Think Twice Before Buying A Car Insurance Policy: Here’s Why

Many of us think that car insurance policy is just a protocol. While purchasing it, we never give a second thought about which one should we choose. The importance of buying a car insurance is same as buying a brand new car. Following are the things you can cover by buying a car insurance-

  • Any damage or loss in the car due to accident, theft and disasters like floods, fire, earthquake, etc.
  •  Any family member has a personal accident policy.
  •  Any damage to a third party’s accident property.
  • Any employees, unknown passenger or salaried driver.

If any injury or death of other person happens due to accident done by you.

It will better to buy a car insurance online as there are many online car insurance policies present in the market which will guide you to take the right decision. In just few simple steps, you can buy or renew a car insurance policy online quickly.

Read Also:- Points To Note Before Transferring Insurance Policy Of A Second Hand Car

To enjoy greater benefits and optimize your insurance, you must have some knowledge about car insurance. Given below are the things you must know while buying a car-insurance-

  • Insurance of third party is necessary: According to the Indian Motor Vehicles Act, 1998, choosing for a third-party insurance is now necessary. Confirm the third- party insurance if you are purchasing a vehicle for the first time and before running the vehicle on the roads.
  • Terms under third-party insurance: If any damage is caused to the third party, then this third-party insurance gives a very safety cover. A third party can be a person, property or vehicle. A third party is neither the policyholder nor the insurance company. Even if you are driving the car by yourself or with friend, family member or rented driver, and if there is any damage caused to the third party then the third-party insurance will cover the claims which may include disability, severe injury or death. Under third-party insurance, you cannot claim for the damage that is caused to your own self.
  • You must know the IDV value of your car: Your car insurance policy is connected with the IDV (insured declared value) of your car. IDV means the extreme amount that can be claimed under a car insurance policy. 
  • Give a second thought before purchasing: While purchasing a new car, your salesman might offer you an insurance plan but this does not mean that it is the best option or the cheapest. So it is necessary to give a second thought before purchasing a new car. And before purchasing an insurance product, do compare it with other insurance companies. 
  • Choose the insurance components voluntarily: It is necessary to choose for insurance components as it is the foremost way to low your car insurance premiere. So for your insurance plan, it results in lower premium.
  • Add-ons must be chosen properly: Based on your profile, pursue add-ons. Given below are some types of add-on cover:
    • NCB protector
    • Windshield glass cover
    • Depreciation waiver cover
    • Loss of baggage cover
    • Key protection cover
    • Voluntary deductible cover
    • Tyre cover

Note that, applying offline needs more documents than applying online, so applying online is the better option as you will get your policy documents on time after making payments. So it is important to read the documents properly to make sure that your policy covers all the things that are your needs.

So, while planning to purchase a car insurance policy online keep the above points in your mind to make the decision easier. Besides, there are other market options like Royal Sundaram that gives a comprehensive package policy which assures the total protection and while buying a insurance for a bike or car online it also offers many discounts.