Secure your interests with the best car insurance plan today
So, let's talk wheels! Life is cool when you’re driving. Breaking in your new ride like a boss, fresh off the lot, you feel the horsepower and it’s undoubtedly addictive. But wait, hold on. Roads are not made only for adventures, journeys or cool car pics.
Show MoreWhat is Car Insurance?
A car insurance is a contract between you and the insurance company that protects and safeguards you against financial loss in the event of an accident or theft. In exchange for a small fee, insurance companies provide financial protection to four-wheelers against unexpected events such as accidents, theft, fires, natural disasters, and third-party liabilities. Plus, having valid car insurance can help you avoid hefty traffic fines. Car insurance covers the loss or damage to a car that is caused by an accident. Car insurance covers damages and defilements to the car's body, engine and other parts, but it does not cover the loss of personal belongings inside the car. Show more
Types Of Car Insurance
At Beema1, you can buy three different types of car insurance policies, including third-party insurance, comprehensive insurance, and standalone own-damage insurance
Comprehensive Car Insurance
Considered the top choice among car owners, this insurance policy offers extensive coverage for both your vehicle and third-party damages. True to its name, comprehensive insurance provides financial support for a wide range of situations, including damages from natural disasters, accidents, theft, ....
Third-party Car Insurance
If you're hitting the road in India, you've got to have third-party four-wheeler insurance—it's the law! This policy steps in to cover any injuries, disabilities, or even unfortunate fatalities of third parties involved in an accident with your car. Plus, it kicks in to cover any property damage too....
Own Damage Car Insurance
In September 2019, the Insurance Regulatory and Development Authority of India (IRDAI) introduced the Standalone Own-Damage car insurance policy. This unique plan provides coverage exclusively for the damages incurred by your vehicle in various scenarios like accidents, natural disasters, fires, the....
Third-Party Car Insurance vs Comprehensive Car Insurance
To help you in selecting the perfect car insurance policy, check out the comparison table below. It highlights the features offered under various types of car insurance policies in India:....
Third-Party Car Insurance vs Comprehensive Car Insurance
To help you in selecting the perfect car insurance policy, check out the comparison table below. It highlights the features offered under various types of car insurance policies in India
| Key Points | Comprehensive Insurance | Third-party Insurance |
|---|---|---|
| Definition | Comprehensive coverage provides complete protection for your car as well as third-party liabilities. | Third-party insurance provides protection only if a third party is damaged due to the insured vehicle. |
| Coverage | It covers the financial loss to the insured car and a third-party. | It provides financial compensation if there is damage to a third party. |
| Legal Requirement | No, this type of policy is not legally required. | As per the Motor Vehicles Act of 1988, this type of policy is a mandatory requirement. |
| Cost | As it offers more coverage, it is generally costlier. | It is more affordable as compared to a comprehensive plan. |
| Exclusions | Any damage to the insured car or a third party is not covered if you are driving under the influence of alcohol or drugs. | Any damage to the vehicle is not covered. |
| Add-ons | Several add-ons can be included in a comprehensive plan. | You can include add-ons in a third-party insurance. |
Why Car Insurance Plan Is Important and What Does Auto Insurance Coverage Protect ?
An auto insurance policy will not cover you and your family members on the policy, whether driving someone else’s car (with their permission). Your policy also doesn’t provide coverage to someone who is not on your policy and is driving your car with your consent. That particular insurance policy will cover the personal loss caused to any person on third party damage but the same will not provide any coverage for personal loss to you or your family even though you drive someone else’s car with his/her due permission. Personal auto insurance only covers personal driving. It will not provide coverage if you use your car for any commercial purposes—such as making delivery services. Neither will it provide coverage if you use your personal car for ride-sharing services such as Uber, Ola or Lyft. For utilizing your personal car for commercial purposes, you need to intimate the Regional Transport Office or Road Transport Office (RTO) office and transform the status of your car into a commercial vehicle span
Other types of insurance such as health insurance and homeowner’s insurance may seem more important, but if you own an automobile insurance policy, it can help you save a lot of money and save you from causing botheration and difficulties in the long run. So, do not miss to browse, compare and buy from Bheema 1 for the best car insurance rates to explore, locate and choose your required coverage at a price you can afford. Get access to the four-wheeler insurance quotes from our car insurance comparison page on the website of Beema1.
Premium Calculator:-Secure your interests with the best low-cost car insurance policy today. Calculate your premium with the help of an online premium calculator and get the best car insurance in India with an online discount. You will be well equipped with information and once you browse through with the help of the best car insurance rate finder and receiving the best online four-wheeler quotes from the Beema1 team experts. Vehicle insurance premium calculator is advantageous. Vehicle insurance is obligatory in India according to laws and legal bodies. Vehicle insurance assures contentment by moderation of the unpredicted expenses caused by accidents or legal responsibilities. Vehicle insurance should not be purchased under pressure. Purchasing of vehicle insurance should be based on providing ultimate protection through a financial armor to the insured vehicle under the circumstances of any mis-happenings or phenomenon.
How To Choose The Right Car Insurance Policy Online?
Drive Worry-Free with Beema1
When it comes to choosing the perfect car insurance policy, there are a bunch of things to consider. Factors like coverage options, claim settlement track record, availability of cashless repairs, and more all play a role in finding the right fit for you. Check out some of the key factors listed below:
Choose the Right Coverage: Third-party insurance will do if you just want basic protection against traffic fines. But for full-on vehicle protection, go for a comprehensive policy.
Decide on the IDV: Aim for an Insured Declared Value (IDV) that matches your car's market value. While a lower IDV might lower your premium, it could leave you with higher expenses if you need to make a claim. You can use an online IDV calculator to help you figure out the right value.
Check the Claim Settlement Ratio (CSR): Before you commit, take a peek at the insurance company's claim settlement ratio. A higher CSR means a better chance of your claims getting sorted hassle-free.
Cashless Garages: Look into the number of cashless network garages in your area. More options mean more convenience when it comes to cashless repairs.
Smooth Claim Process: Opt for an insurer that promises a straightforward claim process, round-the-clock support, and speedy settlements.
Compare Plans Online: Don't settle for the first plan you see. Take the time to compare multiple car insurance plans online to find the one that fits your needs and budget.
Customer Support: Make sure the insurance company offers 24x7 customer assistance. This ensures you can get help with your queries and claims whenever you need it.
Worth of Your Car: The cost of your insurance policy should match with the value of your vehicle.
The kind of a driver you are: How frequent you drive and the kind of a driver you are with. Your driving habits matters a lot. What kind of a driver you are, that does affect the cost of your insurance when you apply for pay-as-you drive or pay-how-you drive options.
How much you are ready to pay from your own pocket: This is completely as per your decided budget and how much risk you can afford. If any accident happens, and if you are not willing to or afford to spend money, from your own pocket for the repairing of your car, then opt for your own damage cover instead of a Third-Party-Policy.
Area of your residence: Online car insurance costs can differ depending on the area of your residence, such as crime rate in your area and traffic conditions in your area
Type of coverage you need: Navigate from the options from comprehensive, liability, collision, and personal injury protection. Compare car insurance quotes now and start saving.
Discount Rates: Navigate the eligibility such as discounts for having multiple policies, being a safe driver, or driving less.
Key Highlights of Car Insurance Policy
Auto Insurance Costs - There are two primary costs associated with purchasing car insurance: premiums and deductibles. Car insurance premiums vary based on the calculation and assessment of multiple factors. The following are the several factors: the gender of the applicant , age at the time of applying, driving experience in number of years, accident and moving encroachment and contravention history, and several other factors. At the same time it’s a mandate in many states to pay a minimum amount of auto insurance. That minimum amount varies by state, but many people avail of additional insurance for their further protection. Above it, if you're financing a car, the lender may designate and guarantee that you carry certain types of car insurance. For example, you may need gap insurance if you're planning to buy an expensive vehicle that will diminish very quickly once you drive it off the lot. Gap insurance helps to pay off the difference in the price value between the value price of the vehicle and what you still owe on it if you're unfortunately involved in an accident. An indigent driving record or the wish for complete coverage will lead to paying higher premiums. Any which ways, you can cut back your premiums on agreeing upon to be adept with more risk, which states increasing your deductible. Deductible is the amount of money you have to pay while filing a claim before the insurer will pay out an amount to you for damages. For instance, your policy may have a $1000 or $1500 deductible. Agreeing and accepting a higher deductible can be a consequence of a lower premium, but you'd have to be justifiably sure you could cover the higher amount if you at all need to file a claim.
Key Point: Clarify with your insurance company regarding how you can lower your car insurance rates, by availing a safe driving discount or taking a defensive driving course.
| Si No. | Highlights | Benefits |
|---|---|---|
| 1. | Third-Party Cover | Coverage for third-party injury and property damage |
| 2. | Own Damage Cover | Covers the damage and loss incurred by the insured four-wheeler |
| 3. | Personal Accident Cover | Available up to 15 lakh |
| 4. | Add-on Covers | Various add-ons are available based on the policy such as zero depreciation cover, return to invoice cover, roadside assistance, etc. |
| 5. | Cashless Claim | Available at the network garages of the insurer |
| 6. | No Claim Bonus | Up to 50% |
Aspects That Influence Car Insurance Quotes
A car insurance quote might not give you an exact figure for how much you will pay for the coverage, it can provide an estimate of the premium that a provider offers. Traditionally, insurance companies regulate premiums based on rates and underwriting, the method by which an insurance company analyzes an insurance applicant’s risk and the likelihood that they’ll file for claims.
Let’s say, a driver who has moving violations and traffic accidents under their name on their driving record is considered to have higher risk compared to the person who has a clean driving record under his/her name and will usually have a higher premium.
Premiums can vary throughout the life of a policy, depending on changes in the risk level. The general rating factors of an applicant are as follow:
Sometimes, certainly you can minimize your premium by reducing the risk imposed to the insurer. For an instance, if you rent an apartment in an area
Your location may also pose a higher risk if you live in a residential location susceptible to severe weather conditions, such as floods, cyclones, hailstorms, hurricanes, and tornadoes.
You may also minimize your rate by developing or increasing your deductible—the portion of a claim you must pay out of pocket—or by dropping optional coverages you don’t require.
An expanding number of insurance providers now offer usage-based insurance (UBI) programs, which fix the premiums depending on the driving habits of a motorist. For example, for the drivers who maintain safe driving habits, avoiding late-night trips and speeding, a UBI program may provide a lower premium than a traditionally rated insurance policy.
From where can we get a quote for car insurance?While looking for car insurance quotes, try a comprehensive approach. You can receive quotes in several ways:
While requesting for quotes, without failing follow a few thumb rules to ensure you receive the best possible estimates and the best car insurance rates to bypass the drawbacks:
While requesting for quotes, without failing follow a few thumb rules to ensure you receive the best possible estimates and the best car insurance rates to bypass the drawbacks:
If an accident caused by your car results in a disability of a third party, then the compensation for the same will be provided
Compensation will be provided in case an accident caused by your car results in a demise of a third party.
Damages caused to a third party’s property will be covered up to Rs. 7.5 Lakh.
Damages caused to your car in accidents or collisions will be covered.
Damages sustained by your car in natural disasters such as earthquakes, floods, cyclones, etc. will be covered.
Damages incurred by your car in man-made disasters like riots, strikes, terrorism, vandalism, etc will be covered.
Damages caused to your car during transit by road, rail, inland waterway, and lift will be covered.
Damages sustained by your car in fire and explosions will be covered.
What Is Covered Under Car Insurance Policy ?
Third Party Bodily Injuries: All bodily Injuries caused to someone else by your car in an accident will be compensated for by your insurance provider
Third Party Disability: If an accident caused by your car results in a disability of a third party, then the compensation for the same will be provided
Third party Death: Compensation will be provided in case an accident caused by your car results in a demise of a third party.
Third Party Property Damage: Damages caused to a third party’s property will be covered up to Rs. 7.5 Lakh.
Mechanical/Electrical Breakdown:: Any mechanical or electrical breakdowns are excluded from coverage.
What Is Not Covered Under Car Insurance Policy ?
Drunk Driving:: Any claims from incidents where the driver was under the influence of alcohol will not be accepted.
Driving Without a Valid Driver’s License: If the driver didnt have a valid license at the time of the incident, there is no coverage.
Wear and Tear/Depreciation: Routine wear and tear, as well as depreciation, are not covered.
Consumables: Items like engine oil, brake oil, air conditioner refrigerant, radiator coolant, nuts, bolts, screws, washers, and grease are not covered.
Mechanical/Electrical Breakdown:: Any mechanical or electrical breakdowns are excluded from coverage.
How To Choose Car Insurance Policy Online?
There are three types of car insurance policies: third-party, own-damage, and comprehensive. Assess your needs carefully. A third-party policy ensures legal compliance, while a comprehensive plan offers full protection for your vehicle. At Beema1, we offer all three types, so you can select the one that fits your needs and budget.
The premium depends on factors like IDV, car model, fuel type, and age. Premiums vary between insurers, so it’s essential to compare them. Ensure you choose a plan that fits your budget without compromising on coverage.
The Insured Declared Value (IDV) is the current market value of your car. It decreases as your vehicle ages and undergoes wear and tear. The IDV is the maximum amount the insurer will pay if your car is completely damaged or stolen. A higher IDV means a higher premium, so choose wisely.
Comparing car insurance policies online helps you find the best plan for your needs and budget. Analyze the coverage offered by different plans to make an informed decision.
Enhance your plan with add-ons like zero depreciation cover, no claim bonus, key loss cover, and engine protection. Adding these options provides extra coverage and ensures comprehensive protection for your vehicle.
Cashless garages allow you to get repairs done without paying upfront. Choose an insurer with a wide network of cashless garages for hassle-free repairs and claims settlement
The Claim Settlement Ratio (CSR) reflects the insurers efficiency in settling claims. A higher CSR indicates a reliable insurer. Opt for a company with a simple and quick claim process and a high CSR.
Beyond CSR, consider the services provided by the insurer. Look for features like quick claim settlement, 24/7 customer service, and other support services. Choose a company known for hassle-free customer service.
Why Is Car Insurance Important In India?
Car insurance is essential in India for several reasons. Firstly, it provides financial protection against damages caused to your vehicle due to accidents, theft, or natural disasters. Secondly, it covers third-party liabilities, ensuring that you are protected from legal claims arising from injuries or property damage to others.
Zero PaperworkOur application process is fully digital, requiring only scanned copies of documents, minimizing or eliminating paperwork.
Cost-effectiveBy cutting out the middleman, we reduce commission costs and offer frequent discounts, making insurance more affordable.
Convenient and Time EffectiveNo more being restricted by branch hours or agent availability. Buy your policy whenever it suits you best.
Payment RemindersOur mobile app sends regular reminders, ensuring you never miss a payment due date.
Pay Premium OnlineEmbrace the convenience of digital payments. Our platform supports all online payment methods.
How to Buy Car Insurance Online?
In few Easy Steps Buy Car Insurence Policy Online Via Beema1.com
Documents Required To Avail Four-Wheeler Insurance Online
Here's what you need to have ready when buying car insurance online:
Renew Car Insurance Policy Online | Up to 75%* Off
A new car insurance has a validity period after which it needs to be renewed. That's why it's essential to renew your policy before it expires. Renewing your car insurance online offers a host of benefits, making it a convenient and wise choice.
Easy Comparison of Four-Wheeler Renewal Online:-Renewing your insurance online offers a plethora of advantages. Firstly, it allows you to effortlessly compare plans from various insurers, giving you a clear picture of what each offer. You can also explore additional services like free pick-up and drop facility, 3-day repair assistance, cashless assurance, and self-video claims.
Easy CustomizationYou can easily modify the coverage of your car insurance policy during renewal by adding or removing the add-on covers. However, keep in mind that these add-ons can impact your car's premium.
Easy to Switch the InsurerSwitching insurers is another benefit of online renewal. If you're not satisfied with your current provider or find better features elsewhere, you can easily make the switch from the comfort of your home.
Secured & TransparentThe process is not only convenient but also secure and transparent. Secure payment gateways ensure your transactions are safe, and you can make premium payments using credit cards, debit cards, or UPI.
How To File A Car Insurance Claim?
Understanding the right steps to file a car insurance claim is crucial, as any misstep could lead to claim rejection by your insurer. Follow these steps to smoothly raise a valid claim for your four-wheeler insurance:
Car Insurance Claim Settlement
Nobody can specify how long it actually takes to process a car insurance claim, but in India usually car insurance companies aim for the settlement of a claim within a month of time. Car insurance claims may take days, weeks, or even over a month to get resolved, and insurance companies have to settle accepted claims. Depending on the gravity of the impairment or damage caused to your car, the time of settling your claim is determined. The claim settlement process also depends on facts like whether it’s clear who was responsible for the damage, and how fast you provide with all the important and essential information to the insurance company. The turnaround time for the settlement of your car insurance claim also depends on the type of claim you make.
Total Percentage of claims settled is 75.60% in terms of Motor Insurance, as per IRDAI Annual Report 2022-2023. When you plan to invest your hard-earned money in any car insurance company you should know the IRDA car insurance claim settlement ratio of the same.
The term claim settlement in terms of car insurance symbolizes the right of every policyowner to be reimbursed for the financial costs that they incurred due to mishaps such as accidents that involved their vehicles. As a policyholder, as you file a claim with your insurer, the latter pays you for the financial liability that has taken place. This is done based on the scope and nature of the policy that is in question. It is mandatory and a wise choice of looking at the CSR percentage of an insurance company before selecting the same for yourself.
| Motor Insurence | 2021-22 | 2022-23 |
|---|---|---|
| Zuno General Insurance Co. Ltd. | 84.61 | 79.83 |
| Bajaj Allianz General Insurance Co. Ltd. | 68.53 | 74.48 |
| Go Digit General Insurance Ltd. | 79.54 | 68.76 |
| HDFC ERGO General Insurance Co. Ltd. | 74.66 | 78.09 |
| ICICI Lombard General Insurance Co. Ltd. | 70.88 | 72.4 |
| Reliance General Insurance Co. Ltd. | 75.57 | 79.62 |
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FAQ
Frequently Asked Questions About Insurance
Beema1 comes with questions and answers which is a good thing, especially when you’re trying to get the most out of a policy or pick up additional coverage. But sometimes, consumers aren’t even sure where to start or what to ask. Whenever you need clarification or a second opinion, our experts are here. We’ll start a frank conversation with you to sort through the clutter and get to the heart of coverage.Insurance is essential because it protects you from financial losses that could otherwise be devastating. In addition, it provides peace of mind and helps you manage risks.
Beema1 offers a variety of insurance policies, including car insurance, bike insurance, term insurance, and health insurance.
Insurance is a service that protects against financial losses in case of unexpected events.
To create an account on Beema1, visit the website and click the 'Sign Up' button. Then, follow the instructions to provide your details and create a password.
Some common types of insurance include health, car, home, bike, property, life, and travel insurance.
Insurance is a legal contract between the policyholder and the insurance provider. The insurance policy contains all the details about the features, guidelines, and conditions under which the insurer will pay out the amount of insurance to the policyholder or their nominee in case any unfortunate event occurs. Insurance is a financial tool that helps you with financial coverage, ensuring financial protection for you and your family. The person who purchases the policy is known as the policyholder, who pays the premiums for the coverage available under the insurance policy. Any individual can avail of an insurance policy from any insurance company. Beema1 helps you compare and buy insurance plans through our online platform.
Some benefits of having insurance include protection against financial losses, peace of mind, and the ability to manage risks.
Everyone needs insurance, as unforeseen situations, circumstances, and events can happen to anyone at any time. Insurance offers financial security and helps you tackle risks, no matter whatever your situation is .
The first step in purchasing an insurance policy is researching different policies and checking their details to see which one meets your expectations.
You can determine the type of insurance policy you need by considering your risks and needs. For example, if you own a car, you may need car insurance, while if you have a family, you may need life insurance.