Know How to Buy the Best Car Insurance Plan

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Car Insurance

Did you know that car ownership status in India stands at 30 vehicles per thousand Indians? Though it may seem like a small figure for a country having a population of over 1.3 billion people, it throws light on  the considerable number of vehicles on the Indian roads. For many people, buying a car means moving up on the lifestyle ladder. They spend days and months researching for the best deals on cars. But deciding on a suitable vehicle is not the end of the story. Once you plan to buy a car, you must also give due diligence to protect this possession under a suitable insurance policy. The car dealership you buy the vehicle from may recommend you to buy some specific offline or online car insurance policy. But it would be better if you do your share of research beforehand and then choose which one to buy.

The true importance of buying the right policy is only realized when one meets with an unexpected accident and incurs losses. That is why,you must select a policy that can offer you the best possible financial support at the time of an unexpected accident or crash.

To select the best car insurance policy online, consider the following aspects

1Compare Various Policies Online

Given that there are different kinds of policy plans and accompanying riders, many car owners find it challenging to choose from amongst them all. While purchasing, you need to keep both coverage and premium in mind, and this is where the online facility to compare car insurance policy helps a lot. Mainly, there are two ways of comparing insurance policies, which are as follows:

  • You compare a policy from one insurer with that offered by another insurance company
  • You compare a car insurance policy online to itself in terms of adding or excluding certain features, like a higher sum assured and riders

You can make the online comparison in both these ways to find the insurance plan that gives you maximum value for money.

2Look for Customizable Policies

One of the prime features of the best car insurance policies available in the market is the ease of customization. Renowned insurers like Tata AIG understand that offering a one-size-fits-all policy does not help as people own different kinds of cars. That is why they offer customizable car insurance policies online to meet your insurance needs best. For instance, you can choose the insurance cover and add-ons to make the policy stronger based on the degree of protection you seek under the policy. In other words, you should give preference to an insurer who provides customizable policies over the others.

3Do Not Buy a Policy Based on Its Price Only

Buying a car insurance policy online only based on low cost is a common mistake many people make. Alongside the insurance cost, there are many factors that you must consider while buying a policy, such as the extent of coverage provided, riders included, the insurer’s reputation, to name a few. Although you can choose to buy only third-party liability insurance as mandatory by law, you must know about their limited coverage benefits. However, if you are looking for extensive coverage for greater security, you must buy a comprehensive car insurance policy online at a reasonable cost, rather than opting for a limited coverage policy at a low price. Based on your budget, you may also include add-ons like depreciation reimbursement and return to the invoice into your policy for additional benefits.

Car Insurance Policy Buying Process at a Glance

  • Know your insurance needs.
  • Compare car insurance policies online.
  • Buy a policy from the insurer which offers reliable customer support services.
  • Renew your policy on time to enjoy maximum benefits.

So, now that you know what all to consider in buying a car insurance policy, make the purchase decisively to reap maximum benefits.

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