11 Jan

10 Things you must know before buying car insurance

Having your car insured is mandatory by law. It simply means you’re transferring the financial risks to the insurer. Most of the leading car manufacturers in India collaborate with major insurance providers to give you the benefit of package deals. At the same time, you’re free to choose a plan of your choice.

Here’s a list of things you must know before you zero down on your car insurance provider:

  1. Refer popular sites like policybazar.com or accuratequotes.in to get detailed information on insurance plans and policies.
  2. Since time is a constraint for most of us, you can check complete details online as all companies have their policies illustrated online.
  3. In line with the provisions of Auto Vehicle Act, choose a plan that covers third party liability in case of an accident.
  4. A comprehensive car insurance plan is ideal as it covers most of the damages along with loss by theft and injuries in case of accidents.
  5. Compare the policies and look for add-on benefits.
  6. Zero depreciation cover benefit will ensure that the company pays you the actual price of the parts that need replacement and not the depreciated value of it.
  7. A policy that comes with a host of emergency assistance services like transport arrangements, assistance on running out of fuel in case of flat tires, or low battery is an ideal choice.
  8. Be thorough with the list of exclusions before you buy a policy.
  9. Choose a company that offers flexible payment options.
  10. Look for hidden costs, if any.

Above guidelines are sure to help you save money and get adequate coverage!


 

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