Car insurance is for every car owner who wants to live without the burden of financial instability. You can get a new car insurance policy online. Gone are the days when insurance agents visited you and filled you with irrelevant and unnecessary information. We will discuss car insurance, so you save time and get the best car insurance policy for yourself.

Car insurance is a legal contract between the insurer and the insured that makes the insurance company liable to cover any damages to your car in case of an unfortunate event. Third-party Car insurance is mandatory in India under the Motor Vehicles Act, 1988.

A car insurance policy works as a cover for your car and the family. The government of India has made it compulsory for all car owners to have a car insurance policy. This is the best solution to ensure the financial liability of an accident or calamity.
Importance of Car Insurance:

Car insurance is a must, and its significance is paramount. Accidents may or may not occur, but having a car insurance policy alleviates the stress of being in an unusual circumstance. Here are some facts that will demonstrate the significance of purchasing car insurance.

In the case of demise, the family receives compensation

This terrible occurrence may strain your family. However, car insurance also covers your family members, allowing them to go about their lives with fewer financial concerns.
Legally Safe

A car insurance coverage protects you from the legal ramifications of any catastrophe. The car insurance provider will cover the expenditures and legal difficulties.
Personal Accident Cover

One benefit of car insurance is that you can get a pre-determined sum from the insurance provider in the event of a personal accident. Passengers will also receive the coverage specified in the car insurance.
Lower Liability

If you are involved in an accident and damage someone's car or the person himself, having car insurance reduces your financial load. Thus, car insurance lowers the liability. The car insurance companies offer third-party car insurance to ensure that your expenses are covered.

There are three types of cover damages, and individuals choose to buy new car insurance based on their preferences. So, let us look at India’s different sorts of car insurance.
01
Comprehensive Car Insurance

When discussing comprehensive car insurance in motor insurance for private cars, you will be completely protected in the event of any loss or damage. This four-wheeler insurance is the most preferred plan out there. When you compare comprehensive car insurance to third-party vehicle insurance, it’s clear that comprehensive is the better option.
02
Third-Party Car Insurance

A new car owner must get third-party car insurance under the Motor Vehicles Act of 1988. It is a type of car insurance coverage that protects you financially in the event of an accident on the road.
03
Own Damage Car Insurance

Own damage car insurance covers natural disasters such as earthquakes, hurricanes, floods, riots, terror attacks, etc. In the early stages, the premium will be high, but it will reduce after some time.

Key Features of Buying Car Insurance

With huge benefits, car insurance takes you to a safe zone. Even though there are different types of car insurance to choose from, having one is mandatory under the motor vehicles act 1988. Let’s have some insight into the key features of buying car insurance.
01
Safety Net

A car insurance works as a safety net for a person who’s the owner of the car and the one who gets injured, as the insurance company will pay for the damages per the insurance policy.
02
No Claim Bonus

One of the best features of an insurance policy is NCB. If you drive safely till the end of your insurance policy term, your insurance company will give you No Claim Bonus (NCB), making your policy more affordable.
03
Hassle-free Process

You can now buy a car insurance policy online because of significant technological advancements. It is an easy, affordable, and fast way to buy an insurance policy.
04
Legally Safe

A car insurance policy keeps you legally safe in case of any mishap. Otherwise, you will have a huge fine and might go to jail.
05
Personal Accident Coverage

Anything can go beyond your control when you are on the road. So, a car insurance policy provides security in bad times by covering your accident expenses.

Benefits of Buying Car Insurance Policy Online

Buying car insurance online has many benefits. The online service has changed the way we buy insurance. So, let us examine the benefits of buying a car insurance plan online.
01
Paperless Transactions

When buying a car insurance policy online, you can download all the documents from the website. It is an easy, fast, and convenient way of doing business.
02
Saves Time

“Time is Money”. Buying a car insurance policy is a lengthy process, buying it online saves a lot of time, that too, in the comfort of your home.
03
Timely Reminders

It’s always hard to track payments, especially in the insurance. When you buy car insurance with RenewBuy, we will give you timely reminders that will make it easy. Now, you won’t lose on the renewal bonus.
04
Easy Comparison

Comparisons help you to buy the best car insurance policy. Searching for car insurance plans online provides a detailed comparison and helps you choose the best car insurance policy.
05
Online Payment of Premium

Online medium allows you to pay your four-wheeler policy premium via debit cards, credit cards, etc., making it a contactless transaction. Since the Covid-19 pandemic, Prime Minister Narendra Modi has also promoted digital India to make contactless payments. So, it is the good and the right way of doing business.