Updates over WhatsApp
In India, having a valid car insurance policy is one of the prerequisites to take your car on the road.
In India, having a valid car insurance policy is one of the prerequisites to take your car on the road. As per the Motor Vehicles Act, driving without an insurance cover is a punishable offence. If you are caught by the traffic authorities without an insurance policy, you would be liable to pay a hefty fine, face imprisonment or both.
Apart from abiding by the traffic rules, it is important to have an own damage insurance along with a third-party car insurance cover to get financial protection against the losses you may face due to your involvement in a road accident. If you have a comprehensive policy, the insurance company will compensate for third-party liabilities, and damages to your vehicle both. Although the premium for comprehensive policy is slightly higher than third-party insurance, it can help you save a lot of money during a mishap like accident, loss or theft of the vehicle, etc.
Many car owners in India avoid buying or renewing their car insurance policy mainly because they think it is expensive. However, car insurance renewal does not always cost a bomb. You can use the below tips and save a significant amount while renewing your four-wheeler insurance policy.
While buying a car insurance policy for the first time, you may have purchased a few add-ons to get additional protection against specific risks that your regular policy does not cover. However, with every add-on you buy, your premium increases. So, when you renew car insurance online, review the add-ons you have, and determine if you really need them. Being prudent with add-ons is the key to renewing your car insurance at an affordable price.
If you have installed anti-theft devices that are approved by Automobile Research Association of India (ARAI), you must inform the insurer about it and you can save money on your insurance premium during renewal. Nowadays, many insurance companies encourage these devices as they help in preventing theft and reduce the likelihood of them filing a claim. Thus, installing an anti-theft device in your car provides a win-win situation for both the insured and insurer.
No Claim Bonus or NCB is a discount that you are eligible to get if you don’t file a single claim in policy year. The discount increases with each claim free. All insurance companies allow you to carry forward the accumulated rewards, and you can use it during renewal and get an attractive discount on the premium rate.
So, it is better to avoid filing a claim for minor repairs and damages. This will help you maintain your NCB and you can use it during renewal and get the same coverage but at a lower premium.
Perhaps the easiest and most practical way to save money on car insurance renewal is to compare the different policies provided by your insurer. Compare the plans based on the price, coverage offered, and other benefits.
I/we give my/our consent to receive information in respect of policy servicing, claim servicing, updates on my policy, updates on new and existing product, marketing or servicing my relationship with Kotak Mahindra General Insurance Company Limited, its group companies/associates or agents through Telephone/Mobile/SMS/e-Mail, etc. Further, i/we understand that my/our consent to receive calls/communications shall be valid and shall prevail over my/our current or any subsequent registration of my/our number for the NDNC and shall continue to be treated as my/our consent/acceptance. (If you do not wish to accord your consent, please submit a Do Not Call (DNC) form alongwith this form.
I/we have understood the form, including the clause on consent to call, and i/we have agreed the same after understanding and accepting the terms contained therein.
Benefits of car insurance
A car insurance can help you offset substantial financial loss that you may incur because of damage caused to your car
Must have Add On Covers for Car Insurance
A basic comprehensive car insurance covers damage to car, 3rd party liability and theft & loss of vehicle.
Right time to buy vehicle insurance
Buying a vehicle insurance is an important decision and you need to ensure that you make a timely purchase of vehicle insurance
Know How Car Insurance Premium Is Calculated
Car insurance premium calculation is based on various important factors. Learn about these factors.
Rules to follow for safe driving
Know About The Important Road Safety Rules To Follow
Significance of a motor vehicle insurance policy
Apart from financial security, know in what all ways a motor insurance policy is significant.
Maintenance tips for car engine
Follow these maintenance tips and buy a car insurance with engine protection cover to keep engine secure.
Monsoon Tips for Car
Simple tips to help you stay safe and keep your car moving ahead during monsoon.
What is Zero Depreciation Cover
Read on to understand what is zero depreciation car insurance cover and how it works.
Questions Regarding Motor Insurance Policies
Essential questions answered about motor insurance policies in India.
To optimise our site experience on your handheld device, please hold your phone vertically.