Car insurance is a financial protection plan that every car owner should understand and have to suit their needs. At its core, it helps you manage expenses if your vehicle is damaged, stolen, or causes harm to another person. In India, it is mandatory to have at least a third-party car insurance policy. This ensures that if your car injures someone or damages their property, you are not personally burdened with the costs. However, relying only on third-party cover leaves your own vehicle unprotected. This is where a comprehensive four-wheeler insurance plan becomes important. It not only meets the legal requirement but also covers accidents, theft, fire, natural calamities, and personal injuries. Many people today prefer to buy car insurance online as the process is simple. You can check plans, compare car insurance quotes, and purchase or renew your policy in minutes.
SBMFA Insurance Broking Private Limited offers car insurance plans designed to suit diverse customer needs. Whether you are purchasing a new car insurance policy, renewing an existing one, or meeting the mandatory third-party insurance requirement under the Motor Vehicles Act, SBMFA Insurance provides reliable solutions. Customers can choose from a standalone own-damage policy, a legally required third-party policy, or a comprehensive car insurance plan for complete protection.
For broader protection, comprehensive car insurance is recommended as it covers third-party liabilities as well as damages to your own vehicle.
Owning a car comes with responsibility, and protecting it is just as important. Roads are unpredictable—accidents, carelessness, or unforeseen events can result in expensive damages. Whether it’s minor scratches, major collisions, or natural calamities, your car is exposed to risks every day. Car insurance safeguards you from these financial burdens, making it a must-have for every vehicle owner.
Key Reasons to Get Car Insurance
Having the right car insurance is more than just a legal requirement. It helps you protect your car, manage unexpected expenses, and drive with confidence. Here is why getting a policy matters:
A good car insurance policy means you can handle accidents or damages without worrying about delays. Quick claim support gives peace of mind when you need it most.
Repairs are more straightforward when you can visit a vast network of cashless garages, which avoids upfront payments and saves time.
Digital claim registration and document uploads make it easier to get your car repaired quickly, so minor damages do not disrupt your routine.
You can choose third-party, standalone own-damage, or comprehensive 4-wheeler insurance, depending on whether you want protection only for liabilities or also for your own car.
Add-ons like zero depreciation, roadside assistance, consumables coverage, or engine protection allow you to tailor your car insurance policy to your specific needs.
Making payments online and keeping a claim-free record can help you save on premiums. SBMFA Insurance offers a No Claim Bonus starting at 20%, which can go up to 50% after five consecutive claim-free years on the own damage portion of your policy. You can also manage your policies easily through their website or mobile app, with a fully digital and paper-free experience.
From checking car insurance quotes to buying car insurance online for a new vehicle, the entire process can be done quickly and easily.
| Key Features | Benefits |
|---|---|
| Third-Party Liability Cover | Covers injury, disability, death, or property damage to a third party, meeting legal requirements under the Motor Vehicles Act. |
| Own Damage Cover | Protects your car against accidents, theft, fire, floods, and other natural or man-made events. |
| Personal Accident Cover | Financial protection for the owner-driver in case of accidental death or permanent disability, up to ₹15 lakh. |
| No Claim Bonus (NCB) | Discounts up to 50% on renewal premiums for claim-free years, rewarding safe driving. |
| Add-ons (Zero Dep, RSA, Engine Protect, etc.) | Customise coverage with zero depreciation, roadside assistance, consumables, engine protection, and more. |
| Cashless Repairs | Access a wide network of cashless garages without upfront payments. |
| Theft & Total Loss Cover | Compensation up to the Insured Declared Value (IDV) if your car is stolen or declared a total loss. |
| IDV (Insured Declared Value) | Represents your car’s market value and maximum payable claim in case of total loss or theft. |
| Claim Assistance | End-to-end support for faster and smoother claim settlement. |
| Instant Policy Issuance | Buy or renew car insurance online in minutes with immediate policy availability. |
Types of Car Insurance in India
Covers both own vehicle damage and third-party liabilities. Protects against accidents, theft, fire, natural disasters, and man-made risks, and also covers personal injuries and medical expenses.
Mandatory under the Motor Vehicles Act, 1988. Covers damage caused to others by your vehicle but does not cover your own car or personal injuries.
Covers damage to your vehicle from accidents, theft, fire, natural or man-made disasters. Does not include third-party coverage, ideal if you already have liability insurance.
Premiums are based on kilometers driven, making it suitable for infrequent drivers. Usually starts with a base of 2,500 km, with options to add more in 1,000 km increments.
When you file a car insurance claim with SBMFA insurance broking Private Limited, submitting the correct documents helps ensure a smooth and timely settlement. The records required may vary depending on whether the claim is for cashless or reimbursement.
General Documents (All Claims):
Additional Documents Required for Reimbursement Claims
There have been several misconceptions surrounding the mandatory nature of personal accident cover. So, let us shed some light on this.
According to the Motor Vehicles Act of 1988, car owners and drivers are required to have a minimum third-party liability insurance policy. As you know, this covers expenses for third-party lives and property damages resulting from an accident.
However, the financial losses suffered by car owners and drivers due to accidents also needed serious attention. Accidents can lead to vehicle damage as well as bodily injuries, resulting in significant expenses. To reduce this financial burden, it became mandatory for car owners to have personal accident coverage. As per the Motor Vehicles Act, from January 2019, all car insurance policies must include a compulsory personal accident cover for the owner-driver.
There are two significant changes implied:
A waiver that can be offered to car owners/drivers when they have personal accident cover in their policy with a minimum insured amount of ₹15 Lakhs
The vehicle owner/driver with this personal accident cover in their policy for an existing vehicle does not need to purchase a new insurance policy for a new vehicle. Regardless of which car insurance policy you choose, you can easily include personal accident cover in your policy.
You will need to provide details such as the policy number, name of the driver, date and location of the accident, and a description of the damages to the insurer. After that, you need to call the police and file an FIR (First Investigation Report). Here is what you need to do in order to file a car insurance claim:
Here is what you need to do in order to file a car insurance claim:
STEP 1
Keep your policy number, driver’s name, license, vehicle registration, proof of insurance, and accident details (such as date, time, and location), ready before starting your claim.
STEP 2
Call the police and file an FIR if required, especially in cases of theft, major damage, or injury. Then, record the sequence of events and take photos of the damage for your insurer’s reference.
STEP 3
Log in to your insurer’s website or app and submit your claim details. Provide an accurate description of the incident and upload any requested documents or images.
STEP 4
Your insurer will guide you through the process, which may include taking your car to a network garage for inspection or repair. Keep copies of all bills and reports for your records.
STEP 5
Once submitted, monitor your claim status online. Stay in touch with your insurer for updates until your claim is settled.
You must renew your expired four-wheeler insurance as early as possible. Like we saw, the primary reason for this is to avoid legal complications, as it is illegal to drive without a valid insurance policy. Apart from this, there are two significant reasons you should renew your car insurance immediately –
To Avail Your No Claims Bonus
When you don’t renew your policy, you will lose out on the no-claims bonus you are eligible for. Your bonus accumulates over the years to fetch you good discounts and other benefits. If you don’t renew, they will lapse.
Financial Burden
Without a car insurance policy, you should bear the financial burden that stems from misfortunes like accidents or damage to your car. You will have to pay from your savings or pocket for the recovery of your car. To prevent the financial burden of any sort, renewing four-wheeler insurance is highly recommended. You can renew car insurance online seamlessly.
There are mainly two types. Third-party insurance covers damages or injuries caused to another person or their property and is mandatory by law. Comprehensive insurance provides wider protection. It covers third-party losses as well as damage to your own car due to accidents, theft, fire, or natural calamities.
If you only want to meet the legal requirement, a third-party policy will do. But if you want real financial protection for your car, a comprehensive plan is the smarter choice. It not only covers your own vehicle but also allows you to add extra covers for specific needs.
Add-ons are optional covers that enhance your policy. Popular ones include Zero Depreciation Cover, Roadside Assistance, Engine Protection, and Return to Invoice. Choose add-ons based on your car’s age, usage, and local conditions.
IDV is the current market value of your car i.e., the maximum amount your insurer will pay if your car is stolen or damaged beyond repair. A higher IDV means better compensation but also a higher premium. Setting a realistic IDV helps balance cost and coverage.
The car insurance premium is determined by several factors, including your vehicle’s make, model, age, location, engine capacity, and the type of coverage selected. Additional elements such as add-on covers, No Claim Bonus (NCB) discounts, and the chosen Insured Declared Value (IDV) also impact the final premium. Insurers evaluate these details to assess risk and calculate the appropriate premium amount.
Yes, NCB is linked to the policyholder, not the vehicle. When you buy a new car, you can transfer your NCB to the new policy and enjoy the same discount on your premium, provided you haven’t made any claims in the previous policy year.
Yes, many insurers offer a quick and paperless way to compare, select, and purchase car insurance online. You can view quotes, customize your policy, pay securely, and get the policy instantly in your inbox.
You’ll need your car’s registration certificate, a valid driving licence, previous policy details (for renewals), and address proof. When buying online, most insurers allow digital document uploads for a smooth process.
If your policy has lapsed, you can renew it online by providing your car details and previous policy number. The insurer might inspect your vehicle before issuing a new policy. It’s best to renew before expiry to avoid losing your NCB and continuous coverage.
Yes, during renewal, you’re free to switch to another insurer if you find better benefits or pricing. Your NCB and claim history can be carried over to the new policy without any loss of continuity.
SBMFA Insurance Broking Private LTD
IRDAI License No : 1137
IRDA Direct Broker Code : IRDA/DB 1243/2025
Valid till : 22/01/2029
CIN : U66220RJ2025PTC099741
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