Patna, which is also known as Patliputra, dates back to the ancient era. It is the largest city in Bihar state, with a population of 119 million people, as of 2022. A common man may find it difficult to use public transportation due to the high population density.
Travelling by car is always preferred as the best option to travel around the city, especially when there is no organised public transport system.
As per the Motor Vehicles Act of 1988, it is mandatory to have car insurance to prevent a punishable offence.
Car insurance is often seen as an obligation by some car owners. Based on low premiums for the cost of their safety, they typically try to reduce their expenses.
Taking a car insurance service with inadequate coverage is simply playing with your life, particularly when you are travelling in a city like Patna, where the number of road accident cases has increased by 59%, as per 2022 data.
It is beneficial to have the appropriate auto insurance policy.
In the car insurance category, we have broadly two types of policies. One is Third-party and the second is Comprehensive.
It seems complicated to you, but believe it, it is not that much.
In third-party car insurance policies which are also known as Mandatory Policies, the damages related to third-party vehicles, property, personal accident cover, car theft, and death of a third-party person will be included.
However, losses resulting from owning an automobile in the event of an accident, a fire, or a natural disaster will not be covered. But in a comprehensive policy, both of these covers and the ones stated above are entirely integrated.
Now, it is quite obvious that a Comprehensive policy is better than having Third-party car insurance.
Apart from it, you can also go for more add-on coverage.
Some of the important add-ons covers include:
No Claim Bonus
Higher Insured Declared Value
Now, choosing the best car insurance rates in Patna can only be possible by narrowing down the companies based on their price, coverage inclusions, and ease of claims process.
List of best car insurance rates providers for a common person with a standard vehicle.
Universal Sompo Car Insurance Provider
With merely average pricing, Universal Sompo Car Insurance excels because of its wide coverage options, claims procedure, and guaranteed credibility with a reputable claim settlement ratio of 98.27%.
The Universal Sompo automobile insurance plans provide required personal accident coverage with the add-on of property damage.
Apart from that, they have a good customer support system, 24*7 assistance, and an instant claim settlement and purchase policy.
Raheja QBE Car Insurance Provider
If you're looking for affordable vehicle insurance, Raheja QBE has very reasonable rates for a variety of car insurance consumers at discounted rates.
Raheja QBE should be taken into account, because of its low number of auto insurance complaints in a year. They have maintained a claim settlement ratio of 86% which is a decent one.
Coverage Inclusions: Theft, fire, natural calamity, third-party liability, damages for transits, man-made acts, and external means.
Shriram Car Insurance Provider
Shriram auto insurance offers very affordable prices for auto insurance, making it worthwhile to investigate.
For customers to get the most out of their investment portfolio and have a high claim settlement ratio of 82.39%, the company keeps focusing on the demands of its clients, developing talent, and providing a superb platform with cutting-edge concepts.
Now before choosing low-rate car insurance in Patna, we must keep in mind some standards for selecting the best car insurance plan.
For this, we have two standards we need to focus on which are
Claim Settlement Ratio, and
The claim settlement ratio and efficiency are the benchmarks to assess the insurance provider's credibility as it gives a clear picture of a claim settled by a company and the number of claims received in a year by insurance providers.
Here are some of the key tips you should adhere to while choosing a low-rate car insurance plan in Patna:
Find the right seller
There are mainly two sources to buy an insurance plan apart from the illegals ones, insurance agents or brokers, and directly through the aggregator.
In the broker's case, they generally charge a decent amount of commission from every sale they made in particular, which often leads to unbiased promotions from their end but it is not possible in the case of aggregator and there are no commission charges involved in this process.
Choose the coverages wisely
It depends on your requirements to include add-ons with the necessary coverages. The more the coverages are, the more you will have to pay as a premium.
You should have a clear knowledge of the market price of covers prevalent in the market.
Check the legal licence
A trusted source is always a better option than just getting a low-rate car insurance plan. Always check the official presence and ensure its legality before moving forward to take a decision.
The two main standards discussed above, which are claim settlement ratio and settlement efficiency are the key signs of sound financial stability, for companies offering insurance services.
It is always advisable to know about filing an insurance claim. Even if you know all the safety measures, it is better to be prepared for the worst scenario possible. Especially when, you are doing daily up-downs in the cities like Patna.
Most of the trusted platforms do have their own mobile apps and official website to make it more convenient for you.
Filing insurance is not a complicated task, you just need to have basic knowledge of claims, relevant documents, and some steps for getting it done.
There are two types of claims which are: Cashless Claims and Reimbursement Claims.
Cashless Claims involve no initiative from the side of the insurance holder. The insurer directly settles the claim amount on the insured's behalf with the garage.
While in Reimbursement claims, the initial payment is made by the insurance holder which is eventually settled down by the insurer.
Steps for filing a reimbursement claim:
Immediately inform the insurer about the accident
Collect necessary details related to the vehicle
Details of any other party involved and any eye-witness are taken into consideration
Copy of an FIR filed should be maintained and other necessary documents are required to be submitted either offline or online.
Here is the list of documents that are required to apply for car insurance in Patna:
PAN Card or any valid Id Proof like a Passport, or Aadhaar Card.
Valid Driving Licence
Valid residential proof
Valid vehicle registration number and certificate
Any other party insurance policy disclosure.
Copy of the filled claim form and the insurance policy
Original DL and a copy of DL with RC to verify
Copy of a Police FIR
Damage repair (in the case of reimbursement claim)
and medical receipts.
You can directly pay it online through your debit or your credit card.
A comprehensive policy is best as it gives you more coverage in a single plan.
Shriram, Raheja QBE, and Universal Sompo are some of the best car insurance providers in Patna.
Average car insurance costs you Rs.2500 per year.
First-party includes an insurance holder.
The second party is the insurance provider and the third party is the one who bears the damages and the risk of the first party.
You can renew your insurance policy in the 90-days grace period from the expiry date, by informing directly to the insurance provider.
Yes, you can renew your policy after the expiry by paying the extra delay amount.