How to Get the Best Car Insurance Deal?
Importance of Car Insurance:
The plethora of policies available in the market may confuse a newbie buying his first car. Read the article below to get a fair insight into choosing the best insurance deal for your car.
Insurance Policies Available in the Market:
Features and Advantages of a Few Policies in the Market:
The ICICI Lombard has the following advantages:
HDFC ERGO Private Car Insurance Package Policy
Tata AIG private car insurance
- Determine the insurance requirements for your car.
- There are three types of coverage –Your liability where the damage is caused due to your fault, third party liability where the damage is caused by another driver and damage due to vandalism, theft, fire, flood etc. Ensure that the policy covers all three situations.
- If your car is parked in a parking lot then you can choose lesser coverage. If you park it in an unsafe place you may want to increase the coverage.
- The agent will ask questions to determine the kind of driver that you are. Be as truthful as possible.
- The place of your work, the distance between your office place to residence and the number of people who drive the car are all factors that you must consider before you buy a policy.
- If you have not claimed during the year of policy, you may get a discount for the next policy term. This is known as the no-claim discount. Check if this offer is available.
- Some of the insurance companies insist that repairs that your car needs have to be done at particular service centres for you to claim the repair charges. Find out more if this clause exists.
- Some of the insurers provide legal protection; reimburse damage to in-car audio equipment and personal belongings. Compare these offered by various insurance companies.
Important Points to Take Note of:
- Find out if you can get additional insurance for passengers and drives. While most of the good companies offer this facility, it is always better to ask up front.
- While declaring information on the proposal form, be as honest as possible. This will avoid complications later on.
- Whatever are the terms & conditions of the policy ensure that you get it in writing. These terms and conditions often change and the dealer selling the policy to you may not be aware of the latest changes.
- Do not fail to read the fine print. Most of the important information regarding the policy validity and other offer details are given in fine print.
- Most important of all, drive safely. The lesser the accidents that you are involved in, the lesser premium you pay over time. Remember nothing is more important than your life!