Best car Car Insurance
Find the Best Car Insurance Suiting Your Needs
Looking for your car insurance does not have to be time-consuming! Simply use our car insurance calculator and choose from our various plans to select the best car insurance plan for yourself now!
Looking to Renew/Buy Car Insurance Policy?
Are you looking for a new car insurance plan? Does your existing car insurance policy not offer your car the coverage it deserves? In that case, you should be looking for a good car insurance policy that not only gives the right kind of protection to your car but also ensures that you can easily pay the premiums without burning a hole in your pockets!
In India, it is important that every car owner should at least have a simple and basic third-party car insurance plan. Without this mandatory car insurance plan, you will be headed towards expensive traffic fines and also, legal issues if your driving license is suspended.
To avoid the possibility of these untoward hassles, get yourself a suitable car insurance policy from Tata AIG today!
Types of Car Insurance Policies by Tata AIG
When you want to buy the best online car insurance, there are plenty of options to look at. At Tata AIG, we understand that you can have unique needs for protecting your car. Our customisable options enable you to purchase your car insurance online in a smooth and hassle-free manner.
- Standalone Third-Party Car Insurance Policy
This basic but mandatory car insurance type covers third-party damages to another vehicle or property caused by your insured car. Likewise, if your car is responsible for injuring or causing the death of a third-party person or anyone using the affected third-party car, then this type of car insurance will provide you against the legal and financial losses caused by the damages.
- Standalone Own Damage Car Insurance Policy
Our standalone own damage cover policy protects your insured car from various types of damages caused by accidents, theft, fires, natural calamities and human damage. After September 2018, our standalone own damage car insurance plan will be issued to you only if you already own a basic third-party policy. You can customise the coverage of your own damage policy with the help of the add-on covers we offer.
- Comprehensive Car Insurance Plan
The comprehensive car insurance policy covers third-party damages caused by your insured car as well as own damage to your insured car. With this car insurance type, you are protected against damages such as –
- Accidental damage due to road mishaps
- Fires, implosions, explosions
- theft or irreparable damage (total loss)
- damages caused by natural disasters such as floods, earthquakes, snowfall, etc.
- human causes such as riots, terrorism, vandalism, etc. and more.
If you need extra coverage for your car for specific damages, then you can easily include any of our 13 add-ons to your comprehensive car insurance policy.
Why Do You Need the Best Car Insurance
Your car is an important part of your life that needs to be protected at all costs. But due to several reasons, you may choose to avoid having four wheeler insurance. However, we can help you understand why car insurance is a necessity for you:
- Compliance with the law:
A car insurance plan is not only meant to protect your car from damages but is also a legal requirement as per the Motor Vehicles Act 1988. With at least a third-party car insurance policy, you can ensure compliance with the law and all the traffic rules in the country.
- Third-party liability protection:
A standalone third-party car insurance policy or a comprehensive car insurance policy ensures that you are protected from third-party liabilities such as damages to third-party property or vehicle and injuries to a third-party person due to your insured vehicle. Any legal or financial damages arising out of such losses will be borne by the third-party car insurance plan.
- Coverage against theft:
If your car is stolen, you need not be worried about the loss as your car insurance coverage will protect you against total loss. In this case, you will be compensated with the Insured Declared Value of your car, which is its current and total market value.
- Coverage against natural calamities
Should your car be damaged due to natural disasters such as floods, earthquakes, cyclones, and the like, the financial damages to your car can be covered by a standalone own damage car policy or a comprehensive car insurance plan.
- Personal Accident Cover
If you suffer personal injuries due to an accident, the cost of treating your injuries, the hospitalisation and the ambulance transport will be covered by a personal accident cover worth up to ₹15 lakhs that is supposed to be taken for the owner-driver along with your car insurance policy. And in case of your unfortunate demise, your beneficiaries will be eligible for the reimbursement.
Points To Consider While Choosing The Best Car Insurance
We understand that you want complete and uncompromised protection for your car, and so, you will want to choose the best car insurance policy. Hence, here are some points you can take a look at while picking the best car insurance policy for your four-wheeler.
- Decide Insurance Type
The type of car insurance policy you select will depend on your car’s insurance needs. With Tata AIG, you can choose from any type of car insurance - be it a comprehensive car insurance policy, a standalone car insurance policy or a standalone third-party car insurance plan. If you only need basic protection for your car, then a third-party policy is good enough, while the standalone own damage cover helps you cover losses to your own car. For more extensive coverage, a comprehensive car policy is a good choice. The best car insurance policy is the one that ticks all the right boxes!
- Check Policy Coverage
The policy coverage for your car insurance will be based on your needs and the extent of coverage your car needs. If you have an old car that you use occasionally or want to sell off soon, then a third-party policy in car insurance will suffice. Even when you buy a new car and are still looking for a comprehensive policy or a standalone insurance policy, it is wise to have at least third-party coverage during this period. You can choose a standalone car insurance policy for protecting your car against own-damage, while a comprehensive car policy in car insurance combines protection from own damage as well as third-party damage under the same policy.
To explore further and find out more about which policy offers adequate coverage, you can use our online car insurance calculator to compare the various policies available to you.
- Availability of Add-ons
At Tata AIG, when you buy car insurance online, you can easily enhance the coverage of your own damage policy or your comprehensive policy by choosing some add-ons from our unique set of 12 add-ons covers. These add-ons such as Return to Invoice, Zero Depreciation, Engine Secure and more, protect your car from specific damages that cannot be covered under your car insurance policy.
If you buy your car insurance online, you can also calculate the policy premiums on our car insurance calculator to check if you should retain or delete any add-ons from your policy.
- Insured Declared Value (IDV)
The Insured Declared Value or IDV is the current market value of your car and is also the total insurance amount for which your car is covered. Always choose an appropriate IDV for your car so that in case of a total loss, we can adequately compensate you. By choosing a low IDV, you risk low coverage for your vehicle, while a higher IDV means expensive premium payments.
- Network of Cashless Garages
If your car suffers damage and you need to have it repaired, your Tata AIG car policy enables you to get your car repaired in any of our 7500+ network garages across India. By choosing a cashless garage, you need not pay for the damages at all; we will settle the amount directly with the network garage. And if you choose a garage of your preference for the repairs, let us know about the costs, and we will reimburse you for the same. Either way, your car policy helps you with the financial damages.
- Compare Quotes
It is essential to compare car insurance if you want to have the best car insurance available. Without comparing the policies, you could easily miss out on the best car insurance deals and settle for something that doesn’t even protect your car well. You can easily compare car insurance policies online using the Tata AIG car insurance calculator for better car insurance deals and adequate coverage for your vehicle.
- Claim Settlement Ratio
It is important to check the claim settlement ratio (CSR) of your insurance provider before choosing a four wheeler insurance policy. This ratio refers to the number of claims settled diligently by the insurance provider as compared to the number of claims received during that financial year. The CSR indicates if your car insurance provider will be able to fulfil your four wheeler insurance claim successfully and in time to compensate you for the damage. The best car insurance provider should ideally have a very high claim settlement ratio. Tata AIG has a claim settlement ratio of 98% for FY 2020-21
In a Nutshell
Once you know about the best car insurance that you need to care for your car, finding the best four wheeler insurance can just be a few clicks away. To buy a four wheeler insurance policy that suits your car and your budget perfectly, you can choose from our range of car insurance policies online. Moreover, our car insurance calculator makes it even easier for you to find the right coverage for your car within minutes!
Frequently Asked Question
1.What will happen if I don’t raise any claims against my insurance policy for a whole year?
If you do not raise any claims for damages to your car for the whole policy year, you will be eligible for a No Claim Bonus discount on your car insurance policy premiums. We offer a No Claim Bonus discount during your car insurance policy renewal if you have not filed any claims yet. And with every passing claim-free year, the percentage of this discount increases till you’re finally only paying 50% of your premium each year after 5 consecutive claim-free years.
However, it is important to remember that the No Claim Bonus is calculated on the own damage component and is not applicable for third-party car insurance or on the premiums paid for add-on covers.
2. Can No Claim Bonus for car insurance be availed if I change my insurance company?
Your No Claim Bonus discount is awarded specifically to you for being a responsible driver, and it belongs only to you. Hence, if you change your car insurance company, you can still retain your NCB discount. While renewing your policy, you will have to provide a renewal notice from your current insurance provider to your new car insurance company that states how much NCB you are eligible for.
3. Does the depreciation value while calculating IDV differs from one insurance provider to another?
The depreciation will depend on the age of your car and will have an impact on the Insured Declared Value of your car. This means, if your car is, say, just less than 5 years old and you need to file a claim, a depreciation of 50% will be charged on the claim amount.
Any car insurance provider will offer some options in IDV for your car. When you buy your car insurance policy online, you can choose a suitable IDV for your car. At Tata AIG, we offer some of the most suitable IDVs for your car so that you can easily choose the best car insurance IDV that meets your insurance needs. However, it is wise not to choose an IDV that is too high as it will increase your premiums, while a low IDV will lead to a compromise on the coverage for your four-wheeler.
4. Which car insurance plan should I choose?
You can choose from a range of car insurance plans at Tata AIG. We offer comprehensive packages, standalone own damages policies and standalone third-party policies so that you can pick the best car insurance policy as per your needs. If you have a new car and intend to buy a comprehensive car insurance plan soon, then you can opt for third-party insurance to keep your car secure until then. Likewise, if you have a very old car that you rarely use or intend to give away for a new one, you can manage with a standalone third-party liability cover for the time being. A third-party insurance cover is always essential since it is a legal requirement.
However, if you use your car quite often and on busy roads, opt for a comprehensive car insurance plan that covers own-damage as well as third-party liabilities. A standalone own damage insurance policy is ideal and will be issued to you only if you already have a standalone third-party car insurance plan.
5.Which is the best car insurance plan among comprehensive and third-party liability plans?
Between the two types of car insurance policies, a comprehensive car insurance plan is always better as it includes own damage cover as well as third-party cover. A standalone third-party plan will only cover damages and injuries to a third-party vehicle, property or person and not cover own damage to your car, which leaves it vulnerable to financial damages.