So youhave decided to purchase a car and are working your way through the financingprocess, feels ecstatic. Have you decided on car insurance yet? Car insuranceis not something that you can buy immediately or can buy later, but it needsdue diligence and is mandatory with a car, whether it is new or old.

Thoughcar insurance is vital to drive a car on road, the sole purpose of carinsurance is to safeguard your car from the financial consequences in case ofan accident, theft or loss in the event of natural occurrences, etc. 

If youare planning to buy car insurance, be prepared for any eventuality andtherefore select the right car insurance. Here are a few major factors tounderstand about car insurance, before you buy one

Types of Insurance Plan

Thereare two major kinds of car insurance plans, first is a third party liabilityinsurance plan and the second one is a comprehensive car insurance plan.

  • The third-party liability insurance- It covers only injuriescaused to other people in an accident but it does not include the damage toone's own vehicle.
  • The comprehensive car insurance- The comprehensive carinsurance plan incorporates third party liability along with the personalaccident or self-vehicle damage as well as theft.

Here,second choice is better as it provides you complete protection with personalaccident

Mode of Purchase

Thebest way of buying a car insurance policy is online. It allows you to get abetter deal for a similar type of plan, as compared to purchasing it offline.

If youbuy the policy offline, you will have to wait for the policy document to reachat your doorstep via post. It is not the case when it is purchased online, youcan easily download the policy instantly. Moreover, the possibilities of beingconned by an agent are almost negligible.

Cashless Facility

Alwaysprefer buying insurance policy from that service provider offers cashlessfacilities. It will save you from making several rounds of follow-ups, e-mails,and visits to the insurance company for reimbursement.

Whenyou go for cashless insurance, you just need to visit the four-wheeler garagethat the insurance company has a tie-up with. The cashless facility helpsduring an emergency.

Customer Support

Once youbuy car insurance, the most important thing you need continuous customerservice and support. Always go with the brand that offers customer service and24X7 customer support.

Here,the best way is to check the customer support policies and know their contactpoints at the time of claims.

No-claim Bonus

No-claimbonus is a certain percentage; it is given as a bonus for every claim-freerenewal year with a limit to the maximum bonus. One avails this while renewingthe new policy by way of dedication to the total renewed premium. Always keepin mind that, used cars do not have NCB benefits because of ownership change,so insurance premium increases as the insurance company treat it as an old car.

Easy Claim Procedure

Try tofind a service provider that has an easy claim settlement process. Read out theclaim policy and procedures and also talk to existing users to understand theirexperiences, before buying a car insurance for any provider. It will help youto find a service provider where the claim procedure is easy.

Additional Facilities

Apartfrom the major points, it is always to look for some additional advantages.These include:

  • Zero Depreciation: Go for the company where you get assortedfor the reimbursement for the four-wheeler parts replaced as per their genuinevalue and not the depreciated value.
  • NCB Protect: With NCB protection, you can keep the discounton account of no claims even if they have already claimed it once in that year.
  • Hydrostatic Cover: It incorporates losses due to mishapslike water logging.

Besides,many companies offer all-time road assistance, towing amenities that come inhandy in case of an emergency. So check with the company before buying your carinsurance.

 Mistakes to Avoid While Buying an InsuranceCar

Thevehicle survey inspector is like your doctor with whom you should share onlythe correct information. They hold the right to cross-examine and they are freeto reject the claim because of misrepresentation of facts. Check the claimprocess of the company and their claim TATs properly.

Overall,selecting appropriate car insurance is not that tough, with a little duediligence research, it will help you get the best protection for your canwithin your budget.

Finally,to understand exactly the policy covers, exclusions, etc checks the PolicyWordings properly.

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