Car Insurance

Basic details

(mentioned in your pan card)
Claims made with existing policy:
Fuel:

Car Insurance

Car Insurances are the best and efficient way to protect you and your car from financial emergencies and unexpected accidents / damage / theft / any third-party liability. Based on your Insured Declared Value (IDV) of your vehicle, the premium rate of your car insurance varies, as both the premium and the IDV are directly proportional to each other.

Benefits of Car Insurance

Car Insurance provides a wide variety of benefits which will make it worth spending for. Some of the benefits are:

  • There will be coverage by the insurer against any loss or damage caused to the insured vehicle.
  • In case of loss / damage caused by accidents, fire, theft, selfignition, explosion, lightening, riots, terrorist activities or natural calamities, there will be coverage.
  • Personal Accident cover that covers the expenses incurred.
  • Any financial liability caused by injury/ death of a third-party or damage to the property are covered by the insurer.

Eligibility/ Documents required for a Car Insurance:

  • Anyone who is not a minor or who is above the age of 18 and owns a car can purchase a car insurance for which the documentation process is minimal compared to other insurance policies.
  • A copy of your Registration Certificate (RC) has to be submitted along with the duly-filled proposal form.
  • In case of a renewal of your car insurance, the documents of your previous insurance policy has to be submitted along with the RC and the proposal form.
  • The overall information required by the insurer from the insured are:
    1. Your Name
    2. Contact Number
    3. Car Number
    4. Policy Expiry Date
    5. Existing Policy is with who (in case you already own a car insurance policy)
    6. Car Model : Car List
    7. Fuel : Petrol/Diesel/ Petrol + LPG Company fitted / Petrol + LPG Externally fitted
    8. Car Variant
    9. Year of Registration
    10. Claims made with the existing policy: Yes/No.

Always make sure that the information provided are appropriate and accurate with proper proof to avoid any termination of your car insurance policy.

Types of Car Insurance: :

These car insurance policies have to be renewed every year as these policies are valid only for a year. The 2 main classifications of these policies are: i) Third-party liability insurance & ii) Comprehensive insurance and they differ basically on their type of insurance cover they offer.

Third-party liability Insurance:

The aspects covered under this category offer only limited coverage. As suggested by its name, they provide protection only against any injury of third-party and damage to his/her property and not to any other losses to the car or the owner. According to the Indian legal system, the third-party liability insurance cover is made mandatory for all the vehicles. There are 2 basic inclusions in this policy and they are: Liabilities towards damage to third-party vehicle and personnel involved in the mishap and the 2 exclusions are:

  • Liabilities towards damage to own vehicle involved in the mishap.
  • Liabilities towards injuries to third-party personnel involved in the mishap.

Comprehensive insurance:

Unlike the other type of car insurance policy, this type offers a large amount as insurance coverage to cars which includes the third-party liability cover and own-damage cover. The latter cover offers protection to both the car and the personnel when the car is met with an accident. Comprehensive car insurance includes the following incidents to which they provide coverage:

  1. a. Damage or loss , nay , natural calamity, such as, earthquake, lightning, flood, storm and so on.
  2. b. Damage or loss caused by man-made calamities like theft, riot, strike or terrorist activity.
  3. c. Damages incurred by the vehicle while in transit through rail, water or road.
  4. d. Personal accident cover, which includes events of permanent disability or death of the driver.Some insurance companies offer the co-passengers their optional accidental insurance.

Comprehensive car insurance is known for its high premium amounts and offers a wide coverage and it is recommended that every car owner be adequately protected through this type of insurance. Some of the basic inclusions of a comprehensive coverage are:

  • Liabilities towards damage to third-party vehicle involved in the mishap.
  • Liabilities towards injuries to third-party personnel involved in the mishap.
  • Liabilities towards damage to own a vehicle in the mishap.

How To Apply For A Car Insurance at ClickLends?

As stated before, one of our key features is the fact that we possess a simple and quick online application method.

Applying for an online car insurance involves three simple steps:

Step-1: Filling of the quick form:

A quick form is the most significant prospect, for, it is required to decided who is eligible for a loan and who is not, depending upon one’s credibility and stability and also for one’s own personal information, proof and verification of information provided. In the first step, the customer needs to fill in the quick form which includes their personal and car details.

Step-2: Process of Verification and Documentation:

After the Step-1 is completed, you shall receive a call from our customer care regarding your document verification and collection of the mentioned documents (if not yet supplied). Initially, after you finish giving your personal information, our customer care will reach you through a call and will request you to present certain documents such as your Pan card, your Salary receipt and so on in order to verify the given details in the quick form. The next thing which will happen is the process of verification, where the prescribed details will be cross-checked for one last time before initiating the insurance-claiming process.

Step-3: Processing of Insurance:

Once the quick form is filled with the necessary details and once the verification process gets over, you’ll reach the last step to get your insurance amount claimed. Once the verification is done, the insurance-claiming process will start and within 24 hours and the insurance will be proceed to the respective borrower.