Car Insurance Quotes India | Best cheapest car Insurance Quotes in India

Car Insurance Quotes India

What is Insurance? Basically Insurance is a legal agreement between a policyholder and an insurance company wherein the latter promises to compensate the former in the event of a loss.

Best Car Insurance in India

Now a days there have a lots of Car Insurance companies in the market. Some of them are costly and some are best car insurance companies. Here we discuss about top 10 best car insurance companies. These top 10 cheapest car Insurance companies are

Sl. NoCompanyComprehensive Car Insurance Price
1TATA AIG General InsuranceRs. 13,616
2Digit General InsuranceRs. 15,226
3Royal Sundaram General InsuranceRs. 17,793
4Bharti AXA General InsuranceRs. 20,071
5Liberty General InsuranceRs. 20,378
6Bajaj Allianz Car InsuranceRs. 10,557
7Future Generali Car InsuranceRs. 11,525
8Edelweiss Car InsuranceRs. 9,162
9HDFC Ergo Car InsuranceRs. 10,918
10IFFCO Tokio Car InsuranceRs. 11,758

Some of Car Insurance Quotes in India

Why is a Car Insurance mandatory in India?

There is more than one reason why a car insurance has been made mandatory in India.

Large Number of Road Accidents: Road accidents are extremely common in India and one of the main reasons the Motor Vehicle Act has made car insurances mandatory is due to the same. In 2017, there were more than 1200 injuries reported on a daily basis due to road accidents! A car insurance would ensure no one has to bear the financial brunt in such a situation.

Protects the Third-Party: Whether you bump into someone’s vehicle or a car hits your dear car, having at least a third-party car insurance in place will ensure that the affected third-party will be compensated for in cases of car damages or, personal damages.

Makes Legal Processes Easier: When an accident happens, more than the damages – it is the legal process that takes one’s time and energy. However, when you have a valid car insurance, legal processes too are taken care of.

What is IDV in Car Insurance?

IDV is the maximum amount your insurance provider can give you, in case your car is stolen or totally damaged. The Insured Declared Value and your car insurance premium go hand in hand. This means, the higher your IDV is, the higher your car insurance premium – and as your vehicle ages and IDV depreciates, your premium also decreases.

Also, when you decide to sell your car, a higher IDV means you’ll get a higher price for it. Price may also be affected by other factors like usage, past car insurance claims experience etc. So, when you’re choosing the right car insurance policy for your car, remember to make note of the IDV being offered, and not just the premium.

What is No Claim Bonus (NCB) in Car Insurance?

NCB is a discount on premium given to the policyholder for having a claim free policy term. A no claims bonus ranges from a discount of 20-50% and is something you earn at the end of your policy period by maintaining a record of making no car accident claims under your car insurance policy.

This means that you can’t get a no claims bonus when you buy your first comprehensive car insurance policy – you can only get it on your policy renewal. Your no claims bonus increases after every claim-free year on your policy renewal.

Zero Depreciation Cover in Car Insurance

A Bumper-bumper or Zero dep cover or Parts Depreciation Cover, makes sense for cars less than 5 years old. Like everything in life, there is a decrease in value of certain parts of your car, including the bumper or any other metal or fibre glass parts.

So, when a damage happens, the full cost of replacement is not given as depreciation is deducted from the claim money. But this add-on makes sure there is Zero Depreciation and you get the full value of the cost of repair/replacement provided.

What is Cashless Claims in Car Insurance?

If you opt to get your car repaired with a Digit Authorized Repair Center, we will make the payment for the approved claim amount, directly to the Repair Center. This is a Cashless Claim. Please note, if there are any deductibles, like a Compulsory Excess/ Deductible, any repair charges for which your insurance doesn’t cover you or any depreciation costs, that is to be paid by the insured’s own pocket.