As soon as you buy a car, getting car insurance should be the first thing on your priority list. In fact, try not to delay the purchase of the insurance into months after getting a car. With everything available online, you can even forget about hassles, such as visiting the insurance office and filling out paperwork. We have the convenience of carrying out this entire process from the comfort of our homes. However, that does not nullify the fact that we are still prone to making certain mistakes when it comes to buying car insurance. Here is how you can avoid these blunders while buying a good car insurance policy for your four-wheeler.
A very important tip to consider is gathering whatever information you can before you get car insurance online. This will eliminate nearly all possibility of fraud and leave you just with great car insurance!
Avoid these mistakes while buying car insurance:
- Choosing lower premiums: When buying car insurance, your preference should be to get adequate insurance cover for your car. It is not the same as choosing the one with the lowest premium. With all the comprehensive insurance covers that are available, try and find one convenient policy that will cover extensive damage to your car. By paying low premiums, you will only be able to avail a low reimbursement which may not sustain or cover the extent of the damages. Instead, choose a policy that offers benefits important for your vehicle. Use an online car insurance calculator to see the exact insurance cover you can get.
- Avoiding comprehensive cover: Third-party liability insurance is the basic motor insurance in India that offers the insurer financial protection against third party damages. Even though this insurance is mandatory for all car owners, it does not cover for any damage to the insured person’s car. For that, it is necessary to have a comprehensive car insurance policy. This cover offers sufficient protection to your car, ranging from accidental damage and theft to damage caused by natural and man-made calamities. You may also need to complement this with a few add-ons that can help you save in the long run. Even though a comprehensive insurance cover is not compulsory, it is extremely important, and you cannot miss having one!
- Avoiding online insurance: When you buy car insurance online is not only time-saving but also less expensive. With some details and a few easy clicks, you can have your car insurance in the shortest time possible. Most people avoid online car insurance due to the fear of frauds. But in reality, car insurance companies ensure complete security for their online insurance process. One reason for the lower insurance cost is that the whole procedure, right from the paperwork to the transaction, is digital and therefore, completely paperless. Secondly, an agent, who could have been investing time filling out your details is not needed here, thereby eliminating any overhead costs.
- Skipping the research: It’s true that there are several car insurance companies that offer great policies. Always read their insurance terms to see what they offer. However, depending on which car you have, where you stay and what other requirements you may have, just any insurance may not suit you. For one, some policies could be way too expensive and might seem like a waste of money. Just go online, visit an aggregator website, and compare the insurance policies you have chosen. As per your needs, there will be one that will be the best for your car as well as your finances. This is something you won’t know if you avoid doing some basic reading and research. You can also call up the insurance agents from some companies to get a clear brief on their offerings.
- Cancelling a policy without a new one: While switching from one car insurance policy to another, try to ensure that the time gap in between is minimum. Sometimes, even a month’s time could prove to be costly, and you might have to dip into your savings without an insurance policy. When buying a new policy, the new insurer will always ask for the details of the previous coverage. It could be expensive for you if the gap between the two policies is more. This is because there may have been some damage to your car, during that time which increases the risk and thereby, the premium.
Though buying car insurance online is a fairly easy process, there are some vital things you must be aware of. Sometimes, some insurance companies may not keep their websites secure, which may compromise your cybersecurity. Never forget to go through all car insurance websites carefully before you finally make a choice.
There are also other mistakes, like buying too many add-ons that we tend to make while buying car insurance. It is, no doubt, good to have some essentials ones to balance out your premium but buying many could be too expensive. At the same time, do not completely steer clear of them, only to save money. With all the information that you now have, you can find great car insurance in no time!