What is car insurance?
Car insurance protects you and your four-wheeler against loss or damage due to theft, fire, accidents; It also provides financial insurance against third parties or their assets. A comprehensive car insurance policy helps you if your car is damaged due to an accident or natural calamity. Car insurance policies are divided into three sub-categories; Comprehensive car insurance policy, stand alone or own damage and third party car insurance.
According to the Motor Vehicles Act 1988, it is mandatory for all car owners to have at least a third party insurance policy, which provides coverage for third party liability. You can buy car insurance policy through Bajaj Finance Limited which offers a 100% digital process. Also, you can avail a no claim bonus of 50% on your premium on renewal. You can apply online for car insurance renewal on the insurer’s website.
Benefits of car insurance
Network Garages across India With many network garages across India, you can avail cashless services across India. This means that your insurance provider will settle all the bills for the garage.
Additional Savings with No-Claim Bonus For every claim-free year, insurance providers credit you with a No-Claim Bonus. It reduces the renewal amount of car insurance policy. Additionally, you can transfer the no-claims bonus to a new insurer if you change your four-wheeler insurance policy.
Comprehensive and third-party liabilities A comprehensive insurance policy covers own damage and third-party liabilities and gives the owner-driver personal accident cover. A third-party car insurance policy gives financial coverage only for third-party liability. For illustration, it’ll only cover the damages or losses caused to the third party, physically or to their property
Voluntary Deductible Reduces Your Premium Burden Voluntary Deductible is the amount you pay in advance for any repairs and replacement work on your car. 4 wheeler insurance providers deduct this amount along with other deductions during core settlement to determine the final settlement amount.
24X7 Roadside Assistance 24X7 Roadside Assistance helps you to handle any unexpected incident, which you can get the service with just one phone call. Also, the towing service will help you reach the nearest service center in case of breakdown.
Break-in insurance facility for easy renewal Break-in insurance is available when an insurance policy expires due to non-renewal. However, NCB remains intact if a policy is renewed within 90 days of expiry.
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