The happiness of buying a new car has no bounds. Along with your new bundle of joy, there are some responsibilities you should look after like, keeping yourself and others out of trouble in case of any mishap. Therefore, investing in a good Car Insurance policy is a must. However buying one can be a riddle in itself unless you are a pro at choosing the right car insurance cover.. Today we reveal some secrets about buying well-suited car insurance. Read on to know more.
5 Tips about Car Insurance You Can’t Afford To Miss
1) Great discounts for a good driver
You haven’t claimed for a single year! Great! Then your driving skills have rewarded you with some discounts. The Insurance Company will reward you with a No Claim Bonus every year ranging from minimum 20% to maximum 50 % over a period of 5 claim-free years on your own damage premium
Additionally, you can also avail a discount of 2.5% on your own damage premium if you have ARAI approved anti-theft devices fixed in your car
2) A misconception about choosing all the add-ons will keep your car safe
In the want of keeping your car safe, would unnecessary covers (add-ons) work wonder for you? Think wise; be smart to choose what you need in your insurance. For instance, if it’s a new car, buying a zero depreciation policy would make sense, however, if you have opted for a NCB Protection cover along, it would be totally unwise on your part to do so. Reason being, the NCB offers you a discount on your premium on every consecutive claim free year. In short, this add-on would deem useless unless your car has completed a good 3-4 claim-free years. So it is better not be to in rush while buying additional covers. It is recommended to buy add-ons only as per your requirement.
3) Keeping a tab on the overall efficiency of the insurance company
It is important to know if the insurance company you wish to opt for has good customer service assistance and a reputable claim settlement ratio. Both these things are an integral part of any car insurance company. You can easily compare the claim settlement ratio of all the insurance companies online and opt for the best in the market. Always remember that higher the claim settlement ratio of a company, higher are the chances of your claim getting settled in a hassle-free manner.
4) Mentioning correct car and previous policy details
Did you know that the premium of your car insurance policy majorly depends on your car details like the geographical locations, manufacturing year, cubic capacity, RTO details, types of cover you opt for, etc.? Mention your previous year’s policy details like the policy number and most importantly the no claim bonus percentage will get you closer to a tailor-made policy. For Instance, your car has a cubic capacity of less than 1000 cc and you happen to choose something over and above that limit. In this case, the policy premium will automatically mount. It will be advisable that you keep all your facts clear or keep all the related documents handy while buying a car insurance policy.
5) Don’t reach to a cheap option, rather reach out to an insurance broker
In the want of buying a cheap car insurance policy, most people end up buying or paying more from their pocket for a policy which makes them feel underinsured. This a common scenario everywhere, however, one should not overlook the coverage’s offered by an insurance company. Another great option would be that you reach out to an insurance broker like Coverfox.com, who will guide you to buy a pocket-friendly policy. Unlike agents, brokers will provide you with unbiased option keeping your requirement in mind. Agents, on the other hand, will only sell off those policies on which they have the highest commission.
It’s All About (The) Car Insurance
Ultimately a car insurance policy is as good as a fuel to for your car engine. One can either land in soup or enjoy the benefits offered by of a Car Insurance policy. There are numerous and competitive options available in the online market, however choosing one will be tricky if you overlook the car coverage’s for buying a cheap policy. So think twice and be wise when it comes to your car insurance policy. After all, it is the one which will keep your claim related troubles at bay.