A car and a home are the two major buys in one’s life especially if we talk aboutmiddle class.Buying a car does not only cost a mammoth amount of money but also has an emotional value. It is always better to be prepared for any eventualityand hence choosing the right car insurance for our four wheeleris one of the key decisions to make.
Here are a few things to consider while buying car insurance.
Kind of Insurance Plan
There are basically two types of car insurance plans. One is thirdparty liability insurance plan and the other one is comprehensive car insurance plan. The third party liability insurance covers only injuries caused to other people in an accident but does not cover the damage to your own vehicle. A Comprehensive Car Insurance Policy covers third part liability along with the personal accident or self-vehicle damage and theft. Hence it is better to buy a comprehensive insurance plan.
You must prefer an insurance policy that offers cashlessfacility. This will save you from making several rounds of follow ups, mails and visits to insurance company for re-imbursement. In a cashless insurance, you will have to visit the four wheeler garage which insurance company has a tie up with for a cashless claim. The cashless facility helps a lot in the times of emergency as you do not have to bother arranging cash.
Add on facilities
Look for some additional benefits that comes in your car insurance policy like
- zero depreciation, where you get the reimbursement for the four wheeler parts replaced as per their actual value and not the depreciated value,
- NCB protect, where you can keep the discount on account of no claims even if you have already claimed once in that year
- Hydrostatic Cover, which covers losses due to mishaps like water logging.
Also look for additional frills like all time road assistance, towing amenities etc.which come in handy in case of an emergency like your four wheeler breakdown. A word of caution though, this may cost you a little extra or your premium may go up, so include the same carefully after looking at the pros and cons.
After buying a car insurance, the thing you may need most is the customer service and support. You would have got an extremely warm and cordial treatment from your insurance agent until you buy a car insurance, but what happens when you need them? You must choose a brand that is known for best customer service and 24*7 customer support. Garner some reviews online or from word of mouth. Read up their customer support policies andknow their contact points at the time of claim.
No Claim Bonus
Do look for their No Claim Bonus policy. NCB is the coverage that is given to those clients who not claim for an entire year. The amount of generally 5-10% of the insured declared value which is given as a bonus at the time ofthe renewal of the …