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  • 5 Best Motor Insurance Policies To Buy in India

    5 Best Motor Insurance Policies

    5 Best Motor Insurance Policies To Buy in India

    In the twenty-first century, owning a vehicle is more of a need than a status symbol in India. The ownership of a vehicle indicates your financial independence, positions you in a better class of peers, and earns you the comfort that you can travel with your family.  However, the joys of owning a vehicle comes with a cost.

    If your vehicle is involved in an unfortunate accident that ends in the death or property loss of a total stranger. Or in case your vehicle is stolen, lost in a raging flood, then having a motor insurance can save you from a lot of hassles. These scenarios may be devastating, costly, and annoying. However, you can buy motor insurance to take care of all these problems.

    You can use the official GroMo application to compare the best motor insurance policies available in India. After which, you can purchase the one that fits your requirements. Moreover, you can even sell these motor insurance policies online using the official GroMo mobile application. All you need is to download the app and register to become a GroMo Partner. After which, you can sell these motor insurance policies to potential customers and earn a commission.

    Top 5 Motor Insurance Policies of 2022

    Although there are numerous motor insurance policies available in the market today, GroMo has curated a list of the top 5 Motor Insurance Policies of 2022. It is to make it easy for you to compare and buy the best insurance policy. The list of the top 5 motor insurance policies is as follows:

    1. Bajaj Allianz Car Insurance

    Since 2001, Bajaj Allianz has increased driver safety and is regarded as the finest Car Insurance Policy. They contribute to minimizing litigation costs by funding third-party legal responsibility. Their unintentional damage insurance plans offer comprehensive coverage against a wide variety of hazards and assist in emergency planning. Some of the features of this amazing insurance policy are as follows:

    • It is simple to purchase and renew
    • Their garage networks provide 24-hour support
    • They also provide a DriveSmart Telematics Service
    • Repairs are offered with their cashless claims service at no additional cost
    • They give reasonable insurance rates and allow you to transfer up to 50% of your current NCB when you renew your policy with them
    • They pay you for the costs spent when creating duplicate locks and keys under their Lock and Key Replacement insurance
    • Their Consumable Expenses coverage can assist you in ensuring that your engine is in good working order
    • Their Accident Shield add-on coverage can protect drivers and passengers from the financial consequences of accident-related death and disability

    2. New India Assurance Company Limited

    The New India Assurance Company Limited, headquartered in Mumbai, is a 100% government-run corporation of India. Having insurance commissions in 28 countries across the world. Sir Dorabji Tata created the firm in 1919, and it was nationalised in 1973 to become a subsidiary of GIC or General Insurance Corporation of India. GIC then ceded control of The New India Assurance to the government of India in 2003. For the last 40 years, the firm has been a pioneer in the non-life or general insurance area.

    You can download the GroMo app to compare the best vehicle insurance policies and buy or sell the best insurance policy offered by New India Assurance Company Limited.

    3. ICICI Lombard Car Insurance

    The ICICI Lombard Auto Insurance Policy is also well-known and widely regarded as the finest car insurance in India by a huge number of individuals. Low rates, simple renewals, and speedy claim settlement are few of the primary features of their private automobile package insurance coverage. Some of the common features of ICICI Lombard car insurance are as follows:

    • They provide simple renewals.
    • All you have to do, according to their rapid insurance function, is supply contact information and tell them about your automobile.
    • After which you can choose the right amount of coverage.
    • Once they receive your money, they will email your policy to you.
    • If you do not file any claims throughout the insurance year, you will receive a 50% premium decrease upon renewal due to their ‘No Claim Bonus’ feature.
    • They offer cashless services through their network of over 4600 garages.
    • You may purchase their roadside assistance add-on and obtain instant mechanical support by calling their toll-free number.
    • These numbers are accessible 24 hours seven days a week.

    4. Digit Car Insurance

    Digit Car Insurance is becoming increasingly popular because of its straightforward self-inspection and vehicle claim procedures. The company is also expanding as one of India's most dependable general insurance providers. Offering Third-Party Coverage and No Claim Bonus with the motor insurance policy. Here are a few advantages of Digit Car Insurance:

    • They provide policyholders special privileges like automobile pick-up, drop-off, and repair services, among other things.
    • Go Digit Car Insurance renewal is a simple and quick process.
    • They provide a streamlined claim settlement procedure, with a 96% claims resolution percentage for private automobiles.
    • The owner and driver of the insured vehicle are covered by personal accident insurance.

    5. Tata AIG General Insurance Company

    American International Group and Tata Group launched a joint venture to form Tata AIG General Insurance Company Limited. It began operations in 2001 and celebrated 20 years of service in the Indian insurance business in 2021. Tata AIG General Insurance Company is one of India's most popular private general insurance companies.

    Individuals and organisations can choose from a wide range of general insurance packages offered by the company. It provides comprehensive travel, rural, agriculture, maritime cargo, liability, personal injury, extended warranty, and other insurance coverage. Download the GroMo mobile app and select the best car insurance policy. You can sell these policies to potential customers and earn commissions.

    Conclusion

    Having motor insurance for your vehicle is mandatory in India. Therefore, above is the list of the top 5 motor insurance policies that you can buy this December. Selecting the best insurance for a car in India can be challenging at times. However, motor insurance coverage protects your vehicle from any financial losses in the case of an accident or theft. A full Car Insurance plan will cover for all your and third-party expenses.

    Vehicle owners are obliged to obtain third-party liability insurance at a minimum, but some prefer to do so in order to boost their degree of protection. In order to obtain this coverage, the insurance provider promises to cover accidental damages and theft losses. All of this in exchange for a premium payment from you. Consider purchasing a car insurance policy for your vehicle to cover any unintentional damages.

    You can download the GroMo mobile app to compare the best motor insurance policies and apply for the one that best suits your requirements. Head over to the Google Play Store or App Store to download the GroMo application. After which, you can use your KYC and bank details to become a GroMo partner and sell insurance policies to earn commissions.

    FAQ

    What are the 3 types of motor insurance?

    Private Car Insurance, Two-wheeler Insurance, and Commercial Vehicle Insurance are the 3 forms of insurance.

    How do I choose the best car insurance?

    You can download the GroMo mobile app and compare multiple motor insurance options available online to buy the best motor insurance.

    What are the benefits of motor insurance?

    In case your vehicle is damaged due to an accident, fire, or self-ignition, you are protected from damage or loss to the insured vehicle. Personal accident cover, third party liabilities, are a few of the benefits of motor insurance.

    How do I choose a motor insurance policy?

    You must compare the plans in terms of the sum covered, policy features and exclusions, the kind of add-ons available, claim procedure, deductibles, and so on. Select a plan that is cost-effective in relation to the premium you pay.

    What is insurance for vehicles?

    Vehicle insurance as the term itself is suggestive, is an insurance product that covers the financial risk of vehicle damage.

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