Know how to buy/renew BMW 7 Series Sedan Car Insurance
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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.
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.
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.
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.
Comprehensive plans provide additional benefits like roadside assistance, hospital cash cover, accessories cover etc., based on your needs.
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.
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
A comprehensive car insurance policy for your BMW 7 Series typically includes:
Third-party injury and death.
Third-party property damage.
Own damage cover for cars due to accidents, theft, vandalism, etc.
Cover for damage due to man-made causes - riots, strikes, etc.
Cover for damage due to natural disasters - cyclones, floods, earthquakes, etc.
There are certain limitations to the insurance coverage. These exclusions include:
General aging, wear and tear of parts.
Mechanical or electrical breakdown.
Damage caused by driving without a valid license.
Damage outside geographical limits.
Damage caused while under the influence of alcohol.
Losses arising from any consequential circumstance - depreciation, loss of use etc.
Some useful add-ons that enhance your coverage are:
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.
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.
It provides coverage for critical engine parts like pistons, connecting rods, crankshaft etc., against any damage. This is useful for older cars.
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.
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.
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.
Zero Paperwork: Fully digital process allows you to buy/renew online in minutes
Competitive Rates: Without agent commissions, their rates are super competitive
Add-on Covers: Choose from a range of add-on covers as per your needs
Express Claims: Get your car insurance claims processed in a few days
Spot Assistance: Onsite support for minor repairs, flat tyres etc.
Cashless Garages: Hassle-free repairs at partner garages across India
Below are the steps to buy or renew BMW 7 Series insurance online:
Visit the insurer’s website or download the app
Enter the car registration number and click on "Check Prices"
Select plan, coverage and add-ons as required
Pay premium online using credit/debit card, UPI, net banking, etc.
Policy copy is emailed instantly on completion
On renewal, enter existing policy details to get renewal quotes.
Top insurers make the claims process quick and convenient:
Step 1: Intimate claim via call/app/website.
Step 2: Documents & details will be verified over a call
Step 3: Inspection scheduled if required
Step 4: Claim amount credited after approval
The entire process is online and completed in no more than 3-7 days!
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!
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.
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.
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.
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.
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.
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.