If you are planning to buy a new car or even a second hand one, make sure you get yourself car insurance. The city with the highest number of fatal accidents across the nation, Delhi, is quite unsafe when it comes to driving cars. When you have car insurance, you will be protected against all the expenses and liabilities of car damage. If you wish to know more about car insurance in Delhi, scroll down and read on.
What is a car insurance policy?
It is a legal contract that protects the insurance holder from expenses and liabilities in case an unfortunate car accident takes place. The insurance company offers ample coverage to the insurance holder, and thus his expenses are brought down to a great extent. In India, every vehicle owner needs to get third-party insurance as per the Indian Motor Vehicle Act 1988. This brings us to the question of what actually is third-party insurance. Well, there are two major types of insurance available for vehicles. Let's read about them!
Types of car insurance policies
- Comprehensive car insurance policies: Such policies are quite common and offer coverage to losses and damages that are caused to a third-party person, property or vehicle.
- Third-party car insurance policies: These policies are quite beneficial as they offer proper coverage to both third party liabilities as well as damages to the car of the policyholder.
Advantages of getting a car insurance policy:
- Personal accident cover: A comprehensive car insurance offers coverage for disability or death because of an accident. The personal accident cover is available for the owner-driver. There is no need to pay an extra premium.
- Large network of garages: A reputed car insurance provider in Delhi has multiple network garages where you can take your car to get it repaired. The insurance provider will settle the expenses with the garage.
- No claim bonus: You can enjoy the NCB or no claim bonus in case you have not raised any claim throughout the year. Generally, the NCB amount is reduced from the premium you pay.
- Third party liabilities: When you have car insurance, it will cover expenses related to the third party. The insurance provider will cover liabilities and damages to the third party.
Thus, you can see that having a car insurance policy can protect you from all unforeseen expenses and liabilities.
Tips and hacks to choose the best car insurance in Delhi
- Do not forget to compare: Never settle down for just any car insurance policy that you come across by chance. You need to compare different car insurance policies online in order to select the best car insurance company in Delhi. Detailed comparison helps you to know all your options. Thus, you can make a well-informed and smart decision.
- Opt for the apt cover: There are two types of covers available- third party insurance policy and comprehensive insurance policy. You can assess and evaluate your requirements and choose the one which caters to your requirement.
- Keep an eye on discounts: Car insurance companies often come up with attractive deals and discounts. You need to be on the lookout for these discounts. Such offers and discounts easily bring down your expenses.
- Go for a good deductible option: The best car insurance policy in Delhi will always have a proper balance between the deductible and premium. You need to make a smart decision and select your voluntary deductible wisely so as to enjoy the best value of the policy.
- Know the claim process in detail: Before you invest in car insurance in Delhi, you need to be aware of the complete claim process. The insurance should help you out in distressful times. So, always make it a point to enquire about the claim process.
- Select appropriate add-on features: Add-on features enhance your policy coverage. Research well and get the best add-on feature to make your policy all the more profitable.
- Check for the reputation of the car insurance company: Before you buy car insurance in Delhi, you need to make sure that you enquire about the reputation of the insurance provider. It should have a good customer support system as well as an effective claim settlement record.
- Enquire about the renewal process: Also, enquire about the renewal process. Generally, there should be an option for online plan renewal. Know that the renewal process is highly significant as well.
Trivia about car insurance in Delhi
Owing to an increased number of traffic violations, the IRDAI has decided to link motor insurance claims with instances of violation. The committee has recommended the insertion of a fifth section in the motor insurance and call it as "traffic violation premium." This will be applicable to car insurance holders in Delhi, UP and Haryana.
Q1. What should I do in order to renew my car insurance policy?
Ans: The majority of car insurance policies allow the insurance holders to renew the insurance policies online. Renewing your car insurance policy online takes just a few minutes.
Q2. How should I transfer the NCB to my new vehicle?
Ans: When you sell out your existing vehicle, you will receive an NCB reserving letter from your insurance provider. By using this letter, you can transfer the benefit to your new vehicle.
Q3. Should I opt for Zero depreciation or regular cover?
Ans: If your car is a new one, and is less than three years old, then you should go for zero depreciation. Also, zero depreciation is suitable for cars that are expensive. Otherwise, you can go for a regular cover.