
What does car insurance mean?
Car Insurance can be referred to as a contract signed between an insurance company and the car owner where the company makes sure to provide financial protection to the car owner for any unforeseen event which could lead to damage to the car.
Car insurance offers protection for your car from any kind of financial loss which could result from any unfortunate events or an accident. This agreement helps greatly in protecting the policyholder’s interest against capital loss due to damage caused to the car.
The roads are risky as well as unpredictable and this is mainly why car insurance has been made mandatory under the Motor Vehicle Act (1988), in India. It is thus important not only to own a car in order to make life easier but also to protect it on the roads in case of accidents. A car insurance policy comes in handy as it rescues financial loss by lowering the cost of damage or carrying out repairs.
How to calculate car insurance premiums?
It is always important to keep in mind the premiums that have to be paid with respect to any insurance policy. People can calculate their car Insurance premiums online with the help of a suitable web portal like Ginteja. It mainly helps in getting a fair estimate of the amount that has to be paid for the coverage. Ginteja also help in comparing different policies provided by several companies. For any further assistance you can simply write to us at help@ginteja.com or call us at 08069057777.
A Car Insurance calculator that is available online, normally asks for the car brand, the city in which the car is registered, the year of purchase with respect to the car and details of the claims made in the previous year (if applicable). These are the most common requirements but there could be others too based on the policy being applied for.
After this, the person would scan through the policies, plans and other details given by the Car Insurance Calculator and then finally make a decision. The same procedure is followed for the online calculation of the Four-Wheeler Insurance premium where after having typed the Name and Mobile Number, an OTP is provided. On typing the OTP, the person in question will get various policy premium quotes to choose from and decide on a plan that best serves their needs.
FAQs
Car Insurance can be referred to as a contract signed between an insurance company and the car owner where the company makes sure to provide financial protection to the car owner for any unforeseen event which could lead to damage to the car.
There are a number of reasons that make car insurance important. They are:
- It has become mandatory for every person owning a vehicle to have car insurance as per the Motor Vehicle Act irrespective of whether the vehicle is a commercial vehicle or a private one.
- Car insurance helps in the reduction of damage costs caused to the policyholder’s vehicle, legal liabilities, hospitalisation cost, policyholder loss of life and so on.
- Car insurance also provides cashless services which are applicable in different certified network garages.
- 24*7 road services are provided on roads by most car insurance companies in case of sudden car breakdown either online or offline.
- It offers peace of mind to car owners about unforeseen events in the future
The entire procedure could easily take 7 to 10 working days. If your old policy expires between these dates, you will be left uninsured and vulnerable to financial losses if you drive the car.
The documents required and eligibility criteria for purchasing car insurance are as follows:
- RC book
- Vehicle registration
- Driving license
- Identity proof
- PAN number
- Residence proof
- Car Insurance policy document (if any)
- Invoice for the new car
- No Claim certificate in case of already existing policy
Ginteja charges a minimal amount of approximately 784/- rupees or less for car insurance.
The following steps have to be followed while making a claim:
- The insurer must be informed about the incident.
- Lodge an FIR in case of man-made occurrences like loss or theft.
- Your vehicle must not be moved from the spot before invigilation by the surveyor.
- Your cashless service option would be available for repairing your vehicle after the completion of the survey and submission of the report by the surveyor.
- Submission of the original bill and estimated invoice for the reimbursement process.
- Documents required must be submitted like policy number or document, driving license RC, etc.
- After completion of the process, the car insurance claim would be settled.

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