How to Choose Best Car Insurance

Owning a car today is a very normal thing. A vehicle can be very helpful in so many ways. It makes life easy and better. In that case a car insurance is a must too. We have to choose the right car insurance policy if we have a car. If you are confused of how to select the best insurance policy, don’t worry, I am going to talk about to to select the premium car insurance taking into consideration the top companies, policies, types of insurance coverage, benefits, claims and all.

We buy a car for so many reasons. So we always wish to keep our cars safe, clean and secure. No one will want to lose a car just like that for small and silly reasons. Of we want to protect our cars in all occasions and get a good benefit out of it, then we have to always make sure to get a car insurance policy. Because an insurance policy will give will give you hand in so many situations.

So many unexpected issues or disasters can take place and we will have to face them all. What will happen if your car had to go through an unexpected accident? Or what if a natural disaster like flood takes place? These are unavoidable and we can’t expect these not to ruin or harm the vehicle. So many damages can take place. That is why a backup plan like a car insurance policy is important.
A car insurance policy will cover up the financial damage and losses caused in such situations. Even at times like thefts, damages caused due to accidents, any harms caused to vehicles or other third party liability, the insurance policy will cover up for the damages. We all know that a car insurance is something very important and do you know that you will be charged with a huge penalty if you drive without a car insurance in India? Yes, that is why a car insurance is very important.

But choosing the best insurance is also as important as having one. Just a normal and cheap insurance policy will not be able to help you up to the core when you need it the most.

So I will help you to know how to choose the best insurance policy for your precious car.

Factors to consider when choosing a car insurance

Market research

When we start looking for a car insurance, we will come up with so many types of car insurance with different policies and pricing. This can be quite confusing on what to select and what not to. First you have to examine in detail with the insurers and get a thorough assessment and understanding. Know that the auto insurance provides an adequate coverage for a reasonable coverage.

You have to always select a reputable insurer who provides a better claim settlement ratio and who have a comprehensive networks of garages. This will help you get the cashless claim facility.

Fuel to be used

If you have a diesel engine then you have to select a premium car insurance. As the diesel vehicles ate expensive and their IDV more when comparing the gasoline vehicles or compressed natural gas engines.

Types of coverage

The worth of the car insurance will be decided by the coverage you choose. If you have chosen a low priced policy then the coverage will be impacted too.

Third party insurance

The third party insurance is essential according to the law of Indian road Safety Act and the Indian Motor Vehicle Act. Before you start riding your vehicle you have to get the third party insured. Normally the car dealer would include the third party insurance cost to the price of the car when you get it.

Estimation and quotes

Never accept a single estimate that comes with great deal and provides premium benefits. Always get quotations from at least 3 reputable and trustworthy business companies.

Benefits of having a car insurance

1. If we have the right car insurance we will be able to cover the financing expenses in case our car meet with an accident, theft, any damages that's caused by natural disasters, riots, fire or such an event that is unpredictable.

2. Along with that, a car insurance will also cover up the costs and provide financial aid when an accident takes place and causes injury, death or even damages caused for property. The survivors after an accident caused a death will be benefited.

3. In case of an accident caused, the car insurance will cover the financial liability of law suits which will include any legal fee.

4. The one that we have to look to is the no claim bonus option. The owner of the car will be able to get this benefitted every year without any claims. This will help to get a discount on the premiums and lower the insurance cost further.

5. It is illegal to drive without an insurance policy. You will be charged for it and it is illegal to drive without an insured. So if you don’t want to get penalties then you better have an insurance policy for your car.

Important factors that can effect the premium of a car insurance

Type of car - The premium factor can be considered with regard to the make year of your vehicle, model and engine capacity.

Age of the car - Older cars would have a lower premium when comparing to the newer cars.

Insured Declared Value or IDV- This means the current market value of the car. If the car got a higher IDV then it will gain a higher premium.

Geographical location- The insurance premium will differ from city to city in our country India, with regards to the amount of thefts, accidents and natural disasters.

Driving history- If a driver have faced less accidents then he would have lower premiums when comparing to the driver who have faced many accidents in his past.

No claims bonus - Considering over the time, if not claimed bonus then it will result in a lower premium for the policy holders.

Coverage- A policy that have a higher coverage will have a high premium when we take into comparison the third party car insurance.

Add-ons - The additional coverage like passenger cover, zero depreciation and more can effect and increase the higher premiums.

Now we have seen how car insurance can help in many ways as covering up the medical cost, property damages and third party liability. With all these we will be saved from unexpected incidents that can occur to your car. A car insurance is a must to have.
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