Car Insurance: Many times, due to lack of information, people get such insurance policies done online or offline, which are also very expensive and they also get less benefits. So stop wasting money on car insurance.
Car Insurance: Whenever we buy a new car, it gets insured before leaving the showroom. Dealers never allow the car to be taken out without insurance. From this you must have understood that it is necessary to get insurance for a car. Nowadays, companies themselves do one year’s insurance. After this the insurance policy itself has to be renewed.
Many times, due to lack of information, people get such insurance policies done online or offline, which are very expensive and the benefits are less. Therefore, before wasting money on car insurance, know what are the things to be kept in mind while buying the policy. Here you are telling some such tips.
Get the policy done according to the need
It is very important to understand your needs before buying an insurance policy for the car. There are two types of car insurance policies in India. Third Party Insurance and First Party Insurance. Third party insurance is legally required for every vehicle. It only covers damages caused to third parties. You will not get any compensation under this coverage. If your car is very old then you should get third party insurance. On the other hand, first party insurance also covers damages caused to the car. If your car is not very old then you should get first party insurance only.
Search and Compare Plans
Once you are sure about the type of car insurance you want to buy, it is always a good idea to compare multiple policies from multiple insurance companies. While comparing, it is necessary to keep in mind the policy charge, what will be available in the policy and the total expenditure incurred. This will help you narrow down your search for the best car insurance policy.
Know the Claim Process
The first objective of buying a car insurance policy is to get instant financial help for the damages caused after an accident. Therefore, while buying the policy, choose such a policy, which comes with a quick and easy claim process. Because no one wants to go through a troublesome process to recover the damages. That’s why one should always know about the claim process before buying the policy.
Check the CSR of the policy
One should always buy such an insurance policy, which has a very good Claim Settlement Ratio (CSR). This is a very important thing to keep in mind before choosing and buying an insurance policy. CSR percentage tells how many claims the company has settled on time in a year. If the CSR is not good then the policy should not be bought.
Read the policy thoroughly
We often leave without reading the terms and conditions written in the fine print of the policy documents, which are very important for us. These terms and conditions provide important information about the policy. Hence, it is very important to take time and read the terms and conditions thoroughly before purchasing the policy.
