Insurance

What is Car Insurance?

After securing your dream car, the next step is getting reliable car insurance. Car insurance, or four-wheeler insurance, safeguards you and your vehicle against accidents, theft, and natural disasters. In India, you can choose from Standalone Own-Damage, Third-Party, or Comprehensive Insurance.

As per the Motor Vehicles Act of 1988, at least third-party insurance is mandatory, covering damages to others. For broader protection, comprehensive plans cover theft, natural disasters, and mechanical damage.

Key Features of a Car Insurance Policy

Here are some of the key benefits of having a car insurance policy:​

• Financial Protection Against Damages: Covers repair and replacement costs when your car is damaged due to accidents, theft, fire, vandalism, or natural calamities, reducing your out-of-pocket expenses.
• Third-Party Liability Coverage: Legally required to drive in India, it protects you from financial and legal obligations if your car injures someone, damages their vehicle or their property.
• Personal Accident Cover: Provides financial support if the owner-driver faces injury, disability, or death due to an accident, helping cover medical bills and loss of income.
• No Claim Bonus (NCB): Helps reduce your cost of renewal for having no claims made during the policy term, helping you save money over time.
• Cashless Repairs at Partner Garages: Allows you to get your car repaired at network garages without paying upfront, with the insurer settling costs directly with the repair centre.

Type of car Insurance

Documents Required for Car Insurance