Why Choose a Comprehensive Car Insurance Policy?

Why Choose a Comprehensive Car Insurance Policy?

A comprehensive policy offers the widest coverage, protecting you against:

• Third-party liabilities: Covers damages or injuries caused by your car to another person or their property.¹ This is legally mandatory in India.²
• Own damage: Covers damages to your own vehicle due to accidents, natural calamities (flood, earthquake, etc.), fire, theft, vandalism, and man-made disasters.³
• Personal accident cover: Provides financial support for medical expenses, disability, or death of the owner-driver and sometimes passengers.

Key Factors to Compare Online:

When comparing comprehensive car insurance policies online, consider these crucial factors:

1. Coverage Scope:
   • Third-Party Liability: Ensure it meets the legal requirements.
   • Own Damage: Check what perils are covered (accident, theft, natural disasters, etc.).
   • Personal Accident Cover: Review the coverage amount for the owner-driver and optional coverage for passengers.
   • Add-on Covers: These enhance your policy for specific needs. Popular add-ons include:
     • Zero Depreciation (Bumper-to-Bumper): Pays the full cost of replacement parts without deducting depreciation.
     • No Claim Bonus (NCB) Protection: Allows you to retain your NCB discount even if you make a claim.
     • Engine Protection: Covers damage to the engine due to waterlogging or oil leakage.
     • Roadside Assistance: Provides help in case of breakdowns, flat tires, etc.
     • Consumables Cover: Covers the cost of consumables like engine oil, nuts, and bolts.
     • Return to Invoice: Pays the original invoice value of the car in case of total loss or theft.
     • Key Replacement Cover: Covers the cost of replacing lost or stolen keys.
2. Premium Amount:
   • Compare the base premium and the cost of any add-on covers you choose.
   • Remember that the cheapest policy might not offer the best coverage. Balance affordability with necessary features.
3. Insured Declared Value (IDV):
   • IDV is the current market value of your car and the maximum sum insured.
   • Compare the IDV offered by different insurers, as it affects both the premium and the claim amount in case of total loss or theft.
4. Claim Settlement Ratio (CSR):
   • CSR indicates the percentage of claims settled by the insurer. A higher CSR suggests a better chance of hassle-free claim approval. You can usually find this information on the insurer’s website or aggregator platforms.
5. Network Garages:
   • Check the number of cashless garages associated with the insurer. A wider network provides more convenience during repairs.
6. Customer Reviews and Ratings:
   • Read online reviews to understand other customers’ experiences with the insurer’s service and claim process.
7. Deductibles:
   • A deductible is the amount you pay out-of-pocket before the insurance covers the rest. Higher deductibles usually result in lower premiums.
8. Policy Exclusions:
   • Understand what is not covered by the policy to avoid surprises during a claim. Common exclusions include wear and tear, driving under the influence, and using the car for commercial purposes if it’s a private vehicle policy.
9. Online Purchase Benefits:
   • Buying online is often convenient, quick, and may come with discounts.

How to Compare Comprehensive Car Insurance Online:

1. Visit Online Comparison Portals: Websites like Policybazaar, InsuranceDekho, Coverfox, and others allow you to compare quotes from multiple insurers side-by-side.
2. Enter Your Car Details: You’ll need to provide information like your car’s make, model, registration year, RTO location, and your personal details.
3. Select “Comprehensive” Policy: Ensure you’re comparing comprehensive plans.
4. Compare Quotes and Features: Review the premium, IDV, coverage details, add-on options, and claim settlement ratio of different policies.
5. Read Policy Details: Click on the policy to understand the inclusions, exclusions, and terms and conditions.
6. Check Add-on Options: Customize your policy with relevant add-ons and see how they affect the premium.
7. Consider the Insurer’s Reputation: Research the insurer’s claim settlement record and customer reviews.

Top Insurers to Consider (as of May 2025):

Based on general reputation, claim settlement, and features, some of the leading car insurance providers in India include:

• Bajaj Allianz Car Insurance
• ICICI Lombard Car Insurance
• HDFC Ergo Car Insurance
• Tata AIG Car Insurance
• SBI General Insurance
• Digit Insurance
• ACKO General Insurance
• Care Health Insurance (offers car insurance as well)

Remember to:

• Provide accurate information when comparing policies online to get the most accurate quotes.
• Don’t just focus on the premium; consider the overall value and coverage offered.
• Read the policy documents carefully before making a purchase.

By following these steps and considering the key factors, you can effectively compare comprehensive car insurance policies online in India and choose the best one for your needs.