The Significance of Having Car Insurance Policy in India

There is a lot more important of having the best car insurance policy than you can imagine. When it comes to the ultimate protection against all possible unforeseen ill-fated happenings from an accident involving your vehicle, you can’t rely on anything else than an ample motor insurance cover. India is a country of diversity as well as uncertainties. With the rising number of accidents, you must ensure complete protection against all odds of a vehicle accident.

An unforeseen accident can cause to lose your savings given that the cost of repairing or the replacement of parts or even the replacement of the car in case it the vehicle gets stolen could cost you much more than you think. Through third-party motor insurance has been made mandatory for all motor vehicles on road, you must go for beyond that by opting for the comprehensive car insurance since the third party cover won’t compensate against your own damages.

• Car Insurance Pays Damages: You can’t really plan your next move; neither can you assure that an accident ca n’t take you in its grip. Accident happens not only because of your own mistake but it could happen due to the mistake of others. However, opting for the comprehensive car insurance can keep you in the safe zone from all the worries regarding the financial aftermath of an accident.
• Add-ons: Comprehensive car insurance undoubtedly offers you broad coverage. However, you must know that not everything will be covered under your comprehensive motor insurance policy in India. For instance, the engine damage or depreciation will not be covered under the comprehensive car insurance policy. You can bring all these under coverage by opting for various add-on covers available with various insurance providers.
• Motor Insurance Reduces Your Liability: Car insurance covers your liability for third-party damages. This means if you happen to cause an accident where an injury is done to another person or their property, the car insurance companies will pay for their medication. Thereafter keeping you on the safe side from any legal prosecution also becomes the responsibility of the car insurance provider when you have motor insurance.
• Car Insurance Pays For You Hospitalization: Not every car owner is lucky enough to escape an accident with minor cuts. This is where having a car insurance plan pays its one of the most important roles. When you have vehicle insurance, you no longer have to spend money from your own pocket. Your car insurance provider will be accountable for your hospitalization expenses.

The best way to buy a motor insurance policy in India is buying it online. When you buy car insurance online, it will have its very own perks. Car insurance will cost less if you choose to buy online. The premiums you will have to pay will be lower. You don’t have to go through a lot of paperwork to buy the best car insurance policy. However, before buying or renewing your motor insurance policy with any particular insurance make sure you compare various policies online through an online insurance comparison portal such as GIBL.IN

Read More

How to Find the Best Car Insurance Plan in India?

A car has become a very important part of our life. We all work hard to save money to buy our dream car. The family time vacation to a place in your car is incomparable. With the purchase of a car, comes great responsibility such as its maintenance and protection against all odds. Since third-party car insurance have been made mandatory by law, most of the vehicle owners in India only go for this motor insurance plan because it is cheaper in price. This can turn into a wrong decision because the third party car insurance plan doesn’t cover any damage to your own car.

We all want the best car insurance policy for our car and that too at the lowest and affordable price. You must keep a number if things before you purchase or renew your car insurance policy from any particular providers of motor vehicle insurance. There are a number of motor insurance providers in India and they all are different. But if you want the best comprehensive car insurance at the lowest price in India, you have to follow the below mentioned points.

Compare Car Policies Online: In order to find the best car insurance policy with high coverage at the lowest price, it is very much necessary to compare various car insurance policies on offer from different insurers online. Compare policies on similar IDVs with other insurance companies. Compare car insurance policy on the basis of claims settlement ratio, the largest network of cashless garages, customer service assistance and coverage benefits.

Buy Car Insurance Online: When you consider the renewal of your car insurance, don’t forget to do online. Since all the motor insurance providers have made their presence online, you can easily renew your car insurance with the type of plan you want for your car without having to pay additional costs to an agent.

Consider the Reputation of A Company: Like previously said, there’s no shortage of providers of motor insurance companies in India and not all of these companies offer the type of coverage you are exactly looking for. So, it’s advisable to go for a motor insurance company that has a considerable reputation in the market in terms of providing the best coverage, 24/7 call center support, quick claims settlement etc.

Go for the Largest Cashless Garage Network: Only go for the car insurance company that has the largest network of a cashless garage on offer. This will be proven beneficial in case you meet an accident and require repairing.

Thinking upon the above-mentioned points before buying motor insurance can help you find the best policy for your vehicle at an affordable price. Do make sure that you buy comprehensive car insurance for total protection. You can instantly compare various car insurance policies online instantly wt GIBL.IN without having to face any hassle.

Read More

Conditions That Determine Your Car Insurance Premium

Since car insurance is mandatory in India, you can’t run from it. Not only cars are expensive to buy, but its repairing could result in spending a lot of your money, especially when you don’t have a car insurance plan. Hence, vehicle insurance is a must. You can choose the best car insurance from different car insurance companies in India. We all want to avail the best car insurance online benefits from a lower car insurance premium. Therefore we all have a lot of questions regarding the factors that determine car insurance premium. So if you are also haunted by the same question, here are some of the conditions that determine the premium of your car insurance plan.

• The Type of Car You Drive: The premiums of your car insurance pretty much depend on the type of your car you drive (i.e. the model of your car). Huge car insurance premium comes with an expensive car. That means you have to pay a comparatively higher premium for your motor insurance when you own an expensive SUV or luxury sedan.
• Your Driving Records: Your driving records determine the premium of your car insurance plan in India. That means if you are a rash driver with bad driving records, you will most likely pay a higher premium for your motor insurance. Similarly, drivers with a clean record will have to pay considerably lower car insurance premium.
• Your Location: Your location matters as far as the premium of your car insurance online plan is concerned. Hence, the registration zone of your car plays a great role in terms of determining the car insurance plan. Your vehicle insurance premium differs on the basis of the classification of different zones (i.e. Zone A & Zone B). You ’ll have to pay more on your car insurance premium if your area falls in a more vulnerable zone.
• The Purpose of Your Car: Your car insurance premium also depends on the purpose of your car. The motor insurance premium varies depending on whether you have a commercial or private vehicle. Since a commercial vehicle is likely to be used more often than a private vehicle, its car insurance online premium is considerably higher.
• Safety Features of Your Car: It is one of the most important factors that determine your car insurance premium. The safer your car is, the lesser car insurance premium you’ll enjoy. If your car is well-equipped with necessary safety features (e.g. airbags, anti-theft locks etc.), you will have to pay a considerably lower premium for your vehicle insurance plan.
• Mileage of Your Car: The mileage of your car is one the prime factors which determine the premium of your car insurance. The more miles you cover with your vehicle, the more you’ll have to pay for your car insurance premium.
• Your Age, Sex & Marital Status: Men who are under 25, unmarried, are considered to be more vulnerable to accidents and therefore, they’ll have to pay more on car insurance premium in India.

These are some of the conditions that determine car insurance online premium in India.

Read More

What Are the Benefits of Online Car Insurance Renewal?

Car insurance renewal is an essential requirement for each and every motor vehicle in India. There was a time when you had to rush from one motor insurance agent to another in order to get the best car insurance renewal. You couldn’t choose as per your preference and you had to go with the motor insurance plan your agent offered for renewal. You couldn’t bargain neither could you ask for a discount or extra coverage. You, unfortunately, had to settle down with whatever car insurance policy your agent would choose on behalf of you. This old method of car insurance renewal we all hated.

But now, those old days of car insurance renewal has gone. You can now renew your motor insurance policy online without being dependant on an agent. Technology has made car insurance renewal online easier than making ramen noodles. All the reputed car insurance companies now offer their plans online through their official website. There are a number of online insurance comparison portals such as GIBL.IN through which you can easily compare a number of top car insurance policies offered by different insurers easily. A number of special benefits you can avail when you go for online car insurance renewal such as:

• Easy comparison of a number of best car insurance plans online
• Get the best coverage for your car at the lowest price
• Get a special renewal discount when you go for car insurance online
• Easy transfer of No Claim Bonus from your previous insurer when you renew your car insurance online
• Get instant car insurance renewal quote online
• Get easy customer support from the insurer in case of any difficulty faced during the renewal of your motor insurance policy
• Saves you a lot of time as well as exorbitant premium in car insurance renewal
• Easy renewal of expired car policy online without any hassle

Apart from all these special benefits and advantages, you will be offered various additional benefits such as anytime support over a call, renewal assistance etc. and much more. It’s advisable to compare car insurance online before you go for renewal. Use GIBL.IN to compare instant car insurance policy online and get the lowest quotes. Along with the motor insurance plan you choose to purchase, you can go for a number of effective add-on covers for extended protection with your car insurance plan.

More Info visit - GIBL Blog

Download Mobile App - GIBL Instant Policy

Read More

What to Do When Car Insurance Policy Lapses?

Getting car insurance online policy is the very first thing that you must consider after buying a vehicle. It is advisable to avoid cheap car insurance policies. We compare car insurance quotes of different car insurance companies online to get the best policy in terms of coverage. Even after all these, your car insurance policy may lapse if you don’t act carefully. The lapse of your car insurance means that your vehicle is unprotected under the car insurance plan that you had bought. Below are the reasons to why your car insurance online policy may lapse.

• Non-payment of the Car Insurance Premium: You are responsible for paying the premium against your car insurance online policy. If any circumstance renders you to the non-payment of car insurance premium, your car insurance policy will lapse.
• Late Payment of Your Car Insurance Premium: You want to make sure that the due car insurance premium is paid on time. Otherwise, your car insurance may lapse in case of the late payment of your car insurance premium.
• Non-renewal of Your Car insurance Policy: If you think your job is over after buying car insurance online, you are certainly wrong. Your car insurance policy will lapse if you don’t consider the importance of car insurance renewal. You must make sure that your car insurance renewal is done on time to continue receiving the benefits offered by car insurance companies in India.

However, there’s nothing to panic if your car insurance policy lapses. There’s certainly something that you can do in case your car insurance lapses. Here are the two things that you can do when your car insurance policy expires

• Inform Your Existing Car Insurance Provider: For the car insurance renewal, you can inform your existing car insurance provider if you want to renew your policy from the same car insurance company. The car insurance provider will inspect your vehicle. After the inspection, the car insurance company will give you confirmation regarding the coverage of your vehicle.
• Renew Your Car Insurance from Different Provider: You can also consider the car insurance renewal from a different car insurance company in India as per your requirements. For this, you can compare car insurance quotes of different car insurance providers online and choose any for your car insurance renewal.

There can be many consequences if you do not renew your car insurance policy. Hence, you should not allow your car insurance policy to lapse. The renewal of your car insurance is equally important to buy a car insurance plan in India. The penalties of not renewing car insurance in India include imprisonment, or fine or both. You may also lose your no claim bonus on your car insurance policy if you let your car insurance lapse. Therefore, you must not let your car insurance policy lapse in the first place and follow these above-described process if car insurance lapses.

More Info visit - GIBL Blog

Download Mobile App - GIBL Instant Policy

Read More

Wondering Why Your Car Insurance Claim Got Rejected?

Nothing can be worse than the rejection of your car insurance claim especially when you are in need. It’s not uncommon for car insurance companies in India to deny your car insurance claim. You have to be careful about some specific aspects while filing a claim against your car insurance policy. Here are some of the most important reasons as to why your car insurance claim could be rejected.

• False Claims: The reason why you buy car insurance online or compare car insurance policies is certainly that of the financial protection in times of trouble. But, many are seen to make false claims regarding their car insurance policies to make profits or in order to gain extra coverage. Car insurance companies may reject your claim if they find out your provided information to be false. Moreover, you may be subject to legal action if the car insurance company finds you guilty of providing false information.
• Misleading Statements or Facts: This is one of the most common reasons why your car insurance claim could get rejected. It is your responsibility to keep your car insurance online provider up-to-date regarding the vehicle insured. Any misleading documents or statements may result in the denial of your car insurance claim. If the car insurance company is not correctly informed regarding the accident, car, or the rider, your car insurance claim could get rejected.
• Unlawful Acts: You must make sure that you have not committed any unlawful acts while filing your car insurance claim. If the rider is found guilty of driving under intoxication, riding without valid license etc. the car insurance policy claim can get rejected immediately.
• Faulty Vehicle: The car insurance company can reject your claim if your car is not in a good condition. It is necessary to make sure that your car is in perfect working condition while filing a claim to the car insurance company.
• Claim Coverage: There are many examples where the policyholders file a car insurance claim against something which is not covered under their car insurance policy. You should have a proper idea regarding the claim coverage that the car insurance online companies are liable to compensate before filing a claim.
• Unlicensed Driving: It is very general for the owner of a car to lend his car to a friend. In such cases, your claim could get rejected by the car insurance companies if the rider has no license.

These are some of the most important reasons why your car insurance claim could get rejected. Apart from all these points discussed above, there are some more circumstances under which your car insurance claim may be terminated. Such one is when you do not consider your car insurance renewal. Car insurance companies are not liable to cover any damages if your car insurance renewal is not done on time, therefore don’t be surprised if your claim is turned down.

more info visit - GIBL Blog

Download The App - GIBL Instant Policy

Read More

Everything You Need to Know About Commercial Auto Insurance Policy

What is Commercial Auto Insurance Policy?

Commercial vehicle insurance in India is basically protection against physical damage and liability coverage for situations, amounts, and usages that are not covered under a personal auto insurance policy. Since the difference between personal and commercial vehicle insurance policy is clear by now, you should know that commercial auto insurance policy is most important for your business. The commercial auto insurance policy covers a wide range of vehicles—from different automobiles that are used for business, including the cars used by companies, to a wide range of commercial trucks engaged in strenuous jobs. Food trucks, box trucks, service utility trucks, and work vans are just a number of examples of larger commercial vehicles. These vehicles also require ample coverage and such coverage include covers for employees who operate the vehicle as well as the equipment inside. This type of auto insurance policy may be referred to as commercial auto insurance, truck insurance, commercial car insurance or fleet insurance.

Why Do You Need Commercial Auto Insurance in India?

This is a very good question as to why would anyone require to have a commercial vehicle insurance policy in India. A number of specific business usage and vehicle types are generally excluded from personal auto insurance policies. The reason why they are excluded because personal vehicle insurance policies are basically not meant for carrying out any sort of businesses. Private or personal vehicles are written and rated differently in the country. Business owners, owning businesses that are conducted through any type of vehicle that is used for commercial purpose, are required to bring under commercial auto insurance. Since these vehicles are more vulnerable to various damages due to their continuous functioning in a restless manner, they require compact coverage which is fulfilled by a comprehensive auto insurance policy. Determining whether your vehicle requires commercial auto coverage or private vehicle insurance can be sorted out by figuring out for which purpose your vehicle is being used.

What Does Commercial Auto Insurance Cover?

Commercial vehicle insurance policy offers four major types of coverage for your commercial vehicles :

• Third party legal liability coverage pays for property damage or bodily injury to a third party caused by your vehicle. This policy also pays for accident-related legal expenses, such as settlement costs or attorney fees etc.
• Medical payment coverage under commercial auto insurance policy can cover medical bills if you or your passengers are injured in the event of a car crash, regardless of fault.
• The policy covers physical damage and collision. It pays for repairs if your commercial vehicle is damaged by something other than a car accident. For instance, vandalism, theft, collisions with an object and certain weather conditions are usually covered.
• Uninsured motorist coverage with commercial auto insurance can pay for damage to your vehicle or bodily injuries suffered in case someone with no insurance cover hits your vehicle.

for more info visit - www.gibl.in/blog

and Download Mobile app - GIBL App

Read More

What Can Be the Right Way of Choosing the Best Car Insurance Online Policy in India?

Right Way of Choosing the Best Car Insurance Online

As per the Motor Vehicle Act 1988 in India, if you own a car, it is necessary to have a third party car insurance plan. But apart from the legal compulsion, after purchasing a new car, you need to make some safeguard policy for your car. And a well-planned car insurance policy in India can assist you in this matter. A proper motor insurance policy or an online car insurance policy covers all the losses that you might suffer due to theft of your car or damage due to accidents or even natural mishaps. In such case, each month you need to pay a certain amount of money to the insurance company and you will get an assured sum when in need. Car insurance is basically an agreement between the car-owners and car insurance companies.

As there are lots of car insurance companies in India, you may think where to start from for purchasing the best auto insurance online policy? To deal with such situation, you must compare car insurance quotes available online with various car insurance companies. You should also compare car insurance renewal quotes and then choose the one that meets your criteria best. GIBL.IN, an online car insurance broking portal will provide the assistance when you are confused about choosing the best car insurance online policy. 29+ general insurers are associated with this online portal and you can pick the right one among them. 

Read More

What Does a Car Insurance Policy Cover?

Most of the people in India spend a lot of time researching while purchasing a new car since they want to ensure that their selection of the vehicle is flawless. But when it comes to car insurance, most of the car owners don’t spare a single thought. However, it is not advisable that availing any vehicle insurance plan without keeping the requirements. So, before purchasing a car insurance online policy, you should know about the best car insurance online plan and what are the coverage. Well, there are mainly two types of motor insurance coverage in India.

·         Third Party Coverage: This plan is mandatory as per the Motor Vehicle Act in India. You have to buy this plan, right after you buy a new or used car. This vehicle insurance plan provides coverage for all the liabilities to a third party when you are a faulty driver. If your vehicle is in charge of an accident that causes damage to third party vehicle or any physical injury to the third party, this plan plays a key role. But it does not provide coverage for owner-driver and personal accident coverage.

  Comprehensive Coverage: This policy is considered to be all-rounder coverage. If you own this plan, you can avail both liabilities to a third party and your insured vehicle. You need not pay for any damages or losses of your car as well as for the third party. This policy is popular among all in spite of the higher premiums as it provides a wide range of coverage. 

Read More

Some Quintessential Car Insurance Add-on Covers that You Should Consider

Even a comprehensive car insurance policy doesn’t cover all types of losses. Furthermore, your comprehensive car insurance will not pay you the full amount of your car if it gets stolen either. The limitation of comprehensive car insurance online policies doesn’t end here. All car insurance online plans with comprehensive coverage don’t offer roadside assistance too. Now that you are aware of the disappointing fact that your car insurance online plan, you should look to strengthen the coverage of your car insurance policy by availing some of the best car insurance add-on covers available in the market. The following are the best car insurance add-on cover that you can consider along with your regular comprehensive car insurance policy.

Zero Depreciation Cover

Over the years, the value of the insured car gets depreciated and a comprehensive car insurance policy doesn’t offer the full value of the car if you file an insurance claim. Moreover, consumable items of cars such as nuts, bolts, and engine oil are not covered entirely under the coverage of basic comprehensive car insurance plan. Being armed with a zero depreciation car insurance add-on cover you can get the full value of your car parts.

Electronic Circuit and Engine Cover

The most expensive components of a vehicle are its engine and electronic circuit. In case of damage of these two costly components of your car, you have to pay a hefty amount in order to have them repaired or replaced because a basic car insurance online plan doesn’t cover the loss of these parts. You, therefore, should consider availing electronic circuit and engine protection cover on your car insurance renewal. Many car owners in India suffer huge financial loss due to water ingression which consequently damages the electronic circuit and engine of the car. By availing engine protection car insurance add-on cover, you can steer clear of such massive financial setback.

Roadside Assistance Cover

In case your insured vehicle breaks down in the middle of a deserted highway, you are left with no rescue measures. This is simply because a basic car insurance policy doesn’t offer any assistance if your car remains stranded due to an engine or any other technical reasons. This is where a roadside assistance car insurance add-on cover comes into play. This type of car insurance add-on cover not only offers fuel benefits or flat tire replacement assistance but also provides accommodation and alternative transport facility to car insurance policyholders in India.

Return to Invoice Cover

Even if your car gets completely stolen or damaged beyond any scope of repair, your comprehensive car insurance plan will not provide you the full amount that you earlier paid to purchase your vehicle from the showroom. This is simply because your car gets older, its value depreciates. However, a return to invoice car insurance add-on cover takes the depreciation out of the equation and help car-owners get the full invoice value of their insured vehicles.

With these car insurance add-on covers, you might have to pay the higher premium, but you can rest assured that you don’t have to burn a hole in your pocket.

Read More

Commercial Auto Insurance: The Ultimate Protection for Your Transport Business

Just like private vehicles, commercial vehicles also play a considerable role in our daily life. Be it a truck engaged in transporting valuable goods or a taxi engaged in transferring customers from one place to another on a fare-paying basis, all commercial vehicles have their own importance. These vehicles are always engaged in high-end performance which includes multiple risks. The replacement of spare parts or repairing of such commercial vehicles require a lot of money and may cause you to burn a hole through your pocket. Therefore, it’s always advisable to secure your commercial vehicles with the best commercial auto insurance policy.

Commercial Auto Insurance Covers

Commercial auto insurance comes with comprehensive coverage against all possible damages that could occur. A comprehensive commercial auto insurance policy ensures total protection against all possible unforeseen loss or damages due to any accident.

• There are a number of commercial vehicle insurance companies in India to buy these policies. You can instantly buy commercial vehicle insurance policies online without any hassle. You can pay the premium online via credit card, debit card or net banking and secure any type of commercial vehicle you want to.
• Commercial vehicle insurance online covers own damage to the vehicle caused due to accident by external means, housebreaking, burglary, theft, riots, strike , terrorism, malicious act, flood, earthquake, storm, rockslide, landslide, explosion, fire, self-ignition, lighting and transit via rail, road, inland waterway, lift etc.
• Commercial Vehicle insurance policy offers comprehensive motor insurance policies for various classes of commercial vehicles such as Public Carrier, Goods Carrying Vehicles Private, Passenger Carrying Vehicles, Trailers, Mixed and Special Types of vehicles - Shovels, Mobile Rig, Tractor, Grabs, Excavator, etc.
• Commercial vehicle insurance online comes with personal accident cover which covers the costs incurred during the medical treatment of the driver. However, you can always decide to cover the occupants in exchange for paying an additional premium.
• Commercial vehicle insurance policy also covers the third party legal liability in case of Accidental death or injury to any third party as well as any damage to property owned by the third party.

Contemplating on the above-mentioned points, you must make sure that your commercial vehicle is safe and secured against all on-road and off-road odds with the best commercial vehicle insurance policy. Now you can instantly buy or renew your commercial auto insurance policy online without any hassle by paying the premium online.

Read More

Major Car Insurance Terms You Should Know

Most of the car-owners in India purchase a car insurance policy just because they have to. There are barely any car-owners around with a real interest in the nitty-gritty's of car insurance policies. But such types of lack of awareness about car insurance can prove to be fatal in the later stages, especially at the time of claim settlement. Many vehicle owners start checking their motor insurance policy terms and conditions only when they need to file a claim and they find many terms beyond their level of considerate. Thus, you should be aware of some of the most common car insurance terms. You can have a look below to know in details about major car insurance terms.

IDV or Insured Declared Value

Insured Declared value is the market value of your insured car. It is the maximum sum you can you can ensure for your car. If you declare the exact IDV of your car to the insured car, at the time of any insurance claim, you will get to total IDV amount in case of total loss of the vehicle or theft.

NCB or No Claim Bonus

NCB means the bonus amount that car insurance policyholders are entitled to get for not making any claim in an entire policy period. Starting from 20% in the very first year of insurance without claim, the amount of NCB keeps escalating for 5 years up to a limit of 50%. Most motor insurance policyholders make the most of the NCB by reducing their premium outgo.

OD or Own Damage Premium

Own Damage Premium or OD Premium of a car insurance plan is the premium that you have to pay to for covering damages to your own vehicle. OD Premium is applicable in case of a comprehensive car insurance policy and liability car insurance policy doesn’t cover losses incurred to the vehicle of the policyholders. However, the amount of Own Damage Premium depends on many factors such as seating capacity, cubic capacity, type of engine and also on the zone where the vehicle is registered.

Third Party Liability Coverage

In car insurance terms, liability coverage is designed to defend the policyholders from their legal liabilities to third parties on the road in case of a road accident. In India, a motor insurance policy with third-party coverage is a legal obligation. A car insurance plan with third party liability coverage only pays out financial compensation in case of death of the third party, accidental physical injuries and property damage.

Personal Accident Coverage

Personal accident coverage is also a part of car insurance plans. In this type of coverage, the owner-driver of the insured vehicle remains financially covered in case of physical disablement and death. The personal accident coverage pays out for financial compensation up to a limit in case if unfortunate death and permanent or temporary and total or partial disablement. This coverage can be extended to the paid driver and passengers of the insured vehicle for an additional premium on car insurance.  

Read More

Some of the Best Car Insurance Companies in India

The exclusive purpose of a car insurance company is to provide its customers the best car insurance plans that are unique in terms of feature and coverage and protect their vehicle from any unforeseen events such as accident, fire, disaster, impact with animal and so on. But not all car insurance companies in India hold the same record in terms of the services they offer and specifically claim settlement ratio. Find out some of the best car insurance companies in India.

HDFC ERGO General Insurance Company Limited

HDFC ERGO General Insurance Company Ltd. is formed with the combination of HDFC Ltd., ERGO International AG.  HDFC ERGO provides a vast policy ranging from Health, Motor, Home, Travel, and Personal Accident as well as modified products like Marine, Property, and Liability Insurance in the corporate sector. The company has 3,400+ authorized network garages in India where you can get cashless repairing facility. HDFC ERGO General Insurance Company Ltd. provides multiple benefits for buying car insurance from them such as online motor insurance policy buying option, easy and transparent claim settlement process etc. The auto insurance policies by HDFC ERGO provides coverage against own damage, any damage done to your vehicle resulting from external means, terrorism, fire, natural disaster, depreciation, personal accident cover, calamities, and third party liability.

ICICI Lombard GIC Limited

ICICI Lombard GIC Ltd was born as a result of joining hands between ICICI Bank Ltd. and Fairfax Holdings Limited. The company has over 3,500 network garages all over India. ICICI Lombard GIC Ltd. car insurance covers your vehicle against various damage or loss such as calamities – manmade and natural, personal accident, third party liability etc. The company offers all the emergency services with their motor insurance policies starting from flat tire repairs to emergency battery jump you name it.

United India Insurance Company Limited

United India Insurance Company Limited was incorporated on 18 February 1938 and thereafter it was nationalized in the year 1972. The company offers motor insurance policies for all vehicle ranging from a two-wheeler to commercial vehicles to private cars. Various car insurance plans are offered by United India Insurance Company Limited. The company holds a good reputation in terms of treating and valuing their customers rightly. United India Insurance offers discounts to their car insurance policy buyer and also offers No Claim Discount (NCB) the percentage of which ranges from 20% to 50%.

The Oriental Insurance Company Limited

In the year 1947, The Oriental Insurance Company Limited was formed into a legal corporation. The insurance company offers car insurance policies that cover third-party liabilities, accidental damages, all of which comes with different add-on covers. The Oriental Insurance Company Limited offers insurance coverage of 1 year period with additional coverages like zero depreciation cover, alternative car benefits, free emergency benefit services and loss of personal effects. You can get further knowledge about their car insurance policies through their website. You can also buy or renew auto insurance policy from their online portal as well.

Read More

Commercial Auto Insurance Coverage in India

Commercial Auto Insurance Coverage

Commercial vehicles are responsible for putting in a lot of strenuous work. Nonstop functioning of these vehicles on a regular basis put them into certain risks such as accidents and natural calamities. Since these vehicles are engaged in a continuous process of delivering goods or passengers from one corner of the country to another country, they require extra protection and care. On the other hand, the repairing or spare part replacement costs of these vehicles are higher than private vehicles.

Be it a lorry, bus, truck, or a fare-paying passenger vehicle or taxi, all sort of commercial vehicles plays a significant role in our day to day life. Risks to such vehicles result in extreme damage to your vehicle, which leads to several overpriced repairing costs. Paying for such unforeseen losses and damages may obstruct your financial planning and may leave you stuck in a complex situation. In order to steer clear out of such circumstances to safeguard your finances, it’s highly recommended to go for the best comprehensive commercial vehicle insurance policy.

• Commercial vehicle insurance online comes with personal accident cover which covers the costs incurred during the medical treatment of the driver. However, you can always decide to cover the occupants in exchange for paying an additional premium.
• Commercial Vehicle insurance policy offers comprehensive motor insurance policies for various classes of commercial vehicles such as Public Carrier, Goods Carrying Vehicles Private, Passenger Carrying Vehicles, Trailers, Mixed and Special Types of vehicles - Shovels, Mobile Rig, Tractor, Grabs, Excavator, etc.
• Commercial vehicle insurance online covers own damage to the vehicle caused due to accident by external means, housebreaking, burglary, theft, riots, strike , terrorism, malicious act, flood, earthquake, storm, rockslide, landslide, explosion, fire, self-ignition, lighting and transit via rail, road, inland waterway, lift etc.
• There are a number of commercial vehicle insurance companies in India to buy these policies. You can instantly buy commercial vehicle insurance policies online without any hassle. You can pay the premium online via credit card, debit card or net banking and secure any type of commercial vehicle you want to.
• Commercial vehicle insurance policy also covers the third party legal liability in case of Accidental death or injury to any third party as well as any damage to property owned by the third party.

You should think twice regarding the coverage you are aiming to purchase for your commercial vehicle. Vehicles that are mainly used for commercial purposes require special attention. Insufficient coverage could result in you say goodbye to your hard earned money. You can also go for some add-on covers along with your chosen commercial auto insurance to cover something that isn’t already covered under the plan.

Read More

Everything You Need to Know About Third Party Car Insurance

There are two types of car insurance policies in India namely third party car insurance and comprehensive car insurance. Third party liability only policy is mandatory as per the Motor Vehicles Act 1988. All vehicles owners must have third party insurance in order legally drive their car on road. Find out more about third-party car insurance below.

Advantages of Third Party Car Insurance

There are plenty of benefits of third-party car insurance plan. Third party motor insurance covers the damages to other vehicle and property involving your car. But your own damage will not be covered within the third party vehicle insurance. In case you don’t have third party auto insurance, you can get sued. Some benefits of third-party liability coverage may include,

·        Since third-party auto insurance plan settles the expenses and expenditures through financial payments when your car gets in an accident with another car, you get a total peace of mind while driving your vehicle.

·        One of the main advantages of the third party motor insurance is its cost. If your car is involved in an accident where you are at fault, you’ll be on the safe side.

• Third party car insurance covers an insured person against legal liabilities in case of damage, death or disabilities to any third party. The liability only insurance takes care of such situations.
• Third party Car Insurance online can be easily procured through various insurance portals. This way you can buy or renew auto insurance quite simply and easily in no time. Third party auto insurance is available 24x7 when applied online.

Disadvantages of Third Party Auto Insurance

Since third-party car insurance only covers the damages of a third party, you are not officially entitled to receive any benefits out of this kind of insurance for your vehicle. It’s always wise to opt for comprehensive auto insurance given that it covers both the third party and your own damage as well. Some of the disadvantages of third-party auto insurance include,

·         In case of an accident, the damages done to your own vehicle will not be covered.

·         In the event of theft or damage of your vehicle due to fire, your third-party policy will not provide any help.

Given that third party car insurance is mandatory, it’s very important to ensure you have this basic cover. However, for a total protection, it’s advisable to opt for a comprehensive car insurance policy.

Read More

What Does Commercial Vehicle Insurance Policy Cover?

Commercial Vehicle Insurance Policy Cover

If truth be told, commercial vehicles have undoubtedly more value and importance in our lives than private cars when it is judged from the diverse point of view. Commercial vehicles serve as the means of transportation as well as the mode of transportation for passengers on a fare-paying base. The commercial vehicles surely carry out an enormous amount of difficult job on a day to day basis.

Doesn’t matter if it’s a touring car in charge of transferring passenger from one place to another place all day or a truck responsible for carrying and delivering goods from one spot to another, all kinds of commercial vehicles in India hold a considerable status in terms of creating a transportation process that is smoother and faster.

Constant functioning and usage of these commercial vehicles on a regular basis forces them to face certain risks such as accidents and natural calamities. These risks certainly impact in severe damage to your vehicle, which leads to a number of costly repairing charges of the vehicle.

Paying for such hefty losses and damages may hinder your financial planning and may leave you trapped in an intricate situation. In order to steer clear out of such circumstances and to safeguard your finances, it’s highly suggested cover it with the best comprehensive commercial vehicle insurance policy.

Commercial auto insurance policy comes with broad protection that can be significant to many people including snow plow operators, truck drivers, tow truck drivers, business owners, couriers, and even pizza delivery guys.

When it comes to the coverage of commercial vehicle insurance policy, there are many. Many of the coverage of the commercial vehicle is similar to the personal vehicle insurance. The coverage under commercial auto insurance follows:

• Bodily injury and liability of the third party.
• Property damage.
• Comprehensive coverage.
• Collision coverage.
• Medical payments.
• Offers Personal injury protection (PIP).
• Covers uninsured/underinsured motorist.

As a commercial vehicle owner or driver, you may be required to bear some or all of these coverage options. Still, if you are not doing so, it's however prudent to consider having them all. A comprehensive commercial auto insurance policy can save you from a financial disaster, in spite of the fact whether you are an independent contractor person or the CEO of a multi-million dollar company.

Take advantage out of the best commercial vehicle insurance policy online and avail the highest protection and security when you choose to buy or renew it from GIBL.IN, India’s fastest growing insurance marketplace.

Read More

A Number of Things to Keep in Mind While Buying Health Insurance in India

Few Things to Keep in Mind While Buying Health Insurance in India

Given that there are a plethora of firms selling health insurance policies in India, choosing the right health insurance policy can turn out to be a hard job. Apart from a range of mediclaim policies to pick from, daunting jargons which otherwise are called as policy wordings stimulate the confusion.

Since buying health insurance is a confusing task, following a number of methods can lead you to buy the best health cover. Find out below some of the things that you should keep in mind while buying health insurance in India.

Family Health Insurance

When you purchase any health insurance policy, don’t forget to keep your family members and their respective age in mind. Consider their present ailments (if any) as well as the family’s medical history before buying the health insurance plan. Furthermore, find out among family members if they have any pre-existing diseases before buying a policy.

Waiting Period

Almost all the health insurance providers impose a waiting period for pre-existing diseases. This waiting period can range from two years to five years and differs from one insurance provider to another. You must keep that number in mind while buying a health insurance plan online in India. The best way to escape from this waiting period trap is to buy a health insurance plan in your youth since in such cases there is technically a less chance of you filing a claim and in this way, you can clear the waiting period with ease with time.

Claim Process

The easier the claims procedure and the quicker the settlement of the claims, the better it is for the health insurance policyholder. So, these two are key factors must be kept in mind in terms of choosing a health insurance policy. Good customer support from the insurer is an additional advantage that one should look for.

Choosing the right insurance amount

At the time of choosing a health insurance policy, one must go for the amount intelligently since it covers the medical expenses for a year. Consider your age; the younger you are, lower the Sum Insured amount you require. You should also take a look at your income levels to analyze the affordable premium. An additional essential aspect is the add-on covers since they impact premium amounts. You must make sure that you chose a Sum Insured that won’t fall short in the event of a health emergency.

Network hospitals

You should always check cashless network of hospitals available with the insurance company you are buying a policy from. In case of a medical emergency or hospitalization, network hospitals offer a cashless option. The insurance provider settles the medical bills directly with the hospital. You should always opt for the insurance providers that have a high number of network hospitals.

Read More