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How does IIFL car insurance policy benefit your private car?

John recently moved to India and bought his first car and used it for two good months. Later, unfortunately, he met with an accident and his car broke down. He was perplexed as he didn’t have enough knowledge about private car insurance policy and he had to bear the expenses of the damage without leaving him any choice.

What is a car insurance policy? Why is it required? How to get a private four-wheeler  insurance policy? 

These are the questions to which one should be answerable if he purchases a car or otherwise. In India, getting a four-wheeler insurance done is looked at as an option and is mandatory. The car is allowed to run only if it has an insurance policy and a valid insurance cover.

Car insurance policy.

A four-wheeler insurance policy provides maximum risk cover due to any accidental damage or damages incurred due to a third party.

There are many types of insurance policies offered in India to cover risks, such as.

  • Third-party insurance provides financial support to cover the damages and losses incurred due to a third-party person, vehicle, or property.
  • Comprehensive insurance – This is one of the most valuable types of car insurance, which holds the cover of both third-party setbacks and self-occurred damages.

Opting for a comprehensive private car insurance policy will also help cover the damages incurred due to accidents and thefts and aids the deceased family.

A guide to choosing the best car insurance policy.

Choosing the best insurance policy is as important as making a private car purchase. So, it is pivotal to make an informed choice before choosing any of the insurance policies.

A flexible renewal process, a fair saving percentage, and provision of maximum risk cover with an affordable premium rate are some factors to consider before buying a car insurance policy.

Everything about IIFL insurance.

IIFL insurance policy (India Infoline limited) is a private insurance policy company that is now a trinity of three subsidiaries providing maximum financial benefits and easing customers’ lives.

Why should one choose an IIFL insurance policy, and how is it useful?

Having collected a premium of more than 2500 Cr, IIFL is one of the best brands in the financial industry, providing insurance covers, subsidiaries, and other offers to customers. Other than that it also offers a wide range of facilities such as- 

  • Availing greater discounts to the customers.
  • Helps in finding out the best plan according to the needs of the customer.
  • It helps in getting the best premium rates.
  • Aids in getting cashless garage services.
  • Provides a good comparison of car insurances policies and increases the chances of getting a good car insurance policy for the customer.

The major envision of choosing IIFL insurance is to ensure that customers avail themselves of an easy and hassle-free insurance cover for their private car purchases. It offers effective claim assistance support and makes sure the suggestions offered are worthy enough to purchase an insurance policy.

Car insurance premium and calculation of it.

A premium is a basic amount paid to the insurance company to provide coverage that the insurer allows in his car insurance policy.

In layman’s words, it is the amount provided by the insurer to the insurance company which can revert for his usage in the long term.

The premium which is paid depends on various factors such as-

  • The model of the car was purchased.
  • The age of the car.
  • City of coverage.
  • Add on covers opted.
  • Period of coverage.

To avoid confusion between the insurer and the insurance company, policyholders offer other options of easy transactions between them. One of the options the insurers can avail for easy premium provision is the usage of an online premium calculator.

An online premium calculator is one of the most efficient tools to calculate your car insurance premium cost.

An IIFL car insurance calculator is a well-organized tool to calculate the premium amount.

The major uses of using an online premium calculator are that it is easy to use, helps in comparing with other insurance offers, and aids in planning the finances accordingly without any wastage of money.

In a nutshell.

Due to the availability of many insurance companies in India, choosing the best one can be confusing, especially for beginners. 

Like financial investments, insurance should be reviewed constantly and updated to incorporate changes to suit the needs of the policyholders to ensure hassle-free insurance benefits.IIFL acts as a boon in such cases as it provides complete guidance and walks you through the entire process of buying the best private car insurance policy, which can be completely beneficial according to your needs.


How can one pay a premium amount while buying a car insurance policy online?

Premium payment is subjected to various modes and not just cash transfer. While buying an online insurance policy, payment can be made through online mode using credit or debit cards, UPI transfer, net banking, wallet transfers.

How is IIFL insurance helpful in comparing insurance policies?

The comparison process using IIFL insurance is easy and can be done quickly by following the steps such as-.
Entering the basic criterion and credentials required on the login page.
Providing details of your previous policy if you are choosing an option for insurance renewal.
Based on the inputs, you get subjected to calls from leading insurers of your car.
You can now compare them based on add-ons, coverage, premium, IDV and choose the best policy which fits your liking and considerations.

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