You Need to Know Everything about Car Insurance Policy

If you own a car, you ought to have a car insurance policy to drive on Indian roads legally. Apart from legal compulsion, it is necessary to have a car insurance policy. An efficient motor insurance policy offers financial protection during an emergency. It offers coverage in the event of third party death and property damage of the third party. So you should not avoid the necessity of car insurance policy.

Key Features of Car Insurance Policy

• The best car insurance plans in India are customized on the basis of the profile of the owner
• If you buy a car insurance policy online between 25 and 55 years, some of the insurers offer discounts and you can avail discounts.
• If you buy and renew car insurance policy without any break you are eligible for an additional discount.
• With the advent of the internet, now you can buy and renew car insurance policy online.

Coverage of Car Insurance Policy

• Car insurance policy offers coverage against Third Party Liability as mandated by the Motor Vehicles Act in India
• It covers property loss, injury, and death of third-party.
• Motor insurance policy also covers damages to the vehicle of the policyholders from a range of natural calamities and man-made disasters in India
• It covers natural calamities like Lightning, flood, frost, earthquake, typhoon, storm, cyclone, hailstorm, landslide, and rockslide.
• The plan covers man-made disasters like Burglary, riot, theft, strike, terrorist activity, and malicious act.
• Four wheeler insurance online plans cover any damage in transit in India.
• It also covers individual owners from a personal accident by providing coverage
• You can also buy personal accident coverage with higher limits.

Additional Features of Car Insurance

• Car insurance plans online in India offer NCB or No Claim Bonus for not making any claim during a particular policy year.
• With each claim-free year, amount of NCB keeps increasing up to a maximum of 50%.
• To avail NCB, car insurance policy renewal needs to done within 90 days after expiry.
• The best car insurance provider allows transfer of accumulated NCB to a different provider.

Exclusions of Car Insurance Policy

• It doesn’t cover losses caused to the insured vehicle if the losses are caused by reasons excluded by the policy.
• Car insurance policy doesn’t cover damages due to wear and tear.
• It doesn’t cover damages due to general aging of the vehicle.
• Depreciation and other consequential losses are excluded from the policy.
• It doesn’t cover damages due to electrical or mechanical breakdown.
• Car insurance online plans don’t cover a war, nuclear risk, mutiny.
• If the vehicle is driven without a valid license in India, then in the event of any damages, car insurance policy doesn’t provide coverage.
• Four wheeler insurance policy online doesn’t cover damages if the vehicle is driven under the influence of liquor or drugs.

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