How to choose the right kind of car insurance

The insurance sector is replete with numerous comprehensive car insurance. This creates a problem in deciding among the best option. With constant development in the Indian automotive industry, there have been a considerable number of schemes and policies launched by the concerned insurance unions.

A car insurance policy covers the expenses of the damages or the theft in accordance with the type of scheme opted by an individual. As per the law, a car insurance policy is mandatory for every model, be it new or used. Such a policy at least ensures to cover the minimum damage, which can be caused to one's own car or other vehicles in case of collision.

 

Important considerations before choosing an Insurance

 
Which insurance cover to choose?

A car insurance cover is a great security cover to have in the case of an accident and other mishaps like theft, riots, vandalism, broken windscreens, etc. Damage caused due to unforeseen acts like an earthquake, flood, falling trees, etc. is also covered. In the case of third-party insurance, any legal liability arising from damage caused by your car is also covered. These include bodily injury, death, or damage to third-party property.

 
Add on covers

Add-on covers are extremely useful during sticky situations. They include hydrostatic lock cover, zero depreciation cover, and engine protector cover. A Hydrostatic lock occurs when your vehicle's engine comes in contact with water. Water prevents the engine from starting, rendering the vehicle into a static position. It mainly occurs when a parked vehicle is stranded in a flooded area or during monsoons.

Zero depreciation cover promises comprehensive coverage without factoring in depreciation. If your car is damaged following a collision, for instance, and you file a claim, the insurer will cover the entire cost.

Engine protector reimburses damages inflicted if there is the ingress of water or if the gearbox is damaged because of the oil spill.

 
No claim Bonus

No claim bonus can be claimed from your insurer after a year of buying a policy in case you have not made any claim.

 
Premium payment

Paying the premium for your car insurance policy is extremely crucial. You have the option of paying the premium annually, bi-annually, quarterly or monthly.

 
Risk Assessment

An insurance company will undertake a risk assessment before finalizing a policy. This will influence your driving records, age, occupation, etc.

 
Online aggregators

Using the services of an online aggregators is the fastest, most efficient, and time-saving process. Here you can compare the premiums, drawbacks, and advantages of various policies before choosing the best one. 

The insurance sector is replete with numerous comprehensive car insurance. This creates a problem in deciding among the best option. With constant development in the Indian automotive industry, there have been a considerable number of schemes and policies launched by the concerned insurance unions.

A car insurance policy covers the expenses of the damages or the theft in accordance with the type of scheme opted by an individual. As per the law, a car insurance policy is mandatory for every model, be it new or used. Such a policy at least ensures to cover the minimum damage, which can be caused to one's own car or other vehicles in case of collision.

Important considerations before choosing an Insurance

Which insurance cover to choose?

A car insurance cover is a great security cover to have in the case of an accident and other mishaps like theft, riots, vandalism, broken windscreens, etc. Damage caused due to unforeseen acts like an earthquake, flood, falling trees, etc. is also covered. In the case of third-party insurance, any legal liability arising from damage caused by your car is also covered. These include bodily injury, death, or damage to third-party property.


Add on covers

Add-on covers are extremely useful during sticky situations. They include hydrostatic lock cover, zero depreciation cover, and engine protector cover. A Hydrostatic lock occurs when your vehicle's engine comes in contact with water. Water prevents the engine from starting, rendering the vehicle into a static position. It mainly occurs when a parked vehicle is stranded in a flooded area or during monsoons.

Zero depreciation cover promises comprehensive coverage without factoring in depreciation. If your car is damaged following a collision, for instance, and you file a claim, the insurer will cover the entire cost.

Engine protector reimburses damages inflicted if there is the ingress of water or if the gearbox is damaged because of the oil spill.


No claim Bonus

No claim bonus can be claimed from your insurer after a year of buying a policy in case you have not made any claim.


Premium payment

Paying the premium for your car insurance policy is extremely crucial. You have the option of paying the premium annually, bi-annually, quarterly or monthly.


Risk Assessment

An insurance company will undertake a risk assessment before finalizing a policy. This will influence your driving records, age, occupation, etc.


Online aggregators

Using the services of an online aggregators is the fastest, most efficient, and time-saving process. Here you can compare the premiums, drawbacks, and advantages of various policies before choosing the best one.