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- Recent years
- New Car
Buy Car Insurance for New Cars Online
You’re probably really happy and proud of yourself right now. After all, you’ve finally taken the leap and bought that car you’ve been talking so much about! We wouldn’t want to kill the happy bug, but with a new car comes a new set of responsibilities. Now, let’s imagine this scenario- Imagine, you’ve just planned a weekend getaway with your friends in your new car. With all that music and chatter, you suddenly hear a loud sound and you realise your tyre has just burst! Yikes. If you’ve been responsible, you probably won’t make a big deal out of it.
After all, if you have a car insurance in place, with the right add-ons then this little accident won’t only be solved soon, but will also not eat away your weekend budget. Why are we telling you this hypothetical story, anyway? To help you make some responsible choices of course! So, let’s get started- shall we?
Why is it Important to Insure your New Car?
Insurance is your new car’s shield against unexpected events. It helps cover your new car against thefts, financial losses caused by accidents and any subsequent liabilities you may come across unexpectedly. In India, driving a car, new or old without a valid car insurance is illegal. As per the Motor Vehicles Act 1988, it is mandatory to have a car insurance that at least covers for third-party liabilities.
There are essentially two types of car insurance plans- you can either opt for a Third Party car insurance or a Comprehensive Car Insurance. To make things easier for you, we’ve put down a table together that’ll help you compare the two, after which you can make the choice that suits you better.
Types of Car Insurance for New Cars
Difference between Comprehensive & Third party Policies
Comprehensive Car Insurance Policy
Third-Party Car Insurance Policy
A Comprehensive Car Insurance Policy covers third-party damages, along with coverage to your car in case of damages due to accidents, fire or natural calamities, theft and loss of car.
A Third-Party Car insurance policy covers for third-party damages to a person, vehicle or property. While there’s a limit to up to 7.5 lakhs for damages/losses to a third-party vehicle or property; there’s an unlimited liability in the case of a third-party person.
A recommended choice, as it not only protects you on a legal basis, but gives you and your own car extra protection as well.
This policy is usually bought by customers who rarely use their cars, or are using an extremely old car.
With this policy, you can opt for useful add-ons and covers which gives you complete coverage.
With this policy you can’t opt for any add-on covers.
This policy offers extensive coverage.
This policy offers limited coverage.
The premium of a comprehensive insurance policy is higher than that of third-party insurance.
Third-party insurance policy is less expensive as compared to a comprehensive car policy.
Things to consider when buying insurance for your New Car
There are several factors to keep in mind when buying car insurance for your new car. Paying attention to them will ensure that you fetch an ideal level of cover. Some of these factors include the following:
Is it a good idea to buy New Car Insurance from the Dealer?
The best of us prefer to escape all the time and energy that will go into looking for the right insurance company online or offline. No wonder, many people are tempted to opt for any car insurance offered by dealers. It saves time and of course, it is convenient. But is it the right thing to do? Let’s see what can go wrong if you plan to buy a policy from your dealer:
How to Buy New Car Insurance Policy Online?
Step 1 - Fill your Vehicle’s Make, Model, Variant, Registration Date (select new car) & the city you drive in. Press ‘Get Quote’and choose your choice of Plan
Step 2 - Choose between a Third-Party Liability Only or a Standard Package (Comprehensive Insurance).
Step 3 - Give us details about your No Claim Bonus earned
Step 4 - You will get quote for your premium. If you have chosen a Standard Plan you can customize it further by selecting add-on’s, setting the IDV and confirming if you have a CNG car. You will see the final premium on the next page.