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10 Tips for Getting the Best Car Insurance Deal Online

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We all know that buying a car is one of the most important decisions of our life, and once in our lifetime, we always dream of attaining its key. Therefore, it is essential to take all reasonable precautions to guarantee its safety and security. To do the same, car insurance is necessary to protect your precious life and your beloved vehicle. Now, it doesn’t matter whether you go for car insurance online or offline, but it’s highly advisable to go for the online one.

This is because it’s essential to ensure you get the best deal possible. Now, car insurance costs vary for every driver depending on the state they live in, their choice of an insurance company and the type of coverage they have. So, to compare these mandatory factors, it is very important to research online first, which is easy nowadays.

What is car insurance?

It is an agreement between an insurance company and a car owner wherein the car owner will pay premiums, and the company covers loss or damage caused to the car. Now, remember that car insurance is mandatory in India regardless of the fact that it is a personal vehicle or a commercial one.

(Tip: Go for car insurance online. It’s easy, and you’ll get the best deal.)

 

What are the types of car insurance?

There are two types of car insurance –

1.    Third-party liability insurance cover

This type of insurance offers limited protection. It protects you only against the costs incurred from the damage done by your vehicle to another vehicle, property or person.

2.    Comprehensive insurance cover

It offers cover against damage to the vehicle, death of the driver or passenger(s) and damage caused by the vehicle to a third party vehicle, property or person.

What are the ten tips for getting the best car insurance online deal –

Know your requirement

As I have mentioned above the types of insurances, it is highly advisable that you buy comprehensive coverage that offers both third-party liabilities and own damage. Also, gauge your daily needs with respect to your vehicle. For example, how often do you drive? Where do you often park? And so on.

Comparison

Avoid the tussle of comparing policies offline while handling a lot of paperwork by simply going for car insurance online. This allows you to compare easily in one go on your smartphone only. So, compare and choose the best plan according to your suitability.

Price shouldn’t be a priority

While comparison, don’t just go for a low-priced policy, as this ideology can leave you under insured. A cheap policy may not offer complete coverage, and you may have to pay more from your pocket at the time of an unfortunate event.

Set the Right IDV

Insured Declared Value (IDV) is the approximate market value of your vehicle. So, basically, it forms the base for deciding the cost of a car insurance policy. As the owner, when going for car insurance online, you first need to decide how much IDV you wish to set. This is because setting a higher value will also increase the cost of your insurance policy, and setting a lower value might leave you underinsured.

Keep your details handy

This will help in a speedy process, and you can quickly get your car insured within minutes. If you are renewing it, just keep a copy of the previous policy with you.

No claim bonus

This bonus is awarded at the time of renewals, provided you did not raise a claim during the policy period. It can be as high as a 50% discount on the cost of the policy.

Don’t rush

Never rush while buying a car insurance online policy or, for that matter, any policy. Read the situations under which you can raise a claim and under which you cannot. Always go through the terms and conditions and ‘fine print’ once you receive it.

Use an online calculator

There are certain applications like the Bajaj Finserv application for your smartphones that offer an easy insurance calculator on your tips. Now, I’m sharing this application as I personally use it. It allows you to get a rough estimate of the cost after entering the required details.

Avoid extra modifications

The more you modify your car features, the more premium keeps dumping on to cover for the extra features. It is a common mistake that people make.

Drive Safe

Keeping a clean driving record can lead to discounts between 10%-20% on the overall premium. It is a rare piece of knowledge that most people don’t know about.

 

 

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1 Comment
  1. Heng says

    Great work! That is the type of information that are meant to be
    shared around the net. Shame on the search engines for not positioning
    this put up higher! Come on over and seek advice from my site .

    Thanks =)

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