must contact the insurance company to notify them of the incident. It is also necessary to submit a completed claim form along with the documents needed by the insurance company. The forms are available for download from the official website of the insurance company you have.
Step 2: A surveyor is going to be provided by your insurance provider to examine the damages sustained from your car. A report is created by the surveyor, and sent by the insurer. A copy of the report will be delivered to you.
Step 3: Following repair of your vehicle, the certified forms and other documents need to be removed from the garage and handed to the surveyor, who will forward them to the insurance company.
Step 4. If the documents and claim are approved the delivery warrant (DO) is issued by the insurance company in case of claims without cash. When you’ve paid the repair costs for your car and you are able to take the vehicle.
Step 5: To claim reimbursement, you are able to return your vehicle to the workshop and pay the cost to the shop. The amount will be refunded based on the conditions and terms of your insurance policy for cars.
Car Insurance Claim Process for Third Party Claims
The procedure for filing a car insurance claim for a third-party claim can be described like this:
Step 1: If you receive an legal notification from a third party that seeks reimbursements for damage due to your negligence, you’ll be required to notify your insurance company regarding the matter. It is crucial to talk to your insurer prior to making contact to the other party, or making any settlements outside of court or financial commitments for them.
Step 2. A copy of the legal notice should be delivered to your insurance company.
Step 3. Copies of your FIR, your driver’s license, as well as the RC book of your car are required to be sent to the insurance company.
4. The paperwork will be reviewed by the insurance firm and the details surrounding the accident will be evaluated and if they’re acceptable they will then appoint an attorney to represent you in your case.
Step 5: If the court rules that you have to pay for the damage caused to an uninvolved third party insurance company will pay the other party.
Buy Or Renew Car Insurance [Second Hand, Old & Expired]
Buy or renew Secondhand Car Insurance Online
No matter if you’ve just bought new or used cars the insurance policy can be purchased for any of them.
If you are buying a second-hand vehicle, make sure that the owner already has current car insurance coverage and then get it transferred to your name in the first 14 days after purchasing. When you are insuring your car that you bought secondhand it is essential to ensure:
- The car and the insurance will be transfered to your account successfully. It is recommended to do this within 14 days of the purchase.
- You should be aware about the claim history for the vehicle. It is easy to complete this task by providing your policy’s number to the insurance company for your car.
- If you’ve had car insurance policy in the past, be sure to move your no Claim Bonus to your new car insurance policy.
- If the owner doesn’t have an insurance policy for their car or has it expired, it is possible to cover your vehicle through our website here.
- In the event that you’ve transferred your secondhand vehicle’s insurance into your name be sure to check the expiry date and ensure you renew it prior to or on the day of expiration.
Renew or Buy Car Insurance on an old Car
If you’ve recently bought an oldsecond-hand vehicle or you’ve realized that you don’t have car insurance plan for your car but you are able to cover the car via our website.
Here are three things you should remember when purchasing an insurance policy online for your vehicle:
- Car Use and the type of insurance There are basically two types of insurances for cars: The Third-Party Insurance and the Comprehensive Car Insurance. While we would generally suggest getting an Comprehensive Car Insurance for maximum benefits, you can also opt for a Third-Party Insurance if your plan is not to be using the car often or you plan to sell it in the near future. In this case it’s possible that a Third-Party Car Insurance could make sense since it covers your car’s legal liability.
- IDV (Insured Declared Value) – The IDV, i.e. Insured Declared Valuation is the value you can expect to earn from your vehicle. As your car is old it’s IDV will be too lower (you can alter this through our website when purchasing an online car insurance) due to depreciation that occurs over time, based on how old the car is. The IDV directly impacts the amount of your premium as well as the sum insured. While your premium is minimal, the amount insured would also be small when you make the claim.
- Add-ons Add-ons are the type of policy you can choose to use when purchasing a car insurance policy for your car that you have inherited on the internet. However, this only applies when you’re purchasing a Comprehensive/Standard car insurance policy. These policies provide both your car and you by providing the most comprehensive coverage and benefits, such astyre protector as well as engine and gearbox protection as well as return to invoice etc. If you’re looking to purchase insurance policy for an older car consider which additional features would be suitable or not. For instance, a Zero Depreciation or Bumper-to- Bumper insurance policy is not a good idea for a car that is more than 5 years old.
Purchase or Renew an Expiring Car Insurance Policy
What is the reason it’s necessary to renew your expired Car Insurance Policy on time?
- You’ll lose your NCB The NCB is your no Claim Bonus that accrues for the time that you haven’t filed any claims. The greater your NCB is, the greater your discount when renewing. If you don’t renew your policy prior to when it expires you will lose your NCB and consequently your discount!
- More likely to pay penalty If you fail to renew your insurance for your car in time, you could be charged penalties as the original car insurance policy will no longer be valid when the expiry date is over.
- Beware of the Financial Brunt In addition to the reduction in traffic penalty as well as your NCB by not renewing your insurance policy on time means you could lose the money you’ve earned in the event of an accident that’s unfortunate or a mishap. So, it’s always better to be safer instead of sorry and have your insurance renewal prior to the date that expires of the policy you have already purchased!
Important Things To Know About Car Insurance in India
What are the reasons why Car Insurance is required in India?
However, when it comes to simple things, like car insurance, most people prefer to forget or not think about it, unless there’s an immediate consequence of not having it.
But it is true that a majority of the time these guidelines are designed to ensure the security of people such as us and you.
Let’s consider for instance; what would happen if Third-Party Car Insurance was not required under the law. In this situation, the majority of people would not even have it and, in the event there was an accident both parties would be drowning in nonsense arguments, and then huge amounts of money!
So, even though the main goal of insurance policy is to safeguard the person who is affected by an accident or mishap There is many reasons why the insurance of a car is now mandatory in India.
- Numerous Road Accidents Road accidents are quite frequent throughout India which is one of the primary motives behind why the Motor Vehicle Act has made car insurance mandatory is due to this. In 2017 there more than 1200 injuries that were reported daily because of road accidents! Car insurance will ensure that no one is forced to shoulder the financial burden in the event of a crash.
- Secures the Third-Party: If you happen to bump into someone’s car or a car crashes into your vehicle, having an insurance for cars belonging to third parties in place will guarantee that the third party affected is compensated any car damage or personal damage.
- Helps with Legal Procedures In the event of an accident, it is not just the accident that occurs, it is more than just the damage, it’s the legal procedure that consumes the time and energy of those involved. But, if you have an insurance for your vehicle that is valid legal procedures are also handled.
What are the reasons why purchasing a Car Insurance online makes sense?
Have you ever paid the electricity bill through your central location or, when was the last time that you visited your Kirana shop to complete your mobile recharge? It’s been awhile, hasn’t it?
Due to the internet’s power, the majority of us make use of the internet to do the majority of our tasks completed. Pay your bills, recharge and even place orders for groceries! Technology has developed to the point where we no longer need to go to insurance companies or call our dealers to purchase insurance for our cars anymore.
Now you can buy your insurance policy online. All you need are the car’s basic information and a debit or credit card to pay for your insurance premium. Once you’ve done that Your car insurance policy will be sent to you within a matter of minutes.
- The convenience of purchasing car insurance online can help you save a lot of time. There is no need to spend your time waiting around or calling anyone to get the job completed. You can complete the task from your couch with your laptop in hand and just five minutes left.
- The purchase of a car insurance online allows you to modify your insurance policy for your car. Additionally, it is possible to do this with Digit’s Car Insurance; you can also modify the car’s IDV by yourself.
- The purchase of car insurance is much more sensible since the process of purchasing one is transparent because you’re purchasing it yourself instead of relying upon a third-party person to take care of the job for you.
- The most appealing aspect of purchasing an insurance policy for your car on the internet is there is no need for paperwork!
Why Should You Renew Your Car Policy With Digit?
Over the years, the way we get our vehicle insurance has changed. Digit analyzed the whole car insurance process and found a way to make it more intuitive, seamless and hassle-free. If you are looking to renew your car policy but aren’t sure, then this post is for you.
Digit understands the challenges you go through, the complex jargon and non-transparent pricing. You can now decrease the number of steps you take to renew and buy your car policy.
Why should you pick Digit to handle Your Car Insurance Renewal?
It doesn’t matter if the previous car insurance policy has been with us before or after, selecting Digit to renew your Car Insurance renewal is simple and easy to do and can be done in few minutes on the internet.
Do you want to renew your car insurance by us the very first time? Here are some benefits you can be looking forward to:
- Claims that are quickThe main reason for everyone of purchasing a car insurance policy is to claim quickly in times of need. With our procedures, everything from filing claims to assessing the car damages is done online.
- Cashless repairs to cars It’s not something you’d like to do in the event in the event of an incident is pay unnecessary money from your wallet. This is why we provide the option of repair with cash which allows you to visit one of our garages to get your repairs made without having to pay any additional cost.
- A Large Network of Garages– Cashless service is available exclusively in our garages that are part of our network, but fortunate for us we have over 5800 garages located across the nation which you can pick from.
- Doorstep Pickup and Drop When the necessity arises, for example the car isn’t repaired by the time it is We offer pick-up and drop services so that you don’t need to fret about logistics.
- 24/7 Support So, regardless of what the time or day we’ll have your support.
- Modify your insurance Do not be fooled by anyone who claims to offer low rates and even lower IDVs, which can immediately affect the amount of money you’re likely to receive in claims. This is the reason why at Digit we are a firm believer in transparency and let you customize your IDV according to the requirements.
How do I purchase/renew a Car Insurance Policy with Digit?
- 1. Complete your Vehicle’s Model, Make and Variant. Also, the Registration Date and the city in which you travel. Select ‘Get Quote’ and select the plan.
- 2. Select between a Third-Party Liability only or Standard Pack (Comprehensive insurance).
- 3: Provide us with information regarding your prior insurance policy – Date of expiry, the date of your claim in the past year, and no Claims Bonuses earned.
- 4: You will receive a the price on your preferred. If you’ve chosen the Standard Plan you can customize the plan further by choosing add-ons including setting the IDV, and verifying if you own CNG-powered car. The final cost in the following page.
- 5: Pay your bill then your insurance will be emailed to you electronically!
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