auto insurance

About us

Founded in April 2014 in Silicon Valley, Droom is India's first mobile marketplace to buy and sell new and used automobiles. The current experience of buying and selling an automobile is antiquated, completely broken and full of stress, anxiety, pain points and pitfalls. Droom is offering 21st century experience in buying and selling automobiles. With our technology driven marketplace approach, we enable transactions between two users by bringing transparency, building trust, and mitigating information asymmetry. We are very passionate about making buying and selling experience for automobiles very simple, quick and anxiety free.

Droom has a very strong and proven founding team with 75 years of combined experience in technology, Internet, E-Commerce and FMCG including 35 years in Silicon Valley alone with some of the best in breed technology companies including Microsoft, Apple and Yahoo. droom is funded by some of the leading global venture investors and the company is based out of Gurgaon, India.

Introduction

Protection is not just crucial for you; your vehicle too needs it. Is your car covered? Whether you have a new or used car, it requires an effective protection plan, so that you don’t have to bother about the overhead expenses.

auto insurance

Car is a crucial personal investment, so cover it with a great insurance plan. Auto or car insurance helps protecting your vehicle from losses that might incur while driving on unfriendly busy roads. Get your car covered against natural or man-made disasters.

Car insurance policy provides coverage in case of damage, loss caused by accident, fire, theft, riots, natural calamity, or more. You can also rely on this plan for third party financial liability caused due to injury/death or damage of property. It even offers personal accidental cover when policy is in force.

If you are a policyholder or planning to get auto insurance for your car, then make sure you review and compare other available options before renewing or buying. Different car insurance companies provide different quotations, comparing them can save up to 55% on your new or used car premium. The car premium directly depends on the IDV (Insured Declared Value) of the new or used vehicle.

Other than this every policy comes with a No Claim Bonus (NCB), which is a cumulative discount on the renewal premium for each claim free year. You can substantially save approximately 10% to 50% (depending on the policy provider terms) money through NCB.

It’s not easy to choose the right insurance plan and the best way to compare different policies is go online. You can get multiple quotes at one place along with simple comparing and customizing options. Droom.my offers buyers with broad category of insurance company providers and various plans, which are highly beneficial for them.

cheat sheet

Types of Auto Insurance

Car insurance can be divided into three categories that are defined below:

Collision Coverage: This insurance provides financial coverage against damage caused to the insured car by collision. It doesn’t cover damage due to theft or vandalism.

Third Party Liability Coverage: This insurance type offers protection against all legal liabilities to a third party when insured person is at-fault driver. It covers injury/damage to third person/property due to you (insured).

Comprehensive Coverage: This is the most extensive insurance policy preferred by maximum people. It provides protection cover in case of damage or theft, third party liability and personal accidental cover. This policy can be further extended adding other options like engine protector, medical expenses, accessory cover, and more.

Who provides it?

If you are looking forward to get your car insured, then you can get attractive policy quotations from standalone companies, different banks, or some other financial institution. You can even browse droom.my to compare multiple options and get a policy that fits your requirement and budget. You also get details about various vendors offering auto insurance to keep you and your vehicle covered.

How can I get it?

Though you can get car insurance plan through any standalone merchant, but you should opt for a verified and experienced service provider. They offer better and economical services that are worth. Apply for these services online or visit in person.

Things to remember before getting one

Car insurance proves out to be a great service on the risky roads. It can prove out to becost-effective and efficient when chosen from right vendor. Here are few points to consider before opting for one.

• Look at the actual coverage period like 6 months, annual, or more
• Different program vary widely in benefits, perks, and costs, find each of them
• Know strengths and limitations of each program
• Check coverage value and offerings provided under each (collision, third party liability and comprehensive)
• Check review and rating of the policy and vendor
• Choose which one is beneficial for your car type