Car Insurance in Bangladesh
Car insurance is a must but very popular to the owners of cars and other vehicles in Bangladesh to avail protection against accidents, theft and damages due to several other reasons. The Insurtech Platform of GoodHope Insure have been arranging a suitable and user-friendly platform to find out the most competitive and best deals of car insurance in Bangladesh bringing all the reputed insurance companies under a single umbrella.
GoodHope InsurTech Platform gives you the facility of comparing the costs, different options of policies and it’s benefits, and to select the perfect policy that suits your needs and budget. It’s user-friendly website and mobile app allow you getting the appropriate quotations and purchase your vehicle/ car insurance policy online instantly.
GoodHope Insure has also arranged the free claims assistance and the cashless claim settlement services as well, ensuring a hassle-free experience for it’s customers. Keep your trust on GoodHope Insure for providing the best car insurance deals in Bangladesh, including ensuring the world class customer service and trustworthy protection for your lovely vehicle.
For protecting your lovely vehicle under the best car insurance in Bangladesh contact your trustworthy insurance platform GoodHope Insure just now at 01711025165.
Importance of Car Insurance in Bangladesh
Having your vehicle/car insured is a must in Bangladesh. Car insurance ensures financial protection to your vehicles against any loss resulting from accidents, theft, damage or other unexpected events. Having car insurance is not only a legal requirement while driving it on roads, but it also offers peace of mind on the road, feeling that your car, including your family members, is covered in case of any unfortunate incident.
Financial Protection Against Losses
Car insurance or auto car insurance provides you safety from the financial burden of repairing or replacing your vehicle in the event of an accident, theft or damage due to earthquake, landslide, cyclone etc.
Legal Requirement for Driving
In Bangladesh, having a comprehensive insurance of car insurance/ motor insurance is mandatory under the Motor Vehicle Act 2018.
Types of Car Insurance Coverage
There are two main types of car insurance plans available in Bangladesh. These are: first-party or comprehensive auto car insurance package and third-party liability motor insurance. But, recently Bangladesh government has banned the third-party liability motor insurance.
First Party or Comprehensive Car Insurance Package
Comprehensive insurance package provides extensive coverages for your vehicle against different risks.
Coverage for Accidental Damages and Theft
This insurance provides coverage for losses to your vehicle due to accidents, theft, burglary or housebreaking. It also covers engine damages due to external force or any damage incurred while transiting by road, rail, inland waterway, lifts, elevator or air.
Additional Coverage Options
Comprehensive insurance policies also cover damages caused by flood, cyclone, earthquake, riot and strike.
Third Party Liability Insurance
Third-party liability insurance covers the costs associated with damages caused by your vehicle to other people, vehicles or properties.
Get back to GoodHope Insure's swift claims processing team soonest after coming from the road accident happened to you. Call 01711025165 for details.
Premium of Car Insurance in Bangladesh
Factors Affecting Determining Premium of Car Insurance in Bangladesh
Several factors influence on the costs for your car insurance. Information on these factors can help you deciding while choosing a policy.
Maker, Model and Age of Vehicle
The maker, model and age of your vehicle play the most significant role in determining the insurance premiums. Newer and costly vehicles typically need higher premiums due to their higher repairing or replacement costs.
Coverage Options Selected
The more options of coverage you choose along with the basic full insured value (F.I.V) option, the more impact will have on your ultimate payable premium.
No Claim Bonus (NCB)
All insurance companies offer the No Claim Bonus (NCB) to the policyholders who didn’t make any claim during the previous policy period. This bonus shall result in significant discounts on your new year’s insurance premium.
Driving History and Experience
Your driving record and experience are taken into account when calculating your insurance premiums. A clean driving history with no accident or traffic rules violation may lead to a lower premium volume, while the history of accidents or violations may result in higher rates.
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Benefits of Buying Insurance from GoodHope Insure
GoodHope Insure is a trusted and reliable insurance platform in Bangladesh that offers a bunch of benefits to its customers.
Easy Online Purchase Process
With GoodHope Insure, you can easily buy car insurance online through their website or mobile app. This process saves your times and efforts, giving you the feel of securing your vehicles by insurance from the comfort of your home.
Compare Policies from Top-Rated Insurers
GoodHope Insure partners with the top-rated insurance companies in Bangladesh enabling you comparing the necessary policy from different insurers in one platform. This feature helps you find the appropriate policy at a competitive price.
24/7 Customer Service and Claims Assistance
GoodHope Insure provides round-the-clock customer service and claims assistance. Our dedicated team is always available to answer your queries, and to guide you through the claims process ensuring a smooth experience for you.
Cashless Claim Settlement at Network Garages
Purchasing a policy through GoodHope Insure shall give you the chance of availing the cashless claim settlement facility at their network garages. This means that you don't have to worry about paying for repairs from your pocket, as the insurance company will settle the bills directly with the garage.
0% Interest EMI Options
GoodHope Insure offers 0% interest EMI options on car insurance premiums with selected banks’ credit cards. This facility allows you to spread the costs of your insurances over several months without paying any additional interest.
Protect your loved ones and your vehicle with car insurance from GoodHope Insure. Dial 01711025165 now.
How to Choose the Right Policy
It’s very important to select the right insurance policy for your vehicle without expending extra money. Note the below factors while choosing a policy:
Assess Coverage Needs and Budget
Figure-out your specific coverage requirements based on your vehicle, driving habits and risk profile. Determine how much you can comfortably afford to pay for insurance premiums ensuring your required coverage.
Compare Policy Features and Benefits
Carefully compare the features and benefits offered by different insurance policies that suit your needs.
Check Insurer's Financial Ability and Claim Settlement Ratio
Compare the financial strength including claim settlement ability of the insurance companies you are considering.
Understand Terms & Conditions, and Claim Processing
Before finally buy a motor insurance online, thoroughly read and understand the terms & conditions and the exclusions, so that, you may avoid any surprises when making a claim.
Don't let a car accident ruin your finances. Get insured with GoodHope Insure. Dial 01711025165 now.
Car Insurance Claim Process
While initiating the claim please follow the steps:
Inform GoodHope Insure about Accident
Immediately inform the claim team of GoodHope Insure about the incident providing necessary details such as date, time, location and nature of the loss.
Submit Required Documents
Collect and submit all required documents, such as the insurance policy, FIR (if applicable), driving license, vehicle registration and estimates of repairing, to support your claim. Our dedicated claims team will guide you through the process.
Cashless Repair at Network Garages
If you want cashless settlement, take your vehicle to one of GoodHope Insure's network garages for repairs. Insurance company or GoodHope will settle the bill directly with the garage.
Get Informed and Experience Quickest Settlement
GoodHope Insure targets providing smooth and quickest claim settlement experience to it’s customers. Our claims team will keep you informed about the progress of your claim ensuring best service experience in Bangladesh.
Accidents happen. Be prepared with car insurance from GoodHope Insure. Call 01711025165 to learn more.
People Also Ask
What is the difference between Comprehensive and Third-Party Insurance?
Comprehensive insurance package covers losses to it’s passengers and the driver, and damages to your own vehicle due to accidents, thefts or natural calamities. Whereas, a third-party insurance covers only the damages caused by your vehicle to other people, their vehicles or property.
Is Third-Party Insurance Mandatory in Bangladesh Nowadays?
No. Previously, the third-party liability insurance was mandatory for all vehicles in Bangladesh under the Motor Vehicle Act 2018. But, it is not a valid policy in our country.
How to Reduce Premium?
You can reduce your insurance premium next year by maintaining your vehicle damage-free, a good driving record, installing safety devices, un-selecting minor coverages and availing the no-claim bonuses.
Documents Required for Buying Online Car Insurance in Bangladesh
To buy car insurance online, you need to submit your vehicle registration certificate, driving license, previous insurance policy (if applicable) and National ID Card.
How to Raise a Claim?
To raise a claim, inform GoodHope Insure about the incident, follow the claim process guidelines and submit the required documents. You will get their assistance throughout the claim settlement process.
Enjoy the best car insurance deals only at Www.GoodHope.Com.BD. Protect you and your vehicle with comprehensive coverage, by easy online purchase and prompt claims assistance from a trusted platform.