Guide to Get the Insurance on Your New Car

Purchased a new car? Awesome! Now you need not worry about travelling in public transport, or be dependent on someone in your family to give you a ride. As much care and effort you may have put in buying a shiny new car, you may want to ensure that you do everything right to keep your valuable asset protected, right? You must purchase a car insurance policy to get financial protection against damages due to accidents and other mishaps. 

 

While it is important to buy an insurance cover for your new car, buying a car insurance policy online can be an overwhelming experience as there are too many options available. So, to choose the right policy, and get the best coverage, you can follow the below tips.

Don’t purchase the policy from the car dealer

 

When you buy a new car, the car dealer may try to offer you the best car insurance at an affordable price. However, it is advisable that you politely decline their offer as the policy issued by the dealer may not be suitable to your needs. 

 

Typically, the car dealers have a tie-up with a single insurance company and they try to sell their plans to get commission. So, be firm with saying no to the insurance policy offered by the car dealer. 

 

Understand your insurance requirements

 

Typically, car insurance companies in India offer two types of policies – third party policy and comprehensive policy. The former is a mandatory requirement for all car owners in India as per the law under Indian Motor Vehicles Act. It is the most basic form of car insurance and offers financial protection against damages you may cause to the third party’s vehicle, assets or physical injuries.

 

On the other hand, comprehensive car insurance policy offers more extensive coverage. It covers both third-party liabilities as well as own damage. Besides, you can customise the comprehensive policy and purchase add-ons to get additional coverage against specific risks that are not covered under the regular policy.

 

You can purchase the add-ons while buying a new policy or when you do car insurance renewal online. 

 

So, know your needs, whether you want a basic coverage or a comprehensive coverage, and choose the right plan accordingly. 

 

Compare the plans

 

Today, the insurers in India offer a variety of car insurance plans to suit the different needs of the customers. So, before you make your final decision, it is better to compare the different plans from different insurance. You must look at the cost, extent of coverage offered, value-added services, and other benefits. This will help you choose the right policy that suits your needs and budget. 

 

Consider buying add-ons

 

Add-ons or riders are additional coverage options that you can voluntarily purchase by paying an additional premium to get protection against specific risks that are covered under the standard policy. So, when you purchase car insurance for your new car, you can consider buying add-ons like engine protection cover, zero-depreciation cover, roadside assistance cover, etc. 

 

Buy online

 

Another simple yet effective tip to purchase car insurance for your new car is to buy your policy online. As insurers offer online services, buying and renewing a policy has become easy. You must simply fill an online form with a few basic details and you get the policy papers delivered to your instantly. Also, when you purchase car insurance online, you directly deal with the insurers, and you need not pay any commission to the third-party agents. 

 

Finally, buying car insurance helps you make an informed decision as you can easily know about the policy details, the terms and conditions, and there is complete transparency. Thus, you can be sure that you don’t face any legal issues while filing a claim or anytime in the future. 

 

Final Word

 

Now that you are aware of the simple tips to purchase car insurance for your new car, do your due diligence and get a suitable insurance policy.