Buying car insurance can be very confusing for those who do not understand the nitty-gritty of the policy. While your neighbour may have the same car you do, his/her insurance policy may be very different from yours. This can throw you off balance. Especially if your premium is higher than theirs.
Hence, before you invest in a car insurance policy, it is very important to do thorough research. It is important to understand the basics, use a car insurance calculator, if required, to get a better understanding of the subject. In this article, we have compiled a list of points to be looked into before zeroing in on the best car insurance.
1. Compare the Key Features:
Compare car insurance plans and ensure you receive benefits such as own damage cover and coverage against a personal accident as well as injuries succumbed by a third-party. One has to evaluate the key features showcased by a car insurance company which will highlight various features offered by them.
2. Evaluate Add-on Riders:
One must select the add-on features that are most suited to one’s individual needs. The following are some of the crucial motor insurance riders available in the market:
- Engine Cover: It provides additional protection by safeguarding against additional expense incurred due to car engine damage in natural calamities such as floods.
- Third-Party Liability Coverage: Protection of the car owner against any financial liability that could be because of any bodily injury, death, and damage repair cost of a third-party vehicle.
- Roadside Assistance Cover: In the event of being stranded because of the engine failure, an accident or a puncture, one can avail roadside assistance. You can call the insurer and make a request to send a car towing van at the location.
- Zero Depreciation Cover: When zero depreciation cover is added, the depreciation on substituted car parts is waived off by the insurance company. It signifies that one is eligible for getting a higher amount of claim.
- Personal Accidental Cover: Personal accidental coverage ensures financial protection to the vehicle owner against unexpected and unfortunate events that might cause physical trauma, accidental death, or permanent disability.
3. Available Reviews:
One must consult with others regarding their experience with a specific motor insurance company. If you are planning to buy car insurance online, you can check reviews of existing customers too. This will help you make an informed decision.
4. Compare Insurance Premium Online:
While comparing car insurance plans and their premiums online, analyse the following aspects:
- Compare various insurance plans offered by different insurance providers. But, don’t end up comparing apples with oranges. The insurance for a light motor vehicle would differ from a sedan.
- Ensure that the few sites compute the premium on the fixed IDV (Insured Declared Value).
- Compare the insurance premium on various websites.
Car insurance is vital, not just for your car’s protection, but for your safety too. So, do an evaluation and avail a flexible policy. You will be benefited the most with a car insurance policy that fulfills all your needs.