Last Updated on February 26, 2020 by Gopal Gidwani
Commuting in your own car is convenient as well as comfortable compared to any other means of travel. However, one needs to maintain their vehicle and save themselves from serious financial stress later on. The best thing to do is to purchase a car insurance policy to protect your vehicle from damages caused as a result of an accident; but this depends on the type of policy you purchase.
Your car insurance plan must be customized according to your needs as well as budget. To be able to choose the right policy, the key rule is to research and compare multiple policies online. Here are some pointers to consider while you compare car insurance policies online.
a) Policy Price
It is wrong to assume that a policy that costs less is the best. Insurers consider certain factors while deciding the price of the policy, i.e. the premium amount. If the IDV of your vehicle is high, you will have to pay a higher premium for the policy. It might also happen that you would have to increase your budget to acquire a policy that fits all your needs. In such cases, the ideal choice would be to purchase said policy instead of focusing on the price. A good insurance policy can save you a whole lot of money in the long run.
b) Claim Settlement
Asking people about their experiences with different insurance companies as well as reading online reviews and official data about the insurer’s claim settlement ratio is another factor you will have to research while comparing insurance policies online.
c) Online Buying and Claim Settlement
In the age of e-commerce, comfort is extremely important. In the process of purchasing car insurance offline you have to deal with insurance middlemen/agents. You wouldn’t want your policy buying process to be lengthy. Hence, research about the insurance company of your choice and check if you can buy their car insurance online.
Another important thing to consider here would be the claim settlement procedure. You would want to go with an insurer who has a short and simple claim settlement process.
d) After-sales Service
The insurance company’s customer service network should be accessible and helpful as it can be really helpful in times of need. Also, the insurer’s website should have a 24×7 contact where you can alleviate doubts, questions, or avail help concerning the policy or during a claim.
To achieve benefits from a policy that also fits in your budget, consider the following tips:
a) Extensive coverage
Instead of the basic third-party policy, go for an extensive coverage, i.e. a comprehensive policy. It not only covers damages caused to the third-party but also protects you from own damage.
b) Cover for co-passengers
You are responsible for the safety of your co-passengers. A Personal Accident Cover protects your co-passengers from any danger whatsoever.
c) Personal Accident Cover for driver
If the owner or the driver is injured, personal accident cover protects them from unexpected expenses up to the amount mentioned in the insurance policy.
d) Flexible payment method
Lastly, you need to decide how you want to pay for the insurance policy. Opt for a payment plan that is convenient. Online insurance renewal can come in handy at such times. Check if your insurer provides the same.
Rather than going with the traditional method of purchasing car insurance offline through an agent, it is best that you do it yourself online. You can compare and find the best car insurance policy by calculating its premium online using a car insurance premium calculator and get the quotes at the click of a few buttons.