Bharti AXA CAR Insurance Understanding an Online Car Insurance Quote 12 Sep 2017 Car insurance is indispensable to every car owner and driver. However, many elements of car insurance quote make it a tedious and confusing task. Car owners should not wait till their policy is about to end to get a quote. Instead, they should get quotes more often to keep updated with the value of their car. One of the best things for car owners shopping for insurance is that they can now avail an online car insurance quote. An online quote for car insurance offers you the value of the insurance while providing details on the amount of premium based on the type of coverage, the value of the car and claims among other things. However, understanding a quote is still another story. Here is some information that would simplify the elements of a quote, thus, allowing you to understand an online quote for car insurance better. Types of Car Insurances There are two primary insurance coverage policies for cars. One is Third Party Cover that only covers damage to the vehicle to a third party. The other is a Comprehensive Cover that offers insurance coverage for complete protection of the car. Elements that are common to both the covers include the vehicle’s loss and theft and vehicle damage in addition to the third party cover. Premiums – What are they and how to reduce them? Premiums are payments of an insurance policy and a highly complex web of information and clauses. Calculation of premium is based on various dependent factors and is variable depending on the risk that will be underwritten by the insurance company. Therefore, car owners must always compare car insurance quotes from different providers to get the best premiums. Factors affecting premium of car insurance that car owners should be aware of in order to understand online quotes are: Risk related to vehicle – The make of the car along with its fuel type and capacity are prime factors that are considered. Fuel type is a major factor for consideration as diesel cars have a higher premium than petrol cars. IDV and Depreciation – The IDV of a car is Insured Declared Value. It is the maximum amount the insurer would pay for a claim in case of total theft or loss. The IDV of the car depends on the depreciation of the car’s value. The value of the car decreases based on past use of the car. If a car is less than five years old, then the ex-showroom price is chosen to calculate IDV by deducting depreciation. For cars older than five years, the market value of the car is chosen. Claims – Any past assertion made for any damage or theft of the car would be covered under claims. The premium can be decreased if the insurance of the car has not been claimed. The majority of the insurance providers offer a no-claims bonus. Shopping for car insurance? Get an online quote for buying or renewing car insurance from Bharti AXA. Explore Our Products Car Two Wheeler Travel Health Bharti AXA Advantages We've raised the bar in being your Car's ideal insurance companion 3.5 MILLION ISSUES CLEARED 3800+ CASHLESS GARAGES IN INDIA 79 BRANCHES ACROSS INDIA 24/7 CLAIM ASSISTANCE Get Quote Request Call Back Category * - Select -CarTwo WheelerHealthTravelPersonal Accident Buy Renew Claim submit Disclaimer : The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Travel needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.