Vehicle insurance or motor insurance is an insurance policy meant for four-wheelers, two wheelers, commercial vehicles and other road vehicles. Motor insurance protects the insured vehicle against the loss or damage caused due to accidents and natural disasters.

So, vehicle insurance is essential for all vehicle owners in India as it allows you to drive worry-free by covering your repair expenses and be legally compliant.

Motor insurance, also called auto insurance, is the type of insurance that protects you and your vehicle (car/bike/commercial vehicle) from financial losses and damage like natural calamities, thefts, burglaries, malicious acts and accidents. There are 3 types of motor insurance in India.

Well, there’s no running away from this! As per the Motor Vehicles Act 1988, it is mandatory for all vehicles in India to have at least a Third-party Liability Policy to drive/ride legally. Additionally, if you equally (or more so) care about your vehicle, it is important to have a Comprehensive Policy in place as well.

Here’s why it is important to get a motor insurance policy in India:

• To drive/ride legally
• To financially protect any third party from damage caused by your vehicle in unforeseen situations.
• To protect and cover your vehicle in case of natural calamities, fire, theft and malicious activities.
• To protect yourself from losses caused by external property damage.
• To protect and compensate your family in the case of an accidental death.

Note: Benefits may differ based on the plan you choose. To ensure you're entitled to all the benefits, it’s best to purchase the Comprehensive Plan.

With Digit Insurance, you can buy auto coverage in just a few steps and that too without a load of documents or paperwork. Just furnish these to get vehicle insurance in a few minutes: 

• Vehicle Registration Certificate
  
• Previous year vehicle insurance policy, if applicable
  
• Any of these documents for KYC verification - PAN/Aadhar/DL/Voter ID/Form 16/Passport
  

Given the number of options available today. It is important to pick an insurance that is simple, reasonable, protects and covers you in all possible situations and most importantly, guarantees to settle claims as soon as possible. After all, that’s the most important part of an insurance!

Here are a few tips that will help you pick the right motor insurance online for your vehicle:

Right Insured Declared Value (IDV)

IDV is the market value of your car. Your premium will depend on this. While looking for the right motor insurance online, make sure your IDV is stated correctly.

Know more about IDV in Bike Insurance & IDV in Car Insurance

Service Benefits

Consider services such as 24x7 Customer Support, Convenient Pick-up and Drop, and Wide Network of Cashless Garages, among others. In times of need, these services matter.

Review Add-Ons

While picking the right motor insurance for your vehicle, consider the add-ons available to ensure maximum benefits.

Check the Car Insurance add-ons & Bike Insurance add-ons provided by Digit.

Claim Speed

It’s the most important aspect of any insurance. Pick a motor insurance company you know will settle claims quickly.

Best Value

From the right premium and after services to claim settlements and add-ons; pick a motor insurance that conveniently covers everything you think you will need at the best possible value.

Looking to renew your motor insurance policy with us for the first time? Here are some reasons why you should Digit for vehicle insurance renewal:

Customizable IDV

A lower IDV can significantly affect the amount you receive at the time of claim, which is why at Digit we believe in transparency by allowing you to customise your IDV as required. 

Quick and Hassle-Free Claims

Digit's online claim process is the easiest and is completed within a few minutes. With Digit, you can get your claims done easily during times of need.  

Cashless Repairs

Digit offers the option of cashless repair, which means that you won’t have to spend extra from your pocket at the time of an accident. With cashless repair feature, you can get your claimed repairs done without spending anything extra.

Large Network of Garages

To avail yourself of our cashless repair service, you need to go to our network of garages, spread all across the country. 

Doorstep Pickup & Drop

Digit also offers pickup and drop service from your doorstep, for your damaged vehicle in case it can’t be repaired in time.

24x7 Support

With Digit you don’t have to worry about day or time; we have got your back. 

To download your renewed or already active vehicle insurance policy with Digit, follow the given steps:

• Step 1: On the Digit app, go to the ‘My Policies’ tab at the bottom of the screen. You will see all your policies currently active with Digit. 
• Step 2: Now select the insurance policy for which you want to download the document. Verify all the details and click on ‘Download Policy’. Your car insurance policy document will be downloaded.

Before buying or renewing your motor insurance online, it is wise to use the premium calculator so that you can see how choosing different plans with different addons would affect your insurance premium.

Making the right adjustments and checking the final insurance premium will help you decide on the right motor insurance plan for you.

Calculate insurance premium for your vehicle using the car insurance premium calculator or the bike insurance premium calculator.

No two vehicle insurances can be the same. Your insurance premium can differ based on many factors like the kind of policy you choose (Third-Party vs Standard/Comprehensive), the make and model of your vehicle, the market value of your vehicle, the city you live in, the properties of your engine, the purpose of your vehicle (private/commercial), and of course, whether your vehicle runs on petrol, diesel or CNG.

A lower premium price can be tempting for many, but make sure you don’t incorrectly state your IDV or take in only a Third-Party Policy just because you want to save some bucks.

Here are a few other ways that can reduce your premium, without risking yourself or your vehicle:

Transfer Your Bonus

Auto insurance is connected to the owner of the vehicle and not the vehicle itself. If you’ve had motor insurance before, make sure you transfer your bonus to your new car. 

Make Use of Your NCB

NCB is the No Claimed Bonus you could receive if you haven’t made claims for the term. This then gives you a suitable discount while renewing your vehicle policy online. So, make sure you drive safely and perhaps you can also save on not claiming for the little nitty-gritties and save up for the rainy days!

Decide on a Decent Deductible

In any vehicle insurance, a deductible is the amount that will be paid by you while making a claim. So, when you’re opting for your deductible, decide on an amount you can pay comfortably rather than keeping it zero or too little. The higher your deductible, the lower your regular insurance premium. This especially works best if you know you’re a safe driver and have had a track of no claims for a while.

Don't blindly go for insurances that offer a lower premium. While comparing motor insurances online, keep the following in mind:

Service Benefits

Great services really matter in times of trouble. Make sure to evaluate services each insurance company is offering and make a sound choice accordingly. Some of the services Digit offers are Doorstep Pickup, Repair & Drop with 6 months Warranty, 24*7 Customer Care Support, Cashless at 1000+ Garages etc.

Quick Claim Settlement

The whole point of insurance is to get your claims settled! So make sure you pick an insurance company that will guarantee quick claim settlements. 90.4% of Digit’s claims are settled within 30 days! Additionally, we have a zero hardcopy policy, which means we only ask for soft copies. Everything is paperless, online, quick and hassle-free!

Check Your IDV

A lot of insurance quotes online will have a low IDV (Insured Declared Value), i.e. the market value of your vehicle. While the IDV affects your premium, it also makes sure you get the right claim at the time of a settlement. The last thing you want during a theft or damage is to find out your IDV was low/at the wrong value! At Digit, we give you the option to set your IDV while buying your motor insurance policy online.

Best Value

Finally, pick a vehicle insurance that gives you a fair combination of it all. The right price, services and of course, quick claims!

Insured Declared Value (IDV)

A vital part of motor insurance, an IDV is the Insured Declared Value of your vehicle, that will be paid out to you in case of a mishap.

It is determined based on the market value (including depreciation) of your vehicle and directly affects your premium. Since a vehicle depreciates with time, directly affecting the IDV, your premium too will reduce based on the same.

No Claim Bonus (NCB)

NCB is the No Claimed Bonus that you receive when you haven’t made any claims for the policy term, i.e. you’ve been a safe driver and therefore, your premium at renewal will be discounted by your insurer.

Know more about NCB in Bike Insurance & NCB in Car Insurance.

Zero Depreciation

Like everything in life, your vehicle parts also undergo depreciation which leads to a decrease in their value over time, this is when Bumper to Bumper or Zero Depreciation Cover in Motor Insurance helps you. 

Third Party

A third party in motor insurance refers to anyone other than the policyholder who may be affected by the insured vehicle. Third-party insurance plan covers these liabilities for damages or injuries caused by the insured vehicle.   

Compulsory Deductible

It is a fixed amount set by the insurer you must pay out of your pocket before the insurance company pays for any covered losses. A higher deductible means lower premium and vice versa. 

Voluntarily Deductible

As the name suggests, it is an additional amount that you choose to pay in addition to the compulsory deductible. Choosing a higher voluntary deductible can lower the insurance premium.  

Add-on

Add-ons in insurance are additional coverages that can be purchased along with standard insurance plan, to enhance the coverage. For example, zero depreciation, engine protection, roadside assistance, etc. They can be bought at an additional premium cost. 

Cashless Claim in Motor Insurance

If you opt to get your vehicle repaired with a Digit Authorized Repair Center, we will make the payment for the approved claim amount directly to the Repair Center. This is called a Cashless Claim feature.

However, if there are any deductibles, like a Compulsory Excess/ Deductible or any repair charges for which your insurance doesn’t cover you or any depreciation costs, that amount needs to be paid by the policyholder.

So, with this add-on cover, when your vehicle gets damaged in an accident you get the full cost of replacement at the time of claim, without deducting the cost of depreciation.