Car insurance is a mandatory requirement for all car owners in India. It means driving a car without getting it insured can result in hefty penalties. This is the reason why the majority of vehicle owners get their cars insured right after purchasing them.
But can you get car insurance without a car? Or what is the right time to buy car insurance? Here is a short answer- you can buy a car insurance plan before taking possession of your newly purchased vehicle. This is just like using a car insurance premium calculator to estimate the premium cost before buying a car insurance policy.
For a detailed answer, keep reading the blog. Here, we will address these questions along with providing other relevant information on purchasing four-wheeler insurance.
What is the Right Time to Buy Car Insurance?
Ideally, you should buy car insurance right at the time of purchasing a new car. In fact, most motor dealers offer car insurance plans to the customers along with their purchased vehicle.
However, if you are buying a second-hand car or do not already have a car insurance policy, you must buy it before taking it on the road. If you are found with no car insurance while driving, you will have to face legal charges and heavy fines.
Can You Get Car Insurance Without a Car?
For purchasing car insurance in India, you need to provide details like your car’s make and model, registration year, location, etc.
Note that the type of coverage and premium amount will depend on your car details. So, if you have finalized your car and are all set to bring it home, you can definitely start searching for a suitable insurance scheme. Many reputed insurance providers require your vehicle registration number at the time of purchasing the insurance.
So, as you can see, buying car insurance without owning a car is difficult or next to impossible.
But there are some insurers who may allow you to buy a suitable insurance scheme without a registration number. These are often called non-owner car insurance. Since these are not widely popular types of insurance, it is recommended that you check them out if you really wish to purchase insurance without a car.
If your preferred insurance provider is reluctant to offer non-owner car insurance, you can use this time to find the best car insurance policy for yourself. But make sure you have clarity about what car want to buy. Compare multiple policies on the basis of important parameters like the type of coverage, claims settlement ratio, network garages, etc.
Can a Car Be Purchased Without Insurance?
Yes, you can purchase a car without insurance, but you can not drive if it is not insured. It is mandatory to carry at least third-party insurance when driving your four-wheeler on public roads.
Generally, when you buy a car, the dealer provides you with proof of ownership. But for taking the vehicle on the roads, you must possess an insurance scheme. The good idea is to search for both cars and the insurance schemes side by side. In fact, both require a detailed comparison to choose the best one.
What is the Fine for No Car Insurance in India?
Driving a motor vehicle without insurance in India is considered a serious violation of traffic rules and regulations. So, if you are found driving a car without insurance, you may face heavy fines.
For a first-time offense, you will be fined ₹2,000. And if you repeat this mistake, then this fine will double and increase to ₹4,000. Note that this penalty can vary from state to state. In fact, you may even attract three months of imprisonment along with a challan as a punishment for driving without car insurance.
What to Do with My Non-owner Car Insurance After Buying a Car?
The non-owner car insurance is only available for people who drive but don’t have their own vehicle. This type of insurance offers coverage similar to a standard liability plan. But it is only useful when you don’t have a car. As soon as you buy a car and receive the proof of ownership, you will need to purchase a standard car insurance policy for your vehicle.
In certain cases, buying car insurance before buying a car is possible. However, it is best to wait until you get a registration number and proof of ownership. You can use this time for searching and finalizing the best car insurance scheme for your vehicle.