Four Point Checklist to Buy Motor Insurance
Your car may be your most treasured possession. It will be your best friend on road trips and long drives. For the comfort and convenience it offers, you may provide your car with best care and protection. However, your efforts are in vain if you cannot safeguard your vehicle against unpredictable events.
Unexpected events like natural disasters or man-made apathies can damage your vehicle. Its repair costs can burn a hole in your pocket. To averse such tough outcomes, you are recommended to buy motor insurance.
Buying motor insurance is easy, only if you follow a certain criteria of picking the right policy. Here is the Four-Point Checklist to refer before purchasing one.
1. Decide upon the Coverage
Coverage offered by any motor plan - Commercial comprehensive package or third-party coverage, will actually depend on the indemnity value (IDV) of your car. Thus, to decide the best cover for your car, get the right IDV from the insurer or the automobile showroom.
2. Choose Motor Add-ons
Motor add-ons are additional covers that increase the sum insured amount of your car. With such add-ons, you will receive better service or additional coverage for car parts and accessories. In order to hedge the additional risks linked with your vehicle,you are required to choose motor add-ons carefully.
3. Compare quotes
To secure the best policy in the market with respect to price tags, it is advisable to do online search. Search online for different car insurance quotes. Such quotes will vary from insurer to insurer, region to region, and car model to model. Thus, to seek a better deal, keep searching.
4. Look for Concessions
For first time buyers, you can look out for discounts on the premium paid for the first year. For those who aim to renew the policy, always try to avail the No Claim Bonus or NCB from insurer. Such concessions can readily offer discounts of 10 to 15%