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BMW 7 Series Sedan Car Insurance

Know how to buy/renew BMW 7 Series Sedan Car Insurance

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BMW 7 Series Sedan

Home / Car Insurance / BMW Car Insurance / BMW 7 Series Sedan Car Insurance

The BMW 7 Series is the epitome of luxury and performance. However, owning this majestic vehicle comes with the responsibility of protecting it at all times. One of the most important things is buying comprehensive car insurance for your BMW 7 Series.

Let's look at why you need 7 Series insurance, the common policy types, coverage details, the benefits of choosing an insurer and more.

Why Should You Buy Car Insurance For The BMW 7 Series?
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It is mandatory by law for all vehicles plying on Indian roads to have valid car insurance. Driving without insurance can lead to fines, penalties and even imprisonment.

Financial Security
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Car insurance protects you from heavy financial losses in case of accidents, theft, riots, natural disasters etc. It provides coverage for repairs and total loss.

Liability Coverage
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Your policy will provide third-party liability coverage as per law. This covers injury or damage caused to a third party due to an accident involving your 7 Series.

Additional Covers
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Comprehensive plans provide additional benefits like roadside assistance, hospital cash cover, accessories cover etc., based on your needs.

The Most Common Types Of Car Insurance For BMW 7 Series
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Third-Party Liability Insurance
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This is the basic legal requirement for all vehicles as per the Motor Vehicles Act. This plan only covers bodily injury or property damage caused to a third party due to an accident involving your BMW 7 Series. However, any damage to your own BMW 7 Series will not be covered under this plan. It is advisable to opt for at least a Third Party Liability cover if you have a limited budget.

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Comprehensive Insurance
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This is the most comprehensive and popular car insurance policy opted for by most car owners. Under this plan, third-party liability, as mandated under the law, is covered. Additionally, it also covers damages to your own BMW 7 Series arising out of accidents, collisions, theft, malicious acts, natural disasters like floods or earthquakes, fire, explosion etc. While it costs more than just a third-party car insurance plan, it is highly recommended for high-value cars like the BMW 7 Series.

What is Covered

What is Not Covered

What Is Covered In BMW 7 Series Car Insurance?
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A comprehensive car insurance policy for your BMW 7 Series typically includes:

  1. Third-party injury and death.

  2. Third-party property damage.

  3. Own damage cover for cars due to accidents, theft, vandalism, etc.

  4. Cover for damage due to man-made causes - riots, strikes, etc.

  5. Cover for damage due to natural disasters - cyclones, floods, earthquakes, etc.

What Is Not Covered By BMW 7 Series Car Insurance?
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There are certain limitations to the insurance coverage. These exclusions include:

  1. General aging, wear and tear of parts.

  2. Mechanical or electrical breakdown.

  3. Damage caused by driving without a valid license.

  4. Damage outside geographical limits.

  5. Damage caused while under the influence of alcohol.

  6. Losses arising from any consequential circumstance - depreciation, loss of use etc.

Add-ons for BMW 7 Series Car Insurance
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Some useful add-ons that enhance your coverage are:

Zero Depreciation Cover
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This add-on waives off any zero depreciation that would be applied on parts during claims processing. It reduces your out-of-pocket expenses significantly.

NCB Protector
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This ensures your No Claim Bonus discount is not impacted even if you make a claim during the policy tenure. Your NCB stays intact for renewals.

Engine Protector
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It provides coverage for critical engine parts like pistons, connecting rods, crankshaft etc., against any damage. This is useful for older cars.

Key Replacement
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This add-on pays for replacing your car keys and door locks if your car keys are lost or stolen. It covers the high costs of key replacements in high-end cars.

Roadside Assistance
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This provides complete assistance in case of car breakdown or flat tyre through a dedicated helpline. It covers the costs of repairs at the spot or towing to the nearest garage.

Consumable Cover
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This pays for the fluids, oils, coolants etc., that may be needed while repairing your car after an accident. It takes care of miscellaneous expenses.

Please note that the addons will be offered as available. 

Benefits Of Buying Car Insurance For Your BMW 7 Series
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  1. Zero Paperwork: Fully digital process allows you to buy/renew online in minutes

  2. Competitive Rates: Without agent commissions, their rates are super competitive

  3. Add-on Covers: Choose from a range of add-on covers as per your needs

  4. Express Claims: Get your car insurance claims processed in a few days

  5. Spot Assistance: Onsite support for minor repairs, flat tyres etc.

  6. Cashless Garages: Hassle-free repairs at partner garages across India

How To Buy/Renew BMW 7 Series Insurance
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Below are the steps to buy or renew BMW 7 Series insurance online:

  1. Visit the insurer’s website or download the app

  2. Enter the car registration number and click on "Check Prices"

  3. Select plan, coverage and add-ons as required

  4. Pay premium online using credit/debit card, UPI, net banking, etc.

  5. Policy copy is emailed instantly on completion

On renewal, enter existing policy details to get renewal quotes.

4 Easy Steps To Raise A Claim
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Top insurers make the claims process quick and convenient:

The entire process is online and completed in no more than 3-7 days!

Conclusion
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The BMW 7 Series demands extensive insurance cover to fully secure your asset. Evaluate all the factors, and add-ons carefully before buying 7 Series insurance. We recommend considering a top insurance company for its incomparable digital experience, express claims and many other benefits. Protect your prized possession with comprehensive coverage at the best price!

Frequently Asked Questions on BMW 7 Series Sedan Car Insurance
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FAQs

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How is the IDV calculated for BMW 7 Series insurance?

The Insured Declared Value (IDV) of your BMW 7 Series is calculated as the current market value of the car after depreciation. It is based on the manufacturer's listed selling price, invoice value, age of the car, model etc.

What is the importance of a No Claim Bonus in car insurance?

The NCB or No Claim Bonus is a discount you earn on your car insurance premium if no claim is made during the policy tenure. It can go up to 50% over claim-free years. Maintaining NCB helps lower renewal premiums.

Can I avail of cashless claims on BMW 7 Series insurance?

Yes, if you opt for comprehensive insurance with an insurer that offers a cashless facility. You can get your BMW 7 Series repaired at any of the authorised service centres without paying out of pocket. The insurance company directly settles the bill.

How do I transfer my BMW 7 Series insurance when selling the car?

You have to fill in Form 29 and Form 30 to transfer the insurance in the name of the new buyer. The forms are available on the insurance provider's website. Transfer of insurance is possible only if the policy is valid on the date of transfer.

What documents are required at the time of claim for BMW 7 Series insurance?

Usually, you'll need a claim form, FIR/ Panchnama, Repair Estimates, Policy Copy, Registration Certificate, Driver's License, KYC Documents etc. Additional documents may be requested based on claim type.

Can I extend my lapsed BMW 7 Series insurance policy?

Yes, lapsed policies can be extended. You can apply for policy renewal by paying late fees along with a premium within 30–90 days post-expiry, depending on the insurer. After this duration, you will have to take a new policy.