Looking to purchase a new car? There’s no doubt that you have a lot to consider, and rightly so. Your car is a valuable asset that you take great pride in. Your search for the perfect vehicle likely starts with online research and comparison shopping. You want to know as much as possible about the latest models and their features, and you likely seek advice from everyone from co-workers to hairdressers in order to make the best decision. However, when it comes to car insurance, many people neglect to do their due diligence. That’s why it’s important to compare car insurance online. Here’s why.
Why compare car insurance?
If you want to get the best deal on car insurance, it’s highly recommended that you compare car insurance online. By doing so, you can find the best policy for your vehicle, and save money in the process. One of the biggest advantages of comparing car insurance policies is that you can find affordable premium rates. Premium amounts can vary from insurer to insurer, but by comparing plans, you can find one that is more suitable for you and your budget. However, you shouldn’t compromise on features for cheap premiums. Another advantage of comparing policies is that you can discover the various features that different insurance companies offer. For example, some offer cashless repairs at network garages, while others offer affordable engine protection cover. By comparing policies, you can select the plan that best fits your needs.
How to compare car insurance?
The best way to compare car insurance is by browsing online. You can find several tools and aggregators on the internet that offer quick and convenient ways to compare car insurance. Before purchasing a policy, it’s a good idea to get a car insurance quote and compare the insurance premiums that would be incurred. There are multiple aspects that need to be analyzed while comparing policies. Firstly, the premium rates offered by insurance companies need to be understood and compared accordingly. This will give you an idea of how insurance providers decide the premium and the factors that come into play while doing so.
Next, it’s important to check the type and level of coverage being offered by your car insurance company. This is critical because a below-par insurance cover may leave you in trouble in case of an unforeseen incident. To avoid this, identify your requirements first and choose the policy that covers all your needs. Additionally, you should also check out the fine print to become familiar with the situations and events not covered by the policy.
Another thing to keep in mind while comparing car insurance is that you should avoid falling into the trap of buying the cheapest policy just to save on premiums. This could end up costing you a lot more than what you would save on premiums. It’s all about finding the right balance between your requirements and an affordable premium.
An important tip to save money while comparing motor insurance online is to compare the deductibles and add-on covers. These add-ons add value to your policy and can come in handy during emergencies. Some of these add-ons include personal accident cover (for both the driver and passengers), roadside assistance, and third party liability covers. Another important feature to look out for while comparing car insurance policies is the No Claim Bonus (NCB). This bonus can give you a sizeable discount on your insurance premium during renewal if you don’t make any claims during the policy period. While comparing car insurance online, it’s a good idea to compare the NCB offered by different companies to find the best policy for you.
Discover the Different Types of Car Insurance
If you’re looking for car insurance, it’s important to understand the different types available. You can compare car insurance online based on the type of coverage you’re looking for. Essentially, there are three types of car insurance policies: Third-Party, Own Damage, and Comprehensive. Here’s a closer look at each of them:
Third-Party Car Insurance
This type of car insurance policy provides financial protection to the insured person against any legal liability arising due to loss or damage caused to a third-party person or property. Third-party car insurance is mandatory for all car drivers who want to drive on Indian roads. According to the Motor Vehicle Amendment Act, 2019, you must insure your car with at least third-party car insurance. While this type of policy does not offer comprehensive coverage, it can save you from hefty fines.
Comprehensive Car Insurance
Comprehensive car insurance protects your car from any kind of unforeseen damage. It covers the person financially in case of any loss incurred as a result of an unavoidable instance to the vehicle. Comprehensive car insurance covers theft, financial loss, and accidents. This type of policy provides coverage for both the insured party’s vehicle and third-party liability. This means that it covers damage to your insured vehicle or theft of the car, as well as legal liability for injury to others’ bodies or property caused by your insured vehicle. When you compare comprehensive car insurance with third-party car insurance, you’ll see just how much better comprehensive coverage is. You’ll be protected, as the comprehensive plan provides coverage that ensures the overall protection of your car and yourself.
Here are some Best car insurance company:
- State Farm
- Liberty Mutual
- American Family
Different Types of Car Insurance Plans and Their Features
|Features||Third Party||Comprehensive||Own Damage|
|Damage To A Third-Party Vehicle||Covered||Covered||Not Covered|
|Damage Due To Fire||Not Covered||Covered||Covered|
|Damage Due To Natural Causes||Not Covered||Covered||Covered|
|Personal Accident Cover||Optional Add-on||Optional Add-on||Optional Add-on|
|Engine Protection||Not Covered||Optional Add-on||Optional Add-on|
|NCB Protection||Not Covered||Optional Add-on||Optional Add-on|
|Invoice Cover||Not Covered||Optional Add-on||Optional Add-on|
Own Damage Car Insurance
Own Damage Car Insurance is a part of the standard comprehensive motor insurance. Before changes were made to the insurance sector by IRDAI, you could only purchase third-party liability insurance separately. Now, you can opt for Own Damage cover separately as well. This means you can own both third-party and own damage car insurance separately.
Now that you’re aware of the three types of car insurance, check out the table below to see what type of coverage you get with each type of car insurance plan. And don’t forget to compare car insurance online to find the best policy for you.
When it comes to car insurance, it’s important to compare policies to ensure that you get the best deal. Here are some factors to consider when you compare car insurance online:
- Premium Rates: It’s important to choose a plan with affordable premium rates and good features. Comparing car insurance plans will help you find a plan that fits your budget.
- Coverage: Look for plans with wide coverage, and consider add-ons like Engine Protector Cover and No Claim Bonus (NCB) retention cover. Comparing car insurance plans can help you find the best add-ons for your needs.
- Customer Reviews: Check customer reviews to learn about the claim settlement ratio of the insurance company. This will help you make an informed decision.
- Age of Your Car: Your insurance premium is based on factors like the age of your car. Compare car insurance plans to find the best premium rates.
- List of Network Garages: Look for plans with network garages near your area. This will be helpful in case of an emergency.
- Add-on Covers: Choose add-ons that suit your needs, such as engine protection cover for rainy areas or personal accidental cover for accident-prone areas.
- Exclusions and Inclusions: Read the terms and conditions of car insurance policies to learn about their exclusions and inclusions. This will help you choose a policy that meets your needs.
- Claim Settlement Ratio: Compare car insurance plans to find the one with the best claim settlement ratio.
Remember these things when comparing car insurance policies:
- Third-party cover is mandatory.
- Check for co-payment and deductibles.
- Check add-on covers and buy only what you need.
- Know what is excluded in the policy terms.
Comparing car insurance policies online can help you find the best plan for your needs. Don’t forget to renew your car insurance when it expires.
Why Choose Best General Car Insurance?
When it comes to car insurance, there are several providers to choose from in India. However, Best General Insurance is a top contender in the market. Here are some of the features that make Best General Car Insurance stand out:
- Coverage for both Private Cars and Business Vehicles
- Towing Facility in case of accidents or breakdowns
- 24×7 Roadside Assistance
- High Claim Settlement Ratio of 98%
- Optional Duplicate Key Replacement Cover for both new and existing customers
- Wide range of add-ons such as Consumable Expenses, Accident Shield, and Conveyance Benefit
- Network of over 4600+ garages across India for repairs
- Cashless Settlement for repair bills
- Discounted No Claim Bonus upon policy renewal
- Assistance with booking hotels or arranging cabs in case of breakdowns or accidents
Compare Car Insurance Online
If you’re looking to compare car insurance policies effectively, one of the best ways to do so is online. Comparing policies online saves you time, allows you to easily compare features and premium rates, and often comes with lower fees than going through an insurance agent. Additionally, online car insurance premium calculators can help you determine the best policy for your car.
Comparing car insurance policies also helps you save money on premium payments. By comparing the premium rates and features of various providers, you can choose the one that suits your needs and budget.
It’s important to note that add-on covers are only available for comprehensive car insurance policies, not third-party liability-only policies. No Claim Bonus (NCB) is a discount offered by insurance companies upon policy renewal, but it’s only available if you don’t file a claim during the policy tenure. Insured Declared Value (IDV) is the market value of your car, which is essential in determining the compensation amount in case of theft or total destruction.
Opting for add-on covers can broaden your coverage and provide additional protection as per your specific needs. For instance, if you reside in an area prone to rainfall, getting engine protection cover would be advisable. Conversely, if you live near a national highway, it’s essential to have personal accidental cover. You can also choose from several other add-ons such as NCB retention cover, Nil Depreciation Cover, Personal Accident cover, electrical/electronic accessories cover, and many more.
Overall, comparing car insurance online polices has many benefits, including saving time and money. When choosing a provider, consider Best General Car Insurance for its comprehensive coverage and customer satisfaction.