Tips On How To Choose Car Insurance
Posted on January 05,2023
Do you know, what is the reason for insuring the vehicle? Or why we should insure our vehicle with the foremost insurance company? If it is because the government of India has made it mandatory for every vehicle to have an insurance policy, then you are partially right. You know that insuring a vehicle can help in saving a lot of money, and a penny saved is a penny earned.
Having a car is not everyone’s cup of tea. Purchasing a car can be way costlier but maintaining a car is also tricky. And in case you meet with an accident or any unnatural situation, this can end up a burden on your head. For the solution, you must have the right insurance company.
Insuring a vehicle can save your time and money. The main reason for insuring a vehicle is to secure it from all the natural or man-made calamities. In case of any unwanted situation, the insurer is labile to compensate for the repair or damage to the vehicle or to the third party. And this process should be hassle-free and smooth.
For choosing the right car insurance company you must have the rightful information regarding the insurance. Here we will discuss the main feature of an insurance company, that will help you to select the right insurance company.
Choose the insurance for your car
There are two types of insurance for a 4-wheeler. You have to choose the right insurance policy for your vehicle. This is one of the most important process for you.
- Third-party Insurance: – This policy is mandatory by the Motor Vehicle Act, 1988. Under this policy the insure ensure for compensation to the loss of third party, in case of an accident with the insured vehicle.
- Comprehensive Insurance: – The insured is ensured for the compensation for the third-party and for the own damage loss. Under this policy, the insurer is liable to reimburse for the loss of the insured vehicle and also if there is third party loss.
Pick the right Add-ons
All the insurance company offers add-on on the insurance. The add-ons have a fixed premium for each and every section, so select it as per the requirement. This may add some value to your policy and will ensure your vehicle’s safety. There are various types of Add-on offered by the companies, some of them are: –
- Nil deprecation – By adding Nil deprecation to the policy, the company will offer you 100% reimbursement for the loss. You don’t have to pay for the repair of the vehicle.
- Engine Protection – Engine is one of the most important part of a vehicle. Normal policy doesn’t cover the protection for the engine. In case you want to secure your engine from perils, then you can opt for this add-on.
- Road Side Assistance (RSA) – This feature provides special services, in which the company provides you assistance on your location. Flat tyre, battery issue or small mechanical errors are covered under this add-on.
- Return to Invoice – Under this policy, the insurer ensures you for the total reimbursement on your car as per invoice. In case your vehicle theft or it went for total loss then the insurance company is liable to pay your amount which is on the Invoice.
- Personal Accident Insurance – This feature provides you with a policy, under which you are covered for personal accident insurance. This policy will reimburse for the injury that occurs to the policyholder in an accident.
Now you know which insurance you are opting for and also the add-ons, but selection f the insurance company must be done very wisely. For selecting the foremost insurance company, you must look at some of the major features they are: –
- Authorised garage – You must look for the authorized garage of the insurance company. This will help you to repair the vehicle with a cashless facility. In means, if you are repairing the vehicle in a claim process then you don’t have to pay the money of insurer. The company will direct connection with the company for the payment.
- Simple and Easy Claim settlement – The company must have a good record for the claim settlement. As this process is the backbone for insuring a vehicle, this process must be simple and smooth.
- Compare Premium – As you stitch the company the premium will vary, compare the premium before you purchase an insurance policy. You can get a better deal as per your requirement.
These are some of the major factors you can focus on before purchasing a car insurance. We hope this information will be helpful.
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