Buying car insurance in India can be challenging at times. When you set out to purchase insurance, you will come across different options according to your requirement. But finding the right car insurance policy is significant. Even plan has exclusive features and has varied pricing as well. Before you choose a car insurance plan, there are some aspects that you need to keep in mind and then go ahead with your decision.
Know exactly what you need
Even before you start looking out for your vehicle’s car insurance, make sure that you are clear about what you are expecting from the insurance policy. There are majorly two types of car insurance policies available, namely Comprehensive and Third Party insurance.
As per the Motor Vehicles Act, a car owner must have at least third party insurance. This type of car insurance covers the expenses of damages caused to the third party. Damages caused to your car will not be covered under third party insurance. On the contrary, the comprehensive policy covers the third party and also the damages to your vehicle.
Third-Party insurance is a reasonable option if you want to buy basic car insurance or purchase a comprehensive plan if you own a luxury car and do not want to take any risk.
Comparing the plans on offer is also essential while purchasing car insurance. Once you know what type of insurance policy you want, you must compare the plans and products offered by different car insurance companies.
The sum insured, inclusions and exclusions must always be compared. There are many such factors like add-ons and deductibles that should be considered before purchasing a plan.
You can increase the coverage of your car insurance plan by purchasing add-ons or riders. These add-ons will cover specific damages that are not covered under the usual insurance policy. Before choosing an insurance plan, ask the car insurance provider about the add-ons available. Most add ons are available for comprehensive car insurance owners.
Know about the Claim process
The main objective of purchasing a car insurance policy is to receive immediate financial assistance from the insurance company. So, having an insurance policy with a smooth and easy claim process can be a huge advantage. You would not want your claim to be delayed, causing you to compensate for the loss from your pocket.
The reputation of the Insurance company
Before choosing a car insurance policy, you should be assured about the reputation of the insurance provider. The reputation can be identified by checking the claim settlement ratio of the insurer. You can also know about the service of the insurance company through reviews posted online by existing customers.
Read the terms and conditions well.
This is another significant step in the process of choosing a car insurance policy. Reading the terms and conditions will ensure that there is no hidden fact mentioned in the policy. The terms and conditions must always be favorable to you.
Before you purchase car insurance in India, always check the above points. If you are looking out for car insurance, we can help you with comprehensive car insurance policies.