Is car insurance mandatory in India?
Purchasing car insurance is mandatory in India. The policyholder pays the yearly premium amount to get the benefits of the insurance policy for a year. The policyholder can also purchase the insurance policy for multiple years for up to 3 years.
What is temporary car insurance coverage in India?
Temporary car insurance coverage is not as exhaustive when compared to a full-fledged car insurance policy available in India. In a Comprehensive policy, the policyholder is protected against the theft of the car, damages to the insured car, cost of third-party liabilities, damages due to fire or calamities, etc.
What is the tenure of a car insurance policy in India?
Usually, the insurance coverage offered in India is limited to two major types of policies – Third-party Liability policy and Comprehensive policy. The tenure of a normal car insurance policy is one year. If one chooses to buy a Comprehensive policy then they can buy more coverage with add-ons and avail other benefits.
What is a car insurance policy?
Car Insurance/Four Wheeler Insurance is an agreement between an insurance company and a car owner under which the former provides an insurance cove...
Why should I buy car insurance?
There are a number of benefits of owning four wheeler insurance. Firstly, it helps you meet the legal requirement of owning at least a third party...
How much fine do I have to pay for not holding car insurance while driving?
It is mandatory to own at least a third party car insurance policy while driving a car. If you get caught driving without it for the first time, yo...
How much is car insurance premium?
The premium rates for third-party car insurance price depend on the engine capacity of the car and is fixed by the IRDAI. However, the premium for...
What if my car insurance policy gets expired?
Every car insurance comes with a validity period, post which you need to renew it to continue to enjoy its benefits. However, even if you miss to g...
How to find my car insurance policy number?
Car insurance policy number is a unique 8 to 10 digit number, given by your car insurance company for the identification of your insurance account....
Which is the best car insurance company in India 2021?
There are a number of factors which make a car insurance company better than its peers. One such important factor is Claim Settlement Ratio (CSR)....
Is car insurance mandatory in India?
As per the Indian Motor Tariff, every car owner in the country is compulsorily required to own at least a third party car insurance cover. Absence...
How is car insurance premium calculated?
The premium price of third-party car insurance plans is determined by the IRDAI, whereas the premium for standalone own-damage and comprehensive pl...
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