How to Buy Car Insurance Online?
If you have recently bought a new car, then buying the right car insurance for your dream vehicle is the next logical step. Not only logical, but it’s also the next legal step. Indian Motor Vehicles Act, 1988, mandates that every vehicle should be protected with car insurance with at least a third-party coverage. In this article, you’ll learn all that you need to know about car insurance and why you should buy your car insurance online.
For most people, buying insurance is tantamount to a headache. There’s no one around to guide you, and a first-time buyer will have no idea about the factors that should be considered when purchasing car insurance. If you fall into that category, check out the tips below to understand your car insurance better.
Things You Need To Know About Car Insurance
Car insurance agents will generally try to sell you all the wonderful benefits you’ll get, the minute you book your car. Unfortunately, you can’t just take them for their word. In fact, there’s a lot more to it. Here are the top five things you should know before you make a decision.
#1 Better to avoid dealer’s insurance
When your car dealer offers you an insurance policy, it’s better to get a second review, instead of making an instant decision. These policies are often bare-bones policies, which come cheap and do not offer sufficient coverage to the car or the rider. As a result, it’s always best to make an informed choice instead of taking the first option that comes your way.
#2 Third-party coverage
When talking about car insurance online or offline, you’ll hear this term a lot. It basically refers to the liability a person faces when a third party suffers damage due to your car. The term third party is used to describe anybody other than the insurance company and the policyholder. This is the minimum requirement by law and financially protects the policyholder in case of an untoward incident on the road.
#3 Comprehensive coverage is always better
While third-party coverage is mandatory, it surely isn’t the best to avoid the comprehensive coverage. Since third-party coverage does not offer financial protection in case of repairs, or injury to the driver or passenger, it’s best to opt for the comprehensive coverage which offers more features and security than the third party coverage. Features such as Road Side Assistance, No Claim Bonus Protection, Engine Protection, Return to Invoice, bumper to bumper coverage can only be found in comprehensive packages and can be attached to the base plan for an additional nominal premium.
#4 Read exclusions and inclusions list
A key to making any good insurance decision is reading the inclusion and exclusions list. The inclusions list details all the circumstances and protections available in the plan, while the exclusions detail the various scenarios in which the car or the policyholder will not be protected. It is a common misconception that buying car insurance online or offline automatically protects you from all circumstances.
#5 Add-ons is a must
When you ponder over the features that you need while buying car insurance online, don’t forget to include zero depreciation cover and personal accident add-on. These are often presented in the form of add-ons and are available at an additional nominal premium, which are very valuable additions to any policy. The zero depreciation cover protects you from depreciation adjustments against your car’s parts as it ages while the personal accident cover offers compensation when you’re injured in an accident.
Why Is Buying Car insurance online Better Than Buying It Offline?
One of the next steps to buying your car insurance would be comparing features of the best policies available. While your friendly insurance advisor might not be your best bet for a transparent comparison, using online services will help you. You can buy the best car insurance online only when you have compared the features and prices across the wide range of offerings available today.
Insurance aggregator sites like Coverfox.com, not only offer comparison services, but also provide discounts on your car insurance online quotes. Just fill in your details and let it gather the best offer for your car. You can compare the features, look at the quotes and the best part yet, you do not even need to talk to an agent. Additionally, you can also renew your policy or make claims from the same site.