Buy/Renew Best Car Insurance Policy Online in Mumbai

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The ‘City of Dreams’ Mumbai or Bombay is one of those cities with the worst road traffic conditions in the world. Due to the congested roads and bad traffic conditions, the importance of car insurance in Mumbai becomes even more. In a city like Mumbai, a car insurance policy will provide financial compensation in case the insured car gets lost, stolen, or damaged in an unforeseen circumstance. Read on to know more about car insurance in Bombay.

Types of Car Insurance Policies in Mumbai

Whether you are in Mumbai or else where in the country, you can buy a suitable car insurance policy with ACKO. Listed below are the different types of car insurance policies available:

1. Third-party Insurance

A third party insurance policy is mandatory to drive your car legally in India. This plan offers financial protection in case your vehicle causes any damage to a third-party.

2. Own Damage (OD) Car Insurance

Unlike a third-party plan, Own Damage Insurance offers financial protection in case there is any damage to your insured vehicle. Whether the damage is due to an accident or any other reason, Own damage car insurance will provide the adequate coverage.

3. Comprehensive Car Insurance

A Comprehensive Insurance plan as the name suggests is ideal to get an all-round coverage for your car in Mumbai. It covers both third-party liabilities and damage to the car, hence its premium is slightly higher.

Why Should You Buy Car Insurance in Mumbai?

Some of the reasons why you need a valid car insurance policy in Mumbai are as follows:

Heavy Traffic and Accident Risk

Mumbai’s dense traffic and narrow roads increase the risk of collisions. But, with a valid car insurance policy, you can get financial protection against accidental damages.

Frequent Monsoons and Flooding

Mumbai rains are famous all over the country. The city faces heavy rains and waterlogging during the rainy season, which can damage vehicles. But, when you have Comprehensive insurance, you will get the relevant coverage against any damage due to weather conditions.

High Vehicle Density

With so many vehicles on the road, the chances of minor accidents, scratches, or dents are high. To avoid such damages to drain your pocket, it is advisable to have a car insurance policy and stay protected.

Theft and Vandalism Protection

Certain areas in Mumbai are prone to car theft. Thus, a vehicle Insurance policy becomes important to offer financial compensation if your vehicle is stolen or damaged maliciously.

Legal Requirement

As per Motor laws, having at least third-party insurance is mandatory to legally drive on Mumbai roads or anywhere else in the country. So, stay compliant and protected against legal penalties.

Financial Protection

Vehicle repairing servicing in Mumbai can be expensive. Car insurance reduces out-of-pocket expenses for repairs after accidents or unforeseen damage.

Inclusions and Exclusions of Car Insurance Policy in Mumbai

The common inclusions and exclusions of a car insurance policy in Mumbai are:

Inclusions:

Coverage for vehicle damage due to accidents
Any damage to the vehicle due to fire outbreaks or natural disasters
Third-party liability coverage
If the insured vehicle is lost or stolen
Personal accident injury

Exclusions:

Damage caused intentionally or due to involvement in illegal activities
Wear and tear, mechanical breakdown, or regular maintenance costs
Damage to personal belongings inside the vehicle
Using the vehicle for commercial purposes
Driving under the influence of alcohol or drugs
Overspeeding the vehicle
Driving a vehicle outside the geographical location mentioned in the policy document

ACKO Car Insurance Add-on Covers in Mumbai

Some of the add-ons that you can include while buying a car insurance policy in Mumbai are as follows:

Roadside Assistance Cover: The Roadside Assistance Cover assists in case you get stranded in the middle of the road and need assistance.
No Claim Bonus Protector: The No Claim Bonus Protector or NCB protects your accumulated No Claim Bonus even after you have raised a claim in a given year. With NCB in your policy, you can get a discount of up to 50% on premium amounts.
Consumables Cover: A car insurance policy typically does not cover consumables like lubricants, nuts and bolts, gearbox oil, etc. However, with this cover, you can get protection even for consumables.
Engine Protection Cover: The Engine Protection Cover protects you financially in case the car’s engine gets damaged in an accident.
Zero Depreciation Cover: With zero dep insurance add-on, you can get the complete claim amount, irrespective of the depreciation costs.
Return to Invoice Cover: The Return to Invoice or RTI covers pays the complete amount based on the original invoice at the time of claim settlement.

Factors Affecting Car Insurance Premiums in Mumbai

Based on the following factors, the car insurance premium in Mumbai is determined:

Type of Vehicle:The vehicle type affects the car insurance premium in Mumbai. Sedan cars have higher premiums as compared to other vehicle type.
Type of Insurance Coverage: Based on your requirement, you can avail different types of insurance coverage. For instance, if you are buying Comprehensive coverage, the premium will be higher.
Driving Record: If the policyholder has a history of accidents, traffic violations, or claims in Mumbai, the premium amount can be higher. So, maintain a clean driving record and save on car insurance premium.
Geographical Location: Premiums may be higher in areas with higher traffic density, crime rates, or severe weather conditions.
Deductibles: Deductibles refers to the amount that the policyholder agrees to pay from their own pocket during the time of claim settlement. Higher deductibles typically result in lower premiums. So, while buying car insurance in Mumbai, you can customise the deductibles accordingly.
Anti-theft Devices: The installation of anti-theft devices helps policyholders get discounts on the premium amount. This is because it reduces the insurer’s liability in settling claims.

How To Buy Car Insurance Online in Mumbai?

Listed below are in which you can buy a car insurance policy in Mumbai,

Go to the top of this page
Enter the vehicle registration number and click on ‘Check Prices’
Provide the vehicle related details
A list of car insurance plans will be visible
Select a suitable car insurance policy along with the necessary add-ons
Enter the personal details like your mobile number, pincode, email address, etc and make the premium payment, after which you will receive the policy details

Car Insurance Renewal Benefits in Mumbai with ACKO

A car insurance policy comes with an expiry date, making it important to renew it on time. Listed below are a few benefits of renewing car insurance policy with ACKO:

Quick Process

The process to renew a car insurance policy with ACKO is quicker and seamless. You just need to enter a few details and get the policy renewed at your fingertips.

Zero Paperwork

There is almost zero paperwork required when it comes to renewing ACKO car insurance. You can submit all the required documents online to complete the renewal process.

Abide by Laws

According to the Motor Vehicles Act of 1988, you need to at least have a third-party insurance policy. Now, in order to avoid paying hefty fines, it is suggested to renew car insurance policy before its expiry date.

How to File a Car Insurance Claim Online at ACKO in Mumbai

Listed below are the steps you need to follow to file a car insurance claim with ACKO Mumbai

Go to the car insurance option on the ACKO app or website
Login with your mobile number
Your car insurance policy will be visible, then click on ‘register claim’
Next, enter the necessary documents like FIR, claim form, etc, and successfully register the claim

Documents Required for Filing a Car Insurance Claim in Mumbai

Listed below are some of the documents required to file a car insurance claim in Mumbai:

Driving license of the policyholder
Registration certificate of car
FIR (if required)
Identification proof of the policyholder
Original repair bills in case of reimbursement claim
Premium payment receipt

How to Download Your Car Insurance Policy Copy in Mumbai

Here is how you can download your car insurance policy in Mumbai:

Go to the car insurance option on the website
Login with your mobile number
Click on the ‘policy document’ and select ‘download’ option
Then, download the policy document and save it for future reference

How to Choose the Best Four-Wheeler Insurance Policy Online in Mumbai

Some of the factors you need to be wary of while buying a four-wheeler insurance policy are as follows:

Assess Your Coverage Needs: Understand your driving habits, vehicle usage, and local conditions in Mumbai. If you reside in waterlogged areas or traffic-heavy zones, you should go for a Comprehensive policy and customise it with add-ons.
Compare Policies Across Insurers: Use online channels to compare premium costs, coverage benefits, claim settlement ratios, and customer reviews of different insurers. This ensures you get maximum value for your money and a reliable provider.
Check Claim Settlement Ratio: Choose an insurer with a high and consistent claim settlement ratio, especially in a city like Mumbai.
Look for Cashless Garage Network: Ensure the insurer has a wide network of cashless garages in Mumbai. This saves time and effort during repairs, especially in emergencies or after monsoon damage.
Explore Relevant Add-ons: Add-on covers like Roadside Assistance, Engine Protection, Zero Depreciation, and Tyre Cover are useful in a city like Mumbai where accidents are so common.
Understand the Policy Terms Clearly: Don’t choose a policy just because it has a lower premium. Read the policy documents carefully, check for exclusions, deductibles, and claim processes to avoid surprises during emergencies.
Select the Right IDV: IDV, or the Insured Declared Value, is the exact market value of your four-wheeler. Hence, declaring the right IDV when buying a car insurance policy is important. The higher the IDV, the higher the premium amount, so selecting the appropriate IDV is very important.
24*7 Customer Support: You should buy a four-wheeler insurance policy in Mumbai from an insurer that offers 24*7 customer support. When you do so, you can stay assured that you will contact the customer support team whenever required.

Frequently Asked Questions (FAQs) about Car Insurance in Mumbai

Here are some common queries and answers about car insurance in Mumbai.

FAQs

What is the cost of car insurance in Mumbai?

The cost of car insurance in Mumbai is dependent on a number of factors such as policy type, policyholder driving habit, vehicle type, geographical location, etc.

What are the different types of car insurance policies available in Mumbai?

The different types of car insurance you can buy in Mumbai include Comprehensive Car Insurance, Third-party Car Insurance, and Standalone Own-damage car insurance.

How can I buy the best car insurance policy in Mumbai?

To buy the best car insurance policy in Mumbai, you should compare all the policies available and buy it with insurers like ACKO.

What factors must I consider while buying a car insurance policy in Mumbai?

Some factors you need to consider to buy the best car insurance policy in Mumbai include claim settlement ratio, inclusions, exclusions, premium amount, type of policy, etc.