Auto Insurance - WHY, HOW and WHEN? | Ankur Warikoo | Buying or Renewing Vehicle Insurance in India

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 KZbin 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 KZbin, LinkedIn, Instagram, Facebook and Twitter amassing a following of 3 Million+ people.
He posts 3 Hindi and English videos every week on his KZbin 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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[@warikoo]

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

[@LifeOfVishwas]

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?

[@d4devotion]

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.

[@anubhavsharma6488]

Thanks! Exceptional timing of this video, my insurance is about get expired. Informative, please keep doing it.

[@Trupalrc7]

Happy birthday🎉🎂

[@albertishu9066]

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...❤️

[@xijinping3267]

app ko dhek ke, "Berlin" ke Yaad aate hai 😫😭😭😭money heist wala

[@pranjalv9]

Bhai zinda h vo actor 😂😂

[@allensaji4651]

Lmao😂

[@kaustubhyashukla2237]

😂😂😂😂😂

[@rahuljabdee]

Damm right !!!!😄😄

[@theshaikhanas840]

Yessss

[@MayurPatil-oz1lz]

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.

[@mayankmangla8037]

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 😄

[@curiouspreetam]

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

[@wordofgod69]

Ankur is like a big brother I never had, thank you brother for everything

[@doshanriches1]

Adulting isn't easy.....Thank you so much Ankur, for detailing these much needed life hacks (:

[@Tony-fh3ur]

Man i really need a guy like u by my side at all times

[@KaustubhJoshi]

Thank You! Kindly make a video series on home buying processes.

[@drshahid92]

One request Ankoorji If possible subtitle optional rakhiye Its actually distracting for better visuals Thanks

[@AllFunandLessStudy]

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.

[@narendrapatel6441]

Thank you

[@JayShankarpure]

Sir plz make a video on Which newsletters and blogs do you follow?

[@PankajKumar-qi4jg]

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

[@rajanikantasingha8110]

Thank you, Sir! your video shows me how to deal with all these things....

[@rajhawaldar]

You are educating the youth with the topics which they will need in their future. Thanks for your efforts!

[@pradipshendge9228]

This is the perfect video that I saw on you tube for bike and car insurance. Thank you 😊

[@suyashsingh1867]

Please make a video how to rent a car and what are different company options available in the market

[@tonykitnya6983]

Wow sir. Bahoot2 aatcha lagai aapka video dekh k.... First time dekh ri pura clear kar diyai. ❤

[@Techievsk]

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

[@durgaprasad-dz4ru]

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...

[@engineluvers1646]

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

[@onceajordan]

Good thought, full support

[@rahulbathwal4658]

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.

[@Gauravsatange]

make a video about your rented car and how much you benefit from it

[@babankumar3271]

Sir, having an incident about a claim of my car. A claim was raised with xxxx insurance company for my car damage due to theft attempt. But the problem I faced that due to non tie up of my xxxx insurance company with service centre, the whole procedure was settled too late(03 months) to deliver my vehicle after repair. So my suggestion- do insurance with the service centre where we regularly visits, best for claim settlement.

[@indianocean29]

This is mostly a useful video but you mentioned to buy the policy directly from insurance company, and then you show policy bazaar which I believe is an insurance agent.

[@vishwajeetjha56]

❤️❤️❤️❤️❤️❤️❤️❤️Good friends, good books, and a sleepy conscience: this is the ideal life. ❤️❤️❤️❤️❤️❤️🎉🎉🎉🎉🎉

[@36sudip]

ईश्वर न करे or God forbid is better than saying ख़ुदा न ख़्वास्ता every time. Information 👍

[@sparshyadav4922]

Thank you sir Knowledge to the point, no time wastage.

[@C02754]

Useful information Good advertisement of policybazar Thanx

[@vrushabhchhajed]

Leased Car ? YOU CAN EASILY AFFORD ANY LUXURY CAR Reason for THIS DECISION

[@rajasaab5454]

Does I have to purchase both comphrensive and third party policy at the same time.

[@rishi3186]

Sir there are vehicle manufacturers who's sales gone up tremendously in india duringn covid 19 and especilly in the sales of electric two wheeler

[@kamalrijal5315]

Maan lete hain ki kisiko claim lena hai to online purchase kiye hue policy me kaise karenge? Please iske bare me bhi batayein

[@funvideoswithvivek5900]

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.

[@sweetyteli3599]

Thank you Mr. Ankur Warikoo for an informative video. God bless you. I want a video on SGB. Please share your views on the revised tranche

[@MrBest_Videos]

Only 3 things - year of manufacturing , CC - cubic capacity & RTO details

[@MrBest_Videos]

Gets your facts right n- IDV means insured declared value.

[@alirao3233]

sir plzz make a case study on Tata ethical fund

[@warmachine1383]

Can you please talk about the insurance for second hand vehicles

[@rishabhbahuguna03]

Good afternoon learned a lot from this session , appreciate your experience and time for us 😊💓💓 Lots of love from Uttarakhand PS . M simply amazed how easy was that specially the terminology part 🤗 wished even any finance class was there during school time !!

[@rishabhbahuguna03]

@Pinnéd : Warikòo copycat stay away from us 😌

[@rahulacoustic0075]

Very useful video Sir.

[@raghavpathak9159]

Wow great info shared

[@sushilbasak9098]

What will be IDV on newly purchased two wheeler bike Ex-Showroom cost Rs.2,01,253?

[@kiranasm9761]

Thank you sir :) I have a small doubt here about, if i take comprehensive insurance and also if had LIC, in this case can i clime from both the policy.

[@kiranasm9761]

@Cliff Robertson hi tell me how to consult you.

[@curioussoul7500]

Thank you for such informative video

[@gauravbhatia3330]

Great content.Thankyou Sir

[@jaikumarsivalingam]

Thank you, Ankur!

[@UnderstandingFinance101]

Sir if we don't use the Insurance, can we claim For the Discount on next vehicle?

[@vikasgoyal9205]

Can I choose minimum IDV and buy return to invoice add on? That way I will pay 3000 less in insurance. Trying to understand where else IDV matters? As if I buy RTI add on then IDV does not matter

[@insuranceimpact]

Insurance Claims has a specific process to detects such loopholes . As Insurance is subject to loss compensation not profit making. And as it's a Major claim You can face complications later. So I suggest to choose IDV as per recommended slab and enjoy Peace of Mind. Stay safe !

[@Rahul.patel48]

Car par searches hai thora bahut damage bhi hai halka sa… ab mujhe insurance lena hai to le paunga ya phir pehle car completely repair karvana padega?

[@insuranceimpact]

Agar aap pehle repair karwa k Insurance loge to Future claims me dikkat nahi ayegi, Aur isi Condition me Inspection hogi to damage parts ka claim nahi milega. Thanks

[@Rahul.patel48]

@@insuranceimpact car bonnet par scratches hai ab insurance le lu to vo already damage me aajayega or vo claim nhi hoga vo to baraber hai par agar usi bonnet par usi jagah or jyada damage aa jayega to kya vo claim hoga???

[@insuranceimpact]

@@Rahul.patel48 Already damaged part dobara damage hoga to claim nahi milega. And only Latest damage is eligible for claim.

[@insuranceimpact]

@@Rahul.patel48 Aisi Kafi information hamare KZbin channel ki Motor Insurance playlist me aap checkout kar sakte hain.

[@prasundas6401]

Thank you. This information was very helpful

[@TimePass-z1z]

sir 5 saal wale insurance me bike insurance 1 saal me kitni baar jama karna hota hai?

[@ameygokhale2303]

First I was like, "ye kya bolta rehta hai,kuchbhi." Now I'm like,"Kya perfect Insan hai ye"😂 Sorry sir your great

[@warikoo]

Hahaha. Thank you :)

[@ameygokhale2303]

@@warikoo ohh my god you saw my comment....& Replied too😳

[@immusweetu]

Acko ke bare mein aap ka kya review hai

[@RadheKrishna-op1sj]

Hello sir…maine auto sweep fd karayi huee hai …kya ye sahi h?….meri samajh se auto sweep fd bura nahi hota h…pls aap guide karein…

[@Webbedcontroller]

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

[@sushmita8824]

After 1 year you should renew your OD insurance. I.e. first party insurance. You already have third party insurance for 3years

[@EraEpic_]

Hello sir why it is complusory to take vehicle insurance ....Why its not voluntary...It's up to me to gave money or not....If mera accident huwa thi mai mera bike repair kar lunga..?

[@gsd926]

Xlent .. very well explained Dear Brother....

[@sreerampillai1339]

crisp and informative...Ty

[@tensorbaba7687]

Does location matters while claiming? Like if I'm not in the state where vehicle was registered and want to claim in some other state?

[@santoshmanellu7780]

what if the dealer does not have any agreement / connect with insurance company that we have purchased?

[@sangmaaaron862]

Thank yoi Sir very much its very useful as my insurance is about to get expire but one question how do i claim if anything happens to my car because physically i cant approach them online whether they will respond or not thats what comfusing me to buy online insurance..

[@priyanshuchatuphale580]

Please share link of part 6

[@coming_out_97]

Amazing youtube channel , subscribed right away

[@digantaroy8152]

A complete guide. Thank you.

[@BoundlessYogi]

Very useful information and great way of explanation ✨

[@VinAnVlogs]

Very nice explanation!

[@ajmalalam9765]

Thank you ankur sir..sharing informative video

[@kuldiepthakuriea8397]

Sir, mera bike ki 3rd party insurance 2025 tak hai, kya abhi me comprehensive insurance le sakta hu.

[@AnkitSinghconceptofcommerce]

Sir, Policybazar has cheated me in Health insurance, do you think car Insurance should be done by policybazar?

[@sunilsuman4031]

If I have term plan, is it good to opt PA in car insurance

[@insuranceimpact]

Yes, it's worth it. You can claim both separately.

[@aashishsharma5783]

Isme aapne add ons cover nhe kiye sir

[@funtechsupport6797]

Wonderful 👍

[@yogeshaggarwal5743]

Had an accident last week total expenses came 22k they are covering 6k approx

[@amitkumar-qs5vr]

really it is very helpful for me

[@deepakbajpai8303]

Sir Personal accidental cover is compulsory or not?

[@Sathyamevajayate]

Thanks! Good info!

[@dharmanandmore8855]

Thanks a lot sir ji

[@pakandiaries]

Sir I've bought secondhand bike genuine bike the owner so humble n gentle. But now insurance of the bike expired n i want to renew but i didn't change yet the bike owners name in me. Can i renew the insurance in my name? Or not possible? Or i should renew the insurance only by the bike owner name? Please enlighten me sure 🙏

[@dhanushgowda1416]

Are all the insurance companies that's listed reliable? Can an insurance company go bankrupt?

[@tarunchaudhari5405]

Thank u sir..u 2 good

[@rajanbhattarai1753]

Hi why does self inspection video of policy bazaar not upload?

[@Sandeepppp1008]

if we are taking first party insurance so i have to take mandatory to third party? it means both insurance i have to buy or only 1st party?

[@manishsingh-ww4fg]

While renewal,if we opt any other company,do we get ncb

[@rajivkukreja4516]

Super 👍

[@open4profit178]

Thanks for the comments. Much appreciated. Feel free to message on Whats/App / Text For questions, Investment guide and tips. ✙13868984884..

[@khannnful]

But PB is also a broker right?

[@Anishaaasish]

Sir mera gadi chori ho gayi abhi mujhe kya karna hoga plese bataye....ncrb report mang raha he kaha se nikalu

[@thecuriousgyan]

Policybazar is a web aggregator in simple language they are big agents who can do bulk insurances of multiple companies. So those who says that policy bazar does not get any commission are wrong. They just showcase in this way. You can check and compare a policy price quoted by policybazar, direct company or an agent and you'll know it. Thing is they are big shark so for the first time they'll give you only a small discount which you'll not understand but it will be a bait to get the customer. Also, they are also getting money for promotion. So think before you believe blindly.

[@anuragsekhri2315]

insightful

[@sourav-paul.9951]

Sir, agar maine pehele ek company ka insurance liya aur renewal k time kisi aur campany se kya koi problem hoga kya?

[@atpidus77]

Akshay Kumar will earn, that's fine. Mr. Warikoo will earn, that's also fine. Will the broker earn 10-20% income? That's not okay, it's too much.

[@KiranChavanLMM]

I never used to miss any of your video before but last few videos haven't seen only... Cause you also started selling products in them and less of knowledge now

[@dreamz_al28]

When i renew my insurance through a different company..what will be happen to my third party transfer ..will this get transferred?

[@riddhisweety]

Can we claim bike insurance rat bite

[@shajjadmondol457]

Good video

[@badribadrinath69]

As yours is sponsor show from policy bazaar you would recommend only online purchase. Your video is biased.

[@anonymousname5685]

Bhaai apko dekha to lga Nucleya hai

[@namitlakhera1956]

Koi sa bhe motor insurance ho muje aaj le lo full discount pr na he policy bazar de paega na online na koi motor dealer or agent comission bhe less kr duga 50 percent

[@namitlakhera1956]

IDV ki full form glt hai apki

[@dharmiknaicker5566]

If both the party have third-party insurance then the game is sorted, right? 😅