How to buy car insurance: Car insurance policy should be taken on your own, not by the agent. Here we are explaining you 5 points, knowing which it will be easy for you to choose car insurance.
Car Insurance Policy Tips: It is necessary to have insurance to protect your car from damage caused by an accident or natural disaster. Apart from this, it is mandatory to have insurance to use the car legally. There are many car insurance companies present in the market. You can get yourself car insurance online or offline. Apart from this, even while buying a new car, the dealership suggests car insurance accordingly. But you should take the car insurance policy on your own, not the agent’s. Here we are explaining you 5 points, knowing which it will be easy for you to choose car insurance.
1. Understand the difference
Insurance is mainly divided into two types – Third Party Insurance and Comprehensive Insurance. Third party insurance covers the front person, his vehicle and property at the time of the accident. Not to you and your car. Whereas in Comprehensive Insurance, your vehicle and you are also covered.
2. Check IDV
Check the IDV (Insured Declared Value) mentioned in the insurance policy. This means the amount that is given to you in case the car is stolen or completely damaged. The higher it is, the better it is for you. But it directly affects the insurance premium.
3. Check Premium Rate
Before buying any car insurance policy, understand its premium rate. If you are going to take very cheap insurance, then also assume that the facilities will be less in it.
4. View CSR (Claim Settlement Ratio)
CSR (Claim Settlement Ratio) tells how many claims the company whose insurance you are taking has settled in a year. If this ratio is good, then only buy insurance from that company.
5. Online Insurance Comparison
If you have chosen an insurance policy, make sure to compare it with other policies once before finalizing it. There are many online platforms where you will get to see the comparison. Compare premium, IDV, and other features of all insurance policies at once. Only then choose the right insurance policy.
