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Parameters to consider while buying car insurance in India

 Parameters to consider while buying car insurance in India

This article will provide you with the top 6 key points you should consider while buying insurance on your car in India.

Your car is your most expensive. Taking care of it can be very expensive and burdensome. Therefore, investing in car insurance is the best way to save yourself from these unwanted expenses. Before purchasing a car insurance policy, it is important to compare different facilities and policies for different insurance companies. Doing so will help you save money and avoid paying unexpected expenses. However, you should always have multiple parameters while comparing different insurance plans.

Top 6 factors to consider while buying car insurance 

In India, there are two standard insurance policies available - third-party responsibility and comprehensive insurance policy. However, the facilities provided to each customer are different based on the model, age and variable of the vehicle. You should make sure you buy an insurance policy that suits your needs and provides optimal coverage at an affordable premium. Here are the points you should consider while buying car insurance in India - 

The reliability of the insurance provider 

When you purchase car insurance, your primary step should be to verify the legality of the insurance company. You can verify the license and registration of the insurance company on its official website. Buying from licensed and registered insurance companies means they are real. This will save you from fraudulent organizations. Make sure you buy your car insurance from companies with a good reputation. This indicates that the company is reliable in times of need. 

Optimal coverage 

There are many scenarios that can cause damage to your car. It may be accidental or non-accidental and not every wrong event is covered by a standard insurance policy. Therefore, you should make sure that your car insurance is purchased from a company that provides the required coverage. Be sure to list and verify the facilities provided by the policy with cases that are likely to occur. 

Additional coverage

Additional covers are only facilities provided by insurance companies not covered by standard insurance policies. These covers help the policyholder get additional coverage for his car insurance plan. Different companies offer different additions. Some are limited to the age and model of the car. Adding these covers will help you customize your car insurance policy according to your requirements. However, it adds to the total cost of your car premium. Thus, be sure to choose which extras you think are most necessary. 

Affordable premium

The cost of your car premium varies from plan to plan. This is mainly because different insurance plans provide different facilities. Some car insurance policies can be very affordable, but they will have minimal facilities. This may leave you incognito. Thus, you should always compare different insurance policies and buy one that provides optimal coverage at an affordable premium. 

Non-cash facilities 

This is one of the best facilities offered by most insurance companies. Repairing your car in the company's network garages in the event of an accident is very useful as you will not have to pay repair bills. Your car repair bills will be sent directly to the insurance provider. Payment will be made without your participation. However, you will be asked to pay the mandatory discount. So, be sure to choose an insurance company that has an incredible number of network garages. 

Dispute resolution process

Accidents can be traumatic events. Arranging funding at such a painful time can be very stressful. The insurance company from which you buy your car insurance must have a smooth claim settlement process. This will relieve you of the stress of arranging money. The company should also have a convenient way to make an online claim settlement. 

Take away

The purchase of car insurance is mandatory in accordance with the Indian Automobile Act. So make sure you compare different policies and buy those that suit you best.

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Car Insurance Premium Calculator Benefits

Disclaimer: This article is published in the public interest and is intended for public information purposes only. Readers are advised not to rely on the contents of the article as crucial in nature, and further research or expert consultation should be conducted in this regard.