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Insurance Article

Car Insurance India - Importance of Online Car Insurance

March 31 2010

Even if you are a very good driver, chances are that someone else might lose control of their vehicle that leads to an accident with you.

Now that you’ve understood the importance of car insurance, let’s look into why online car insurance is important. Online Care Insurance saves the time and trouble of doing research. Rather than having to call several different insurance companies and working out a deal that best suits your needs, you can instead just get instant online quotes of all the insurance companies that you’re interested in.

 Also, since the policy is issued online instantly, there is no waiting period or lengthy paperwork involved. You don’t have to worry about the safekeeping of the original policy, since a digitally signed and valid legal copy would always be accessible to you anywhere and anytime in your online account. Buying online also gives you the advantage of choosing from multiple payment options, including availing of EMI options, which ease the strain of paying a lump-sum amount upfront.

Motor Insurance protects you in three phases. Number one – it offers own-damage coverage, meaning that in the event that your vehicle has met with an accident and sustained damage, the repair charges for the same can be claimed. Number two – it offers a personal accident cover for the driver, wherein any personal injury sustained as a result of the accident can be claimed as compensation. Number three – it offers protection from legal action, such that legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property is covered.

Most insurance companies nowadays even offer customers cashless facility for their damaged vehicle. In this case, the insurance company ties-up with several garages, thus forming a network of garages. In case of accident, the insurance company directly settles the expenses with the garage. So you don’t have to pay anything from your own pocket. Some motor insurance companies even provide you cover that takes care of the towing charges that you would be otherwise likely to bear, in case your vehicle has met with an accident.

As a form of incentive for driving safely and not filing an insurance claim, some motor insurance companies provide you with a NCB (No Claim Bonus). This NCB can in turn be used as a discount on your next insurance premium or to increase your coverage amount. Additionally for a nominal fee, you can also choose to insure the aesthetics and utilities within your vehicle, like fog lights, seat covers, music system and other electronic and non-electric items.

With so many advantages and the ability to utilize them from the comfort of your home, makes buying car insurance online, not only the right choice, but the most obvious one. So the next time you buy a new car, or have to renew your existing motor insurance, do it

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