Last Updated on May 21, 2021 by MoneyVisual
It is mandatory to have a car insurance policy for every single car running on the road in India by Motor Act. Car insurance also provides protection against financial liability caused by accident and damage to the property.
Selecting the right car insurance policy for the car is important but every car insurance company is offering the best car insurance at an affordable price choosing the best insurance policy to become more confusing.
It can be tricky to choose the best car insurance policy in this competitive era. Below are some important points which will help you to choose the right car insurance policy for your car.
Check Coverage of Car Insurance Policy
While choosing a car insurance policy check out the coverage and features offered by insurance companies. Most of the insurance companies are providing car insurance policies with similar features and benefits. Check the IDV value of the car and claim ratio of the insurance companies. Also, check what are the things covered under the car insurance policy.
Before buying the car insurance policy know about the reputation of car insurance companies. By knowing and understanding the car insurance policy coverage one can save on car insurance premiums. So, before choosing car insurance make sure you have read the fine print of insurance policy.
Cost and Add-Ons of the Policy
Compare car insurance policy to get the idea of what are the coverage and features provided by other car insurance companies at the same price. By knowing which add-ons you need to include in your car insurance policy you can choose insurance policy at the best price.
Some private car insurers providing add-ons like 24×7 helpline, road-side assistance, and zero depreciation. You have to pay some extra premiums for these add-ons but it can give you more benefits. Look for other insurance companies that are offering car insurance policy and compare the features and benefits offered under these insurance policies.
Review Your Car Insurance Policy Time to Time
The new car comes with the anti-theft device and more safety features which can reduce your car insurance premium and car insurance provider can provide some extra discount on the insurance premium.
The mature car driver can get the car insurance policy at the lowest price or at a discounted price compare to the new driver because there is less risk with the mature driver. If you review your auto insurance policy from time to time you can adjust your insurance policy in the future.
Always check the rate from other insurance companies to make sure you are getting the right car insurance policy at the right price. The insurance company you are going to choose should have a good reputation for claim settlement.
Read the online review to know the reputation of every insurance company. Take a movement to know how long an insurance company is taking to process the claim. Check the state insurance department portal to know about the insurance company you’re going to buy insurance from.
One of the best ways to choose the right insurance policy for your car, you can ask your friends which insurance company they are recommending to you. Compare policy online for the best deal on the car insurance plan.
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Looking for any type of car insurance company must check the complaint ratio of the given insurance company. Pay attention to claim ratio, for a better understanding of claim ratio check state insurance department website, where customer complaints are listed. Complaint lodged and given resolution to the complaint by insurance company listed on the state department of insurance portal.
Get Insurance Quotes from Multiple Companies
Before deciding which car insurance policy to buy, get quotes from multiple insurance companies and compare them to know which company providing the best coverage and features at the lowest price. Get insurance quotes at least from the top 5 insurance companies. Comparing car insurance quotes online is one of the best ways to decide car insurance policy.
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Dig deep in the car insurance policy for liability coverage provided by insurance companies. Liability coverage depends on the total cost of the insurance policy. The liability cost varies from company to company. The amount quite big in some insurance policies.