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Insuring your vehicle online is easy, but that shouldn’t mean that you should be careless and not take time to understand certain terms and conditions of your car insurance. Read this post to know those terms to make an informed choice.

Gone are the days when you had to depend on your insurance agent to help you renew or buy an insurance policy for your vehicle. Today, you can buy vehicle insurance online in just a few minutes by following the steps mentioned on the website.

However, one thing you should pay attention to is the terms and conditions of the policy. In a hurry, you might miss out on some important details that can cause you trouble later.

Here are 6 things you should check before you buy your shortlisted vehicle insurance policy.

1. List of coverages

The first thing to check for in the vehicle insurance is the damages the insurer will cover. These can be broadly classified into 4 types.

1. Third-party cover
This is the mandatory cover as per the Indian Motor Vehicles Act 1988.

2. Personal accident cover
This is also a mandatory buy. You can skip this if you already have an existing personal accident policy of 15 lakhs or more.

3. Own-damage cover
This optional coverage protects the insured vehicle against potential damages in an accident according to the terms and conditions.

4. Add-on cover
This includes any extra add-ons you may have purchased over and above your comprehensive cover. You can either buy the mandatory 3rd party policy or the optional comprehensive cover that includes all the first three damages. You can only take add-on covers along with the comprehensive cover.

Make sure you check these coverages in detail and ensure they align with your needs.

2. Policy duration

Next thing, make sure you check the policy duration of the vehicle insurance. While the duration is usually 1-year, it may be more for long-term policies. You must ensure you renew your policy within this duration to stay protected. Losing out on the mandatory 3rd party cover can lead to penalties. On the other hand, you may lose out on some benefits if you don't renew your comprehensive policy within the set duration. Besides, you are unprotected from the covered damages.

3. Vehicle’s IDV

Insured Declared Value or IDV is the maximum amount the insurer agrees to give to the insured if the car is totalled in an accident or stolen beyond recovery. This IDV reduces every year based on the depreciation charged. While you're free to set the IDV as high as you want, it doesn't necessarily mean better coverage. In case of a total loss of the car, the insurer will compensate either the IDV set by you or after charging depreciation on its ex-showroom price (as per the depreciation schedule by IRDA), whichever is lower.

4. List of exclusions

Every vehicle cover comes with certain exclusions. These are the damages that the insurance provider does not cover. While these typically remain standard across all insurers, some may differ. Usually listed in the policy brochure and the policy wordings of the insurer, it's important to study these and know them in detail. Some of the typical exclusions include-

• Any damages caused by an accident where the driver is under the influence of alcohol or drugs.

• Any damages caused while not following traffic rules, like driving without a license or jumping a red light.

• Adding modifications to the car that are illegal.

5. Features and benefits

The features and benefits of a vehicle insurance policy are given in the insurer’s brochure. Understand the features and the customisation offered before you purchase comprehensive vehicle insurance online. For instance, you can include some important add-ons like tyre covers, 24 x 7 roadside assistance, etc., by paying an additional premium while making the purchase.

Moreover, understand the discounts offered on certain factors like opting for voluntary deductibles, installing anti-theft devices, availing of the No Claim Bonus, etc.

6. Claim process

The process of raising a claim against your car insurance can be different with different insurers. Therefore, it’s vital to know the process of filing a claim in the event of an accident. For instance, if you opt for a cashless claim facility, learn the steps involved and the network garages on the list.

Buying vehicle insurance online is an easy process with Kotak General insurance. However, making an informed choice is important before you finalize your car insurance plan. If you are looking for a comprehensive car insurance plan, you can choose Kotak Car Secure, which provides extensive coverage to your car. In case of queries, you can call our customer care executive at the toll-free number.

Disclaimer: The content provided is for education and informational purpose only, none of the information contained in our blog amounts to any form of opinion or advice. Please go through policy related documents carefully or consult an expert before making any insurance-related decisions.

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