Used Car Insurance

What Is Used Car Insurance & Its Benefits?

• Used car insurance is like a car insurance policy for second hand cars.
• It’s compulsory to have a used car insurance or else you’ll be fined or jailed.
• It pays for any losses or damages caused to your second hand car.
• It pays for both, third party losses & damages due to your used car.
• It also covers for your own second hand car losses & damages.

• As per the Motor Tariff Act, when you buy a second hand car, it’s necessary for you to have the car insurance policy transferred to your name in the next 14 days. To know how to do this connect with us & provide your car details.
• Only the 3rd party segment of the previous car insurance policy is automatically transferred within the next 14 days after buying the car.
• To transfer the ‘Own Damage’ segment, you have to register the car insurance policy on your name, as you’re the new owner.

You should buy used car insurance for the following reasons:

• Compulsory by law or else you’ll be fined or jailed.
• Protects your car from losses due to natural & man-made calamities.
• Pays for damages, losses & injuries caused to third party due to accidents.
• Pays for damages & losses caused to your car.
• Pays for medical treatment for injuries sustained by you due to an accident.

The premium of any second-hand car primarily is determined by the car’s IDV which is the car’s Insured Declared Value. The IDV depends on the age of the car. If the car is more than five yrs. old, then the Insured Declared Value is decided based on mutual consent between the two concerned parties.

To calculate the exact cost of used car insurance covering the above benefits, connect with us & provide your car details.

Before buying insurance for your second-hand car, please remember the following things;

Get A Large Insurance Cover

Don’t think of saving on your cost by paying a lower premium. A lower premium provides a small coverage. A second hand car is more vulnerable to losses & repairs due to damages. Thus, buy a large cover.

Buy The Necessary Add-On Covers

Add-on covers provide additional protection to your second hand car. Add-on covers save your extra costs. Few Add-on covers include engine protection, zero depreciation & medical cover plan.

Buy Policies With Easy & Fast Claim Settlement

Always go for an insurance company that has an easy, fast & high claim settlement ratio. Research about the claim procedure thoroughly in advance.

Know The Right Insured Declared Value Of Your Car

A vehicle’s value goes down each year by a certain percentage. At the time of purchase, contact your insurance company & know the right value of your car. This helps you learn about the insurance benefits.

Transfer The No Claim Bonus

Car owners receive a bonus for each year they don’t make a claim. While transferring insurance after purchasing the second hand car, do not forget to transfer the no claim bonus.

Follow the steps below to transfer car ownership & insurance:

• Step 1: Visit the respective RTO - Regional Transport Office of your area.
• Step 2: Fill up an application for transferring ownership of the second hand car via transferring the Registration Certificate (RC) of the used car on your own name.
• Step 3: After this, submit all the necessary documents.
• Step 4: After the RC transfer, fill in the new proposal form.
• Step 5: Next, the policy form should be submitted attaching all the essential documents to it.
• Step 6: Next step involves paying the fee required for policy transfer.
• Step 7: After this, the vehicle insurer will complete the transfer of policy to your name.
• Step 8: After the transfer is complete, do cross-check your name & details on your RC.
• Step 9: Also, check your name & details on the insurance policy.

• Form 29 & Form 30 with the previous owner’s signatures.
• The Original RC or Original Registration Certificate of the second hand car along with the purchaser’s name on it.
• The existing car insurance policy’s copy.
• An NOC received from the previous car insurance policyholder.
• The current policy document.
• New proposal form.
• Certificate of insurance.
• Proof of RC transfer & proof of the payment of the transfer fee.
• New copy of Registration Certificate (RC)
• NCB - No Claim Bonus & the difference amount.

Fast Process – We provide a user-friendly experience throughout the website. You simply have to fill in the details & we quickly present you the best insurance options as per your details. To check the best second hand car insurance plans, connect with us.

You Get All Plans At One Place – Once you fill up the form & provide us with the details, our website shows you the top plans as or your requirement. You see all the plans on the same screen & you can compare better.

You Save Money – As per your details & requirements, we help you choose the perfect second hand car insurance plans. This helps you to avoid purchasing unnecessary plans & add-ons saving your money