If you buy a new car, doing an insurance policy is the best way to ensure its safety. We provide car insurance at the best prices. Just contact us, and our team will reach you within minutes. Don’t worry if you don’t have any idea about car insurance, and our policy educators are always present to help customers with the ABCs of car insurance. They will ensure you learn about the benefits of car insurance. Doing car insurance will involve many paperwork and technical terms that cannot be understood by a normal person having no idea about insurance. We have the best service in Ludhiana, and our service is one of the best in Punjab. There are many attractive offers which will be favourable for your type of car. There are insurances for many types of cars that can be availed through us. The car insurances need to renewed after a specific period which should be done with the assistance and proper care. The insurance is not made for a lifetime and needs to be taken care of. There are several types of cars, and for each of them, we offer an exclusive price which comes with various offers.
STEPS TO GET BEST CASHLESS CAR INSURANCE
- CLICK ON WHATSAPP
- SUBMIT THE INSURANCE DOCUMENTS
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POPULAR CAR INSURANCE COMPANIES
WHAT IS CAR INSURANCE?
CAR INUSRANCE IS A CONTRACT BETWEEN INSURED AND INSURER IN WHICH INSURANCE COMAPANY PROMISES TO PROTECT THE CAR OWNER FROM FINANCIAL LOSSES RELATING TO HIS/HER CAR ARISING DUE TO ANY RISKS AND DAMAGES LIKE ROAD ACCIDENT,THEFT,FIRE,calamities, man-made calamities, vandalism, etc.IN RETURN FOR THIS PROMISE,THE CAR OWNER PAYS AN AMOUNT KNOWN AS FOUR WHEELER INSURANCE PREMIUM TO THE INSURANCE COMPANY.THE PROTECTION PROMISES BY THE INSURANCE COMPANY IS DEPENDS ON THE COVERAGE OPTED BY THE CAR INSURANCE OWNER.
What are the different types of car insurance policy in India?
IN INDIA,THERE ARE THREE TYPES OF CAR INSURANCE NAMELY AS THIRD PARTY CAR INSURANCE POLICY,Comprehensive Car Insurance Policy, and Standalone Own-Damage Car Insurance Policy.IN THIRD PARTY CAR INSURANCE, THE INSURER Coverage for third party liabilities only. a comprehensive car insurance policy provides coverage for own damages in addition to third party liabilities. A standalone own-damage cover provides coverage only for own-damages incurred by the insured’s car.
HOW MUCH OF MY CAR INSURANCE PREMIUM?
THE PREMIUM FOR THE THIRD PARTY CAR INSURANCE DEPENDS ON THE CUBIC CAPACITY OF THE CAR AND IS FIXED BY THE IRDAI.HOWEVER THE PREMIUM OF THE STANDALONE OWN DAMAGE AND THE COMPREHENSIVE CAR INSURANCE POLICIES VARIES FROM CAR TO CAR DEPENDING ON THE VARIOUS FACTORS LIKE MAKE,MODEL AND VARIANT,RTO LOCATION,CUBIC CAPACITY, FUEL TYPE ETC. THIS ALSO DEPENDS ON THE REQUIREMENTS OF CAR OWNER AND ADD-ON COVERS LIKE ENGINE PROTECTION COVER,RETURN TO INVOICE COVER,NCB PROTECTION COVER,KEY PROTECTION COVER ETC.
CAN I AVAIL DEPRECIATION-COVER AFTER 5 YEARS IN MY CAR INSURANCE POLICY?
YES SOME INSURANCE COMPANIES OFFERS DEPRECIATION COVER(S) AND ADD-ON COVER(S) UPTO 10 YEARS ON CAR INSURANCE POLICY.SOMETIMES IT DEPENDS ON THE PREVIOUS CAR INSURANCE POLICY.ONE OR TWO BEST INSURANCE COMPANIES LIKE IFFCO TOKIO GENERAL INSURANCE COMPANY AND REHAJA QBE GENERAL INSURANCE COMPANY LIMITED OFFERS DEP CAP COVER(S) BEYOND 5 YEARS.
HOW MANY TIMES I CAN GET CLAIM ON MY CAR INSURANCE POLICY?
EVERY INSURANCE COMPANY PROMISES TO GIVE TWICE FULL CLAIM ON YOUR CAR INSURANCE POLICY BUT SOME GENERAL MOTOR INSURANCE COMPANIES OFFERS UNLIMITED CLAIMS.AFTER GETTING THIRD TIME CLAIM ON YOUR CAR INSURANCE THE INSURER SETTELTED 50% CLAIM ON YOUR DAMAGE PARTS.ALTHOUGH THE BENEFITS OF NCB(NO CLAIM BONUS) WILL BE CHANGE TO 0% ON THE NEXT RENEWAL ON YOUR VEHICLE INSURANCE.
WHAT IF MY CAR INSURANCE GETS EXPIRED?
EVERY CAR INSURANCE COMES WITH A VALIDITY PERIOD,POST WHICH YOU NEED TO RENEW IT TO CONTINUE TO ENJOY ITS BENEFITS.HOWEVER,EVEN IF YOU MISS TO GET YOUR CAR INSURANCE PLAN RENEWED BY THE EXPIRY DATE,YOU CAN STILL GET IT RENEWED TILL THE NEXT 90 DAYS FROM THE DATE OF EXPIRY.AFTER THE EXPIRY OF THIS 90-DAY PERIOD,A CAR INSURANE CANNOT BE RENEWED.IN THAT CASE,YOU NEED TO BUY THE NEW FRESH CAR INUSURANCE POLICY BY DO PRE-INSPECTION OF YOUR CAR.
WHAT IS NCB?
NCB STANDS FOR NO CLAIM BONUS WHICH STARTS FROM 0% AND LIMITED TO 50% ON MOTOR INSURANCE POLICY.AT FIRST YEAR THE NCB IS ALWAYS 0%, 2ND YEAR IT GET INCREASES TO 10% IF INSURED HAVE NO CLAIM LAST YEAR ON HIS/HER CAR INSURANCE POLICY.IN SUCH A WAY THE INSURER INCREASES THAT PERCENTAGE OF NCB TO LAST 50% IN THE 5 YEARS.NCB ALSO TELLS THE DRIVING SKILLS OF THE CAR OWNER.
IS CAR INSURANCE POLICY IS MANDATORY IN INDIA?
As per the Indian Motor Tariff, every car owner in the country is compulsorily required to own at least a third party car insurance cover. Absence of a valid third party car insurance plan is a punishable offence which attracts a fine of Rs. 2,000 and/or imprisonment of up to 3 months for the first offence.
HOW INSURANCE COMPANIES CALCULATES THE PREMIUM?
THE PREMIUM OF THE THIRD PARTY CAR INSURANCE IS DETERMINED BY THE IRADI,WHEREAS THE PREMIUM FOR COMPREHNSIVE PLANS AND STANDALONE OWN DAMAGE VARY FROM INSURANCE COMPANY TO COMPANY.SOME FACTORS WHICH EFFECTS THE OWN DAMAGE PREMIUM FOUR WHEELER INSURANCE COVERS. a) IDV (INSURED DECLARED VALUE): THE MARKET VALUE OF THE FOUR WHEELER VEHCILE. HIGHER THE VALUE THEN MORE IS THE PREMIUM.LOWER THE VALUE LESSER IS THE PREMIUM.THE IDV WILL COUNT AT THE TIME OF TOTAL LOSS CLAIM, THEFT,FIRE ETC. B)CUBIC CAPACITY GREATER THE CAR'S CUBIC CAPACITY,HIGHER IS THE PREMIUM AND VICE A VERSA C)AGE OF THE CAR WITH TIME THE VALUE OF THE FOUR WHEELER REDUCES DUE TO DEPRECIATION.THIS WILL REDUCES THE VALUE OF CAR IN THE MARKET DUE TO WHICH ITS INSURANCE PREMIUM ALSO REDUCES.THUS GREATER THE AGE.LOWER THE PREMIUM. D)MAKE MODEL AND VARIANT: For different make, model and variants of the car, the different premium is applicable. E)RTO LOCATION Another important factor is the RTO location of the car. It gives the insurance company an idea about the density of traffic in the area/city where the car will be driven and thus the probability of road accidents and other mishaps. F)HOW TO PAY PREMIUM FOR CAR INSURANCE POLICY? You can pay using a credit card, debit card, cash or net banking on AskMyPolicy G)HOW TO CLAIM ON CAR INSURANCE POLICY? FIRSTLY CALL ON TOLL FREE NUMBER GIVEN BY INSURER.ELSE YOU CAN CALL ON THE CONTACT NO OF ASKMYPOLICY,OUR EXECUTIVE WILL GUIDE THE CLAIM PROCESS.