Friday, August 3, 2012

List of Car Insurance Companies in India like ICICI LOMBARD

People are worried about the increase in car insurance premiums. See how, you can save money on premiums by knowing various discounts that mostly insurance companies are providing nowadays.

Nowadays, car insurance is mandatory for all vehicles. Whether you purchase a vehicle for commercial purpose or for your personal use, without insurance, you will not be able to enjoy a safe and secure driving. People today, are highly loaded with lots of responsibilities. Due to inflation, they are very conscious about spending money and do not prefer to spend extra amount without any reason. Auto Insurance companies are very much aware of this fact and for the same reason many insurance companies are offering comprehensive car insurance plans to meet their customer needs. These plans are highly flexible to make them available at substantial premium and within the reach of people. The insurance companies are also tying with automobile manufacturers to make these plans readily available to the customers at the time of purchasing of the vehicle.

Calculation of Car Insurance Premium Provided by Insurance Companies

The insurance companies in the market are providing two motor insurance plans, which are comprehensive insurance plan and third-party insurance plan. The comprehensive insurance plan provides maximum coverage for the damages that can occur to your car through natural calamities and accidents, loss, and thefts. The third-party insurance plan provides maximum coverage for damages to the car by accidents, loss and thefts.

Depending on the coverage provided by the plan, the premium to be paid varies. Insurance companies are providing valuable services by letting the new customer about rates instantly. These insurance rates vary due to various factors, which are as follows:

Making of the Car
Model of the Vehicle
Year of Registration
Place of Registration
Current showroom price of the vehicle

It also depends on whether the client is a corporate company or an individual. If the price of vehicle is more, the more premium needs to be paid.

Sometimes, an insurance company provides good discounts if the client is renewing the policy from their company after a year. If you have not claimed for insurance in any year, you can avail for the no-claim bonus as a discount at the renewal of the policy. The discount starts from 20% at the first renewal and can goes maximum up to 50 % for the subsequent years. It means that you will be saving something in the range of Rs 2000 (minimum 20% discount) on a premium of Rs 10000 for a car insurance policy.

The best government-owned companies in India are:

General Insurance
New India Assurance
Oriental Insurance
United India Insurance

Other best private companies offering motor coverage plans are:

ICICI Lombard
National Insurance Company
Bajaj Allianz
Tata AIG
Reliance General Insurance
Royal Sundaram

These insurance companies are providing various discount options by making payment of premium online. Today insurance companies are motivating this support as it saves there lot of money incur in processing of the form and other intermediate costs. You can get a chance to save 2-5 % more depending on different companies.

Many insurance companies are also providing up to 50 % discounts on premiums for the cars that are customized for disabled-people.

Car insurance companies in india are offering the best to their consumers these days. Motor plan coverage insurers in india have come up with wonderful plans keeping in mind specific requirements of their clients. Getting in touch with the best auto companies in india will let you enjoy the best.

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