Renew the Policy Before It Expires
Well, everyone should know this thing. Due to some reason, if you fail to renew your car insurance policy before it gets expired you will be required to buy a fresh policy. That means your vehicle will be inspected and you will lose your No Claim Bonus (NCB). Losing NCB means you will be getting no discount on your policy renewal. This factor is enough to increase your premium.
Don’t File Claims for Small Damages
A maximum of 50% NCB is offered on the car insurance renewal premium for making no claims for consecutive years. But imagine this scenario: you parked your car outside and went shopping. When you came back, you found there’s a dent in your car. Now if your file a claim for this minor damage, you will not be receiving the No Claim Bonus discount on your renewal premium. Therefore, it will result in you paying more premiums at the time of your vehicle insurance renewal.
Therefore, it's always a wise idea to think twice before you file a claim for small damage which can be easily managed from your own pockets.
Compare and Renew Car Insurance Online
Since everything is available on the internet nowadays, you can renew your car insurance online as well. When it comes to the advantages linked with buying or renewing an insurance policy online, there are many. The best benefit is that you can easily compare premiums of diverse insurance companies and pick them up chiefly judging them in terms of reviews, premiums, popularity, claim settlement ratios, etc.
And most importantly, the best thing about renewing a car insurance policy online is that you can avail them allon a considerable high amount of discounted rates. These reasons are helpful enough for you to buy car insurance online.
All You Need to Know About Comprehensive Car Insurance Policy
Car insurance certainly brings comfort for an individual with a vehicle. Motor insurance is also a legal requirement in India since it is mandatory as per Motor Vehicles Act. In case you get caught without car insurance, you are likely to suffer a heavy fine.
This is why; car insurance policies have its very own significance given that it provides you security and safety from any damage to you and a third party in the event of an unforeseen accident involving your vehicle. There are basically two types of car insurance policies: Third Party Legal Liability and Comprehensive Car Insurance Policy. Third-party car insurance only covers third-party injury or damages and any damage to the third-party property. It doesn’t cover any damage to your vehicle or your own injury.
A comprehensive car insurance policy is designed to offer you total coverage and this is the car insurance you require to cover the damages to your own vehicle. Comprehensive car insurance can be considered as the best car insurance given that it comes with widespread coverage providing third-party cover as well. A comprehensive car insurance policy is comparatively expensive than just third-party insurance cover.
What Does It Cover?
A comprehensive car insurance policy has been designed to cover the loss or damage to your vehicle caused by certain events. These unforeseen events include (but are not limited to) theft, fire, vandalism, etc. A comprehensive car insurance plan also comes with deductibles where you volunteer to pay a certain amount and this amount is to be paid before the insurance company pays for the damages.
It is always advisable to buy a comprehensive insurance policy in terms of choosing the best car insurance in India for your vehicle since it covers the vehicle, the insured as well as the third party in a single policy. This type of insurance policy covers all the risks covered in the Motor Vehicles Act and in addition also covers the loss or damage caused to the vehicle due to:
- Burglary, theft, riots, and strikes
- Malicious acts, terrorism, or terrorist acts
- Hurricane, typhoon, cyclones, storm
- Fire or Theft, Accident.
- Earthquake and floods
- Self-ignition, explosion, lightning
- Any damage to the vehicle while it’s in transit by rail, road, elevator, air, waterways, etc.
- The towing expenses incurred after an accident.
What Are the Exclusions?
- Any damage to the vehicle while driving it under the influence of alcohol or drugs at the time of impact.
- A vehicle that is driven by a person not having a valid driving license.
- Any damage to the tires if the vehicle is not also damaged at the same time.
- Mechanical breakdown, wear, and tear is not covered
Now you know what comprehensive car insurance is, what it covers and what it doesn’t cover. Meanwhile, you can click here to check out some of the top car insurance plans available online from the best insurers.
