Car Insurance

Top 4 insurance pointers every car owner should know about

abhishek — Thu, 02 Sep 2021 06:30:00 GMT

Top 4 insurance pointers every car owner should know about

02-Sep-2021 02-Sep-2021'

In this short piece, readers will get to know about 4 important pointers when it comes to car insurance.

Transferring your policy to another insurer does not affect your NCB

Your No Claim Bonus (NCB) benefits stay even when you shift your policy from one insurance company to another. An NCB is a discount you get for every year you do not make a claim against your motor insurance. NCBs tend to be rather substantial, and it gets accumulated year after year, provided that you do not make a claim.

Although the NCB stays even when you transfer your policy from one provider to another, see to it that you file for it within ninety days of the expiration of your old cover, or else the accrued benefits are no longer applicable.

Comprehensive car insurance covers a lot more than just accidents

That’s right, comprehensive car insurance policies cover non-collision damages, theft of vehicle, and more, in addition to covering your losses in case your car is involved in an accident. With a comprehensive car insurance policy, you will be protected against losses or damage caused to your car from natural as well as man-made disasters. Damages caused by fire, earthquakes, flood, riot and incidents like theft of vehicle tend to be covered by the insurance company, so make sure you read the policy documents carefully.

Car insurance rates vary quite a bit between insurance providers

When you’re in the market for a car insurance policy, you will find that insurance companies charge different premium rates for insuring the same vehicle. This is because every insurer will have their own method of calculating risk. Say, if an insurance company receives a large number of claims from owners of a particular car brand, then the insurer may charge higher rates for extending coverage to people with vehicles of that brand. So, before buying an insurance policy for your vehicle, make sure to compare the rates offered by each insurance provider to cover your vehicle.

Whatever the age of your vehicle, insurance is mandatory!

The Motor Vehicle Act of 1988 makes it mandatory for every car plying on Indian roads to be insured. There are no exceptions, whether your car is old or new. You will be charged a fine or even face some jail time if you are caught driving without vehicle insurance.

Before buying any car insurance policy, you must research about its features, benefits, costs, and so on. This helps when a product is presented to you, because you will be able to easily tell if what is communicated to you is honest.

We hope this article has helped you understand car insurance better and cleared any misconceptions you may have had about insuring your vehicle. If you have any queries, do write to us at support@oneinsure.com.

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Things to Remember if Your Vehicle Is Involved in a Road Accident

abhishek — Fri, 09 Apr 2021 06:30:00 GMT

Things to Remember if Your Vehicle Is Involved in a Road Accident

09-Apr-2021 09-Apr-2021'

abhishek

There’s no escaping it! If you own a vehicle in a busy city like Mumbai, New Delhi or Bengaluru, chances are that you will be involved in a vehicular accident at some point.

While we won’t invest much space in this article to inform you about the benefits of a comprehensive car insurance policy, we will inform you that your chances of a favourable insurance settlement are much higher if you rely on your own insurance cover rather than relying on the other vehicle owner’s third-party damage car insurance.

Imagine you’re returning home from work in your car and have stopped at a signal. Suddenly, a vehicle rams into your car from the rear, causing major damage to your car. Your body is thrown forward but the seat-belt you’re wearing avoids major injury.

Being a mature car owner, you own a comprehensive car insurance policy. Let’s see what to do next.

Understanding what you need to do right then and there

In case of an accident where there is no injury, police FIR is not required.
Details like engine number, chassis number, and registration number should exactly match the details in the RC book of your vehicle, or else you will not get cashless service at a network garage. So, it is important to fill out information properly when buying/renewing a car insurance policy.
In order to assess the damages sustained by your vehicle and decide the pay-out, the insurance company is required to appoint a Surveyor, who will visit the garage where you have kept your vehicle. Only after the survey will the repairs begin. If this appointment is delayed by the insurer, do not sit idle. Remember to always follow-up with the insurer. Optionally, you can call OneInsure (86559 86559) and we will follow up for you. Insurers sometimes delay the appointment of a Surveyor for days. This leads to insecurity (your vehicle is at the garage and you are at work), a wastage of money spent on cabs, and other inconveniences. So be proactive.

Car insurance claims can be paid from your comprehensive coverage or the third-party liability coverage of the vehicle that caused the accident. But before your claim can get settled, there’s a whole process you’ll need to go through.

Top 4 tips to ensure your claim-settlement process goes smoothly

Let your insurer know right away – If your car is involved in an accident, it is advisable to report it to your motor insurer within 48 hours from the time of the accident.
Analyse the offer – After submitting the claim, the motor insurer will present you with the first settlement. If you think what’s offered is not sufficient to cover your losses, you can always negotiate and ask for a reasonable figure.
Legal advice – If the negotiation fails and your insurer refuses to provide the desired amount, you can appoint an insurance lawyer.
Get written agreement – Once you and the insurance company have decided on the settlement amount, ask the insurance company to provide a written agreement. Also get a confirmation in writing about when (the actual date) the claim amount will be paid.

Before filing a car insurance claim, make sure to follow these simple steps so that you don’t face any hassles at the time of claim settlement. To find the most suitable car insurance policy, reach out to us at 86559-86559 or write to us at support@oneinsure.com.

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How to Make Car Insurance Claims Successfully

Aditya Nair — Fri, 10 Jan 2020 02:27:00 GMT

How to Make Car Insurance Claims Successfully

10-Jan-2020 10-Jan-2020'

Aditya Nair

Imagine you are returning home from work at 10 PM. You are in your car and have stopped at a signal, waiting for it to turn green. Suddenly, there is a screeching of tyres, followed by a loud smashing sound. Your body is thrown forward but the seat-belt you’re wearing avoids major injury. In a state of shock, you realize that a car has just rammed your car from the rear, breaking your rear glass, causing major dents in your car’s body, and seriously damaging the bumper.

Luckily, being a mature car owner, you own a comprehensive car insurance policy. Otherwise, this would be an expenditure of Rs 30,000 at least.

Let’s better understand what you need to do right then and there:

In case of an accident where there is no injury, police FIR is not required, so do not waste your time on this.
Details like engine number, chassis number, and registration number should exactly match the details in the RC book of your vehicle, or else you will not get cashless service at a network garage.So, it is important to fill out information properly when buying/renewing a car insurance policy.
In order to assess the damages sustained by your vehicle and decide the pay-out, the insurance company is required to appoint a Surveyor, who will visit the garage where you have kept your vehicle. Only after the survey will the repairs begin. If this appointment is delayed by the insurer, do not sit idle. Remember to always follow-up with the insurer. Optionally, you can call OneInsure (86559-86559) and we will follow up for you. Insurers sometimes delay the appointment of a Surveyor for days. This leads to insecurity (your vehicle is at the garage and you are at work), a wastage of money spent on cabs, and other inconveniences. So be proactive.

Car insurance claims can be paid from comprehensive coverage (your own policy) or third-party liability coverage (the insurance policy of the vehicle that caused an accident with yours). But before your claim can get settled, there’s a whole process you’ll need to go through. Here are our top four tips on how you can ensure your claim-settlement process goes smoothly:

Let your insurer know right away – If your car is involved in an accident, it is advisable to report it to your motor insurer within 48 hours from the time of the accident. While reporting it within that time frame is not mandatory, doing so will help ensure you don't miss out on the minute details of the accident. Sometimes, even the tiniest of details can have a big impact on your claim.
Analyze the offer – After submitting the claim, the motor insurer will present you with the first settlement. If you think what’s offered is not sufficient to cover your losses, you can always negotiate and ask for a reasonable figure. Make sure to attach all the necessary proofs to substantiate your request.
Legal advice – If the negotiation fails and your insurer refuses to provide the desired amount, you can appoint an insurance lawyer. The lawyer will analyze the situation and help you get the settlement according to the terms and conditions of the policy.
Get written agreement – Once you and the insurance company have decided on the settlement amount, ask the insurance company to provide a written agreement from their end. It should state that the policy will cover the claims you have found reasonable. Also get a confirmation in writing about when (the actual date) the claim amount will be paid.

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Follow All Traffic Rules? New Rules May Reward You with Reduced Premiums

Aditya Nair — Mon, 16 Sep 2019 07:43:38 GMT

Follow All Traffic Rules? New Rules May Reward You with Reduced Premiums

16-Sep-2019 16-Sep-2019'

Aditya Nair

In a move that should come as a welcome step for those who drive or ride safely and follow all traffic rules, the Insurance Regulatory and Development Authority (IRDA) is considering the linking of insurance premiums with traffic violations. The fewer the road violations you commit, the lower your premiums will be, if these new rules should come into effect.

This move, which is still pending a thorough review and whose implementation framework and linking methodology is being looked into by a nine-member IRDA-sanctioned panel at the time of this writing, should save “safe” drivers/riders several hundreds of Rupees in premiums over the course of a single year.

Although the pilot for this move isn’t going to be rolled out till 2020, this is a move that industry watchers are calling “a much-needed step in the right direction”.

Coming in the footsteps of the strengthened Motor Vehicles Act, through which several motor-offenses-related penalties have risen sharply, this new step (when rolled out) will lay further emphasis on following traffic rules. Note that this is not unprecedented; this move has been successfully implemented in some western countries.

How Will It Work Exactly?

The nine-member panel’s mandate involves "evaluating the current point system for traffic violations implemented by states and evolve a standard point system considering each traffic violation". In layman’s terms, each violation will reduce your driving rating. During motor insurance renewals, your rating will be a factor when your premium is being calculated. Naturally, your history will also be constantly recorded and factored into premium calculations.

The fewer the road violations you commit, the lower your premiums will be.

Speaking about the viability of this new car insurance rules for the insurers, a Transport Ministry official commented, “If their initiatives reduce the number of accidents and deaths, their total compensation outgo will also fall. So, it makes perfect sense for their future business.”

Get quotes for car insurance here
Get quotes for two-wheeler insurance here

It is expected that these new vehicle insurance rules, when rolled out, will be supported wholeheartedly. IRDA has been engaged in people-friendly motor insurance new rules for the last couple of years.

(Source and Credits: ToI)

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Telematics – A New Initiative by IRDAI to Reduce Motor Insurance Premiums

Shraddha Gala — Tue, 09 Apr 2019 06:32:00 GMT

Telematics – A New Initiative by IRDAI to Reduce Motor Insurance Premiums

09-Apr-2019 09-Apr-2019'

Shraddha Gala

Change Is the Name of the Game

Motor insurance in India has been undergoing a major change in recent years, thanks to new technological innovations and advancements, which are proving to be helpful for both insurers and drivers.

Welcoming one such innovative change in India, IRDAI has rolled out telematics-based motor insurance, which is also known as usage-based car insurance. This new-age model aims to reduce car insurance premiums where pricing of policies would take a more driver-centric approach.

Why This Step?

In telematics-based motor insurance, premium rates are decided on the basis of the driving style, driving time, total mileage, types of roads travelled frequently, and other such factors. Using this technology, IRDAI will reward good drivers for their safe driving by asking for low premiums and at the same time, it will be used as a checker-cum-motivator for rash drivers to improve their driving skills and pattern, thereby inculcating safe driving practices in India.

How Does the Telematics-Based Device Work?

Telematics-based motor insurance policies work on the reports of a smart device known as Telematics or black-box, which is fixed in your car. This device tracks various aspects, such as your driving pattern, distance driven, the speed of the car, the car’s movements via GPS, which help in determining your car insurance premium.

For instance, using the telematics device, the insurance companies will conduct a risk assessment on the basis of your driving pattern and the premium will be calculated. This shows that the model has a standardized process that rewards good and safe driving with low car insurance premiums. This model is ideal for young and newly qualified drivers with less driving experience.

Telematics-Based Motor Insurance in India

In India, a few companies have introduced telematics-based motor insurance plans and services, whereby using these services you can avail discounts on your premiums.

The model has just seen the light of the day in India. Globally, telematics has proved to be a boon for both the insured and insurer. If you are a good driver who deserves to be rewarded in the form of discounted car insurance premiums, you can opt for telematics car insurance.

In case of queries, feel free to write to us at support@oneinsure.com or call 86559-86559.

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Motor Insurance – Why the Cheapest Might Not Be the Best

Mariya Panwala — Wed, 03 Oct 2018 10:29:00 GMT

Motor Insurance – Why the Cheapest Might Not Be the Best

03-Oct-2018 03-Oct-2018'

Mariya Panwala

Cheap is expensive in the long run.

Remember that road-side wallet you bought that started tearing within a month? Or those shirts you got for 250 bucks each that started losing their colour after the first wash? Going for a relatively cheaper option does give some sort of satisfaction at the moment of purchase. However, it doesn’t take much time for you to see yourself regretting those cheap purchases. Let’s be honest! We all know that cheaper things cost more in the long run.

While we can make exceptions considering our priorities, there are some things in life that cannot be compromised on in terms of quality and the benefits that they offer. Motor insurance is one of them. Policy buyers, in their quest to buy the cheapest car insurance, often underestimate the importance of relevant add-ons and skip buying them. In the long run, this costs them far more than the little money they saved by not getting relevant add-ons.

When You Lose Your Car Key

Let’s say you own a car in the INR 8 – 10 lakh range. The key to this car costs close to INR 15,000 if you want to replace it. However, you need not have to worry about any damage to the key initially since the Key Replacement add-on was present in the initial insurance cover you purchased along with the car. However, when you renewed your car insurance, you decided to go without this add-on because you are looking for the cheapest car insurance.

Don’t make this error. Losing one’s car key or damaging it by dropping it or rough use is a recurring phenomenon among many car owners. If you end up losing or damaging your key, it will cost you not less than INR 15,000, which is quite a large blow. On the other hand, the Key Replacement add-on would only have cost you INR 150 or lower a year in your insurance policy, and the insurance company will pay the whole amount for a replacement key.

Do the math. INR 15,000 for a new key is 100 times the annual cost of this add-on. This means that you are getting a good deal for 100 years or so by opting for this add-on. Go for it.

A Flood-damaged Engine

If water enters your vehicle’s exhaust pipe (as it does during floods) and you turn the key in the ignition, the engine of your vehicle will seize. What’s more, as soon as you turn the key in the ignition, you stand to lose your insurance privileges in most car insurance policies.

To repair the engine damage, the engine block has to be opened completely. If your car is in the INR 8 – 10 lakh range, these repairs will cost about INR 1 lakh. However, if you have the Engine Protection add-on, costs incurred on repairing a damaged engine will be covered. This is a must-have add-on for car owners residing in areas that experience heavy rainfall, such as Mumbai.

Zero Depreciation Rider

Every time a car insurance claim is made, pay-outs are made after considering the reduced value of certain parts of the car, which is derived based on their rate of depreciation. For example, the rate of depreciation in the case of plastic, nylon, and rubber parts is 50%. In this case, if a part of your car (made of plastic, nylon, or rubber) needs replacement, and say it costs INR 4,000, then 50% will be paid by your insurer while the remaining 50% (that is, INR 2,000) will have to be borne by you.

However, by adding the Zero Depreciation rider to your policy, you can rest assured that you will be reimbursed the full value of the car part to be replaced, no matter what material it is made of.

Yes, all these riders will certainly give a slight push to your overall premium amount. However, do not forget that not having these riders will cost you even more in the long run. So, what do you think, isn’t it time to say no to cheap car insurance?

Shoot us your queries either in the Comments section below or write to us at support@oneinsure.com or call 86559-86559. Join our WhatsApp broadcast list to get similar tips in future by simply sending “Start” to 98202-25238.

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Motor Insurance Costs for New Vehicle Purchases to Increase – What This Means for You

Mohit Mishra — Mon, 10 Sep 2018 09:51:00 GMT

Motor Insurance Costs for New Vehicle Purchases to Increase – What This Means for You

10-Sep-2018 10-Sep-2018'

Mohit Mishra

IRDAI has decreed that, starting Sept 1, 2018, third-party liability (TP) motor insurance premium for both personal cars as well as two-wheelers will have to be paid upfront during purchase for three years and five years respectively. Note that this is for new purchases only and policy renewal rates are not affected. Due to this, first-year costs will see an upward spike and new vehicle owners will have to shell out more upfront.

Additionally, new vehicle owners should note that this applies only to TP motor insurance and not OD (own-damage) insurance. This point is also relevant for those who may have queries regarding how NCB will be treated due to this change. Since NCB is only applicable on the OD part and not on the TP part of the policy, it will remain unaffected.

Likewise, there is no impact on IDV (insured’s declared value) either.

So, what exactly has changed? Let’s have a look at a table to illustrate:

Sr. No.	Category	Vehicle Class	Premium before Sept 1, 2018	Premium w.e.f Sept 1, 2018, for 3 and 5 years	% Increase
1	Private Car	Not exceeding 1000 cc	1,850	5,286	285.73%
		Between 1000 cc and 1499 cc	2,863	9,534	333.01%
		1500 cc or more	7,890	24,305	308.05%

2	Two-wheeler	Not exceeding 75 cc	427	1,045	244.73%
		Between 75 cc and 149 cc	720	3,285	456.25%
		Between 150 cc and 349 cc	985	5,453	553.60%
		350 cc or more	2,323	13,034	561.08%

The amounts in the 5^thcolumn are payable upfront on the purchase of a new motor vehicle. As can be seen from column 6, the tariffs have risen for certain categories, for example, private cars between 1000 cc and 1499 cc and also two-wheelers with engines above 350 cc.

These added costs will reflect in the buying costs of private vehicles throughout the country.

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Filing a Motor Claim? Here’s What Your Insurer Did Not Tell You

Mohit Mishra — Mon, 13 Aug 2018 06:18:00 GMT

Filing a Motor Claim? Here’s What Your Insurer Did Not Tell You

13-Aug-2018 13-Aug-2018'

Mohit Mishra

Being in a motor accident is a harrowing experience in itself. But filing a motor claim can be just as messy if you don’t know the basics of the process. Today, the OneInsure Research Desk brings you the three most basic things you absolutely need to keep in mind for a smooth claim filing process.

In case of an accident where there is no injury, police FIR is not required, so do not waste your time on this.
Details like engine number, chassis number, and registration number should exactly match the details in the RC book of your vehicle, or else you will not get cashless service at a network garage.
In order to assess the damages sustained by your vehicle and decide the pay-out, the insurance company is required to appoint a Surveyor, who will visit the garage where you have kept your vehicle. Only after the survey will the repairs begin. If this appointment is delayed by the insurer, do not sit idle. Remember to always follow-up with the insurer. Optionally, you can call OneInsure and we will follow up for you. Insurers sometimes delay the appointment of a Surveyor for days.
This leads to insecurity (your vehicle is at the garage and you are at work), a wastage of money spent on cabs, and other inconveniences. So be proactive.

Visit here if you would like claim assistance for your motor, life, or health policy right now.

Loved this article? Want to read more? All you need to do is send “Start” through WhatsApp on 98202-25238 to get useful articles right on your WhatsApp for free. Here are some additional services we offer:

Ask all your insurance queries to our experts right on WhatsApp
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Surrender your policy
Change policy details
And many other services

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Renew Car Insurance in Less Than 10 Minutes

Mohit Mishra — Mon, 23 Jul 2018 14:23:00 GMT

Renew Car Insurance in Less Than 10 Minutes

23-Jul-2018 23-Jul-2018'

Mohit Mishra

Since you’re here to renew your car insurance policy in the least possible time, we will lead you straight to the renewal procedure. But first, you need to identify the current status of your car insurance policy. There are two possible scenarios:

Renewal of car insurance before the policy has lapsed
Renewal of car insurance after the policy has lapsed

Let’s discuss the procedure under each of them.

Scenario 1: Renewal of car insurance before the policy has lapsed
(you can skip this section and go directly to Scenario 2 if your policy has lapsed)

Step 1: Click here and you will be taken to the COMPARE CAR INSURANCE page.

Step 2: Enter your vehicle’s registration number and click on GET DETAILS.
(Note: If you don’t remember your vehicle’s registration number, click on CLICK HERE at the bottom-left of the same page and follow the instructions given)

Step 3: Once on the Your Vehicle Details page, fill in the required information and click on VIEW QUOTES.

Step 4: Select the plan of your choice, provide the necessary information, and click on CONFIRM.

Step 5: Quickly fill in the form consisting the following tabs:

Owner Details
Vehicle Details
Contact Details
Summary
Confirm

Step 6: Make payment.

Step 7: Once the payment is made, you will be taken to the page from where you can download your renewed policy. A copy of your policy will also be dropped into your mailbox.

Scenario 2: Renewal of car insurance after the policy has lapsed

Missed paying your car insurance premium? Let us help you renew your car insurance policy after your policy has expired. There are two ways to do this – a shortcut or a longer cut. Let’s explore both.

First, the shortcut procedure

Call OneInsure at 86559-86559 or write to us at support@oneinsure.com and we will guide you through the entire procedure.

Also Read: How to Make a Successful Car Insurance Claim

Now, let’s talk about the longer procedure

Step 1: Choose your insurance policy and get in touch with the insurer.

Step 2: Have your car inspected by the insurer’s representative to evaluate whether or not the insurance will be provided.

Step 3: If the request is approved, buy the insurance policy immediately.

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While we have discussed all the necessary steps enabling you to quickly renew your car insurance policy, do not hesitate to get in touch with us right away in case you feel bogged down midway. Our contact details are as follows:

86559-86559
support@oneinsure.com

Renewing your car insurance policy is a must as it has been made mandatory by law. Non-adherence of this law is a punishable crime. It is therefore advised to always carry a valid car insurance policy.

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Top 3 Car Insurance Myths You’ve Got to Stop Believing In

Mariya Panwala — Sat, 30 Jun 2018 09:47:00 GMT

Top 3 Car Insurance Myths You’ve Got to Stop Believing In

30-Jun-2018 30-Jun-2018'

Mariya Panwala

Did you really believe that Newton discovered gravity after an apple fell on his head, or humans only utilize 10% of their brain? If yes, then it’s time you stop believing everything you hear and rather indulge in some research and get your facts checked before you end up making a fool out of yourself at a social gathering.

People love interesting tales and that’s precisely why many myths have managed to slide through generations across all facets of life.

Insurance is no different. Lack of proper knowledge has led to the birth of many myths across various categories of insurance. While we have debunked a few earlier, here we are again to debunk the top 3 car insurance myths that have been doing the rounds.

Myth 1: I don’t need comprehensive car insurance in case of theft because my car is old, and thieves prefer new cars.

Reality: You think you know them pretty well? Let us prove you wrong.

Thieves prefer stealing older cars for the following reasons:

Newer cars come with advanced security mechanisms, making them a difficult steal. However, older cars often have low-level security mechanisms, making them an easy steal for thieves.
Selling parts of older cars piece by piece is easier, safer, and more lucrative than selling whole new cars, which is why thieves prefer the former.

So, the next time your car insurance’s premium becomes due, pay it immediately before a thief gets his hands on your old car.

Myth 2: If my car got damaged while it was being driven by a friend, then the friend’s insurer will pay for the damages.

Reality: A friend, a family member, or anybody that you allow to operate your car are deemed permissive drivers by the insurer. Naturally, your car getting damaged while being driven by them will come under the purview of your car insurance policy.

Note: Reckless or drunk driving, whether by the owner of the car or any other permissive driver, is not covered under any insurance policy and the damages have to be compensated by the person at fault.

Myth 3: My laptop got stolen while it was lying in my car. Of course, my car insurance policy will pay for the loss.

Reality: Your car insurance policy does not cover the contents of your car, such as your laptop, mobile phone, jewellery, or any other valuable item (unless add-on covers are availed). However, the same can be covered under a property insurance policy, which is a separate policy.

Tip: Don’t leave your valuables in the car unattended. Your car insurance policy is not responsible for it.

It’s important to differentiate myths and rumours from facts to ensure you’re not denied a claim. Reading from trusted sources can help you understand insurance better. Keeping this in mind, OneInsure has recently launched a WhatsApp Connect campaign wherein we provide quick insights and relevant information on insurance and finance. The primary objective behind this campaign is to keep our customers and readers updated with the latest developments in the insurance and related industries, thereby helping them take the right financial decisions.

To become a part of the OneInsure WhatsApp Connect group, all you need to do is send “Start” through WhatsApp on 98202-25238.

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What Is Covered Under A Comprehensive Car Insurance Policy

Mariya Panwala — Tue, 24 Apr 2018 09:00:00 GMT

What Is Covered Under A Comprehensive Car Insurance Policy

24-Apr-2018 24-Apr-2018'

Mariya Panwala

Chiefly, there are two types of car insurance policies – Third Party Liability Coverage and Comprehensive Coverage. In this article, we will stick to exploring the benefits of a comprehensive car insurance coverage. But before we discuss that, let us first in brief understand the Third Party Liability Coverage.

According to Indian Motor Vehicles Act of 1988, the Third Party Liability Coverage is mandatory for anyone who owns a car or any other vehicle for that matter. This cover provides financial protection against the damages or losses caused to a third party where the policyholder’s car/vehicle is involved. It compensates the third party for the damage to their property, bodily injuries or accidental death.

While the financial protection in case of a third party car insurance is limited to the third party, in case of a comprehensive coverage, the protection is comprehensive. Which means, it covers both the third party and the policyholder.

Comprehensive Car Insurance covers for the following 3 things –

Third Party Liability –

Injuries or death caused to the third party.

Damages caused to the property of the third party.

Insured vehicle’s owner’s death.

Insured vehicle’s driver’s death is covered (at an extra premium).

Death of the passengers who are travelling in the insured vehicle (at an extra premium).

Permanent Total Disability (of the insured vehicle’s owner, driver and passengers, by paying an extra premium).

Read Here For Full Details On Car Insurance

Own Damage –

Damage resulting from an accident where the insured car is involved.

Natural Disasters: floods, Storms, hurricanes, tornadoes, earthquakes, etc.

Fire, explosions and civil commotions

Falling objects

Terrorism

Vandalism and theft

Personal Accident Cover –

Insured person’s death
Loss of two limbs or sight of two eyes or one limb or sight of one eye
Permanent disability from injuries other than discussed above

Also Read: How To Make A Successful Car Insurance Claim

While third-party car insurance is mandatory, comprehensive car insurance is not. Nevertheless, given the rise in road accidents in India, a comprehensive car insurance policy is what one must opt for to obtain overall financial security in case of a car accident.

To avail a car plan, get in touch with us by dialing 86559-86559 or by dropping us an email at support@oneinsure.com. You can also explore other insurance policies on our website OneInsure.

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How To Make A Successful Car Insurance Claim

Joan — Thu, 18 Jan 2018 13:05:00 GMT

How To Make A Successful Car Insurance Claim

18-Jan-2018 18-Jan-2018'

Joan

Thanks to the easy availability of car loans in the market and their competitive interest rates, getting a car has become much easier. However, making sure that it does not suffer damages can be rather difficult, given the rise in traffic and incidents of rash driving. To protect your vehicle from the various risks it faces, insurance companies have designed car insurance policies. A car insurance policy covers damages caused to your vehicle and injuries to passengers during a car accident.

Claims can be paid from comprehensive coverage or third-party liability coverage. But before your claim can get settled, there’s a whole process you’ll need to go through. Here are our top four tips on how you can ensure your claim settlement process goes smoothly.

Let your insurer know right away

If your car is involved in an accident, it is advisable to report it to your motor insurer within 48 hours from the time of the accident. While reporting it within that timeframe is not mandatory, doing so will help ensure you don't miss out on the minute details of the accident. Sometimes, even the tiniest of details can have a big impact on your claim.

Analyze the offer

After submitting the claim, the motor insurer will present you with the first settlement. If you think what’s offered is not sufficient to cover your losses, you can always negotiate and ask for a reasonable figure. Make sure to attach all the necessary proofs to substantiate your request.

Legal advice

If the negotiation fails and your insurer refuses to provide the desired amount, you could contact your car insurance lawyer. The lawyer will analyze the situation and help you get the settlement according to the terms and conditions of the policy.

Get written agreement

Once you and the insurance company have decided on the settlement amount, ask the insurance company to provide a written agreement from their end. It should state that the policy will cover the claims you have found reasonable. Also get a confirmation in writing about when (i.e. the date) the claim amount will be paid.

Before filing a car insurance claim, make to follow these simple steps so that you don’t face any hassles at the time of claim settlement. To find the most suitable car insurance policy, reach out to us at 86559 86559 or write to us in the comments section below.

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Car Insurance - To Claim Or Not To Claim

Mariya Panwala — Wed, 17 Jan 2018 12:46:00 GMT

Car Insurance - To Claim Or Not To Claim

17-Jan-2018 17-Jan-2018'

Mariya Panwala

When your car breaks down or you meet with an accident, you raise a claim, right? While most of the times you make a claim because the expenses incurred are too much to bear, the other times, there’s a possibility that not claiming on your car insurance policy might sound like a reasonable decision. In case you’re wondering how and why, then below are the 2 major reasons –

If you do not make a claim on your insurance policy this year, then you’re eligible to receive a no claim bonus the next year i.e. discount on your premiums.
Based on your claim history (if you have had many claims), chances are, your premiums will be increased. So why not avoid making claims?

Sounds good, isn’t it? But when exactly can you know that this is the situation where you should rather avoid raising a claim? To answer that, here’s OneInsure with a list of different situations in which you might as well avoid claiming on your car insurance policy. So without wasting any further time, let’s go straight on to those situations where you may find it difficult to decide whether to claim or not to claim. Allow us to help you take that decision while we give our suggestions.

1. If it’s not your fault, let the other party pay for the damages

If you are at fault during any mishap, then you will definitely have to pay for the damages. You will pay either out of your own pocket or by raising a claim with your insurer. However, if it wasn’t your fault but the other party’s, then hold on! Don’t raise the claim yet! The person whose car crashed into yours may have a valid insurance policy. So let the other party pay for the injuries or damages caused to you or your car. This will keep your claim record clean, at least for this time around.

2. Avoid raising a claim when the expenses are meagre

Now what about the times when the expenses incurred are meagre/too little? For example, a normal scratch, scrape or ding on your car? Or a damaged mirror for that matter? Do you think you should be raising a claim for an event as minor as that? You might think, “but I have the insurance policy and I pay premiums regularly, so why not?” That’s absolutely a reasonable argument but we request that you refer again the two reasons that we discussed under the bullet points at the onset of this article.

Hence, although we are not saying that raising the claim in these conditions is not possible at all, but it can be avoided because the higher the number of claims you make, the higher will be the impact on your future premiums.

3. Discount on premiums

The insurance company rewards the careful drivers who do not raise any claim. This reward in insurance industry is termed as “No Claim Bonus” aka NCB. Under NCB, you are eligible to receive a certain percent of discount on the insurance premiums to be paid in the succeeding year. You have two options – you can either raise a claim for a significantly smaller amount of money this year or receive a discount on your next year’s premiums. It’s totally your call.

To conclude, above are just the suggested situations wherewe are of the opinion that you skip raising a claim. However, in the end, it’s totally up to you whether to make or not make a claim in these events. But do consider the above-mentioned reasons and take a wise decision. In case you need further guidance, feel free to reach out to us by commenting below or dropping us an email at support@oneinsure.com. You can also instantly get in touch with us over a call by dialling 86559 86559.

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5 Common Car Insurance Myths

Shashank — Thu, 16 Nov 2017 11:41:00 GMT

5 Common Car Insurance Myths

16-Nov-2017 16-Nov-2017'

Shashank

When it comes to car insurance myths, there are plenty making the rounds. Believing them to be true, many either refrain from buying a car insurance policy (which, by the way, you are legally required to have if you own a car) or miss out on availing its various benefits. The myths and misconceptions surrounding car insurance are the reason why people fail to make the best use of their insurance cover.

In this article, we will attempt to debunk the top 5 myths associated with car insurance, so that you will know how exactly the policy works.

Myth 1 - My car is old so I don’t need to insure it

Truth - Car insurance is not an option. Even if your vehicle is old, the law states that it must be insured.

The Motor Vehicle Act of 1988 makes it mandatory for every car plying on the Indian roads to be insured. There are no exceptions, whether your car is old or new, you need to get insurance for it. You will be charged a fine if you are caught driving without insuring your vehicle, and worst comes to worst, you could face some jail time.

Even if your car is old, it doesn’t mean there aren’t any threats facing it. Old cars are generally easier to steal. Additionally, there is a large demand for their parts. After stealing the car, thieves often take the car apart and sell its parts. So given that your old car has value, the best thing to do is insure it.

Myth 2 - Red cars cost more to insure

Truth - The colour of your car has nothing to do with your premium rates.

The colour red is definitely more eye-catchy, but that does not mean it will have any bearing on the rates that you pay. The insurance company will take into consideration the make and model of your car while determining the premiums, but not its colour. So go ahead and choose your favourite colour, don’t worry about it affecting the premium rates in any way.

Myth 3 - Transferring my policy to another insurer could cost me my no claim bonus

Truth - Your no claim bonus stays even when you shift your policy from one insurance company to another.

If you do not know what NCB is, well, it is a discount you get for every year you do not make a claim. The amount is rather substantial, and it gets accumulated year after year, provided that you do not make a claim. Now, although the NCB stays even when you transfer your policy from one provider to another, see to it that you file for it within ninety days of the expiration of your old cover, or else the accrued benefit gets lost.

Myth 4 - Car insurance only covers accidents

Truth - Comprehensive car insurance policy also covers non-collision damages, theft of vehicle, etc.

Yes, car insurance covers your losses in case your car is involved in an accident. With a comprehensive car insurance policy, you will be protected against losses or damage caused to your car from natural and man-made disasters. Damages caused by fire, earthquakes, flood, riot and incidents like theft of vehicle will be covered by the insurance company. Make sure to read the policy documents carefully to see what kind of natural and man-made disasters will and will not be covered.

Myth 5 - All insurance companies offer the same rates

Truth - Car insurance rates vary quite a bit among insurance providers.

When you’re shopping for a car insurance policy, you will find that insurance companies charge different premium rates for insuring the same vehicle. This is because every insurer will have their method of calculating risk. Say, if an insurance company receives a large number of claims from owners of a particular car brand then the insurer may charge higher rates for extending coverage to people with similar vehicles. So before buying an insurance policy for your vehicle, make sure to compare the rates offered by each insurance provider for covering your vehicle.

Before buying any car insurance policy, you must research about its features, benefits, costs, etc. So that when a product is presented to you, you will be able to easily tell if what is communicated to you is true and honest. We hope this article has helped you understand car insurance better and cleared any misconceptions you may have had about insuring your vehicle. If you have any doubts or queries, do write them to us in the comments section below or drop us an email at support@oneinsure.com.

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Foggy Roads Ahead: 8 Tips To Stay Safe This Winter

Mariya Panwala — Mon, 13 Nov 2017 11:35:00 GMT

Foggy Roads Ahead: 8 Tips To Stay Safe This Winter

13-Nov-2017 13-Nov-2017'

Mariya Panwala

Winter Is Here! We have already been warned that this year too it’s not going to be easy on the roads. The road accident that took place on Wednesday (8^th Nov. 2017) on Agra-Noida Yamuna Expressway killed one person and left at least 6 others injured. The foggy road reduced the visibility, thereby causing a major pile-up in the middle of the road. Although this is not uncommon, especially for those living in the North or in the Capital city, the worst can be prevented by taking certain preventive measures. In this article, we have compiled the top 7 tips that you need to follow this winter to keep yourself safe on the foggy roads.

Don't go out if not necessary

Before you leave your home, check weather conditions, may be on TV, radio or on Twitter (the trending hashtags will tell you that). If the weather condition appears bad, do not go out unless it’s very urgent. Be reasonable and take a sensible decision.

Check your headlights

If it is necessary to go and you’ve decided to leave then check your headlights first. Check if they’re working properly. Keep the headlights on if the road is foggy, but say 'No to Full-beam'. Thick fog reduces your visibility by reflecting the light back at you, specially in full-beam mode. So be careful about how you use your headlights on a foggy road.

Turn on the fog lights

If your car has fog lights, then it is time you make use of it. The fog lights will light up the road thereby increasing the visibility of your car. This will eventually prevent accidents. So, don’t forget to turn that fog light on and if you do not have the fog lights yet, it’s a perfect time to shop them. Also, once you've got them fixed in your car, make sure that you notify your insurer to update it in your car insurance policy.

Watch your speed

Needless to say but don’t go at a very high speed, because the fog must have reduced the visibility and you may not be able to see clearly. So drive slow, drive safe, things can wait!

Turn on the heater

The insides of your car may get steamed-up with condensation because of the fog outside. This can further worsen the visibility. So make sure that in case of intense foggy weather, you turn-on the heater in your car. Also, keep on clearing the windscreen for a better visibility.

Be all ears!

Pay attention to the sounds coming from both near and far distances. Staying focused will prepare you in case there's a tragedy lying ahead on the road. It would be best to turn-off the music to help you concentrate better.

Control your urge to overtake

You might have the urge to drive past the one driving ahead of you, as you think that the person is driving slowly out of leisure while you want to reach home at the earliest. However, remember that in a weather like this, everyone is trying to reach their destination at the earliest and no one’s driving slowly by choice. So do not try to overtake, keep patience and maintain a good distance from the vehicles ahead and behind you.

Get yourself covered with insurance plans

It is circumstances like these that insurance policies prove very helpful. In case your car gets damaged, get compensated under your auto insurance policy. For hospitalization due to bodily injury, get reimbursement from your health insurance policy. Besides these, let a life insurance plan keep you prepared for the worst.

Summing up all - if you have no choice but to go out even in an adverse weather condition, then do all the possible that you can to be on the safer side. Drive slowly and pay utmost attention to the road. Having said all, we would still insist that you rather stay indoors, grab a cup of coffee and watch your favorite movie.

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3 Things You Must Not Do After A Car Accident

Joan — Thu, 09 Nov 2017 11:18:00 GMT

3 Things You Must Not Do After A Car Accident

09-Nov-2017 09-Nov-2017'

Joan

Ever been involved in a car accident? If your answer is yes, you know well that the moments following an accident can be quite straining - mentally and emotionally - as you try to recall what should and should not be done. What's most essential for you is to know what mistakes to avoid, so that you can make a claim without any hassles. Now, you may have come across several reports over the internet about what you need to do following a car accident. In this article, however, we will look at the things you must not do to after an accident to ensure the claim settlement process goes smoothly.

To start with, DO NOT flee from the scene of the accident even when the car crash is your fault. As you wait for the police to arrive, refrain from moving the position of your car as well as the vehicle of the other party involved in the accident. If possible, click pictures of the scene as this will serve as evidence if someone attempts to misrepresent facts. You can also use this pictorial evidence if the insurance company wants proof of the incident.

Do not make any delays in notifying your insurance company about the accident. The policy papers you have signed will mention the time period by which you are required to make a claim following an accident. Delays can lead to your claim getting denied. Also, after you have submitted a claim, see to it that you work hand-in-hand with your insurance provider. Submit all the necessary documents on time and coordinate with your insurance company to get the most out of your claim.

Do not accept any payment from your insurance company as final, unless you are entirely positive it covers your losses. You may be in a position where you want to put the incident behind you and you feel like accepting whatever your insurance company offers. Refrain from doing so until you have gone through your policy documents and matched it with the offer made by your insurance company. Proceed only when you are certain that the payout will cover all your losses.

Remember, if you car has sustained damages in an accident and you're looking to file an insurance claim, see to it that you follow the law, stay composed, collect pictorial evidence and keep your insurance company in the loop about all that’s going on. If you adhere to the above rules, it’s unlikely that the insurance company will turn down your car insurance claim.

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All You Need To Know About No Claim Bonus

Joan — Wed, 25 Oct 2017 05:22:00 GMT

All You Need To Know About No Claim Bonus

25-Oct-2017 25-Oct-2017'

Joan

If you own a car, you are bound to have a car insurance policy for it. The Motor Vehicle Act of 1988 makes it compulsory for all vehicles to be insured before they can run on the road. This is definitely a commendable decision, given that motor vehicles pose a grave danger if the driver is not careful behind the wheel. In exchange for the protection extended by the motor insurance company, you, the policyholder, are required to make timely premium payments. Now premiums generally tend to rise overtime, and this can be a bummer for many. But the good news is that all motor insurance policyholders can benefit from no-claim bonus - a feature that offers a unique proposition whereby premium rates actually go down.

What is no claim bonus?

The NCB fetches you a discount on your premium for safe driving. Here, a policyholder stands to get a discount on the premiums for the subsequent years if s/he does not make any claims until the time of policy renewal. This discount goes up every year, provided that no claim has been filed. It should be noted that NCB is not applicable on liability premium, rather only on the own damage premium. This means if you have opted for a third party cover, you will not be eligible for a no claims bonus.

Percentage discount on premiums

The no claim bonus on car insurance premiums can range anywhere from 20% to 50%. If you do not make a claim in the first year, you will be eligible for a 20% discount on the first policy renewal, after two consecutive claim free years, you will be eligible for a 25% discount and so it goes. This discount can go up to 50% after five consecutive claim free years.

The No Claim Bonus is generally as per the following table:

After one claim-free year	20%
After two claim-free years	25%
After three claim-free years	35%
After four claim-free years	45%
After five claim-free years	50%

Protect no claim bonus - Avoid filing small claims

Although you may feel like making a claim every time your vehicle sustains minor damages, it is best to avoid it. Instead carry out a cost-benefit analysis and then decide whether you want to make a claim. Your NCB goes back to zero even when you make a claim, even when it's small. By forgoing smaller claims, you save quite a bit in the form of discount on the following year's premium thanks to NCB.

No claim bonus retention add-on cover

Even a small claim can cause you to lose your no claim bonus. That is why some motor insurance companies offer customers the option of choosing a NCB retention add-on cover. Under this, you can make claims up to a certain limit and your NCB will not be affected. The add-on lets you avail full discount on the annual premium even if you have made a claim.

Applicable even as you switch motor insurers

Your NCB can be transferred even when you move from one insurance company to another. If you have availed a car insurance policy from ABC insurer and in the 5^th year you decide to shift to XYZ insurer, you still get a 50% NCB from XYZ insurer. In case of any doubts, your new motor insurer can seek a declaration from the previous insurer to clarify whether the no-claim bonus is genuine.

Have any questions about No Claim Bonus? Feel free to reach us at 86559 86559.

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How To Keep Your Car Safe This Diwali

Joan — Wed, 18 Oct 2017 13:49:00 GMT

How To Keep Your Car Safe This Diwali

18-Oct-2017 18-Oct-2017'

Joan

Diwali, one of the biggest festivals in India, is celebrated with great pomp and show in every household. It’s a time when friends and family members come together to light earthen lamps, exchange sweets and gifts, etc. This is a time when we see people of all ages, young and old, bursting fire crackers on the streets whilst enjoying each others' company.

Given that there’s fireworks all around, there’s always the risk your vehicle could sustain damages. To ensure a safe celebration for you and your family, here's what you need to do:

1. Park your vehicle in the garage. If you don’t have one, there are quite a few commercial parking spaces where you can safely park your vehicle for a fee.

2. Carry a portable fire extinguisher in your car. Not only can you use the extinguisher to put out fire in the car, you can use it in case of any fire incidents nearby.

3. Make sure you have an active car insurance policy in place for your four-wheeler. Should firecrackers damage your vehicle, you can get the motor insurer to cover the cost of repairs.

4. Do not use a car cover if you’re leaving your vehicle out in the open. Car body covers are generally not fireproof, so if any burning rocket lands on it, there is a possibility your vehicle could catch fire.

Do put into practice the above safety measures to ensure your car is protected this Diwali.

We, at OneInsure, wish you a very happy and fun-filled Diwali.

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Don’t Let Your Car Insurance Lapse

Joan — Fri, 29 Sep 2017 09:04:00 GMT

Don’t Let Your Car Insurance Lapse

29-Sep-2017 29-Sep-2017'

Joan

Has there ever been an instance where you forgot to pay your credit card bills by the due date? If so, you know about the penalties that follow for late payments and the inconveniences caused. The same goes for when you delay paying your car insurance premiums on time.

Consequences

Never let your car insurance lapse, even if it is for a short period of time. Some individuals intentionally do not renew their car insurance just to save a couple of bucks on the premium. But this is far from sensible. Here's a look at what can go wrong if you drive around with a lapsed cover:

Without an active insurance cover in place, you expose yourself to financial liability in terms of repairs if your vehicle gets damaged in an accident.
Any compensation to be paid to the family of the deceased involved in the accident would become your responsibility.
If the cops catch you driving with a lapsed cover, you will be asked to pay a fine, and in the worst case scenario, you could face some jail time.
You stand to lose your No Claims Bonus, which is the discount you get on your premium for every consecutive year you don't file a claim, if your policy has lapsed three months.

So why would anyone, in their right state of mind, purposely allow their car insurance policy to lapse, given that there is nothing to gain and a whole lot to lose?

What to do if your car insurance has lapsed?

Option 1:

If you are trying to reinstate a lapsed cover, you would have to follow a process that is rather similar to getting a new car insurance policy. In case you are only applying for a third-party cover, the procedure is not that difficult and the insurance company will provide you the cover even after a break. But if you are looking for a comprehensive policy, the process will take slightly more time. For expired car insurance renewal online, you will be required to fill up a fresh proposal form. The insurance company will inspect your vehicle and document any pre-existing damages to the vehicle. These damages will not be covered even though the insurance company agrees to insure the vehicle. It must be noted that insurance companies may charge a higher premiums for cars whose policies have lapsed.

Option 2:

You can reach out to us via our App (OneInsure - Policy Manager), email us or call us and we will take matters from there. We shall see to it that you are issued a policy for your vehicle at the earliest.

Prevent it from happening!

Did you know you can set payment reminders on the OneInsure App? Yes, all you need to do is click on the Set Reminders button and enter information pertaining to your premium - premium due date, premium frequency and premium amount. When you are done, click on Set Reminder option. You will begin receiving notifications via SMS and Email as the payment date draws near.

If the issue is with affordability and the cost is what’s causing you to delay or forgo paying premiums on time, you may want to look into changing your coverage. Shop for policies that will cover your vehicle for a lower rate. Remember, no good comes from letting your car insurance policy lapse. When left completely unprotected, you may have to shell out considerable sums of money in case of lawsuits following an accident. To save your time, money and effort, make sure to have an insurance policy in place for your four-wheeler and always see to it that you pay your premiums on time.

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Car Insurance

Top 4 insurance pointers every car owner should know about

Transferring your policy to another insurer does not affect your NCB

Comprehensive car insurance covers a lot more than just accidents

Car insurance rates vary quite a bit between insurance providers

Whatever the age of your vehicle, insurance is mandatory!

Things to Remember if Your Vehicle Is Involved in a Road Accident

Understanding what you need to do right then and there

Top 4 tips to ensure your claim-settlement process goes smoothly

How to Make Car Insurance Claims Successfully

Follow All Traffic Rules? New Rules May Reward You with Reduced Premiums

How Will It Work Exactly?

The fewer the road violations you commit, the lower your premiums will be.

Telematics – A New Initiative by IRDAI to Reduce Motor Insurance Premiums

Why This Step?

How Does the Telematics-Based Device Work?

Telematics-Based Motor Insurance in India

Motor Insurance – Why the Cheapest Might Not Be the Best

When You Lose Your Car Key

A Flood-damaged Engine

Zero Depreciation Rider

Motor Insurance Costs for New Vehicle Purchases to Increase – What This Means for You

Filing a Motor Claim? Here’s What Your Insurer Did Not Tell You

Renew Car Insurance in Less Than 10 Minutes

Top 10 Car Insurance Questions Answered

Top 3 Car Insurance Myths You’ve Got to Stop Believing In

What Is Covered Under A Comprehensive Car Insurance Policy

Comprehensive Car Insurance covers for the following 3 things –

How To Make A Successful Car Insurance Claim

Car Insurance - To Claim Or Not To Claim

1. If it’s not your fault, let the other party pay for the damages

2. Avoid raising a claim when the expenses are meagre

3. Discount on premiums

5 Common Car Insurance Myths

Myth 1 - My car is old so I don’t need to insure it

Myth 2 - Red cars cost more to insure

Myth 3 - Transferring my policy to another insurer could cost me my no claim bonus

Myth 4 - Car insurance only covers accidents

Myth 5 - All insurance companies offer the same rates

Foggy Roads Ahead: 8 Tips To Stay Safe This Winter

Don't go out if not necessary

Check your headlights

Turn on the fog lights

Watch your speed

Turn on the heater

Be all ears!

Control your urge to overtake

Get yourself covered with insurance plans

3 Things You Must Not Do After A Car Accident

All You Need To Know About No Claim Bonus

How To Keep Your Car Safe This Diwali

1. Park your vehicle in the garage. If you don’t have one, there are quite a few commercial parking spaces where you can safely park your vehicle for a fee.

2. Carry a portable fire extinguisher in your car. Not only can you use the extinguisher to put out fire in the car, you can use it in case of any fire incidents nearby.

3. Make sure you have an active car insurance policy in place for your four-wheeler. Should firecrackers damage your vehicle, you can get the motor insurer to cover the cost of repairs.

4. Do not use a car cover if you’re leaving your vehicle out in the open. Car body covers are generally not fireproof, so if any burning rocket lands on it, there is a possibility your vehicle could catch fire.

Don’t Let Your Car Insurance Lapse