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Car Insurance Guide to Light Up Your Diwali 2024

Team AckoOct 25, 2024

Diwali or Deepavali is one of the biggest festivals in India. Being one of the most significant festivals in India, it is celebrated with relatives and friends with lots of fervor and enthusiasm. Sweets, the lighting of diyas or lamps, wearing new clothes, and bursting firecrackers are an integral part of this important festival.

Car

Contents

Tips to Buy Car Insurance in Diwali 2024
Car Insurance Add-ons
Car Safety Tips to Avoid Damages During Diwali 2024
Summing Up

Children and adults equally enjoy bursting crackers, attending firework displays, savouring special sweets and delicacies made especially during Diwali. Amidst all the frolic and fun, there are chances of mishaps to occur. The risk of fire and damage can never be ignored despite being cautious while handling fireworks or bursting crackers. We take the utmost safety precautions and protect our family and ourselves, but sometimes, we forget about our car and its safety. It’s not a great feeling when you see your car damaged by firecrackers. So, here is a guide that will ensure that your car is protected from damage this Diwali.

Tips to Buy Car Insurance in Diwali 2024

Are you planning to get a new car this Diwali or want to renew your existing car insurance plan? If so, then here are the tips you need to follow to get the best plan:

Compare Insurance Plans:

There are several car insurance policies in the market that come with different features and benefits. You need to understand and educate yourself about the insurance coverage offered in the market to make the most of it. It’s better to window shop before you decide on the right plan. While the traditional method of buying car insurance through a dealer is still prevalent, new-age digital insurance companies offer policies directly to customers with a host of benefits.

Buy Online

You can get car insurance online without much paperwork, and it’s a lot more stress-free, as the process of buying or renewing the policy can be done without much effort. You can also log in to your account whenever you want, download the soft copy of your insurance policy document, etc.

Choose the Right IDV

Choose an insurance company that offers the best value for money. However, make sure the Insured Declared Value (IDV) is of the correct value and check what it covers so that you and your car are well-protected from any untoward circumstances.

Select the Right Policy

As per the Motor Vehicle Act, it’s mandatory to have a third-party insurance cover of three years for your new car. But to cover your Own Damage (OD) for your car, you need to opt for the Comprehensive policy, which includes both third-party liability and OD. This means your car and the third-party are covered, and you need not worry about any financial losses.

Hence, if your car is damaged due to fireworks, a comprehensive policy can cover the damages. Please note that by having only a third party cover your car, you will not be covered for damages caused by firecrackers.

Transfer Your No Claim Bonus:

Diwali offers on cars come with several benefits. During this auspicious time, carmakers offer several discounts and benefits to customers. Make use of these offers to get the best price for your vehicle as per your budget. Also, if you are selling your old car and buying a new vehicle, take advantage of the No Claim Bonus (NCB) as the car insurance is for the vehicle but NCB is for the owner.

At the end of 3-4 years, the NCB discount can go up to 50%. Most policyholders do not know that they can transfer the NCB to the new car’s insurance policy. Ensure you take advantage of the NCB if you happen to buy your new (next) car this festive season.

Check for Discounts on Car Insurance:

Insurance companies offer discounts, especially for customers who have installed an approved anti-theft device. Also, if you are a member of an automobile association, you might be entitled to discounts on your base premium. Hence, check with your insurer if you are entitled to any discounts and take advantage of them.

Check: 8 Advantages of Buying Car Insurance Online

Cashless Claim Settlement:

When you raise a car insurance claim for damages to your car, the process is a lot easier when it’s a Cashless Claim Settlement. Choose a car insurance policy which offers you the benefit of cashless claims. It removes the hassle of reimbursement and the cumbersome claim process.

New-age insurance companies offer cashless claim settlement making it simpler and easier to get your car fixed without having to worry about initial funds to repair your vehicle. These digital insurance companies offer to pick your car, repair it at cashless garages and then deliver the car to you.

Gone are the days when you have to pay from your pocket initially and then initiate the reimbursement process. Opt for an insurance company which offers hassle-free and more value for money services.

Check Insurance Company Profile:

A quick research about vehicle insurance companies in India will let you answer questions such as ‘What is the claim settlement ratio of the company?’, ‘Is the claim process easy and hassle-free?’. Online insurance companies have made life easier with most of the work done through the power of the internet. You can either raise a claim through their website or download their mobile app to register the claim.

Car Insurance Add-ons

Now that you know how to select the best car insurance policy in Diwali 2024, here are some of the insurance add-ons that will ensure extra protection for your precious car:

Engine Protection Cover: This feature covers damages caused to your car engine. It covers repair or replacement of your engine or parts, such as connecting rods, pistons, etc. This add-on comes in handy if you have bought a new car, offering an extra layer of protection.
Bumper to Bumper Cover/Zero Depreciation: People often get dismayed when they see a slight scratch on their car. While car insurance might cover small dents and scratches, depreciation affects the value of the car and the claim amount. However, with the insurance add-on of Zero Depreciation, the insurer pays the entire cost of external damages without depreciating the value of the car.
Accessories and Fitting Cover: Customising your car to suit your style and preferences makes it unique and stand out in the crowd. And, you certainly would want to make sure these accessories or fittings are not damaged. Car accessories are valuable hence, need to be insured. Through the Loss of Accessories Add-on, accessories such as LCD TV, reverse camera, high-end music system, etc. can be covered.
Invoice Cover: The base policy covers only some liabilities; however, to cover your car comprehensively, you need an insurance policy which can compensate as close to the original value of the car. With the Invoice Cover or Protection Add-on, your car gets complete financial security. If your car is totally damaged due to fire or theft, the insurer pays you as much as the original invoice value of your car.

Car Safety Tips to Avoid Damages During Diwali 2024

Here are some basic tips to keep your car safe from damage this Diwali:

Park your vehicle in a garage or under a shelter to avoid any untoward damages from firecrackers or sparks emanating from firecrackers.
If you do not have a garage to park your car, get help from your friend who can park your car in his garage or park it in a safe commercial parking lot.
Park your car where the bursting of firecrackers is more unlikely.
Keep the windows shut to avoid any stray firecrackers entering the car and causing a fire inside as interiors are prone to catch fire.
Avoid car covers as these are not fire-resistant. A small spark can cause catastrophic damage to your car.
If people on the street are bursting firecrackers, stop your car at a safe distance and wait until it’s safe to move.
You may want to invest in a fire extinguisher. Keep it in close proximity so that it can be easily accessible when there’s a fire.
Driving under the influence of alcohol or intoxicating substances can impair your judgment skills if you have to negotiate a firecracker. It’s advisable not to drink and drive.
Keep a first-aid kit, as firecrackers can cause severe burns and accidents.

Summing Up

Thus, insuring your car offers peace of mind even if a stray firecracker causes damage to your vehicle during this festival of lights. So, ensure your car is protected with the best car insurance plan in Diwali 2024.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet; and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content and before making any insurance-related decisions.

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