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Home / Car Insurance / Compare Car Insurance Online

Why compare car insurance online?

When you buy insurance for your car, you would want to get the insurance that is high on benefits and low on costs. Hence, you would want to compare different policies, understand their features, pricing and suitability. You can compare insurance via the online and offline method. However, comparing insurance policies online is a quick, hassle-free and convenient way to find a policy that meets your requirements. Here are a few benefits of comparing car insurance policies online.

Value for money

Comparing car insurance policies based on their cost will help you understand if the policy fits your budget. Third-party policy costs less as compared to a Comprehensive plan. However, it also offers less coverage as compared to a Comprehensive policy. When you buy a Comprehensive plan, you can get an additional layer of coverage by selecting add-ons such as Zero Depreciation Cover, Roadside Assistance Cover, Consumables Cover, etc.

 

 

 

Coverage options

Comparing policies will help you understand the features of a policy that might give the most suitable coverage. A Third-party car insurance policy offers the least amount of coverage as compared to a Comprehensive policy powered by the Zero Depreciation add-on. The comparison will give you a clear idea of the coverage offered by each type of car insurance policy.

 

 

 

Better services

Comparing car insurance will give you an idea about the services offered on each plan. It is important to consider after-sales services provided by different insurers. For example, ACKO provides a bunch of additional services such as 1-hour pickup of the damaged vehicle in select cities, quick repairs at network garages and 3-day free doorstep delivery.

Comparing types of car insurance policies

Third-party Car Insurance

A Third-party policy offers less coverage as compared to a Comprehensive policy. It only covers you against any damage caused to someone else’s property/vehicle or injuries to someone while driving your insured car. However, you cannot raise a claim for damage caused to your car. Buying a Third-party car insurance policy is mandatory under The Motor Vehicles Act, 1988.

Comprehensive Car Insurance

Compared to a Third-party policy, a Comprehensive policy will cover for damages/injuries to third-party as well as Own Damages as well. This means a Comprehensive cover will cover damages to your car in case of an accident, fire, natural calamities, man-made calamities and theft.

Important factors used to compare car insurance policies

Before you begin with comparing policies, you need to understand the factors based on which you can compare different policies.

Price

Replacing or repairing a car can prove to be an expensive affair. Even though the cost is the major factor, do not compromise on the features of the policy. Look around for the prices offered by different insurers. But, also keep in mind the covers that you need. Pick a policy that suits your requirements and pocket both.

Coverage

Apart from the basic coverage, look out for add-ons such as Zero Depreciation, Return To Invoice, Roadside Assistance, etc. You must understand your driving habits well before buying an insurance policy.

Customer reviews

You do not want to spend money on an insurance policy and still be left uncovered during difficult times. So, it is important to go through the customer reviews and also learn about the claim settlement ratio. Also, dedicating some time for research on the after-sales services provided by the company may be beneficial.

Your car’s age

The Insured Declared Value or IDV depends on your car’s market value. However, the value of your car reduces every year due to wear and tear. So, the older a car is, the lower is its value. This can lower your premium and the sum assured. However, age also makes a car riskier and more susceptible to damages. Car insurance companies often check your car’s health while deciding the premium.

Exclusions & invalid claims

It is always a good practice to understand what is covered and what is not covered under your car insurance policy. Going through the terms and conditions, policy wording, and fine-print while buying a policy will help you reduce the chances of rejection or invalid claims.

Add-ons in car insurance policy

Add-ons are additional coverage options that will enhance the scope of a comprehensive car insurance policy.

Zero Depreciation Cover

While settling claims, the insurance company will consider the depreciation of the car. However, when you buy this add-on cover, the insurance company will not consider depreciation and you can enjoy a higher claim settlement value.

Engine Protection Cover

Normally, insurance companies don't cover costs related to damages to your engine. With Engine Protection add-on cover, you can get compensation in case of damages to your car's engine.

Key Replacement Cover

With Key Replacement Cover, you can safeguard yourself from expenses related to replacing a lost, stolen, or damaged key and even a replaced lock also if required.

Outstation Emergency Cover

Outstation Emergency Cover covers you in case your car breaks down or gets involved in an accident outside a 100 km radius of your home.

Consumables Cover

Consumables such as engine oil, lubricants, nut, and bolt, etc. are not covered during claims. Consumables Cover add-on protects you from expenses incurred on these items during an accident.

Roadside Assistance Cover

With Roadside Assistance add-on cover, you can get access to 24*7 emergency roadside assistance such as towing services, battery jumpstart, on-spot repairs, etc. in case of car breakdowns.

No Claim Bonus Protection

When you raise a claim, you lose out on the No Claim Bonus (NCB) Discount. However, with NCB Protection, your discount will still remain intact even while you raise a claim.

Return to Invoice Cover

When you buy Return to Invoice Cover, you can claim the entire amount mentioned on the car's invoice in case of theft or damage beyond repair.

Personal Accident Cover for Passengers

Personal Accident Cover for Passengers protects your loved ones in case of accidents causing permanent disability/death.

Car insurance comparison

The below table highlights the key features of Third-party car insurance, Comprehensive car insurance and Comprehensive + Zero Depreciation insurance.

Car Insurance Features Third Party Comprehensive Comprehensive + Zero Depreciation
Damage to a third-party vehicle
Own Damage
Theft
Damage due to fire
Damage due to natural causes
Personal Accident cover (Mandatory by the law) Optional extra coverage Optional extra coverage Optional extra coverage
Zero Depreciation
Engine Protection Optional Add-on Optional Add-on
Roadside Assistance Optional Add-on Optional Add-on
Consumables Cover Optional Add-on Optional Add-on
Outstation Emergency Cover Optional Add-on Optional Add-on
Key Replacement Cover Optional Add-on Optional Add-on
Buy Now Buy Now Buy Now

Benefits of Comparing Car Insurance Online

When it comes to buying car insurance policies, you have lots of choices. There are more than a dozen insurance companies offering car insurance online. As such, you have a choice of multiple car insurance policies to buy from. How then do you choose the best car insurance policy for your car? The answer is simple, through car insurance comparison. Out of the numerous car insurance policies available, you can choose the best plan when you compare car insurance policies online before buying. Since insurance companies offer car insurance online, comparing also becomes easier and convenient.

1. You can choose a policy with the best coverage benefits

The coverage benefits in almost all car insurance plans are primarily similar. However, besides the common coverage benefits, different policies offer different value-added benefits to attract customers. In some policies you can find inbuilt add-ons while in others you can find free towing facility or another unique coverage benefit. These value add-ons increase the scope of coverage and make the policy better than the others. When you compare, you can find out which policies offer additional coverage benefits and can therefore opt for a comprehensive policy.

2. You can save on the premium costs

Every car insurance policy is priced differently. To find the policy which has the lowest premium rate without compromising on the coverage, comparing is essential. When you compare you can see the premiums charged by the different policies vis-à-vis their coverage benefits and then choose the best deal.

3. You can make your claim settlements easier

Car insurance comparison also enables you to simplify your claim settlements. You can compare the number of cashless garages tied-up with the insurance company to choose the company with the widest network of garages. You can also compare the claim settlement ratio of different insurers and choose a company with a higher ratio to increase your chances of claim settlements. Lastly, you can compare the claim settlement process of various insurers and choose a company with the easiest claim process. All these factors would ensure an easy and speedy claim settlement.

4. You can shop for discounts

Did you know car insurance policies offered different premium discounts? Yes, there are discounts for being a member of a reputed automobile association, installing safety devices in your car, buying the policy online, etc. All these discounts lower the premium payable. The rate of these discounts varies across companies and if you want to shop for the highest possible rates, comparing of car insurance policies is the only way.

5. Most convenient insurance experiences

Digital insurers have changed the way the insurance industry functions. Nowadays, there is a lot of convenience involved in the insurance experience. Unlike few years ago, you can purchase a policy without any physical documentation. Digital insurers have made the insurance experience simple, easy, and convenient. Thus, when you compare car insurance policies, you can have a look at the policies offered by new-age insurers for a hassle-free insurance experience.

Frequently asked questions

Common queries related to comparing car insurance policies online

How to effectively compare car insurance policies?

To effectively compare car insurance quotes and save money, the best way is to do the comparison online. This way you can easily compare various features and prices of different car insurance policies. You can also use a car insurance premium calculator to know the approximate cost of your policy.

What are the benefits of comparing car insurance online?

Comparing car insurance online gives you the benefit of reviewing the price and features of different insurance policies. By comparing various policies online, you can find the best car insurance policy that is suitable for your requirements. The best car insurance policy is the one that fits your budget, offers extensive coverage, and useful services.

You will also save time on requesting quotes from different insurers/agents. You can compare car insurance by yourself without waiting for your agent to send the quotes or to explain the features of each policy you wish to compare. Plus, you can make an unbiased and informed decision without getting swathed by some else's opinion while buying a car insurance policy.

How can car insurance comparison help save money on your car insurance premium amount?

Comparing car insurance policies will help you find a better deal on car insurance. It will not only help you save money but also find better coverage that suits your needs. Thus, comparing car insurance is an important step while buying or renewing your car insurance policy.

Car insurance related FAQs

What is the importance of IDV while purchasing insurance for your car?

IDV stands for Insured Declared Value. It is the approximate current market value of your car. As IDV forms the base of a car insurance policy, the premium amount will be determined based on this value. Thus, it is important that you set the same amount of IDV for each type of car insurance policy while comparing them.

What are the different types of vehicles that can be insured online?

Currently, ACKO offers insurance for private cars and bikes on the website. The process is very easy and you can get your private car or bike insured within a few minutes. To buy or renew a vehicle insurance policy, you can visit our website or download the official app. Please get in touch with us at 1800-266-2256 (toll-free) / 1860-266-2256 (chargeable) or drop an email at [email protected] to know the details.

CIN: U66000KA2016PLC138288

IRDAI Registration No: 157

Category: Non-Life Insurance

The use of images and brands are only for the purpose of indication and illustration. ACKO claims no rights on the IP rights of any third parties. The ratings are derived from reviews and feedback received from Google and Facebook users on their respective platforms. | *Savings of upto Rs. 50,000 have been calculated on the IDV of Rs. 18,00,000 and 0% NCB. Amount saved is in comparison to tariff rates. Product name: Private Car Policy - Bundled | UIN: IRDAN157RP0014V01201819 |

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