Insure your car via internet - Article Blast! Free Articles And Content For Reprint On Your Website, Newsletters and Ezines. Submit Your Articles For Free!

Insure your car via internet

Written by Carazoo Cars

Thursday, 05 June 2008

Lately, online is the solution for every Indian, whether it is a purchase sale, matrimony or even dating. Now you can even buy your auto insurance which is lot similar to buying airline tickets. The online auto insurance sales will take place in India in future years. What a convenient way, now atleast you don't have to waste your valuable time spending for auto insurance.

According to K N Bhandari, chief executive, General Insurance Council — an association of non-life insurance companies, the company is in favor of healthy price competition and are open to providing quotes to such intermediaries. There are dealers for new cars by providing such service by offering quotes from a host of companies for new car buyers. As the dealers do not see the insurance as the core area, the aggregator facility has been available only for new car owners.

Another reason why aggregators have not come forward is that, according to the IRDA regulations any entity offering products of multiple companies require broking license with fulfilling all conditions that includes setting up a new entity with a minimum capital of Rs 50 lakh.

The motor insurance rates have been cut down from 3% to 2% of the insured value of the car. The lowest interest rates are of the car value outside India is 5%.
To maintain discipline in the market, the IRDA has denied the cancellation of the old tariff governed policies and replace them with new policies. This would mean that for car-owners new products would start becoming available gradually over a 12-month period depending on their date of renewal. But looking at the insurer's version, they feel that these rates are unsustainable. With the latest cars are being launched in India, even small repairs are expected to result in large claims forcing insurers to start looking at their bottom line. You can also get the information on tie up between auto association and insurance company.

Article Source: http://www.ArticleBlast.com

About The Author:

www.carazoo.com

You are welcome to publish this article free of charge on your website, newsletter, or e-zine, provided:

You don't change the article in any way
You include the entire article, including the "about the author" box
All hyperlinks must remain intact, including email addresses, and the link to ArticleBlast.com at the bottom
In doing so you agree to indemnify the article's author, and ArticleBlast.com and its directors, officers, employees and agents from and against all losses, claims, damages and liabilities which arise out of its use
It is also recommended that you provide a courtesy copy of your publication to the author of the article