In India, it is mandatory for drivers and owners to have the requisite car insurance in place. In other words, in order to drive legally on Indian roads, you must buy or renew your automobile license at the earliest. As per the Motor Vehicles Act, 1988, it is important for drivers to have an auto insurance policy for covering their vehicle. They become legally liable to pay out the compensation to third parties in case of accidental death, damage to the property, or bodily injury. Also, the certificate of insurance has to be carried in the car at all times as a proof for the same.
While it is compulsory to have third party insurance, you may also choose to buy a more comprehensive cover for taking care of the costs incurred to your own vehicle in the event of an accident. You may wish to take up additional riders for theft and third-party fire as well.
Car Insurance Things to Consider and Advises to Follow
As you go about the task of buying car insurance for the first time or renewing the existing auto insurance plan in your hands, it would be wise to consider the following things:
1. There are a variety of insurance plans for cars
Every insurance provider you come across will have an exhaustive catalogue of car insurance products to sell to you. These plans will differ on the basis of the car make, model, premium amount, coverage for add-ons, IDV, period of coverage, analysis regarding claims, etc. It pays to research upon the features and prices of various plans before freezing your choice on one.
2. Buy insurance online
Insurance comparison sites like Coverfox.com are equipped to guide you at every step of purchase of your car insurance. An essential benefit of buying insurance through reliable portals is that the process is quick and hassle-free. You can compare and choose the policy that fits your bill without stepping out of your comfort zone.
3. Select a car insurance company with many affiliations
Make sure the insurance company chosen by you boasts of tie-ups with different service outlets and car garages. The act would ensure that you get recourse to timely and cashless services at these centres in the event of an accident taking place.
Car Insurance Tips That Can Help You Out
Here are some effective tips and tricks to help out your car insurance purchase online:
1. Research on the insurance company
Look for positive reviews, first-hand client testimonials, and credibility with regards to the number of successful claim settlements undertaken by the insurance companies of your choice. Proper research about the client base, reliability of payment, and quality of support can be gained by asking for testimonials from existing clients and others in your circle. Always settle for the insurance company that promises to provide the maximum cover at the most affordable rates.
2. Choose the necessary add-ons only
Go about the task of assessing the add-ons that you would like to purchase for your new car insurance or renewal with optimum care. Invest in only those add-ons that you cannot do without; else you will end up adding to your insurance costs unnecessarily. For instance, you may want to opt for zero depreciation add-on; this type of cover ensures that the amount payable as compensation is not reduced as the insured value or IDV of your car changes due to added depreciation.
3. Use your Accumulated NCB
In case you are opting to renew your car insurance policy online, do know that you are entitled to get yourself a discount with regards to the No Claim Bonus for not filing any claim in the coverage period. The amount so accumulated as NCB is usually set off against your next premium to reduce the insurance costs.
Get yourself the Best Car Insurance Online
Buying auto insurance online from reliable sites like Coverfox.com will help you drive around legally and to your heart’s content. In case you already have car insurance in place, do remember to set a reminder to know beforehand about its date of expiry. Driving your vehicle with a lapsed car insurance policy is illegal and can bring on grave consequences; so, take all requisite steps to renew it at the earliest.