Top 7 Reasons to Get a Four-Wheeler Insurance in India

Car insurance is a contract between the car owner and the insurance provider which helps to protect your car against any third-party and own damages. Buying, renewing or claiming four-wheeler insurance is a simple and convenient process that can be done online. Purchasing car insurance online has always been simple. Here are some reasons to consider buying four-wheeler insurance online. They are:  

Affordable Price:  

Buying a Shriram Four-Wheeler Insurance online has many advantages. It is easy to purchase, quick and affordable. To ensure you get the best deal, compare different insurance plans online.  

Reducing the Insured’s liabilities: 

In India, third-party insurance is mandatory, which protects the insured against any legal issues arising from accidents that damage others.  

The insurance will cover the liability costs and they will not have to worry about any legal repercussions. Shriram Car Insurance Third-Party (TP) policy protects the policy holders against third-party liabilities. One can compare different insurance policies online to find the best one. 

Family compensation:  

In case of unforeseen incidents, the insurance company will compensate the policy holder’s family. Purchasing online four-wheeler insurance can help lighten the family's financial burden to some extent.   

The importance of four-wheeler insurance is often overlooked, with some perceiving it as an unnecessary financial burden. However, it is essential to have a policy as it is a legal requirement and if you fail to hold car insurance, it will violate the law. Owning an insurance policy is highly recommended to ensure legal compliance and personal safety.  

Policy Review:  

While purchasing four-wheeler insurance online, one can thoroughly compare and review various policies. Many websites offer policy details and customer reviews. Check on them to better grasp the policy before making a purchase.   

Furthermore, one can take their time to understand various insurance policies available and make a well-informed decision. Many insurance companies even offer online knowledge-based articles and other resources that can help them gain additional information.  

Policy Documents Access:  

An insured can access the digitally signed copies anytime, eliminating the need to hurry to your insurer or talk to an agent to get the policy document. Keeping a backup of the policy documents is beneficial, as it saves both time and money.  

Reminders on premium:  

Buying policies online or offline provides the advantage of regular renewal reminders, eliminating the possibility of forgetting to renew your four-wheeler insurance or losing out on the NCB (No Claim Bonus). 

Payment Options:  

If you want to buy car insurance online, Shriram Four-Wheeler Insurance provides coverage against physical damage, bodily injury and third-party liability.   

You can pay online with a debit card, credit card or net banking safely in a few easy steps. It is important to enter accurate information to get the right quote. Before buying, read the terms and conditions of the policy and contact customer service if you have any queries.  

Final Thoughts  

Getting four-wheeler insurance is essential when buying a new car to comply with legal requirements and protect yourself from unforeseen circumstances. Fortunately, one can easily purchase such plans online within seconds. One can choose between third-party and comprehensive car insurance plans based on their budget and coverage needs.  

For those looking for extensive coverage without straining their pockets, the Shriram Comprehensive Car Insurance plan is one of the market's most popular and affordable options. You can review this plan and many others online to make an informed decision.  

 

Key Highlights  

1. In India, third-party insurance is mandatory, which protects insureds against any legal issues arising from accidents that damage others.  
2. Getting four-wheeler insurance is essential when buying a car to comply with legal requirements and protect yourself from financial responsibility.   
3. Buying policies online provides the advantage of regular renewal reminders, eliminating the possibility of forgetting to renew your four-wheeler insurance or losing out on the NCB (No Claim Bonus).  
4. You can access the digitally signed copies anytime, eliminating the need to hurry to your insurer or agent. 

 

FAQ’s  

Why is insurance essential for vehicles in India?  

Car insurance is a legal contract between the car owner and the provider. The contract helps to protect the car to cover any financial losses of third-party, natural disasters, fire, theft, etc. Buying car insurance by law is essential as it is a legal requirement.    

What factors may affect the insured’s insurance premium?  

The price of car insurance are impacted by several elements, such as the type of car an individual owns, driving habits and demographic information. Further coverages, limits and deductibles they select also affect the insurance premiums. These factors may include age, anti-theft features in one's car, and driving record. While it can be appealing to remove specific coverage to reduce their premium, it is essential to be aware that other elements can influence the cost of their insurance.  

What does a No Claim Bonus (NCB) mean?    

A No Claim Bonus (NCB) is provided by a car insurance company to the insured if they have not filed any claims during the policy year. NCB of 20% to 50% is applied to Own Damage premiums when car insurance policies are renewed. The NCB is transferable even if the policy holder purchases a new vehicle.