How To Compare Car Insurance? : Amazing Tips On How To Compare Car Insurance For Your 4 Wheeler


3 min read

Traffic policy officials pulling over cars and bikes to check their documents is a common sight in most of the cities. And if you fail to furnish the right documents, you will receive the infamous challan. Considering the amendments made in 2019 to the Motor Vehicles Act of 1988, these challenges can hurt you a lot more than the previous ones.

The fine for driving without your car without a valid car insurance policy can set you back by INR 2000 or up to 3 months in jail and community service. And for repeated offenders, the fine amount is about INR 4000. To avoid this hefty fine and to ensure a hassle-free driving experience, it is recommended to compare car insurance online and then buy a car insurance policy.

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Compare Car Insurance

Insurance companies in the country offer up to 5 different types of car insurance policy. When you compare car insurance online, you can not only differentiate between the plans but also end up saving a considerable amount of money. Here are some amazing tips on how to compare car insurance.

Affordable Premiums

As you compare car insurance policy, one of the first points that you can look at is the policy premiums. This is irrespective of whether you are looking for new car insurance or renewal of an existing plan. Look for a policy with premiums that fit into your budget but not at the cost of coverage.

Insured Declared Value

A prominent factor to keep in mind as you compare car insurance online is the IDV. The IDV is the current market price of the car and in the event of a total loss, the insurer would pay you the IDV. A higher IDV would translate to a higher policy premium and vice versa. Individuals with older or inexpensive cars can opt for a lower IDV to reduce the policy premium.


As you compare insurance online, looking at the riders on offer. Though it is not mandatory to opt for a rider along with your policy, they can greatly enhance the policy’s coverage. To gain an advantage over other insurers, some even offer free riders along with their policies. Otherwise, you can compare insurance online to get the premiums that insurers offer for different riders.

Pay As you Drive

There are a lot of car owners who do not use or drive their cars a lot. For such individuals opting for a pay as you drive policy would be an ideal choice. When you compare car insurance you can look for the pay as you drive options. You only pay for the number of kilometers that you drive in a year and can choose from different slabs. The plan is only available as an option in a comprehensive policy.

Compare insurance online to save a considerable amount of money on premiums, pick a policy that best suits your needs, and get the most value for the money that you spend on premiums.

Also read: 10 Best Car Insurance Company in India 2022-23 with Their Claim Settlement Ratio | Documents required for car insurance policy renewal in India

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Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance, and Investment section. You can visit PayBima to Buy Insurance Online.

FAQs on Car Insurance

Can we pay car insurance online?

Online car insurance renewals are quick and convenient. You just have to enter your existing policy number and you can check the coverage details. Calculate and pay the car insurance renewal premium digitally and the policy is renewed, just like that. No need to visit the insurer's branch or look for an agent.

Which type of car insurance is cheapest?

Liability insurance is usually the cheapest level of car insurance because it only covers the costs of injuries and damages for the other vehicle if you are at fault in an accident. Cheap liability insurance is best for drivers with a paid-off vehicle who have enough savings to cover their medical and other expenses.

How much does a car insurance cost?

It started at an average of about Rs 2400 per year and now it's around Rs 4000-5000 per year.

What is zero DEP in car insurance?

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A zero dep cover is an add-on in car insurance under which we won't charge you for depreciation during the claim settlement. In simple words, you are not required to pay for the depreciation cost while making a claim.

Jul 14, 2021
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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