Car insurance plans are mandatory in India as per the Motor Vehicles Act 1988. If you want to buy a car, you have to opt for at least a third party liability car insurance policy online. Liability car insurance plans are obligatory in India; however comprehensive or package car insurance online policies are optional. Let’s understand the difference between these two types of online car insurance plans.
A liability-only car insurance online plan covers liabilities of the policyholders towards third parties on the road. In case the insured car causes death, physical injury or property damage, his/her financial liabilities would be covered by a liability only plan. According to IRDA regulation, online car insurance plans provide up to a maximum of Rs. 7.5 Lacs as monetary compensation in case of third party property damage. A premium of this type of motorcycle insurance is less than the premium of a comprehensive car insurance policy. Liability-Only car insurance online also provides personal accident coverage to the policyholders. The amount of coverage depends on the car insurance provider.
Comprehensive car insurance plans, on the other hand, not only take care of liabilities of the insured to third parties and provide personal accident coverage but also look after the damages to the insured vehicle as well. A wide range of man-made and natural disasters are covered under a comprehensive car insurance plan such as flood, earthquake, riot, strike. Even though, comprehensive car insurance online plans are costlier than liability only motorcycle insurance policy; if you compare car insurance in terms of coverage, a comprehensive online car insurance plan would surely be your preferred option.
With the advent of online insurance for car, buying online car insurance is now very simple. You can now easily buy online car insurance from any portal of motorcycle insurance providers. Similarly, car insurance renewal has become a lot easier too. For online car insurance renewal, you just have to visit the portal of your preferred car insurance online provider and put in some necessary details such as your current vehicle insurance policy number and make an online payment. Once your new car insurance policy will be issued online, your online car insurance renewal process will be completed.
Now that you can avail online insurance for car, it is wiser to compare car insurance online to find out the best motorcycle insurance for your car insurance. You can compare car insurance online in terms of premium, coverage, and exclusion so that you can grab the car insurance online that meets your needs perfectly well within your budget.
Online car insurance plans come with many benefits. You can buy car insurance online policy instantly from anywhere and anytime. Online car insurance renewal is also very simple. You can also compare car insurance online conveniently. To compare car insurance quotes, you can use the portal of GIBL.IN, an online insurance marketplace as 32+ leading car insurers are associated with this portal. All these benefits make car insurance online plans a lucrative proposition for all car vehicle owners in India.
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