How To Buy Or Renew Car Insurance Online? – Forbes

As a car owner in India, it is mandatory to have at least a third-party car insurance cover to drive on public roads as per the Motor Vehicle Act. Additionally, the own damage car insurance cover offers a financial cushion against theft and accidental losses that may arise while driving or while parked. A majority of car insurance policies are bought for a year. 
Basically, a car insurance policy is a legal contract between the insurance provider and the car owner. Through this agreement, the insurer promises to bear the financial losses that an individual may incur in case of an accident or other damages to his/her car by the covered Perils as mentioned in the policy wordings. 
The insurance company also covers the damages that might occur if the individual accidentally hurts/damages a third-party Individual or Property and thus becomes responsible for paying for their injuries or damages. 
Broadly speaking, car insurance policies in India can be divided into three main categories:
The policy also provides personal accidental insurance for owners or drivers that takes care of any expenses arising due to accidental injuries or disabilities while driving the insured vehicle. A comprehensive car insurance cover is always recommended. 
Traditionally, car insurance was offered offline. However, it has become easier than ever to purchase a car insurance policy online that provides different coverage(s) at reasonable premiums with technological advancements along with different Add-ons. Another advantage of buying a car insurance cover online is choosing from a broad range of options and selecting a plan that best suits your needs. 
So, when you purchase a new car, it is always advisable to check for coverage online instead of just blindly following the deal available at the dealership. In such cases, you may get to choose and customize insurance coverage as per your needs.  
On the other hand, if you have a car insurance policy, which is up for renewal, it makes sense to search the internet and explore multiple renewal options that are available on the market. There are several key pointers that can help you evaluate the renewal premium with different coverages available. Some of the critical points are discussed below:
Here are the steps that you can follow to purchase a car insurance policy for your 
Step 1: Visit the website of the insurance provider that best suits your needs. 
Step 2: Fill in your personal details, such as mobile number, email address etc., along with the details of your car, including engine number, chassis number, and registration number. 
Step 3: Select the insurance coverage plan and add-ons (if any) of your choice
Step 4: Pay the premium amount through online mode and complete the process. 
After completing the process, you will receive a confirmation mail from your insurance provider along with a digital copy of your insurance policy. 
Here are the steps you can follow to renew your motor insurance cover:
Step 1: Log in to the website of your insurance provider
Step 2: Select the option of vehicle insurance renewal
Step 3: Key in the policy details – you may choose to include or exclude add-ons as per your needs.
Step 4: Pay the premium through online mode and complete the renewal process. 
Once you complete the process, your insurance provider will send you a digital copy of the policy and the payment receipt.
There are several benefits of buying an insurance policy or renewing the existing one online. Let’s have a quick look over the some of the prominent benefits of purchasing the car insurance online:
Roopam Asthana is the CEO and whole-time director at Liberty General Insurance. Over his career spanning over 25 years, he has worked with SBI Cards and Payment Services and GE Capital Business Process Management Services.
Aashika is the India Editor for Forbes Advisor. Her 14-year business and finance journalism stint has led her to report, write, edit and lead teams covering public investing, private investing and personal investing both in India and overseas. She has previously worked at CNBC-TV18, Thomson Reuters, The Economic Times and Entrepreneur.

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