Considerations When Choosing Online Car Insurance

The Internet has made a substantial change to our daily lives. Today almost everything can be purchased online and same is the case with car insurance. But before you jump online and buy insurance cover for your car, here are some of the things you might want to consider.

Research

Doing homework and having knowledge helps us understand the product better. Car Insurance is not complicated at all, but having knowledge of the basic components of the car insurance is always an advantage before you buy. Car Insurance comes in two types: third-party cover and comprehensive (own damage) cover. The Third-party car insurance is the minimal requirement as per the Indian law that any car owner needs to have in order to run the car on Indian roads. Comprehensive car insurance offers third-party cover along with own damage cover. This means, if in an accident, your car also suffers a damage, then the insurance company will compensate you for the loss and also take care of the third-party liability. Industry experts strongly recommend to get comprehensive car insurance as the extra premium you pay for own damage cover, on top of the third party. It is very nominal in comparison to the benefits of complete coverage you get for your car. When you do your research, you get to know these important points that will benefit you when taking a car insurance policy.

Shop Around

Gone are the days when you had to stand in long queues to get your auto insurance policy. Today, within minutes you can get your car insurance policy. Today, almost all major car insurance companies have a presence online. Buying online car insurance  has changed a lot in the past few years for the Indian market. But, before you make your purchase you should check the offering from different car insurance companies to ensure what are the different features and benefits that are being offered by various car insurers. One of the best ways to compare the car insurance policies is to go on a web aggregator website like Coverfox.com. Once you put in details of your car and previous policy number on Coverfox.com, it will automatically give you many different options of car insurance policies offered by various insurers. You can compare the benefits offered along with price and select the best deal for your car.

5 Brilliant Ways to Use Car Insurance

Stay clear of the law

As auto insurance is mandatory as per the Motor Vehicles Act, 1988 your valid car insurance helps you avoid getting any fines related to car insurance. As the technology is progressing, soon, number plates will be scanned by the traffic camera and anyone found with expired or no insurance will have to face the penalty and action by the traffic department. This technology already exists in other developed countries and might get implemented in India soon like speed cameras.

Peace of Mind

Having a valid car insurance enables you to drive your car with complete peace of mind, especially in busy metro cities where risk of getting your car damaged is more. With car insurance, you will always be at peace of mind that you have comprehensive insurance cover to take care of any damage or even liability arising out of the third party car insurance.

Customise coverage

Today, car insurance can be customised as per your individual requirements with different add-ons available which can be attached to the base policy for extra premium. Some of the examples of add-ons are road side assistance – if your car breakdown in middle of road, NCB protection – to protect your no claim bonus or even free key replacement etc. These add-ons come in handy for enhancing coverage and give you convenience and extra coverage to your comprehensive car insurance cover. So get these add-ons appropriately and make full use of your car insurance.

Network garage

Car insurers are offering hassle free claim process of getting your car repaired at a network garage. In case of claim, all you need to do is get your car to the network garage and the bill will get directly settled with the insurance company, saving you a lot of paperwork and  going through all other troubles. You can make sure that your car insurer has tie-up with a garage of your choice where you can avail this useful service.

IDV  

One of most important part of your car insurance is IDV (Insured Declared Value). You need to ensure that IDV of your car on the insurance policy matches the current market value. In case of total damage or theft, you can use your car insurance IDV to get a fair claim amount and it will make life easy for you to get a replacement car.

Other Tips

Voluntary deductibles

You can get a premium discount if you choose voluntary deductible in your car insurance policy. Voluntary deductible represents that portion of the claim which you undertake to pay from your own pocket. For every claim, the company would deduct the voluntary deductible from the admissible amount before settlement. Since you choose to bear a burden of the claim, you get a premium discount. If you are an experienced driver, you can choose a high voluntary deductible but ensure you don’t have to pay too much out of your pocket during claims.

Look for discounts

Car insurance policies give you various types of discounts on premium. If you buy online, you get a discount as no agent fee is involved. If you install safety devices approved by AAI in your vehicle, you can get a discount. There is also a discount if you are a member of a recognized automobile association and so on. So, explore these different discount options. Choose an appropriate plan where you can avail all these discounts so that you can save maximum on your car insurance premium payable.

After taking into consideration the above points, be rest assured of getting a fantastic deal on your car insurance online. With a little bit of research and effort online, you can become an expert yourself on getting a good car insurance deal and then you can even help your friends and family members or just share the article with them! After all, sharing is caring…