How to Find the Right Policy Through Careful Car Insurance Comparisons

by Bhargav Baweja CMO Marketing

Every year, you can find new car models being released by car manufacturers who have caught the interest of buyers and results in huge sales all across the country. This influx of vehicles on the road has also increased the risk of road accidents. It is during such situations that you incur enormous expenses that may deplete your savings. Avoid such hassles by opting for a car insurance policy. Opt for one that offers a wide range of coverage benefits so that your financial losses are mitigated to a great extent.

Protection Offered by A Car Insurance Policy

Car insurance offers coverage against damages caused by man-made and natural calamities, personal injury, and third-party liability. There are also many add-ons that you can opt to increase policy coverage. These will increase the kind of benefits accrued from the policy. Furthermore, when you renew the policy, but have not made any claim on it during the previous year, there is a no claim bonus which can be transferred to the new policy and which can be used to lower your premium.

Most people usually opt for the liability policy as it has a low premium. However, it is best not to compromise on cost for coverage. You can get more benefits through a comprehensive policy, which offers protection for different types of incidents to increase overall coverage.

How to Do Car Insurance Comparisons?

Make car insurance comparisons to find out which policy most suits your needs. Plans vary from company to company, so it is vital to check the benefits offered by any plan for the premium paid and compare it with similar or better plans before making a decision.

One of the key points to note when making policy comparisons is Insured Declared Value or IDV. This is the current value of the car minus the deductions in the form of depreciation. With depreciation being based on the age of the car, the olden the car, the more the depreciation. The IDV will be accordingly lowered which in turn affects the sum insured. The premium paid on a policy varies depending on the IDV so this should be checked before signing up for a plan.

Check the company’s claim settlement process: Every company has a particular procedure for settling claims, so you should look into it and compare the same among various car insurance companies. Opt for an insurance company that offers a hassle-free claim process, so that you are able to gain the money needed for your expenses in the shortest possible time.

Check for cashless garage benefits as through this feature, you can get the car serviced in a garage under the insurer’s network, but don’t have to pay cash for this. In case of an emergency situation, where the vehicle has to be taken to a place to repair it right away, this benefit proves to be highly useful and valuable.

The roads today are full of heavy traffic and different types of vehicles, which increase the risk of a road accident. Therefore, its best to have coverage of the best car insurance policy and today, this policy can be quickly purchased online. The documentation required is minimal, and the process of getting coverage can be completed in minutes. By making policy comparisons using online calculators and other tools, you can find a plan with features suitable for your coverage needs.

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Created on Feb 22nd 2018 23:45. Viewed 744 times.

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