Skip to main content

Vehicle Insurance India

Buying Vehicle Insurance Online
 

Buying vehicle insurance is compulsory in India. There is no choice as it is mandated by the law, under the Motor Vehicles Act 1988. More than the mandate of the law, it is in the interest of the vehicle owner to have his vehicle insured. The list of benefits is long. Here are the two ways to make insurance buying more affordable and relevant. Buying motor insurance online can be much convenient way of buyin motor insurance according to the preferences of the people.

images (1)

Proper upkeep of the vehicle

You may be surprised to read this. But actually proper upkeep of the vehicle helps in making your vehicle insurance transaction more affordable. Here is how. If you adopt safe driving techniques and maintain your vehicle, the chances of accidents go down. This way, you will not be coming across damages for which you may have to claim insurance. But how does it matter? If you do not claim insurance then what is the purpose of paying for the premium?

Here you have to take a different perspective. Vehicle insurance covers risk. This coverage you can use when there is a damage for which you are expected to pay a sizeable amount of money. But if in case do not come across any such incidents, then you become eligible for No Claim Bonus (NCB).

The amount of NCB is usually between 15-25 per cent of the total payable premium. The percentage of NCB increases with the number of years you did not claim any insurance.

For example, if you are expected to pay Rs 10,000 as insurance premium and eligible for 25 per cent NCB, then you will receive a discount of Rs 2500.

Many times, it is advisable to not claim insurance if the damage is too minor and the amount of recovery is lesser than the amount of NCB.

imagesi

Go for online insurance

The online insurance industry in India is growing by leaps and bounds. The concerns of security of transaction are taken care of by the authorised online payment gateways that are run by government approved banks and financial institutions.

You may think that how come online insurance buying is connected with affordability. It is. If you buy online insurance, there are many benefits that come at your disposal.

First, that you will be able to compare different proposals in a hassle free manner. You just need to visit a few credible websites which provide online comparison and quotes from different insurance service providers.

Second, that you save a lot of time. And time is money.

Third, that you are not just relying on information supplied to you by an insurance agent who may have his own vested interest in some specific products and companies. He may make you buy a wrong product which may not suit your requirements and may be financially draining.

Fourth, that through online transactions insurance companies save a lot of cost otherwise incurred in paper work, agent commission, communication, etc. The cost savings is passed on to you in some or the other way.

Most people tend to buy vehicle insurance without comparing, this is a highly discouraged practice. Before buying insurance , insurance seeker shoukd go ahaead and dissect the insurance terms and policies and save their money and time.Websites like policyx.com provide such detailed reports of various terms and policies. 

-----------------------------------------------
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016

Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

-----------------------------------------------

Popular posts from this blog

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...

National Savings Certificate

National Savings Certificate Here's everything you need to know about the 5-year savings scheme offered by the Government This is a 5-year small savings scheme of the government. From 1 July 2016, a National Savings Certificate (NSC) can be held in the electronic mode too. Physical pre-printed NSC certificates have been discontinued and replaced with Public Provident Fund-like passbooks. What's on offer The minimum amount you can invest in them is Rs100 and there is no upper limit. Under this scheme, all deposits up to Rs1.5 lakh qualify for deduction under section 80C of the Income-tax Act, 1961. The interest earned is taxable. You can invest in multiples of Rs 100. These certificates can be owned individually, jointly and also on behalf of minors. The interest rates for all small savings schemes are released on a quarterly basis. The effective rate for NSC from 1 October to 31 December is 8%. The interest is calculated on an annual compounding basis and is given along w...

Mutual Fund Review: HDFC Index Sensex Plus

  In terms of size, HDFC Index Sensex Plus may be one of the smallest offerings from the HDFC stable. But that has not dampened its show, which has beaten the Sensex by a mile in overall returns   HDFC Index Sensex Plus is a passively managed diversified equity scheme with Sensex as its benchmark index. The fund also invests a small proportion of its equity portfolio in non-Sensex scrips. The scheme cannot boast of an impressive size and is one of the smallest in the HDFC basket with assets under management (AUM) of less than 60 crore. PERFORMANCE: Being passively managed and portfolio aligned to that of the benchmark, the performance of the index fund is expected to follow that of the benchmark and in this respect, it has not disappointed investors. Since its launch in July 2002, the fund has outperformed Sensex in overall returns by good margins.    While every 1,000 invested in HDFC Index Sensex Plus in July 2002 is worth 6,130 now, a similar amount invested in Sensex then wo...

Different types of Mutual Funds

You may not be comfortable investing in the stock market. It might not seem like your cup of tea. But you can start by investing in Mutual Funds. Many first-time investors invest in Mutual Funds. This is because they do not know how to invest in individual securities. Basic information on Mutual Funds People invest their money in stocks, bonds, and other securities through Mutual Funds. Each Fund has different schemes with specific objectives. Professional Fund Managers look after these schemes. Your Fund Manager could help you invest in a scheme that suits your financial goal. Functioning of Mutual Funds You could make money through Mutual Funds in different ways. A single Mutual Fund could hold many different stocks, bonds, and debentures. This minimizes the risk by spreading out your investment. You could earn dividends from stocks and interest from bonds. You could also earn capital by selling securities when their price increases. Usually, you could choose to sell your share any t...

IDFC - Long term infrastructure bonds - Tranche 2

IDFC - Long term infrastructure bonds What are infrastructure bonds? In 2010, the government introduced a new section 80CCF under the Income Tax Act, 1961 (" Income Tax Act ") to provide for income tax deductions for subscription to long-term infrastructure bonds and pursuant to that the Central Board of Direct Taxes passed Notification No. 48/2010/F.No.149/84/2010-SO(TPL) dated July 9, 2010. These long term infrastructure bonds offer an additional window of tax deduction of investments up to Rs. 20,000 for the financial year 2010-11. This deduction is over and above the Rs 1 lakh deduction available under sections 80C, 80CCC and 80CCD read with section 80CCE of the Income Tax Act. Infrastructure bonds help in intermediating the retail investor's savings into infrastructure sector directly. Long term infrastructure Bonds by IDFC IDFC issued an earlier tranche of these long term infrastructure bonds on November 12, 2010. This is the second public issue of long-te...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now