Car Insurance Tips: Choosing the right car insurance for your vehicle is a very challenging task, because it directly affects your pocket and mind. Therefore, it becomes necessary to choose the right one from the insurance available in the market according to your needs and budget. In such a situation, today we are going to give some suggestions, with the help of which you can choose the right insurance for your car.
Record number of cars are being sold in the country. After buying a car, there is an atmosphere of happiness in our home. After getting the car, we become worried about its safety. In such a situation, we consider getting car insurance or we can say that we consider taking a car insurance policy. At the same time, there is a plethora of companies selling car policies in today’s time, every new car being sold is being insured. Apart from this, it is also necessary to insure the old car. If you are thinking of getting your new or old car insured, then by taking care of some things, not only can you avoid the problems later, but you can also make good savings. Let us know which 10 things are very important to keep in mind (car insurance tips) before taking car insurance.
1. IDV
This is the maximum amount that can be claimed if the car is stolen or damaged. IDV is determined by deducting depreciation from the price of the car. If the car is more than 5 years old, then the price of the car is decided by mutual agreement.
2. Coverage
While taking any car insurance, you should always keep the coverage in mind. You should take coverage according to your need. It is better to take comprehensive coverage. In this, apart from car damage, you also get coverage for theft and loss caused due to natural disaster.
3. Add on/Top up
It is like paying some extra money to get more features. For example, engine protector, zero depth, 24×7 roadside assistance, etc. One can choose the rider as per their need.
4. Accurate information
We should know what is covered in the policy and what is not. This is both our right and duty. Before taking insurance, we should clarify every single thing from the insurance company.
5. Deduction amount
This means that at the time of claim (insurance claim rules), we will bear a pre-decided portion ourselves. If you agree to a higher deductible, the cost of the policy reduces proportionately.
6. Ease of Claim
Nowadays the claim settlement process has become very easy and fast. Many companies are providing this facility at your doorstep. While buying insurance, it will be beneficial to see how techno-friendly the company is.
7. Insurance company network
It is very important to find out how strong is the network of the company from which we are getting insurance in our city or nearby area. Like its tie-up with garages or service centers etc.
8. No Claim Bonus
No Claim Bonus is the amount that is given as a discount at the time of renewal for not making an insurance claim. Even if we are buying a new car, the No Claim Bonus of the old car can be transferred.
9. Research
If you are thinking about buying car insurance, then do research before buying car insurance. Through this, many options will open up for you. You will be able to buy a good policy at a low price.
10. Check the claim settlement ratio
Let us tell you that whenever you go to buy a policy, always check the Claim Settlement Ratio of the insurance company before that. This ratio gives information about the number of claims settled by the company against the number of claims received in a year.
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