Few Things To Look Into While Comparing Car Insurance Plans online
Alike two wheeler where the renewal rates are very low if we see from the perspective of car insurance .One of the main reasons may be the high cost of repair which even in a regular scenario can also take away a large chunk of money. Car insurance is definitely the need of the hour today looking at the terrible condition of Indian road and traffic. Though car insurance is a plain vanilla insurance and not as complex as life or medical but still people make a lot of mistake while buying one. In fact the first and foremost approach for buying a car policy is evaluate factors like your driving habits , city in which you drive regularly and the type of work for which the car is used on a day to day basis .
Based on parameters discussed the most preferred way to buy or compare Car Insurance Online Policies India is it online. In India close to 70% of car insurance policy buying is done online today and birth of the insurance comparison website is a real boon in this case supported by new regulations from IRDA to support the cause. The best part of buying it online is that it allows any customer to compare between multiple plans from various insurers at one go. Not the online comparison give you the right to take more informative decisions but also help you save a lot of money. But even if are doing things online you still have a chance of making mistakes while making comparison.
Few things that you need to keep in mind while comparing car insurance plans are:
1) You should have clear idea of the amount of Insurance declared value on which the comparison is based upon. A person who is a bad driver and somebody who drives the car by keeping utmost care may end up getting an insurance comparison at the same IDV. Your right practice of keeping the status of your car right can give you a good incentive while buying car insurance and this is taken care by the IDV. Don’t allow the IDV to go so low so that the value of the car in the second hand market diminishes.
2) Car insurance has two components, one relating to own damage and third party. Try to get a clear idea of both. Though the third party cover can’t be controlled as it is set by the regulator but the own damage cover varies from insurer to insurer. While comparing car insurance you should know what exactly is being covered under the own damage under each policy from different insurer.
3) While making a comparison you should also look at opportunities where you can get discount in premium. The most common among them is no claim bonus, while comparing one or more than one insurance plan you should always compare the premium post applying for the right amount of Non claim discount.
4) Another most important thing which you should consider while comparing car insurance plans is that whether you are considering the right add on cover for your car. In case add on cover different car insurer charge different value of premium so you should be very cautious about. Other than that the amount of coverage and what is covered and what is not is very important while comparing car insurance based upon additional coverage.
Though buy car insurance online plans India is now become a trend because of ease of process but while doing comparison before you buy you should have clear idea of all the points mentioned above .This not only help you buying the right plan which suits your purpose but also helps you to save a lot of money .