Baskadia

With the ease of access to the internet, and the digitalisation of virtually ‘everything’, buying and renewing your motor insurance policy in time has become equally easy pretty. Time-consuming and complicated paperwork associated with buying insurance coverage is now a thing of the past.

If you wish to know more about buying a reliable motor insurance policy online, read on!

Steps to apply for motor insurance online

Listed below are the steps involved in buying a motor insurance policy online:

Choose a policy type: There are primarily two kinds of auto insurance policies are available in India:

Third-party auto insurance: Third-party insurance is required by the Indian Motor Vehicle Act. Only third-party losses and damages are covered by this kind of insurance.

Comprehensive auto insurance: Comprehensive insurance includes both third-party and your own damage coverage.

Pick your add-ons: You will then have to select any add-ons you may desire if you chose a comprehensive policy. Although you'll find quite a few add-ons, keep in mind that each add-on increases your price. Depending on your vehicle usage and other relevant factors choose add-ons that you need. Here is a list of add-ons you might want to think about:

Zero-Dep Cover

Roadside Assistance Cover

Key Protection Cover

Consumables Cover

Personal Loss Cover

Engine Protection Cover, and so on.

Comparing various motor insurance policies online: The following stage is to assess the various available plans based on your needs. You should contrast the plans based on their benefits, premiums, and network of cashless garages, among other things.

Figure out your car’s IDV: Verify that the insured declared value (IDV) of the automobile is in line with its market value. Your car's IDV will vary depending on its age. A vehicle that is six months old is subject to an IDV devaluation rate of 5%, whereas one that is six years old has a rate of at least 50%. IDV is a crucial factor in determining the cost of the Own Damage insurance. In instances of theft or irreparable damage to the insured's vehicle, the deductible is given to the buyer as compensation.

Provide Basic Details: When you buy motor insurance policy online, you are no longer needed to submit any documents. You are only obligated to provide essential information. However, ensure that you have access to papers such as your driver's license, RC book, as well as the vehicle's original invoice.

This is due to the fact that you will be required to provide information such as the purchase and manufacture date, make and model of your vehicle, chassis number, RTO, and so on when buying insurance.

Make Online Payment: You can proceed to pay the motor insurance policy premium online after providing the necessary information. The majority of insurers take payments through online banking and debit/credit cards. Renewal procedures for four-wheeler insurance are also comparable. A further stage would be to provide information about your current or expired policy.

Everyone can buy motor insurance policy quickly and easily online. A person can easily purchase a motor insurance policy without any hassle if they have the bare minimum of computer and internet knowledge and experience. Similarly, you can easily and quickly renew your car insurance through the internet. So, get your vehicles insured today!