Why You Need Car Insurance
- Lawful requirement: The Motor Vehicles Act of India has made it mandatory for all vehicles operating in public areas to be covered by car insurance. Third-party liability policies are mandatory for all cars however, you may choose to purchase a comprehensive car insurance policy as well.
- The most effective investment A comprehensive insurance policy guarantees that the car is protected from the cost of repairs in the event of an accident. Also, it will cover the policy holder for bodily injuries. If a collision occurs between vehicles amount of compensation could be thousands of rupeesor even thousands.
- Provides security: Having a car insurance policy gives peace of mind knowing that you are able to cruise along an expressway or even glide through busy traffic without worrying about the potential consequences of accidents.
- health insurance increase A lot of automobile insurance policies offer coverage for any injuries you suffer or injuries suffered by fellow passengers in an accident. If the policy you pick doesn’t provide this coverage however, you may opt to buy the personal protection you need as an additional coverage, and this will enhance your health insurance by providing protection for things that might not be covered under the health insurance plan you have chosen.
- Time to save: If you are involved an accident, you must repair your vehicle and pay for the costs that are incurred in repairs to your vehicle for a third party cover the cost of treating any injuries suffered by you or a third party filing claims, finding the right garage, etc.
How Car Insurance Can Protect You:
- damages: Cars are expensive to buy and maintain, and the repair process if they are involved in accidents could be expensive also. There are instances that your car may suffer damages due to an accident caused by a third party. The insurance coverage for your car ensures that your losses are covered from the insurance provider.
- Low liability There is a requirement to carry Third party liability auto policy in India. This policy offers protection against legal responsibility for an accident that you caused. In the event, for instance, you drive your car on the premises of a third party the insurance company will cover legal consequences and also cover the repair costs to the property that was damaged.
- Hospitalisation costs: While some accidents aren’t too severe but there are others that cause the passenger and driver to suffering more than small cuts and bruises. There are occasions that people suffer from broken bones or other injuries that require them be treated in a hospital. With the speed at which hospitalisation and medical expenses are on the rise in India having an insurance policy for your car can ensure that you do not make a dent in your pockets during moments like these.
- Indemnity for entire family: In some instances, an accident in the car can cause to the death of the car owner. If you’re the sole breadwinner in the family members, it could be very difficult for your family members and children to live on in the absence of you. Car insurance policies will cover any expenses your family faces in the event of your death, for example, funeral costs.
- Lower cost purchasing online: Purchasing a car insurance policy online is less expensive as premiums are usually lower. The reason is that operational costs are less to the insurer when purchases take place online. Because there aren’t any commissions due for brokers. The company can pass the advantage of lower prices to the client. Renewing your insurance online is easy and painless and also cost-effective.
Important Point Before Purchasing Car Insurance
1. Do your research
It is necessary to review several plans before settling on one that will best suit your needs for insurance on four-wheelers. You’ll need to look at different aspects like the price of the premium, the rate of settlement for claims by the insurance company, the amount of insurance coverage, the benefits offered and more.
A Claim Settlement Ratio (SLR) of the insurance company needs to be inspected to ensure you are able to have a smooth claim process.
3. Third-party insurance is a requirement
If you’re purchasing an automobile for the beginning, an dealer will provide you with insurance through third party. If not, you’ll be required to purchase it through an insurance company or broker.
4.Understand the document governing policy
It is important to go through the policy to learn who is covered, what much coverage is offered and what are the exclusions and inclusions and more.
5. Comprehensive coverage provides greater security
Not only will it safeguard your vehicle and you, but it also takes responsibility for claims of third-party individuals for the damages they have that they cause to their vehicle or body.
6. The need for additional cover should be considered in your risk profile
By purchasing additional covers to your insurance policy for cars can provide you with enough protection against a variety of situations in the event of an accident.
7. Regularly evaluated
Experts advise you to examine your insurance policy every year to determine whether you are covered adequately or do you require additional coverage.
8. Credit score
The score of an insurance company based on credit of an individual may determine the rate of premium that is applicable to the individual.
9. Personal accident coverage should be considered
The advantage of this type of insurance is that it gives worldwide coverage and will cover all legal costs. It can also be customized according to the requirements of the person.
10. Deductibles that are voluntary
By choosing this option it means that the expense of repairs caused by accidents will be split between you and the insurance company and you’ll pay a lower amount for insurance.
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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