Best Car Insurance for College Students

Car Insurance provides protection to your car and is mandatory under the Motor Vehicles Act. Car Insurance plans come in two variants which include third party insurance policies and comprehensive insurance policies. The third-party insurance covers only third party damages and comprehensive insurance policies provide complete coverage to the insured vehicle including third party liability, damages caused to the insured car, and damages to the owner or diver of the insured car. Car insurance is an important step of your financial planning which prevents future financial losses in case of a car accident.

Best Car Insurance for College Students

College Students who are driving their parent’s vehicle or have brought a new car should buy a comprehensive car insurance policy as it provides coverage to the driver/owner as well as the insured car. College students have less driving experience and are prone to accidents being on higher risk. In such a case, a comprehensive car insurance plan will not only cover third party damages but also the student driving the vehicle as well as the car. Some of the best car insurance plans that are offered by various car insurance companies which are suitable for college students are discussed below.

Acko Car Insurance Plan

Acko Car Insurance provides a simple and easy process of purchase and renewal of the car insurance plans and has a claim settlement ratio of 99.61 %. It offers inexpensive Insurance plans with a wide range of add-on riders/covers to customise the plan as per the requirement of the individual. Features of Acko Car Insurance policies are as follows:

1. Offers a variety of add-on covers to enhance the coverage of the plan such as zero depreciation, No-Claim bonus, engine protection, etc
2. Provides access to cashless workshops anywhere in the country
3. The minor claims which are below Ra 20, 000 are paid out within 2 hours
4. It offers towing services at zero additional cost

Bajaj Allianz Car Insurance Plan

Bajaj Allianz Car Insurance is one of the leading insurance providers in terms of cashless settlement and customer satisfaction. It offers cashless repair services in more than 4000 workshops/garages. You can enhance the coverage with the benefit of add-on covers which can be added as per your requirement by payment of additional premium. The add-on covers offered to be added includes depreciation shield cover, key and lock replacement cover and many more. The key features of Bajaj Allianz Car Insurance policies are as follows:

1. Easy buying and renewing process with availability to be purchased or renewed online
2. Offers the facility of doorstep surveyor and 24*7 towing assistance
3. It offers package policies which protect the holder of the policy against physical damages, third party liability and personal harm
4. Instant transfer the existing no claim bonus from any insurance company ranging from 20% -50%.

Universal Sompo Car Insurance Plan

Universal Sompo Car Insurance provides complete financial protection and wider coverage at a minimal cost of the premium. It offers a facility for opting extra premium amount which includes personal accident cover, accessories cover, etc. Universal Sompo Car Insurance provides a concession for specially designed cars to handicapped and blind people. The features of Universal Sompo Car Insurance are as follows:

1. Offers immediate phone pickups as well as return calls and honest complaint address forum.
2. It offers a hassle-free process of purchase and renewal and requires minimal documentation
3. It also offers a wide range of discounts for installation of anti-theft devices, claim-free policy years, membership of automobile association and offers wider coverage benefits to the holder of the policy with extra inclusions
4. Provides customers guidance support mechanism through the SMS service or through the facility of the web.

HDFC EGRO Car Insurance Plan

HDFC Ergo Car Insurance has been recognised by IAIR as best car insurance provider in India in the year 2013. HDFC Ergo offers the holders of the policy to choose from three options of insurance cover which includes comprehensive long term policy, comprehensive car insurance (single year) and third-party insurance plan. It also offers cashless settlement over 6800+ network garages and workshops. Additional add-on covers are also offered to be added with the insurance plan to enhance the coverage of the basic car insurance policy which includes emergency assistance, return to invoice, zero depreciation, etc. Key features of HDFC Ergo Car Insurance are as follows:

1. It offers simple and fast application as well as claim settlement along with the facility of intimation through the quick response code
2. It offers overnight repair services of the insured car and limitless claim facility
3. Offers a discount on the basis of age and profession
4. It requires zero documentation for application and purchase of the policy

Tata AIG Car Insurance Plan

The car insurance plans offered by Tata AIG are designed to provide coverage of loss or damage caused to the own car, the third party, third party property and personal accident coverage for the driver/owner of the car. It also offers the holder of the policy an option to enhance the coverage of their basic car insurance plan by addition of add-on riders or covers and it offers 13 add-on covers which include tyre secure, engine secure, daily allowance, etc.  The key features of Tata AIG car insurance are as follows:

1. It offers free car pickups service to the policyholders as well as emergency roadside assistance.
2. Offers cashless settlement over a wide number of network garages and workshops
3. No-Claim Bonus Protection cover and warranty on the repairs of the insured car is also provided by the insurance company.
4. Easy application process and faster settlement of the claim which is made in 7 days.

Conclusion

At the time of purchasing a comprehensive car insurance plan for your vehicle as a college student, you should check the features and benefits offered by the insurance plan. You should also check the number of network garages, the add-on covers offered as well as the premium cost charged for the comprehensive car insurance plan. Comprehensive car insurance Policy with relevant add-on cover as per the requirement is the best car insurance for college students providing complete financial protection to the vehicle and its owner. Comparing and buying will help you select the best car insurance plan which suits your needs and requirements offering maximum coverage benefits at an affordable and nominal premium cost.