BMW Car Insurance
BMW Car Insurance
There are two types of cars — one that takes you from point A to point B, and the other type that takes you from point A to point B in absolute style. BMW makes the second type of car. These cars score high on performance, luxury and comfort and are also a lot more expensive.
For many, BMWs are dream cars that deserve the top dollar and the most attention. If you wish to buy it, make sure you include the running cost as well as the BMW car insurance in your budget.
A car insurance policy is essential for luxury cars and is also a legal mandate in India. If you are caught driving without a valid car insurance policy, you have to pay a fine to the tune of ₹2000 - ₹4000. You may also lose your licence and face imprisonment in some cases. So, where to get the insurance for your four-wheeler?
Whenever you are purchasing car insurance, always choose a trustworthy insurance company like Tata AIG. Because trust is the strongest pillar in the insurance business, it is all the more true for buying BMW car insurance and for BMW car insurance renewal. Why? Because luxury cars are expensive, their maintenance and repairs are much more expensive than other sedans and hatches.
That is why Tata AIG offers four-wheeler insurance policies that give 360-degree protection to your dream BMW car. One more thing! You are always recommended to use our car insurance calculator before buying insurance for your four-wheeler. It can save you some money on the premium amount and also help you get the right BMW car insurance.
With this in mind, let us look at the BMW car insurance and purchase procedure, the BMW car insurance price, and other aspects.
BMW Car Insurance Renewal/Purchase via Tata AIG
Buying BMW insurance is essential, not only for legal purposes but also for personal gain. Car insurance can save you from financial liabilities if your car gets into an accident. If there is a third-person injury, where other drivers or pedestrians get injured or killed by your car in an accident, having a valid BMW insurance policy can save you from a lot of trouble.
Now that you know the importance of having insurance for four-wheelers, here is how you can buy one for your BMW car.
Navigate to the car insurance section of Tata AIG’s website.
Feed your car’s registration number.
Click on ‘Get Price’ to see the BMW insurance quote. Or you can click on the ‘Renew’ button for existing BMW insurance renewal.
You will then need to fill out a form and provide details like phone number, email ID and the details of your BMW car.
Now, you will have to determine the Insured Declared Value of your BMW and select it from the list.
Declare if you made car insurance claims in the previous year. select ‘No Claim Bonus’ if you have not.
At this point, you should be able to see your BMW car insurance cost.
Compare our insurance plans, and choose the one you need.
Lastly, you have to make the payment, and once done, you will receive the policy via mail or on your mobile number shortly after verification.
You may also choose to get a duplicate copy of your policy on WhatsApp.
BMW Car Insurance Price – Your Premium Amount
Wondering how much your BMW insurance premium amount will be?
It is not that difficult to calculate. Just use our free online car insurance calculator. But if you want to know how it is calculated, read on.
The first thing that will come into play in determining the BMW insurance cost or its premium is the Insured Declared Value or IDV of the car.
What is IDV? It is the present market value of the car, and the IDV is the amount the insurer will pay you if your car gets stolen or damaged beyond repair, also known as Total Loss.
If you do not know the IDV of your car, you can visit any BMW showroom. Be careful while selecting the IDV. If you choose a high IDV, the premium will be high, and if you choose a low IDV, the insurance payout will be low in the case of total loss.
Thus, choosing the appropriate IDV for your car becomes crucial; otherwise, you will be stuck in the two extreme situations mentioned above. We should also mention that the third-party car insurance costs are not the same as the variables that determine comprehensive coverage for vehicles. It is determined and regulated by the IRDAI.
Other than the IDV of your car, here are the other factors that influence your comprehensive BMW car insurance price;
The cost of your car.
Your track record.
Your No Claim Bonus.
The Registration date of your car.
The place where you will drive your car.
The brand and specifications of your car.
Any customisations you may have made to the car.
The method of policy purchase.
Things Covered and Not Covered Under Tata AIG's BMW Car Insurance
When buying car insurance, it is important to know exactly what you are getting. So, here goes a table showing the inclusions and exclusions of Tata AIG comprehensive car insurance:
|Things Covered Under Tata AIG’s BMW Car Insurance||Things Not Covered under Tata AIG BMW Car Insurance|
|The total loss of the car owing to theft or irreparable damage leading to a total loss.||Damages to the car owing to war, war-like circumstances, or nuclear catastrophes.|
|The damages caused by natural disasters like cyclones, floods, earthquakes, and snowfall.||Damages suffered by the car beyond the geographical jurisdiction defined in the policy papers, that is, beyond the boundaries of India.|
|Third-party liabilities, including any harm to third-party property and any damages to third-party persons (including death) because of the insured car.||Damages caused to the car if driven without a valid Driving licence.|
|Fire-induced damages, for example, ones induced by self-ignition, lightning, blasts, etc.||Periodic maintenance and regular wear and tear of the car owing to usage and depreciation.|
|Damages to the car when it is in transit via waterways, roadways, airways, or railways.||Damages rendered to the car when it is being used for an objective not intended for it, for example, the commercial usage of a personal vehicle.|
|Damages caused to the car in man-made troubles, including strikes, riots, and terrorist attacks.||Losses suffered by the car due to the driver operating it under the influence of drugs or alcohol.|
|A Personal Accident Cover of ₹15 lakhs for the Owner-Driver of the car.||Damages suffered by the car due to the driver's oversight or because of the use of the car for speed racing or impact testing.|
Why Use Tata AIG for Your BMW Car Insurance?
Tata AIG is a name trusted by millions of Indians. We have been in the insurance business for decades, and you can trust us with your BMW insurance.
Here are some other pointers to why you should choose Tata AIG insurance for four-wheelers.
CSR: Tata AIG achieved a 98% claim settlement ratio in 2020–21 as a result of diligent work put forth by our staff.
Claim Professionals: We have a team of over 650 claim resolution specialists working round the clock to ensure that every claim is fairly and favourably resolved.
Knowledge- We have been in the insurance business for over 20 years. Our accumulated knowledge and experience helped us develop new goods and regulations for our clients. We are proud of our strong customer base, which we always strive to serve and preserve.
Customer Service: Serving our clients is our priority at Tata AIG. Please contact us if you have any questions or need our support.
Overview – BMW Car Model
Founded in 1916 in Munich, Germany, BMW made its name in luxury car manufacturing. It is popular for its comfortable and luxurious sedans. It started operations in India in 2007 and set up its headquarters in Chennai.
BMW is one of India's top 5 luxury car brands, and in 2020, it had a 29% market share.
BMW - Models and Prices
Presently, BMW sells 22 car models, out of which 7 are SUVs/MUVs, 9 are in the Sedan category, 1 in the convertible line and 3 in the coupe line. BMW also offers 2 electric vehicles.
|BMW Models and Variants||Price of Variants (Ex-Showroom Delhi)*|
|BMW 2 Series Gran Coupé Petrol||₹41.50 lakhs|
|BMW 3 series||₹46.9 lakhs - ₹68.9 lakhs|
|BMW 5 series||₹64.50 lakhs|
|BMW 6 series||₹69.90 lakhs|
|BMW 7 series||₹1.4 crores|
|BMW X series||₹41.50 lakhs - ₹1.17 crores|
|BMW Z4 Roadster||₹71.9 lakhs|
|BMW M series||₹68.90 lakhs - ₹2.79 crores|
|BMW i||₹69.90 lakhs - ₹1.15 crores|
Unique Selling Points: BMW Cars Features
BMW cars are known for their comfort and luxury. They come with all the latest features, and all top-of-the-line cars have intelligent inputs to make driving more safe, enjoyable and comfortable. The primary reason why people buy BMW cars is for the plush feeling they offer to their customers.
Rivals of BMW
The most popular rivals of the BMW cars are;
Jaguar Land Rover
Disclaimer / TnC
Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.
Frequently Asked Question
Does NCB carry over when I renew my BMW Insurance?
The NCB or No Claim Bonus works like a reward for every claim-free year. The NCB increases with every claim-free year, starting from 20% and going up to 50% for 5 or more claim-free years. It is rewarded as a discount on the insurance premium amount.
Is it necessary to buy car insurance for my BMW car?
All cars need to have a functional and valid insurance policy to ply Indian roads. Driving a car without having car insurance is a punishable offence.
How to claim Tata AIG car insurance?
Claiming your car insurance on Tata AIG is quick and simple. There are only 4-steps to the claim process for your car:
Navigate to the Claim Page and Initiate a Claim.
File your claim with your insurance policy number, FIR details (if needed), and other personal details through the form available on the website.
Tata AIG will evaluate the total damage and send the car to a garage for repairs.
After verification, Tata AIG will start the claim settlement process.
After the motor insurance policy’s claims process is complete, we will fix your car and return it to you. Please note that this process is followed in case of cashless repairs at network garages.
Does opting for add-ons influence my car insurance?
Yes. Add-ons come at an additional cost and can only be clubbed with an existing comprehensive or standalone OD policy. Opting for add-ons will increase the car insurance price.
*Disclaimer: All the car prices and other information listed above pertain to a specific city and vehicle model. Since this information is subject to change, it is advisable to check the latest information before purchasing a vehicle or an insurance policy.