Last week, Preeti Nath, a 29-year-old professor, was at the showroom to purchase her dream SUV. The formalities were done, and she was all excited to take the car to her parents. That’s when the dealer reminded her, “Ma'am, you will need car insurance before you start driving your car!”Preeti soon realised she didn’t have all the required documents. What should have been a quick process stretched into hours of back-and-forth.
This is a common mistake that several first-time car buyers commit. When planning to buy car insurance, it is essential to have all the necessary documents for the purchase. It saves you from unnecessary back-and-forth and ensures a quick policy purchase.
List of Documents Required for Car Insurance:
To purchase car insurance, you must submit a few documents to your insurer. The list of documents required for car insurance is:
1. Proposal Form
You need to submit a duly filled and signed insurance proposal form. Get it from the nearby insurance office or download it from the official website.
2. Invoice for the Car
Car owners must submit proof of vehicle ownership. The invoice is not only essential for buying car insurance, but it is also used to calculate the Insured Declared Value (IDV) of the vehicle.
Note: IDV is the amount your insurer pays if your vehicle is damaged beyond repair or stolen.
Tip: You can purchase a return-to-invoice add-on cover. It ensures you receive the invoice value of your car if it is damaged beyond repair or is lost.
3. RC Copy
A copy of the RC (Registration Certificate) book for the car is also required to purchase car insurance.
4. Identity proof
As an identity proof, you can submit your Aadhaar card, PAN card, driving license, voter ID card, or other similar identification documents.
5. Address proof
Address proof is also required for the applicant to buy car insurance in India. You may submit any of these: your Aadhaar card, voter ID card, driving license, etc.
Note: The list above mentions common documents required for new car insurance. The list may differ depending on the insurance provider!
KYC: Is it mandatory to buy Motor Insurance?
Whether you plan to buy a new car insurance policy or renew your existing one, it is mandatory to fulfil KYC requirements. As of January 1, 2023, it has become compulsory for everyone to submit KYC documents for general insurance, including motor insurance.²
How to Buy Car Insurance?
Once you have all the essential documents in order, the next step is to purchase car insurance. For a hassle-free experience, Generali Central lets you purchase car insurance online. Here are the steps you need to follow:
Step 1: Choose Insurance Type
On the home page, select “motor insurance” and specify the type of insurance policy you require for your car.
Then, click on “Buy Online” to begin your online buying journey.
Then you need to choose the type of policy you wish to purchase, which could be a third-party insurance plan, a standalone car insurance policy, or a comprehensive car insurance plan.
Step 2: Enter Details
In the next step, you need to enter the details as asked and fill in the proposal form with the correct details:
Registration number of your car
The specific make and model
The car’s year of manufacture
Previous claim details.
Add-ons that you wish to opt for
Step 3: Submit Documents
After you have completed the form, you will be required to attach the necessary documents.
Step 4: Make Payment
Finally, you must pay the premium amount to complete the process. Make use of the online car insurance premium calculator to get a fair idea of the amount you’ll have to pay.
Step 5: Policy issuance:
The policy document will be emailed to your registered email address.
You may also purchase car insurance by visiting a nearby office of your preferred insurance provider. Make sure to ask your insurer, “What documents are needed for car insurance?” before you step out to save unnecessary back and forth.
Tip: You can also buy several add-ons with a comprehensive car insurance policy to expand the coverage. Common ones include roadside assistance, zero depreciation cover, and return to invoice, among others.
Common Mistakes to Avoid when you buy car insurance:
1. Identity Proof with Outdated Details
To purchase a car insurance plan, it is essential to submit proof of identity. Remember, the details in the identity proof must be up-to-date. For instance, if you have changed your residence, the address must also be updated.
2. Mismatched Details in RC and ID
The registration certificate also contains certain personal details of the car owner. So, those details must match the identity proof details. If you have changed your name or other details, ensure that these updates are reflected on all essential documents.
3. Expired Registration Certificate
The RC, or registration certificate of your vehicle, must be updated. Outdated details or expired RC may lead to proposal rejection. Your insurer will inform you to update the RC.
4. Missing a Double Check
It is recommended to carefully review your policy proposal form before submitting it. The details in the form must match those in the documents, especially personal and vehicle details.
Tip: Planning to buy a new car? Check out some tips to buy car insurance for your brand new vehicle!
Document submission is one of the essential steps in buying car insurance. It not only helps in quick policy purchase but is also crucial for claim settlement. When you raise claims for car insurance, these documents are also a part of the process. To avoid unnecessary hassles in the future or when purchasing a car insurance policy, ensure that you submit the correct documents. When planning to buy car insurance, ensure you understand the required documents. A checklist of documents helps in quickly fulfilling the formalities.
At Generali Central, we ensure you get the best car insurance! Connect with us to find the most suitable policy for you.
