Car Insurance is mandatory for every car owner as per Motor Vehicle Insurance Law. Having a right car insurance cover is important, because it offers financial protection in times of car breakdown/ damage/ stealing. Some Car Insurance policies also provide cover against injuries to drivers or co-passengers or pedestrians & property depending on the coverage type or amount as listed with that specific company and its insurance product.
Every premium amount on car insurance is decided based on the IDV (Insured Declared Value) of a vehicle. It is the increase or decrease in IDV that decides the rise or reduction in premium amount.
Comparing Car Insurance isn't an easy task and neither fun. At All Risk Cover we believe in making this process simpler. With us, you can Compare. Choose & Buy Car insurance instantly. Whether you are looking to renew or beat the current insurance company's service or insure a new vehicle we can help you choose the right policy that suits all your needs.
In Motor Insurance, No Claim Bonus is a reward to the policy holders for not making a claim in the preceding years. An insurance holder can get discount from 20% to 50% on payment of premium. The no-claim bonus is translated during renewal in form of discount. The discount on premium payable can be claimed only when a claim-free record throughout the year is maintained. Unfortunately a reduction in premium is not guaranteed due to the changing circumstances or with changes in the market. It is important that you keep your insurer informed of the accident you are involved in or no what so ever may be the situation. Depending on this, claim commencement shall be initiated.
NCB can be transferred from one car to another only if the policy bearer is the same. There are exemptions, but some insurance companies do allow NCB transferring from one insurer to another.
NCB can be terminated for the next year if a claim is made in the policy year. Similarly the same can again be terminated or disapproved if your car insurance policy isn't renewed post expiry within 90 days.
NCB is valid for 2 years. If a policy bearer does not utilise the same or does not have his own policy then he/she is required to start the process from scratch.
A standard car insurance policy offers comprehensive package that ensures safe drive and peace of mind. Every insurance policy you choose gives you endless reasons to drive your car with ease. Here are some coverage options every car insurance company has in common to offer:
Coverage against loss/ damage of an insured car.
Coverage against accident, theft, fire, explosion, natural calamities, third party bodily injuries/ property damage.
24x7 Road Side Assistance.
Cashless Garage facility.
Add-on cover against electrical and non-electronic accessories, tyre change, Key Replacement etc.
No Claim Bonus.
Personal accident cover.
Car Insurance varies from one company to the other. Understanding the crucial nitty-gritty of what is covered and what is not covered with your car insurance is important. Every car insurance policy may not offer coverage on everything you think it does. Here are some coverages that your car insurance policy may not have in offer for you:
Wear and Tear of the car and its parts.
Electrical and Mechanical breakdown.
No coverage against value depreciation of a car.
No coverage under the influence of drugs or alcohol.
Lack of valid driving license.
Damage or loss of engine due to oil leakage.