Now that you own a car how can you protect it? Owning a car is one of the most lavish dream people have in life. Everyone wants to enjoy the happy moments of life with those wonderful joy rides with family and friends cutting down from the hassle of trains or buses and hectic lifestyle. However, just like you wish to own a car you should also find ways to protect your dream from getting damaged or causing damage if at all met with a major accident or unfortunate incidence. The best way to offer financial shelter would be covering your car with suitable insurance policy. Insuring your car against damages due to traffic accidents and liabilities arising thereon are known as car insurance policy. These insurances provides an individual with accidental cover while driving and also for its passengers, against any loss or damage done to your vehicle against natural calamities such as Fire, Explosion, Self-ignition, Lightning, Earthquake, Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone, Hailstorm, Frost, Landslide, Rockslide etc.
The main part of car insurance India would be third party liability which is injury or at toughest times death of the third party person, damage to the property of the third party and to the paid driver. This is the minimal level of cover that an individual should possess if they have to get their car on road in India accordingly to Indian Traffic Law.
Ideally people think when we insure car everything is covered under the policy including physical damages or situational damages. Let’s understand what a car insurance India might not cover under the policy: Normal wear and tear of vehicle, Mechanical and electrical breakdown, Damages caused to/by a driver without valid driving license, Loss or damage due to drunken driving, depreciation, war or nuclear risks, Consequential losses and Vehicles used for purposes other than specified are some of the things not covered under car policy. Buying car insurance for all new cars is a mandate used for personal or business purposes. Various car insurance India companies have tie-ups with the car dealers and offer free and beneficial quotes along with the purchase value of the car. Online purchase would be the best way to insure your motor as many insurance companies offer special discounts for the physically challenged car owners and vintage cars. To decide the insurance coverage the concept used is Insurer’s Declared Value (IDV). IDV is a sum of the manufacturer’s listed price after deducting the depreciation as provided in the Indian Motor Tariff Schedule and the price of additional accessories installed by the policyholder. Some factors that determine the Value of the policy: •Age of the car Whenever a car gets old by a year the insurance value gets reduced in terms of depreciation form. Hence enough provision should be made if the car has to be replaced in case of damage to the older car as the insurance claims will be insufficient to meet the requirements. •Purpose of Car Use A car for self-use will obviously command a lower premium compared to one used for business purposes.
•Accidents If your car and you or your driver is involved in form of accidents in the past, the premium is supposed to be higher. It is advisable always try and maintain a clean record to get good insurance rates and concessions. When it comes to claim arisen due to accidents, third party claims or thefts following documents would be required: Duly signed Claim form, RC copy of the car, Copy of the driver’s license, FIR copy, Copy of estimate, Copy of the insurance policy.  Car Insurance providers: Many insurance companies are offering car insurance India at competitive rates to retain valued customers. Those who have online purchase facilities provide lucrative offers, deals & discounts, benefits and features, easy payment procedures and hassle free claims. Car insurance India segment is on an upsurge with more and more awareness amongst the people about the car, individual and financial safety during crisis time. The sector is continuously evolving and a lot of features are being introduced which will influence the premiums charged every year to make it more affordable and manageable to consumers to get maximum benefits at optimum costs.