Moment you get your dream car, the next thing that you want is the cover for the 4-wheeler against accidents, damages, theft, etc. The cover comes with suitable insurance policies that are broadly divided into comprehensive cover and third party insurance. Comprehensive cover protects you against damages caused to your car, while third party insurance provides cover for the damages caused to other person or property by your vehicle.
You must compare and choose a car insurer that provides normal cover with add-ons, charges premium that is affordable to you, gives you better sum assured on your premium, offers no-claim bonus (NCB) & seamless policy renewal facility, easy claim settlement, etc. While choosing the car insurer, don't compensate coverage ratio with less premium as you may have to shell out a lot in case of damage caused to expensive parts of your vehicle with less cover.
The insurance of car is done at a fixed value known as Insured Declared Value (IDV),which is derived by deducting the depreciation each year from the listed selling price of the car as well as its accessories.
You can make car insurance claim through either cashless or reimbursement. With cashless facility, you can get your car repaired at network garages of your insurer without paying anything from your pocket. With reimbursement claims, you need to pay the sum to get your car repaired at a garage of your choice and later get the reimbursement of the expenses from the car insurance company.