What is Comprehensive Car Insurance?

Insurance premiums for modified cars are higher compared to regular car insurance. It is because modifications can increase the risk of theft or efficiency of your vehicle. For instance, if you fit your vehicle with a turbo engine, while your car's speed would go up, it would also mean a higher risk of getting into an accident. Your insurance provider considers all these probabilities, and your premium amount increases as you modify your vehicle. On the other hand, if you install parking sensors in your car, the premium would decrease as the risk of you smashing your vehicle while reversing reduces.

According to Motor Vehicles Act, 1988, you must transfer the existing insurance policy to the car's new owner as the seller within 14 days of the sale. An important part of an exchange or buying-selling of cars is the exchange or transfer of insurance policy from the previous to the next owner. You purchase insurance to secure your car financially from unforeseen risks. There is no point in keeping a car insurance policy if you don't have a car. Hence you must ensure you transfer the insurance policy in the new car owner's name. If you purchase a car from someone else, ensure the policy is transferred to your name.

It is not mandatory to purchase comprehensive car insurance. As per Motor Vehicles Act of 1988, it is compulsory to buy third party cover. However, with comprehensive insurance you get coverage for own damage and third party liabilities, whereas with third party insurance the insurer will only bear financial burden for third party losses.

You can renew your comprehensive car insurance policy anytime online. Insurance providers like HDFC Ergo provide comprehensive car insurance policies.
It is a very easy process to renew your comprehensive car insurance policy online. Just go to the HDFC Ergo website, fill in your details and renew your comprehensive car insurance policy online in minutes.

The most common documents required for raising comprehensive car insurance claim under any scenarios are FIR report, vehicle’s registration certificate, driving license, car insurance copy, claim form. In case of theft RTO’s theft declaration and subrogation letter is required. For third party claim, you will have to submit claim form along with insurance copy, FIR and copy of RC & Driving License.

Comprehensive car insurance policy is advisable for new car owners, people who go on constant road trips and metropolitan city car owners.

The validity of Comprehensive Car Insurance is usually one year. However, if you opt for a long-term policy, coverage will extend based on the number of years you opt while purchasing the policy.

You can transfer your NCB benefit from one insurance company to another without losing NCB benefit. NCB will remain valid if your insurance company changes and the benefit of NCB can be used with your new insurer. However, No claim bonus (NCB) gets lapsed, if you do no renew policy within 90 days of its expiry.

The primary distinction between third party and comprehensive insurance is the type of coverage provided. Comprehensive car insurance covers your own damages and third party losses, whereas third party insurance only covers third party liabilities. In India having at least basic third party insurance is a legal requirement as per the Motor Vehicles Act of 1988. Failure to have one may result in fines.

Yes, you can shift your car insurance plan from a third party liability to a comprehensive car insurance policy. With comprehensive car insurance policy you get coverage for your own car's damages and losses caused by unforeseen events such as accidents, collisions, monsoon floods, fires, and so on. A comprehensive car insurance policy eliminates the need to purchase a separate personal accident policy because it covers everything. Note: If you already have a third -party liability policy, you can also get a separate standalone own damage policy to cover your vehicle’s own damage.

You can reduce car insurance premium by installing anti theft devices, increasing the deductibles, accumulating no claim bonus benefits by avoid raising unnecessary claims. Lastly, you should avoid making any modification to your vehicle as it will increase your premium.

You can calculate secondhand car insurance premium by visiting HDFC ERGO website. You can make use of our car insurance premium calculator. You can also visit our car insurance page, enter your vehicle’s registration number, previous policy details, choose plan from comprehensive, third party and own damage cover. Select or remove add-ons if you purchase comprehensive or won damage cover. Click on submit button, you can then view your secondhand car insurance premium.

Yes, comprehensive car insurance cover natural disasters. In case you have suffered damages from natural calamities, you need to Gather photographic evidence of the damage caused. Document all evidence clearly to submit it to the insurance company.With the evidence in hand, contact your insurer immediately to file a claim. It is advisable to take immediate action as multiple policyholders may do the same. Be patient. In a natural disaster, there may be multiple people whose claims would be worked on.

The policy period for comprehensive car insurance is generally for a year unless you have opted for a multi-year policy (3 years). The Insurance Regulatory and Development Authority of India (IRDAI) has authorised general insurance companies to issue a multi-year or long-term car insurance policy for up to 3 years in car insurance.

In India, comprehensive car insurance can be categorised on the basis of policy period. You can get an annual comprehensive car insurance policy or opt for a long-term plan, which has a tenure of 3 or 5 years. For new cars, you can opt for bundled long-term car insurance, where the own damage component is annual while the third-party component is multi-year.

No. Comprehensive car insurance is a type of car insurance policy, while bumper-to-bumper, also called zero depreciation cover, is an add-on that you can pick with your comprehensive or standalone OD car insurance plans.

Yes. You can buy comprehensive car insurance in India for your 15-year-old car. However, first, you have to check with the insurer whether they offer such plans for old cars. Also, note that coverage and premiums in this case will vary across providers.

Comprehensive car insurance costs more than a third-party or a standalone OD policy due to its exhaustive coverage. The exact cost of comprehensive car insurance varies depending on several factors, such as the make, model & variant of the vehicle, age of the vehicle, registration location of the vehicle, choice of add-ons, selected IDV, etc.

Generally, if the damage to the car’s engine comes within the policy provisions, then the plan will cover it. However, in the case of a car engine failure due to your negligence or usage-related wear and tear, the policy will not cover it. Also, the policy will not cover mechanical failure of your car’s engine. It is recommended to get the engine and gearbox protection add-on with comprehensive car insurance for added safety.

Yes. You can easily convert your car’s coverage from third-party to comprehensive during renewal. You can also contact the insurer to explore available options to upgrade the policy by modifying the existing plan.

When buying comprehensive car insurance, there are some things you need to do to find the ideal plan. For instance, compare plans across multiple providers online to find the most suitable option for your needs. You can compare plans on the basis of inclusions, exclusions, claim settlement process, insurer’s CSR, availability of cashless garages, etc.

Yes. Comprehensive car insurance does cover accidental scratches suffered by the insured car as per policy provisions.

First-party car insurance refers to a standalone own damage policy. It only offers coverage for damages/losses sustained by the insured car due to perils like accidents, fire, theft, floods, etc. On the other hand, comprehensive car insurance is a policy that covers third-party damages and the insured vehicle’s own damages. So, in a way, comprehensive car insurance is a bundled plan that includes first-party and third-party damage cover.

The comprehensive car insurance plan covers all the basic parts of the insured vehicle. You can check the policy wordings for a detailed insight. However, there are certain things that the plan doesn’t cover. For example, the policy doesn’t cover the cost of consumable items. So, you can invest in applicable add-ons to ensure coverage for parts that the standard plan doesn’t include.

First of all, you need to contact the insurer for claim intimation. Once your claim is filed, your car will be assessed by a registered surveyor for damages and an estimate of cost. You will also have to submit the necessary documents for this insurance claim. Once your claim request is evaluated and approved, the insurer will settle it directly with the partnered garage for cashless repairs or with you in case of a reimbursement.

You need to have a valid car insurance with at least third-party coverage to legally drive a car on public roads in India. So, yes, you can drive a car without comprehensive insurance as long as it is insured with a valid third-party car insurance. However, investing in comprehensive car insurance is highly recommended as it comes with own damage cover and the mandatory third-party cover.

The cost of comprehensive car insurance varies in India as a lot of factors affect its premium. For a general overview, the average per-year cost of comprehensive car insurance can be INR 10,000-15,000 for a hatchback, INR 12,000-20,000 for a sedan, INR 20,000-30,000 for an SUV and INR 50,000+ for luxury cars.