Insurance is a very important thing for a responsible car owner. Due to this, there is a feeling of financial and legal security and the mind remains tension free while driving.
Vehicle Insurance: Under the Motor Vehicle Act in India, it is compulsory to have insurance for vehicles running in public areas. That’s why it is important that while choosing it, understand the insurance company and the policy very well. Whether it is according to your requirement or not. We are going to tell you some important things, with the help of which you can choose a better insurance for your vehicle.
what are the types of insurance
The first and most important thing while taking insurance, you should have this information about insurance. So that you can get help in choosing the right option. There are two types of insurance, first comprehensive and second third party. After this, different services are covered in them. They have different benefits. You can choose either of these two options.
Third Party Insurance- It is mandatory for vehicles in India. Under which the damage caused to a third party (human or property) by your vehicle is compensated.
Comprehensive Insurance- In this, your own vehicle is also covered along with the third party. Due to which the company compensates for any kind of damage, theft of the vehicle or loss due to natural calamity.
understand your need
While buying an insurance policy, also keep in mind your requirement, like how old is your car, what is your budget for the policy, what is your ability to remove the risk. On the other hand, if your car is very expensive, then you should go for comprehensive.
choose the right company
This is very important and it is realized when an accident happens to you. Therefore, after choosing some good companies, get information about their settlement ratio, customer reviews, financial stability and customer support service and choose a company according to your convenience.
Compare the policy with you
After this, the next task is to compare the policies and the facilities provided in them. In which it is necessary to see what is being covered in IDV, premium, no claim bonus, road accident cover, road side assistance and car accessories. Especially the IDV so that if the IDV value is correct. So in case of any kind of loss, you will have to bear less loss.
buy or renew
If everything is correct and the policy is as per your requirement. Then you can buy it by doing the necessary paper work and payment.
