Let us take a moment to reflect on these statistics as reported by the National Crime Records Bureau (NCRB) for the year 2020. There were over 1.3 lakh serious road accidents with an average death rate of 37 people per 100 accidents. And these are just the reported statistics, with another large number of accidents going unreported. These are alarming figures. In the hustle-bustle of daily life, everyone seems to be in a constant rush to get somewhere. This leads to a lot of reckless driving, which can cause accidents of various kinds.
Why Get Comprehensive Insurance?
The above-provided information should be reason enough for you to protect yourself from the rising costs in case of damages caused to yourself or your vehicle in an accident. Insurance also covers damages caused by you to other people or their property. Moreover, the Indian Motor Act mandates all vehicles need to be insured before being used on the roads. Failure to comply can lead to a fine of Rs. 2000 and/or imprisonment of up to 3 months.
Buying car insurance from a leading insurance provider like Bajaj Allianz General Insurance is the ideal way of securing your vehicle. Using the Bajaj Finserv MARKETS app, you can get the best insurance plan in a matter of just a few taps.
Types Of Insurance
Now, there are two types of insurance plans that can be purchased.
- Third-Party Insurance
This is the most basic form of insurance that allows you to comply with the law. This insurance covers the legal and financial obligations in case you cause damage to another person (referred to as a third party) or their vehicle and/or property. However, no protection is accorded to your own vehicle, and any related expenses will need to be borne by you.
- Comprehensive Insurance
As you can see, Third-Party Insurance offers minimal coverage. It is financially sensible to go for a comprehensive insurance plan to safeguard yourself and your vehicle from unforeseen mishaps. A standard comprehensive insurance policy includes all the features of the Third Party insurance while also providing protection from damages caused during an accident to your own vehicle, theft or total loss (like vehicle falling in a lake), natural calamities such as earthquake, flood, fire etc.
The great part about comprehensive insurance from a reputed insurer like Bajaj Allianz General Insurance is that you can choose to get additional or enhanced coverage through the option of add-ons. These add-ons or top-ups can be chosen individually (at an additional cost). Some of the most popular add-ons are:
- Zero Depreciation Cover
- Consumables Cover
- 24×7 Road Assistance
- Personal Damage
- Passenger Injury
- Key Replacement Cover
How To Choose Your Insurance Provider?
Buying comprehensive insurance online is a simple process. Comparing plans also helps you get the best price in the process. In fact, you can also use the online premium calculator to get a close-enough estimate of what your annual premiums might look like for different insurance plans.
Other things to keep in mind while choosing your insurance provider are the claim ratio and settlement rates, types of add-ons, cashless facility, and available network of garages.
How To Buy Comprehensive Insurance?
Once you have identified the right provider and the perfect insurance plan for yourself, the rest is like a walk in the park. Here are the general steps you would need to follow.
Step 1: Login to the insurer’s app
Step 2: Enter personal details like name, mobile number, pin code and email for customer verification (KYC).
Step 3: Enter basic details of the vehicle for which the insurance is being bought, like registration number, date and city of registration.
Step 4: Select the plan and choose any add-ons from the available list.
Step 5: Submit the application and proceed to pay from one of the several safe online payment options
That’s it. After the verification and processing of your application, your policy will be sent to you at the earliest.
Benefits of Buying Bajaj Allianz General Insurance Comprehensive Policy
When you buy comprehensive insurance, you can expect to avail several benefits such as:
- Quick and paperless application process
- Easy comparison and premium calculation
- Large number of add-ons to opt for
- Offers, discounts and more competitive rates than in the market
- Easy access to stored personal information and other policy details. This further leads to:
- Convenient online policy management
- Ease of claims intimation and seamless application and claims settlement process
- Instant policy renewal process
Comprehensive Insurance is a great way of securing yourself from the high costs that can arise if you meet with an accident while driving your vehicle. But before buying an insurance cover, you must carefully choose the insurance provider as well the medium to buy the policy from. Bajaj Allianz General Insurance is a widely acclaimed insurer that millions of Indians have put their faith in.