Auto Insurance India
In recent years in India there is a boom in the
automobile sector with high end growth rate and MNC's streaming
into the country. But due to this and acute traffic quandary
the number of auto accidents are also soaring. So the desirability
of the auto cheap insurance has accelerated. Auto insurance
is obligatory for all new vehicles be it for money-making
or personal use.
Auto Insurance Companies are coming out with wide-ranging policies for its customers. And to encourage the customers to take at least low cost car insurance or cheapest car insurance the insurer companies are proffering varied discount car insurance and cheap car insurance online. They are also tying up with foremost automobile manufacturers for a speedy insurance procedure. An automobile may be insured against loss or harm by accident, fire, theft, while in transit, third party accident etc. Auto insurance companies come out with only one of its kind plans for four wheelers, two wheelers, commercial vehicles.
Types of Auto Insurance Available:
Two Wheeler Insurance
Car/ bike Insurance package
Commercial cheap auto Insurance package
Bike insurance
Scooter insurance
Calculation of Auto Insurance Amount/Premium:
Insurance companies are providing value- added service to its client by offering them on the spot auto quotes. Auto premium is calculated by a number of factors like, make of the vehicle, year of manufacture, place of registration, present showroom price of the vehicle and model of the vehicle. It also leans on whether the customer is individual or corporate house etc. The sum of auto/ car insurance premium swells with the raise in the price of the vehicle. Companies renew policies after they have expired. A discount on premium is sometimes provided to on hand customers. To facilitate all the system online car insurance and online auto insurances are provided to the clients.
Auto Insurance Claim process:
- Auto insurance claims can be accidental,
theft claims or third party claims.
- Insured should write the number of the
other car in case of an accident or third party claim
- Names of onlooker should also be written
down
- File an FIR with the closest police station
- Insured should then contact the insurance
company and obtain a claim number
- An inspector is allotted who reports
the approximate value of loss or damage
- Based on the report of the surveyor,
insurance companies endeavor to send the amount to the insured
within one to three weeks
- An individual might have to pay the repair
charges himself and later get it compensate
Documents necessary for Auto Insurance
Claim:
- For Accident Claims
- Claim form suitably signed
- RC replica of the vehicle
- Driving license replica
- Police report
- Original repair invoice, payment reception
from the service center
For Third Party Claims:
- Claim form accordingly signed
- Police FIR replica
- Driving license replica
- RC replica of the vehicle
List of Some of Insurance Companies proffering
Auto Insurance:
- HSBC India - Auto Security
- Bajaj Allianz - Bajaj Allianz's Motor
vehicles Insurance
- ICICI Lombard - Heavy auto Plans
- United India Insurance - Motor insurance
Package and Liability Only Policies
- The New India Assurance- Motor Policy
So with a view to avoid any unforeseen circumstances one must budget car insurance and avail of the affordable car insurance at least.
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