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Home / Car Insurance / New Car Insurance

Is it possible to buy insurance for a new car in India before it is registered at the Regional Transport Office (RTO)? The answer is yes. This is possible with ‘Brand New Car Insurance.’ Read ahead to know how to insure your brand-new car quickly, easily, and conveniently.

What is ‘Brand New Car Insurance’?

Thanks to ‘Brand New Car Insurance’ you can insure your new vehicle even before it is registered at a Regional Transport Office (RTO). Usually, brand-new cars are insured by the car dealer. This feels like a convenient process as the car dealer takes the responsibility of getting the vehicle registered at the RTO as well as insuring it. However, insuring your brand-new car from the car dealer is not your only option. There’s a better way — online car insurance.

You can simply visit ACKO’s website or use the ACKO app to insure your brand-new car within minutes at an affordable price. You also have the option to customise the policy with a wide variety of add-ons and choose from multiple plans such as a Standard Comprehensive Policy or a Zero Depreciation Standard Policy (Bumper to Bumper Insurance Plan) while buying new car insurance online.

How to buy car insurance for new cars online?

Here’s the step-by-step process to buy new car insurance online via ACKO’s website. You can scroll up on this page to the car insurance widget and initiate the following process.

Available car insurance plans for new cars in India

If you are looking for types of car insurance for new cars, then you have at least two options to choose from. Your new car insurance price will depend upon the chosen option. Have a look.

Third-party Car Insurance

This is a must-have policy in India as per the law. A Third-party Car Insurance Policy covers you against third-party liabilities. Injuries to third parties (death included) and damages to their property are covered in this plan. As per (new car insurance rules 2020) the Insurance Regulatory and Development Authority of India (IRDAI), brand-new cars must be insured with this policy straightaway for three years (three-year plan). Note that damages to your car are not covered under this plan as this is a basic cover.

Comprehensive Car Insurance

Buying this policy is not a legal requirement. However, it is suggested to opt for a Comprehensive Policy, especially while looking for new car insurance online, due to its significant advantages over the basic plan. A Comprehensive Policy includes mandatory insurance coverage. It also insures your car in case of damages (calamities, accidents, etc.) and theft. With this cover, you also get the chance to enhance your coverage with the help of suitable add-ons such as Zero Depreciation, Roadside Assistance, etc.

Benefits of buying new car insurance online

Insuring your brand-new car online instead of depending upon the car dealer can work in your favour. Here’s how this option can be beneficial for you.

Suitable choice

If you buy car insurance online, you can compare policies easily and insure your car with a suitable policy of your choice. There’s no such choice in case of dealer-offered insurance.

Save money

Usually, dealer-insurer tie-ups include agent commission and can result in a hike in the final price of the policy. Skip the dealer route to go online and save money spent on commission.

Stay informed

You can make informed decisions while insuring your car online by going through the policy features, coverages, and exclusions. Car insurance is not a one-time affair; the more you know about it, the better it is in the long run.

Why choose ACKO for insuring a new car?

Here’s why ACKO should be your numero uno choice when it comes to insuring a new car.

Low premium policy

ACKO is a digital insurance company. Here, insurance-related processes are tech-based, paperless, and quick, resulting in low operational costs. This, coupled with a Zero Commission model, ensures savings that are passed on to you in the form of low premium rates.

No-trouble claims

ACKO’s door-to-door claims service reduces your stress and increases your convenience. Simply call 1800 266 2256 (toll-free), and your damaged car shall be picked, repaired, and delivered in three days (terms and conditions apply). 

Customised plans

Insure your car with customised plans to ensure maximum insurance coverage as per your needs. Avail of attractive discounts without compromising on the services. You can also check out the free new car insurance quote for your car on ACKO’s website/app and insure your car now!

New car insurance price

Money spent on new car insurance premium might seem like an additional expense. However, if spent correctly, it can help you save a lot of money in the future.

Factors driving price

The higher the coverage, the higher the new car insurance cost. Insurance charges for a new car will be high because the car’s Insured Declared Value (IDV), understood as the car’s approximate current market price, is high. With time, the IDV reduces, and so does the corresponding payable premium.

Premium-benefit equation

Since your new car is a costly asset, it’s best to insure it extensively to avoid financial loss in case of a mishap. Insuring your car  by paying a fraction of the bill is always a better option than paying a hefty garage bill.

Frequently asked questions

Here are some common questions regarding new car insurance.

Is buying new car insurance compulsory for seasoned drivers as well?

Whether you are a first-time driver or a seasoned driver, it is mandatory to insure your four-wheeler with a Third-party Insurance Plan as per The Motor Vehicles Act. If it is a new car, a new policy should be purchased and renewed before its expiry.

I already own a car, and I am thinking of purchasing a new one. Can both cars be insured by two different insurance companies?

Yes, your cars can be insured by two different insurance companies.

Do I need to buy a Third-party Policy for three years and Own Damage cover for three years, or is there another option for a new car? Please clarify whether I should buy new car insurance for how many years?

For new cars, it is mandatory to buy Third-party Policy for three years. However, there is no such compulsion for an Own Damage Cover. Therefore, you can buy a Comprehensive Policy that offers a Third-party Policy for three years and Own Damage coverage for one year. Note that these rules regarding the new car insurance time period are subject to changes, so please check out the available options when you buy new car insurance.

How do you get insurance for a new car if the car does not have a number plate yet?

Insuring a new car without a number plate can be possible if you directly buy insurance from the insurer (ACKO). You need to look out for the online purchase journey for insuring a brand-new car on the website/app to insure to-be registered cars. You can get a free new car insurance quote by scrolling to the top of this page to the car insurance widget and following the process.

What is the recommended insurance coverage for a new car?

The recommended insurance coverage for a new car is a long-term Third-party Policy, coupled with wide-ranging Own Damage coverage and suitable add-ons. Zero Depreciation, Roadside Assistance, Engine Protection, Return to Invoice and No Claim Bonus add-ons are a good choice. Ideally, the best insurance policy for a new car is the one that meets your insurance needs, offers extensive coverage, and top-notch services at a low premium.

Is new car insurance higher than that for an older car?

The direct answer is, yes, it is. However, there are several factors at play here. If you opt for lower coverage while insuring a new car and choose higher coverage for insuring an older car, then the insurance premium for the latter can be higher.

How to insure a new car on weekends or on a public holiday?

You can insure your new car 24x7 for 365 days via ACKO’s website/app.

Do I need to buy temporary insurance for a new car or permanent insurance?

You need to make sure that your car is insured all the time while you are driving it on Indian public roads. Hence, you need to keep renewing your policy before its expiry date. Therefore, temporary insurance won’t work.

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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