“Car insurances are least understood and mostly misleading”. What a big statement! Car insurance policies make a safety guard around the vehicle owner against the financial loss caused due to any damage or theft of the insured vehicle. Car insurance offers aren’t complex but maybe your car dealer presents you with a handsome pitch, which ultimately fills his pockets with commissions.
So here are some fine and clean points that you can take care of in case of buying or renewing your Car insurance:
Consider The Brand
Understanding that cheap insurance plans are not always the best or you can say they could easily make you regret after a specific period. These plans seem to fit in the budget but they bring a lot of hidden policies that don’t get you the deserved claim when needed.
These include
- Lower IDV (Insured Declared Value).
- GST is added much later.
- Missing basic Add-ons.
Understand The Coverage Offered
You need to get the right coverage for your situation and for that you need to understand what’s available. Let’s break down the four-basic coverage:
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Liability coverage
– provides you with the coverage you need if you’re at fault in an automobile accident. This coverage offers two types of protections:
- Coverage for injuries to other people.
- For damage to someone else’s property while you or a family member are operating any automobile.
So, if you accidentally hit someone else’s car or injure the other driver then your liability coverage will pay for that.
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Medical Payment coverage
because liability coverage only provides coverage for injuries caused to the other people involved you’ll need medical payments coverage to help pay medical expenses related to injuries. This coverage comes into play no matter who is at the fault.
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Uninsured motors coverage
– UM coverage protects you if you’re involved in an accident by someone who breaks the law by not carrying their auto liability insurance. It does this by helping pay for any medical expenses you inquire as a result of getting hit by an uninsured driver. This makes protecting yourself an absolute necessity.
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Physical damage coverage
– Pays for direct and accidental loss to your vehicle. There are two parts to physical damage.
Check The Add-on
Well, add-ons can be customized according to your situation. There are four most important car insurance add-ons you must know.
- Engine protection cover.
- Roadside assistance cover.
- Consumables cover.
- Zero deception cover.
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Take the insurance policies directly to avoid unnecessary commissions.
Most of us prefer directly doing our car insurance from the car dealer itself. As car insurance details seem to be complex and confusing, indirectly you get fooled by them and pay higher amounts. But if you try and break down the details to understand, there are several online sites like ACKO and PolicyBazaar.
Where you can compare and get the best deals according to your situation.
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Take the Defensive driving course.
The defensive driving course is that you are making an allowance, and you have skills and strategies in place that are compensating for the errors of other drivers. This one course can help you save 10 to 20% off on your Car insurance premiums.
Right, here are 5 best practices you can follow while doing your car insurance to slow down the complex game built by the agents or car dealers. You can make customized insurance policies as per the situation. Now every one of you can have your 100% expertise while buying or renewing your Car Insurance.
