Four Wheeler Insurance

Tips for Selecting the Best Insurance Coverage for Your Car

I woke up irritant with my father waking me up to book a power bank on a so called deal which is going to end in next 5 minutes on an online portal. The deal says ‘Buy 2 and get 1 free’. The hidden…

I woke up irritant with my father waking me up to book a power bank on a so called deal which is going to end in next 5 minutes on an online portal. The deal says ‘Buy 2 and get 1 free’. The hidden clause in this deal is you end up paying more in the greed of a free power bank. You only need one power bank and you have to buy another one to get the third free item which you don’t require at all. A smart buyer always focuses on what he/she actually needs rather than getting fooled for paying more to get more which are not necessary. Same is the insurance coverage for your car as the competition amongst the insurers makes them lay intelligent traps to attract buyers. Either they end up paying more for minimal benefits or they buy a cheap insurance policy for almost no benefits.

Before narrowing down at a car insurance policy, majority of the buyers commit similar mistakes of not researching or comparing the policies. The only criteria the prospective buyers look at before buying a policy is the premium. However, there are many other things to consider and let’s understand the tips for selecting the best insurance coverage for your car!

Identify the Key Feature of a Policy

Experts suggest make a list of the available policies offered by various insurers in your budget. Once the list is made, draw a comparison of the policies narrowed down to identify the key feature of each of the policies. Try to understand the range of coverage those policies offer. A good insurance policy should comprise of a car’s damage cover, personal accidental coverage as well as a third party insurance coverage.

Verify add on Elements

Insurance experts recommend paying necessary attention to the add on elements as you can choose the specific ones as additional benefits as per your preferences and is one of the crucial tips for best insurance coverage for your car.

  1. Coverage on engine: It offers an additional coverage on the engine to protect the insured against the extra expenditure incurred due to engine damage.
  2. Third- party liability coverage: The insured can be of an assurance about the protection against financial loss due to an injury, death or damage repair expenses of a third- party vehicle.
  3. Road side assistance: An accidental stoppage of your car due to a break down in the engine or an accident or a tire puncture, you can claim a road side assistance. This feature will permit you to contact the insurance company to inform about the incident so that they can send a car mechanic at your location or provide a towing assistance.
  4. Coverage of Zero Depreciation: If you happen to choose zero depreciation coverage as part of your insurance plan, the wear and tear or the depreciation on your vehicle’s substituted parts are nullified by your insurer. This denotes that you are able to claim higher amounts of coverage and is a good idea to get best insurance coverage for your car.
  5. Coverage on personal accidents: As a car owner, you can be of surety about the financial protection due to a personal accidental coverage against any unforeseen incidents such as road accidents which cause physical trauma, death or a permanent disability.

Evaluate the Reviews of Car Insurers

Before buying an insurance policy, you should consider the reviews about that particular insurance company from your friends and acquaintances. These kinds of reviews are quite insightful when you acquire them from the experienced users. You may get to know about the customer support services of that company and the claim settlement ratio as well empowering yourself with a choice.

Compare Premiums of Various Policies

Thanks to the internet and online insurance aggregators websites to list various insurance plans and their features. Most of them may be tricky to understand and they are of course traps but few of them are genuine too. Distinguish and understand them and you will confront a good deal with a little amount of research. Consider the below points before comparing various insurance plans online.

  • Evaluate the features of different plans and compare them to know the key benefits of each of them
  • Visit some good comparison sites which calculate the premium on the Insured declared value.
  • Premiums are also to be compared on insurance comparison sites.

Protect your No Claim Bonus

A good history of driving span without an accident or claim puts you in an advantageous state adding the No Claim Bonus to your premium as discount. If there is no accident claim in an entire year, your insurer rewards you in the form of a discount which is in turn deducted from your insurance premium at the time of policy renewal.

Don’t Hesitate to Negotiate

Any smart buyer would negotiate with the insurance company at the time of buying or renewing a policy. Had you been a responsible citizen by adding the No claim bonus to your policy, you may end up having an advantage as discount on the premium.

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