The factors to consider while getting car insurance online can vary from one individual to another. It is because your expectations and requirements from a car insurance policy can be different from another person. Similarly, the car model, make, area of driving, and various other factors decide which insurance plan is the best for you. However, before determining the best car insurance policy, you must know about the different car insurance types. The third-party car insurance ensures that you won’t spend from your pocket for the claims raised by a third party.
On the other hand, comprehensive car insurance policies offer complete protection to your vehicle from damages. Unlike a third-party liability cover, they also provide coverage against the injuries sustained during an accident. You must also focus on the below points while getting a car insurance policy:
You won’t buy car insurance online simply because it has the best features and extensive coverage. It is because you would also think from the budget point-of-view. Get a car insurance policy that has all the required features and is well within your budget.
To find a cost-effective car insurance policy, surf the websites of some car insurance providers. You can also check the websites of insurance aggregators to find the latest offers and discounts provided by the insurance companies.
Add-on Cover Plans
The advantage of comprehensive car insurance policies is that you can also subscribe to add-on cover plans. These add-on covers enhance the coverage or benefits of your existing policy.
For instance, a pillion rider cover provides coverage for the injuries caused to the pillion rider during an accident. A nil depreciation add-on plan provides coverage for the depreciable parts of your vehicle. It enhances the coverage of your existing policy and is therefore known as bumper-to-bumper or zero depreciation cover.
Many other add-on plans such as engine protection cover, key replacement cover, return-to-invoice cover, No Claim Bonus protection cover, etc. are also available. Each of these add-on cover plans has its unique benefits. However, subscribing to them mindlessly would increase your insurance premium quickly. Therefore, analyze your needs before getting them.
Roadside Assistance & Cashless Service
Choose a car insurance online plan that offers roadside assistance, emergency towing services, and other facilities for free. Cashless service is offered by many insurers nowadays. The garages that are included in the network of an insurance company provide repair services without asking for an upfront payment from you. It is because the bills are directly settled by the insurance company.
You would also like to avail yourself of the cashless settlement service in a network garage that is near your house. Target the insurer that offers the maximum number of network garages in your city. It will enable you to take your vehicle to a nearby network garage immediately after an accident.
IDV and sum insured
A car insurance policy does not cover the entire amount in case your vehicle is damaged or gets stolen. The value up to the IDV (Insured Declared Value) is reimbursed. IDV is decided upon by examining the condition, year of purchase, and other factors. Therefore, do check the IDV before subscribing to an insurance policy. Also, check other factors like deductibles, claim process, claim-settlement ratio, and company profile before getting a car insurance policy online.
A higher claim settlement ratio means that the company settles most of the claims raised by the policyholders. Knowing about the claim-settlement ratio and company profile will help you to analyze whether the insurer is trustworthy or not. Once you are satisfied with everything, visit the insurer’s website and subscribe to the car insurance policy online.
For finding comprehensive and third-party car insurance policies of different insurers on the same platform, check Bajaj Finserv’s official site. On this portal, you will find all the essential information of the best car insurance plans.