Best Online Car Insurance Plans to Choose From


Overview Of Car Insurance

Cars are among the most popular forms of personal transportation today. However, vehicular accidents are not entirely uncommon. If you are a car owner, it is important to consider any accidents that could happen and damage your vehicle.

Lately, both new car insurance policies and car insurance renewals have increased significantly. Are you concerned about picking the best car insurance policy? This blog gives you the details of the insurance plans for your car and explains the types of coverage it offers. 

Why is Car Insurance Important? 

The car insurance policy not only safeguards your vehicle but also protects you and your family in case of an accident. For this reason, the Motor Vehicle Act of 1988 demands that all car owners buy car insurance. The following are some of the prime reasons for purchasing car insurance online and making sure to renew it on time:

  • Reduces the liability
  • Covers all kinds of damage
  • Covers hospitalisation costs
  • In the case of death, the family is given compensation
  • You can get coverage at all times by paying to buy a premium. 
  • Buying car insurance online is cheaper. 

What does a Car Insurance Policy Cover? 

The various types of security are referred to as insurance coverage. It’s critical to understand what types of events are covered by any car insurance policy before making a purchase. You can pick from a variety of add-ons to boost the plans’ basic coverage to improve their level of protection. Here are some major types of car insurance coverage available in India.

  • Third-party liability – Every owner of a vehicle needs to get this coverage. This policy provides coverage for any harm that you may cause to another driver. This coverage covers liabilities resulting from someone’s death as well as the expense of hospitalisation and treatment for third parties. It also covers the cost of repairs or replacements for their damaged vehicles.
  • Personal Accident Coverage – You can opt for personal accident coverage to protect yourself. In case of injury, this insurance coverage will cover your medical expenses and any damage that has occurred to you.
  • Theft –  If your car is stolen, this car insurance coverage will compensate as per the Insured Declared Value (IDV) of the car.
  • Collision Damage – When you get collision damage car insurance, the expense of fixing your damaged car is covered. The age and Insured Declared Value of the vehicle are taken into consideration when calculating the cost of collision coverage.
  • Zero Depreciation Cover – Usually, car insurance policies come with this coverage as an add-on. A Zero Depreciation Cover will enable you to receive the full claim amount without taking any cost depreciation into account.

Top 5 Car Insurance Policies For You:

You will always want to check and compare various available plans before buying your car insurance online. Here is a list of some of the best car insurance plans currently available for you to choose from.

Car Insurance PolicyMotor Claim Settlement RatioNetwork Garages
HDFC ERGO Car Insurance91.23%8300+
SBI General Car Insurance91.75%16000+
TATA AIG Car Insurance90.49%7500+
Reliance General Car Insurance85.82%8200+
Bajaj Allianz Car Insurance88.83%4000+
  1. HDFC ERGO Car InsuranceThe features of HDFC ERGO Car Insurance are:
  • It has over 8300 cashless garages, which means you don’t have to worry no matter where you are in India. 
  • The premium plan for HDFC ERGO Car Insurance starts at just ₹2094.
  • You will get 24×7 roadside assistance, thereby making sure that you are not stranded alone. 
  • This plan offers 6 add-on covers, including zero depreciation cover. 
  1. SBI General Car InsuranceThe features of SBI General Car Insurance are:
  • It offers both comprehensive and third-party car insurance
  • You can get multiple add-on covers with premium, like NCB, key replacement, bi-fuel kit, and loss of belongings. 
  • It offers compulsory third-party liability with personal accident coverage. 
  • It provides quick and efficient cashless claim settlements.
  1. TATA AIG Car InsuranceThe features of TATA AIG Car Insurance are:
  • After five years without a claim, you might receive a discount of up to 50% on your car insurance premiums.
  • By purchasing your car insurance online, you can save up to 75% on the insurance price. 
  • Up to 13 add-ons can be included in a comprehensive car insurance policy to safeguard your four-wheeler.
  • You can get a car insurance renewal quickly and easily in 3 simple steps.
  1. Reliance General Car InsuranceThe features of Reliance General Car Insurance are:
  • It offers up to 7 add-ons, including nil depreciation, consumables cover, key protection cover, and engine protector cover. 
  • Reliance General Car Insurance offers comprehensive as well as third-party car insurance. 
  • Free roadside assistance is available. 
  • No claim bonus of up to 50% is available on premium purchases. 
  1. Bajaj Allianz Car InsuranceThe features of Bajaj Allianz Car Insurance are:
  • With its Drive Smart feature, you can track your driving in real-time and receive premium discounts.
  • It provides owner-drivers with personal accident coverage of Rs. 2 lakh.
  • Additionally, the plan provides towing services in the case of a breakdown.
  • Owners, drivers, and passengers may also choose to purchase personal accident coverage. 

The Final Takeaway

Making a choice will be a lot simpler for you now that you are aware of the benefits of different car insurance policies. It is usually a good idea to do research and compare several options before selecting the best plan for you. You can visit the Piramal Finance website to know more about finance and easy financial solutions like insurance, personal loans, credit cards, and more.