A Car is one of the most prized possessions for any individual. One strives to do all possible things to keep the car as good as new. Having a car insurance policy is essential to ensure the safety of your precious car. However, a car insurance that does not provide adequate coverage and benefits will not be beneficial in any manner. There are many factors that determine the effectiveness of a car insurance policy. A good car insurance policy will provide you value for money and optimal benefits, in return for the entire premium amount that you pay towards the policy. So how do you pick the best policy, from the numerous policies available in the market?
You can keep the following points in mind, before you make up your mind to purchase a car insurance policy:
1.Do A Background Check On The Company: Before purchasing a car insurance policy, make sure you visit the company website and find out information on parameters such as its claim settlement ratio, time taken to settle claims etc. It is always advisable to purchase a car insurance policy from a reputed company as the services will be reliable.
2.Compare Car Insurance Online: Many online insurance comparison websites, feature comparisons of car insurance policies from various insurance providers. Compare features such as coverage and benefits to find out the most suitable policy.
3.Determine The Type Of Coverage: Buying insurance policy with the right coverage that fits your requirements is requisite. Ensure that the policy includes both third part liability as well as own damage cover. As per the Motor Vehicles Act, only third-party liability insurance cover is mandatory for all vehicles, whereas an ‘own damage’ cover is not. It is best to opt for a comprehensive plan that provides you complete protection even of you have to pay a little bit more.
4.Opt Online Insurance: online car insurance policies are not only cheaper, but also convenient. If you choose to purchase a policy online, you can obtain your car insurance quote within minutes, by simply filling in a few details. Even procedures like car insurance renewal become much easier through the online medium.
5.Enquire About Additional Benefits: Many insurance providers provide additional benefits to the insurance holders such as “No Claim Bonus” and discounts. You can avail the no claim bonus for each claim free year of insurance. Even if you decide to purchase a new car, the NCB can be transferred and you can pay a reduced premium for your new car.
