Car Insurance

In the recent decades, India has been witnessing the rise of numerous cars from various manufacturers. You will get to see umpteen cars of various Indian automobile companies, like: Maruti Suzuki, Tata Motors, Hindustan Motors, Mahindra etc. running all over the country. Various global automobile companies have also sold there cars in India. A number of global auto firms like:Mercedes, Hyundai Motors, Fiat, Ford etc. have set up their manufacturing and assembly units in the country. Car insurance or auto insurance in India is mandatory, that means as per the law you have to insure your car to drive it on the Indian roads.  You can get your car insured by availing the various policies offered by the numerous automobile insurance companies in India, like: ICICI Lombard, Bajaj Allianz, The New India Assurance, HSBC India, United India Insurance and many more.

Whether you own a small car, SUV or MUV, you will be able to get car insurance schemes from these companies.

In India there are primarily two types of automobile insurances, Motor Policy A and Motor Policy B. In most of the cases people go for the Motor Policy B, which is also referred as comprehensive insurance policy. A comprehensive insurance policy covers financial loss occurred due to accident, theft or fire. It also cover the losses incurred due to strikes, floods, earthquake and riots. Some of the policies offered by the various car insurance companies also provide you coverage for the car accessories, like: music system, car air-conditioner etc. But in such cases you may have to pay an additional premium.  It should be noted that the car insurance policy remains valid for one year and you must renew it before it gets void. As soon as your insurer gets the first premium, the insurance policy becomes effective. The insurance premium is decided by the insurer on the basis of the total value of the car, its accessories, the seating capacity and the power delivered by the car engine. Discounts in the premium are offered under the comprehensive insurance policy. You will get discounts of 20%, 35%, 50%, 65%, respectively for the 1st year , 2nd year , 3rd year, 4th year and afterwards. It must be kept on account that the discount value also depends upon the insurance claims made in that specific year. Some auto companies provide free auto insurance for a limited period of time, usually for one year. Some car companies facilitate cheap car insurance as per their promotional policies.  To make an accident claim you have to submit a number of documents to the insurance company like insurance policy proof, driving license of the person who was driving the car at the time of accident, original car registration book and its photocopy, claim form with estimate of repair charges received from the service center. In case of third party injury or damage, police FIR replica is also required.