A car facilitates our livelihood in many ways. Besides serving as a status symbol, it helps us get to places faster. It even reduces our dependency on public transport, giving us the freedom to travel as and when needed. But its ownership comes with a set of responsibilities. Taking constant care of its maintenance and safety becomes a priority.
Hence, it is essential to buy a Car Insurance Policy. Also called Auto Insurance, it is an arrangement between the insurer and you. It offers protection against financial losses in the case of road collisions, unanticipated damages, or even theft. It even covers your medical expenses incurred due to such events. Let us understand this Insurance better through FAQs.
Q.1) What are coverages offered by Car Insurance?
Like Two Wheeler Insurance, this also offers different coverages. The objective is to provide the insurer with an all-encompassing experience. Here are some of them you should know of:
Add-on covers: This includes a customised combination of coverages. The offerings, however, depend entirely on your provider. Thus, check with your provider to avail of them.
Liability Only Policy: This coverage takes care of any physical damage caused to your vehicle by a third-party. It is also mandatory for every Car Insurance holder in India to have this coverage.
Stand-Alone Own Damage Policy: This online Car Insurance covers any damage caused to your vehicle by forces beyond your control. For example, a lamppost falls on your parked car and damages it.
Q.2) How to buy Car Insurance?
Nowadays, it has become relatively easy to buy Car Insurance. Many companies offer a seamless application process online. You need to follow these steps:
Step 1: Select the policy type. In India, you have two policies:
- Third-Party Car Insurance
- Comprehensive Car Policy
Step 2: Choose add-ons (in case you select Comprehensive Policy)
Step 3: Check and submit the documents specified on the Insurance provider’s website
Step 4: Fill out the application form by providing basic information
Step 5: Make an online payment. You can use your Debit or Credit Card for this step
Step 6: Receive a digital copy of the Insurance via mail
Q.3) What are the steps involved in the renewal?
Car Insurance renewal on time is imperative. Besides ensuring continued protection, it saves you from penalty charges and legal troubles. The following steps give you an idea of how to go about the process:
Step 1: Get a premium quote
Step 2: Select the Insurance type (you can switch or continue with your old policy)
Step 3: Submit the required information by filling out the application form
Step 4: Choose add-ons in the case of Comprehensive Car Insurance
Step 5: Make the necessary renewal payment through your Debit or Credit Card
Step 6: Get the digital copy of your renewed policy from the provider
To exercise responsible behaviour on the road, you must consider your and others’ safety. Car Insurance helps you do that effectively. Thus, you must make it a priority to purchase it.