Auto Insurance - WHY, HOW and WHEN? | Ankur Warikoo | Buying or Renewing Vehicle Insurance in India
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- Опубликовано: 26 сен 2024
- How to pick your vehicle insurance?
What should it cover?
Should you buy zero-dep or should you not?
Explore term life insurance by Policy Bazaar: bit.ly/3eHkZrk
All of this, in Part 5 of the 6-part video series: "The Complete Guide to Buying Insurance"
In this video we will cover all the parameters you must know before buying insurance for your vehicle, what all is absolutely mandatory for vehicles in India, and most importantly, in which cases it is important to even pay a higher premium!
You can know more about both these types of insurances here:
Car insurance - bit.ly/3zclUp6
Bike/Two Wheeler Insurance - bit.ly/3gLvsR1
You can access the first 4 videos of the series here:
1. Basics of Insurance • Basics of Insurance | ...
2. Understanding Life Insurance • Understanding Life Ins...
3. Health Insurance for Parents • NEVER buy the same Hea...
4. Health Insurance for yourself • Health insurance for y...
The best part? I'll walk you through a step by step process to buy your vehicle insurance on policybazaar.com and how you can too, in a matter of a few minutes.
If you have any questions, please feel free to ask in the comments section below.
The Complete Guide to Buying Insurance is in association with PolicyBazaar.com as my knowledge partner.
#carinsurance #policy #warikoo
Click here to subscribe to my RUclips channel: shorturl.at/bizNX
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Ankur Warikoo is an entrepreneur, an angel investor, a mentor and an active public speaker.
For the past 4 years, Warikoo has been actively sharing content on RUclips, LinkedIn, Instagram, Facebook and Twitter amassing a following of 3 Million+ people.
He posts 3 Hindi and English videos every week on his RUclips channel, where he talks about entrepreneurship, how to grow in life, personal finance and failure.
Warikoo started his entrepreneurial journey in 2008. His most recent startup is nearbuy.com where he was the founder and CEO from 2015 until 2019.
Prior to that, Ankur started Groupon’s India business in 2011 and acted as the Country CEO from 2011-15, and Head of Groupon APAC from 2013-15.
An alumnus of the Indian School of Business, Ankur is an active Angel investor and mentor to several startups.
Ankur has been part of Fortune Magazine’s 40 under 40 List for India, LinkedIn India’s PowerProfiles List, LinkedIn India’s Spotlight List and India’s Top Executives under 40 list.
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The Complete Guide to Buying Insurance is in association with PolicyBazaar.com as my knowledge partner.
To browse through car insurance plans on PolicyBazaar, click here: bit.ly/3zclUp6
To browse through bike/two wheeler insurance plans on PolicyBazaar, click here: bit.ly/3gLvsR1
Sir, Now many are talking a lot about Ditto Insurance. Heard there service is extremely good to. Have you tried it? Any feedback on there products?
No one literally no one except Ankur Warikoo can explain the things so so simple. You always brought a smile on my face when you do mistake in verbal communication like two wheeler, vehicle ,four wheeler, sath so pachas , sath so paas :) . I enjoyed your all videos.
Thanks!
Exceptional timing of this video, my insurance is about get expired. Informative, please keep doing it.
Happy birthday🎉🎂
Thank you very much ankur....that was the most needed video of all time ..as no video is present on the whole net that gives comprehensive info on vehicle insurance....i was amazed to see that...but I am happy you covered this also.... you're spreading important knowledge that every citizen should know ...if anything is left about this vehicle insurance pls cover it in your next part....thank you for your efforts...❤️
app ko dhek ke, "Berlin" ke Yaad aate hai 😫😭😭😭money heist wala
Bhai zinda h vo actor 😂😂
Lmao😂
😂😂😂😂😂
Damm right !!!!😄😄
Yessss
You are educating the youth with the topics which they will need in their future. Thanks for your efforts!
04:17 Small correction: IDV is Insured's Declared Value
अंकुर भाई 2 दिन से आपके चैनल पे आया हूं और जितना देखता हूं उतना ज्यादा सिख रहा हूं , बहुत ही मीठा बोलते है आप . सबसे उत्तम यूट्यूब चैनल 👌👌
Absolutely amazed at the way you cover every sphere of requirements of common people 👏👏👏👏
Thank you for this video! But in any case of accidents or damage one has to go to the company showroom and if we have bought the insurance online, it gets bit difficult to complete the process whereas if we have renewed from the car company, it’s a hassle free process.
One more important portion of insurance is ‘Return to Invoice value’. This increases the premium but is important to consider.
Basic and begginers content but I love the fact that I see every video to ensure I am not missing on any fundamental things when I think about these topics 😄
Thanks Ankur sir for sharing this knowledge.
My personal opinion is the content can be further improved (Based on past videos where your analysis is more detailed). Return to invoice option is not covered which can be used to cover total loss/theft and keeping the IDV low hence bringing the premium down. The downside, however, needs to be further looked upon.
Learning new things is the best thing a human can do to improve their life but practical knowledge is most valuable because implementation of that information will always benefit you
Thank you Ankur sir
Hope I also provide value in my videos like you do in your videos
Recently discovered your channel through '20 books' video ..thank you for providing such valuable content to us !!
Thanks for covering the details. Comparing the quotes from insurance agents with Policy Bazaar prices I felt Policy Bazaar prices are high for the same add-ons and zero dep covers.
Nice marketing of policybazar and worst explanation of motor insurance. Please don't spread wrong information on social media. You're a good person ❤
Adulting isn't easy.....Thank you so much Ankur, for detailing these much needed life hacks (:
Absolutely loveyou sir, you are teaching me adulting in the easiest way possible. Thankyousomuch!
❤️“A room without books is like a body without a soul.”❤️
ok
I belong to the class of those watching RUclips videos every single time and yet without positive result. I heard people make alot of money out of binary,stock and forex trading,and I used to imagine how?
Understanding the market is very difficult when you have limited knowledge,after I saw the profit a friend made with Elizabeth Wilder Richardson trading services, I gave it a trial with $50,000 and I was on a whopping $80,000 just in a week.
@@kucheranraina9201
@@mooreleigh8928 search her name out on-line, you will find her info!
“”The stock market is one of the most potential places to invest your money,investing in stock is often risky which draws attention to the huge gains and losses of investors,if you can manage the risk then you can take advantage of the stock market to secure your financial position and earn money”
aap ka pronunciation kaafi behtreen hai..urdu -hindi-english words ka selection behtareen hai
Sir, just wanted to add one more driver which is equally important and that is "Return to Invoice".
Ankur is like a big brother I never had, thank you brother for everything
Thank You! Kindly make a video series on home buying processes.
Car insurance showroom se Lena chahiye ya khud online le this topic par video Banaiye sir...
Leased Car ?
YOU CAN EASILY AFFORD ANY LUXURY CAR
Reason for THIS DECISION
Thank you, Sir! your video shows me how to deal with all these things....
Kya thrid party insurance ko comprehensive insurance main update kar sakte hai?🤔🤔
Nice informative video. Cost of consumables and cost of key protection not covered. In case of 0 dep. cost Consumables like engine oil coolant break oil etc not covered until unless you buy additional packages for cost of consumables...
Also, parents often end up renewing the insurance from the car dealership without realising that year on year, the trusted dealership is just ripping them apart. About 50% of the premium goes to the dealership which is ridiculous 😭
Oh yes. That’s such a norm and is a terrible practice.
50% itna margin nahi hota mere bhai insurance me hardly 10 to 20% milta hai
Is it compulsory to renew the comprehensive plan after 1 year of car purchase the showroom is contacting and forcing me again and again to buy the comprehensive plan my THIRD party is valid till 2025
পলিসি বাজার ইনকাম করুক, ঠিক আছে। অক্ষয় কুমার ইনকাম করবে ,ঠিক আছে। Mr Warikoo ইনকাম করবে , সেটাও ঠিক আছে। ব্রোকার ১০-২০% ইনকাম,করবে ??সেটা ঠিক নয়।
You are so good in explaining things 😃
Man i really need a guy like u by my side at all times
Apse maine pehli dafa seekha loan prepayment benefit.
And today i applied it and saved almost 1 lakh rs.
Thanks
You forgot to give details of return to invoice. I’m watching this because my insurance is due sep. Thought you would be the right person to checkout.
Hi Ankur sir, just a small feedback on your video regarding IDV as i have worked for Insurance company in the past ... IDV is Insured Declared Value and not Depreciated Value ..thanks :)
Can we trust acko insurance? Is it IRDA approved?
ईश्वर न करे or God forbid is better than saying
ख़ुदा न ख़्वास्ता every time.
Information 👍
Sir ek mera swal h ki aakhir q police vehicle insurance mangti h , mai insurance krwau ya na krwau us se unko kya mtlb , kuchh v damage hoga mai khud kr skta hu to kya dikkt hai
Sir plz make a video on Which newsletters and blogs do you follow?
Real solid video made for us Indians, Appreciate the work put in, Thanks a Ton.
I've watched many videos, but my doubts always only be covered here.Thank you...
Thank you warikoo sir mein bhot confuse tha in teeno mein pr apne bhot ache se btaya or baki youtuber confuse kr de rhe the thanks for guiding keep growing
Wow sir. Bahoot2 aatcha lagai aapka video dekh k.... First time dekh ri pura clear kar diyai. ❤
Your video was really really helpful for me. Before going through this I was not at all sure about how to renew my car insurance. Thanks a lot.
Thanks for making this video. Explained it very clear. Keep doing and share your knowledge
One request Ankoorji
If possible subtitle optional rakhiye
Its actually distracting for better visuals
Thanks
Only the video I found on RUclips to get off confusion in my mind...thanks a lot...
If my vehicle meet accident then my insurance will pay for other vehicle's damage and other's vehicle insurance will pay my damage??
Today I found this meaningful video
Please make a small case sip investment setp by step video please !!!
Very amazing explanation
I only want to know
How to choose which company policy should i buy
Secondly how to check garages linked to that policy
Thank you for this informative video, I'm going to book my car insurance renewal over the internet now and not go via agents. Directly through the policy bazar, I'll get the best price.
Terrific Ankur was about to renew my car insurance and knowledge you gave in this video is gold, policy bazaar really made things easy, this is the first time I am going to use this platform, thanks again for departing this wisdom.
Thank you
This is the perfect video that I saw on you tube for bike and car insurance. Thank you 😊
The main thing is that if you renew insurance from an agent a part of profit can also be enjoyed by him, but if you do it directly with the company whole profit goes to them, pls renew insurance from agents to increase financial equality in india
Good thought, full support
❤️❤️❤️❤️❤️❤️❤️❤️Good friends, good books, and a sleepy conscience: this is the ideal life. ❤️❤️❤️❤️❤️❤️🎉🎉🎉🎉🎉
Wish you would have done this video just a day earlier.. Today itself I renewed my policy
Useful information
Good advertisement of policybazar
Thanx
The new product is zero depreciation insurance as in acko. Please comment on 1. Zero Dep insurance and 2. How safe is Acko insurance since it is a very attractive online insurance.
Sir claim reimbursement cashless hoga ya pahle paisa dena hoga
Please make a detailed video on consequential loss of motor insurance.
Hi Sir, Since all the add ons cost also depends on IDV , can we select lowest IDV and add RTI (Return to Invoice) add onn. Is this beneficial? Or selecting low IDV is bad for future.
Does I have to purchase both comphrensive and third party policy at the same time.
Hi Ankur, request you to kindly make one video on Home 🏡 Insurance complete guide
Sir pls asd Chapters to your video. It is trackable, but now it is painful to go back to and find where you have described a specific topic?
This is a suggestion 😊
Thanks sir for your valuable information
Just a food for thought, direct Mutual Funds, Direct insurances and other directs. Isn’t it eating up jobs and I know that’s the future like automation, e-commerce, etc . How can you make yourself future proof to income which is not through jobs or businesses and all. I have seen people claiming go e-commerce but how would beat Amazons or flip carts, hope if you can make video or serious on those grounds.
The way you explain things na... PERFECT
I live in a small city how will I get claim here in my city
Thank you sir
Knowledge to the point, no time wastage.
Video on smallcase brokerage charges
Agar 1 original key kho jaye aur ek ho. To insurance claim kr skte hai stolen ke time ?
Could you make a video on leasing car or bike in india if such an option is available
Policy bazar traps people by showing cheap policy rates but most of those companies create problems when we approach them for claim.
It's not as simple as they write in website.
I just had my bike insured on 11 Aug. Things are worst in my case since our family has a broker who handles everything from insurance to SIPs. Moreover, broker is always eager to find loopholes in my suggestions for investment purposes.
Gann pe laaat mar de uske
So so informative video.I am going for a renewal of insurance after some days and this is much needed one
Thankyou so much for explaining this so beautifully!!
Car insurances are the most hassled product there can be! It's such a pain to deal with these idiots!
Also, with Zero-Dep there's always a massive deductible to be paid from your pocket defeating the purpose of 'absolutely' hassle free repair. I have absolutely no trust on this product and like all financial products the experience varies for everyone.
First I was like, "ye kya bolta rehta hai,kuchbhi."
Now I'm like,"Kya perfect Insan hai ye"😂
Sorry sir your great
Hahaha. Thank you :)
@@warikoo ohh my god you saw my comment....& Replied too😳
Please make a video how to rent a car and what are different company options available in the market
Real real informative video 🤌🏻🫡🫡
Thank you Ankur
Wish you many many happy returns of the day, Happy birthday Ankur sir
Sir hum policy online lene k baad claim kese kare kunki offline mai to agent sub kuch manage kar leta hai to agar hum direct online buy kare to claim karna tedious nahi hoga?
Paid my bike insurance few weeks ago through the same party online and I saved 1000 bucks. 2500 offline and 1500 online
Hi Ankur, firstly you cover amazing content on your channel and I wish you all the success. Just one question with regards to Motor Insurance, if one has selected a high IDV should he/she also look at adding Return to Invoice.
Very useful video Sir.
What will be IDV on newly purchased two wheeler bike Ex-Showroom cost Rs.2,01,253?
Excellent presentation Sir! Love the way always how you present, that too irrespective of the length & breath of subjects!! This one channel which is always worth spending time on!!
@4:35 you missed the invoice return value add on. Ye laga kar actually cost milti hai chori ya total loss ke cases me.😊
Only 3 things - year of manufacturing , CC - cubic capacity & RTO details
Gets your facts right n- IDV means insured declared value.
only select yes in NCB detail agar koi claim nahi kiya h pure saal mai, agar koi claim kiya h toh insurance company ko declare Kare ki yes made claim in the period, warna misrepresentation hoti hai if selected/shared wrong detail in the policy
Thanks for the comments. Much appreciated.
Feel free to message on Whats/App / Text
For questions, Investment guide and tips.
✙13868984884..
Thank you for such informative video
U people posting video is very good..but some agents r depending on insurance sales and commission amount only for surviving his life along with his family...
Wow great info shared
Thank u sir very simple sorted explanation❤
Plz tell us about -pay per usage..
PSU insurers offer car insurance in least premium and have best claim settlement. They usually charge almost 40-50% less than getting insurance from dealers.
Claim settlement ratio is a vague concept to measure efficiency of an insurance company. You should instead focus on amount of claim settlement by companies. Pvt cos are known for settling small claim very swiftly and are notorious for denying (on any flimsy grounds) or under-settling big claims. So they can easily maintain good claim settlement ratio despite having far lesser amount settlement ratio.
PSUs have backing of govt and claim settlement is transparent and generous irrespective of the claim amount. They simple reason is: they have to strictly follow IRDAI guidelines and PSUs have social service as priority not brute profits. And now a days they match or even exceed the TAT( turn around time) compared to PVT companies. If you check the no of complaints against insurers in website of Ombudsman, Beema lokpal or IRDAI, private companies top the disgraceful list and govt companies are least tarnished.
Now,the question arises why dealers or online portals / web aggregators don't prefer PSUs
1) Huge commission paid by Pvt cos to dealers and online web aggregators. So, they sideline PSU insurers and charge hefty premiums from unsuspecting customers so that they can enjoy mammoth share of your premium as commission, totally flouting IRDAI rules.
2) The dealers and web aggregators have to scrupulously comply with IRDAI guidelines while dealing with PSU insurers which will reduce any foul play or unfair practices which are meant for safeguarding customers against any fraud. Remember,if your claim is stuck by dealer or Pvt cos,you are nowhere to go but in govt companies, strict compliance saves any injustice. So dealers want monopoly in their hands not yours.
Thus, you can draw the inference as to why PSU insurers should the only choice while buying insurance for your loved vehicle.
The 4 renowned PSU/ Govt insurance companies are
1) UNITED INDIA INSURANCE CO. LTD
2) NEW INDIA ASSURANCE CO. LTD.
3) NATIONAL INSURANCE CO. LTD.
4) ORIENTAL INSURANCE CO. LTD.
So, next time you buy a new vehicle,never purchase insurance from dealer instead approach PSU office and get cover for your vehicle. And whenever you renew your cover, do the same .
Drive safe.
Immense thanks for a very clear exposition of car insurance. Especially for non-Hindi speaking this is very useful as you are giving the English translation. Pl indicate whether Acko insurance is the best?
For ICICI loambard , Reply
Suggest me : I have the vehicle for the idv of 5lakh, after the 2 years, it reduced to 3 lakh, and I'm interested to pay more and claim more, if I chosen the idv for 5 lakh, will I get the complete idv value? Or the current amount after the depression value?
Easy steps -
1. Take zero dep cover
2. Opt Engine protection
3. Add No Claim Bonus