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All You Should Know About Apply for Car Insurance Online

Car Insurance (also called motor or auto insurance) is primarily done to protect your vehicles from unforeseen risks. Its primary use is to provide financial protection against physical damage or any injury or damage resulting from traffic collisions and against liability that could also arise there from. Car insurance may additionally offer financial protection against as theft of the vehicle, and against damage to the vehicle such as keying and damage sustained by colliding with stationary objects. Car insurance can be for the insured party, the insured vehicle and third parties. The premium of the insurance is dependent on various parameters like car value, coverage type, vehicle classification etc. The premium amount of car insurance is decided on the basis of the Insured declared value of the vehicle. It is important for any policyholder to compare various insurance options before going for renewal or a new policy.

Car insurance offers following benefits

  • Coverage of insured vehicle against loss or damages.
  • Coverage to vehicle against loss or damage due to accident, fire, explosion, natural calamities etc.
  • Personal accidental cover

Criteria to choose Car Insurance

  • Coverage- Before going for any insurance plan ascertains the kind of coverage you need. Usually, car insurance policies cover third-party liability and own vehicle damage. While liability plan only covers third-party liability, the comprehensive one covers you for damages to owner and vehicle also called for personal cover policy. Moreover, additional add-on benefits are also offered with basic policy.
  • Claim settlement policy- Claim settlement is the most crucial part of a policy. Each company has its own settlement policy, before going for any company check the company’s past record of claim resolution. It is essential to compare the claim settlement process which best suits you and enables a faster claim settlement. Also, check if the existing insurance can be transferred to another insurance company without losing any benefits.
  • Customer Service– Due to a drastic change in technology, now insurance policies are now issued very instantly. Also, the duration of the process of updating, deletion & cancellation reduces. In the event of a claim, the cashless settlement is also available for post-repair delivery. It is therefore important to check the insurance company’s network so that better options can be availed.
  • Communication Access- The contact information of an insurance company can be easily accessible & in case of any problem the insured individual can easily access and check the policy & know whom to contact and what procedure to be followed.
  • Cost- Price or premium is also an important factor to decide an insurance policy. Various rates of IDV’s reflect various rates of its premiums. IDV (Insured Declared Value) is the current value of the car after making an appropriate reduction and adjustment in the value. Older the car, higher would be its depreciation and lower would be its IDV. So, compare the IDV quotation offered by different car insurance plans.
  • Coverage- Before going for any insurance plan ascertains the kind of coverage you need. Usually, car insurance policies cover third-party liability and own vehicle damage. While liability plan only covers third-party liability, the comprehensive one covers you for damages to owner and vehicle also called for personal cover policy. Moreover, additional add-on benefits are also offered with basic policy.
  • Claim settlement policy- Claim settlement is the most crucial part of a policy. Each company has its own settlement policy, before going for any company check the company’s past record of claim resolution. It is essential to compare the claim settlement process which best suits you and enables a faster claim settlement. Also, check if the existing insurance can be transferred to another insurance company without losing any benefits.
  • Customer Service– Due to a drastic change in technology, now insurance policies are now issued very instantly. Also, the duration of the process of updating, deletion & cancellation reduces. In the event of a claim, the cashless settlement is also available for post-repair delivery. It is therefore important to check the insurance company’s network so that better options can be availed.
  • Communication Access- The contact information of an insurance company can be easily accessible & in case of any problem the insured individual can easily access and check the policy & know whom to contact and what procedure to be followed.
  • Cost- Price or premium is also an important factor to decide an insurance policy. Various rates of IDV’s reflect various rates of its premiums. IDV (Insured Declared Value) is the current value of the car after making an appropriate reduction and adjustment in the value. Older the car, higher would be its depreciation and lower would be its IDV. So, compare the IDV quotation offered by different car insurance plans.