How To Compare Car Insurance Online In India?
Investing your hard-earned money in buying your dream car is a big decision that requires careful planning. You make your choice after a lot of consideration given to several factors. Therefore, you must protect your dream purchase with the perfect car insurance.
Comparing different car insurance policies online is crucial as it will help you choose the right plan for your vehicle and your requirements.
When buying car insurance online, you save money and choose a plan that provides the best coverage to protect your car from unforeseen events like road accidents, thefts, fire, etc.
Let's explore the different types of car insurance policy plans available and the factors to consider before making your final choice.
Types of Car Insurance Policies in India
In India, 3 types of car insurance policy plans are available online. These are:
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Third-Party Liability Only Cover |
This is compulsory coverage for every motorised vehicle in India, and it is one of the most affordable car insurance policies online. The scope of the coverage is limited, and the plan covers any property, person, or vehicle damaged due to the insured's actions while driving the vehicle. |
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Comprehensive Car Insurance |
Provides comprehensive coverage that includes damage from third parties as well as damage to your own vehicle. This coverage is the best choice when you buy car insurance online as it guarantees complete protection to the policyholder against the risk factors you face on Indian roads. |
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Own Damage Cover |
Also known as Collision Damage Cover, this type of insurance covers the insured person for the cost of repairs to the damaged vehicle in case of an accident. Collision damage cover is a great option for people living in accident-prone areas or areas with dense traffic flow. |
How to Compare Car Insurance Online?
When you are planning to buy a car insurance policy online, there are certain essential factors that you need to consider. These are:
1.Type of Coverage Offered
While comparing car insurance online, you must be aware of the coverage you need based on your requirements and budget and only choose your plan accordingly.
2.Additional Discounts
Many reputed insurance companies offer additional discounts, including NCB in car insurance discounts, discounts on AAI memberships, anti-theft discounts, etc. You can take advantage of these discounts and purchase the best car insurance.
3.Add-on Coverage
These options are available to enhance your car insurance coverage, and you can purchase them by paying an extra premium account. Always compare the type of add-ons (engine cover protection, NCB protection, nil depreciation cover, etc.) and the premium on these add-ons offered by the insurance companies.
4.Claim Settlement Ratio
This is a major factor in deciding the credibility of an insurance company, as this is the ratio of the number of claims settled to the total claims received by the company. An insurance company with a high CSR will have a higher credibility in the market.
5.Customer Reviews
Before you make your final choice, it is crucial to understand what other customers think of the insurance provider online. Read customer reviews online to get an idea of the after-sales services and the company's pros and cons.
Why Comparing Car Insurance is Important?
Comparing car insurance can offer you an array of advantages. Some of the most significant benefits are:
1.Get the Best Value for Your Money
When you compare car insurance quotes, you can easily pick a cover that offers you the best value for your money. You can also compare discounts offered by different insurers, which can help you save significant money on your purchase.
2.Learn about Features and Benefits
Insurance policies have many features and benefits that can vary significantly depending on the policy type and provider. When you compare car insurance, you will better understand the different features and benefits offered under different plans.
3.Understand Inclusions and Exclusions
Most car insurance policies have various inclusions and exclusions that could impact your buying decisions. Comparing the inclusions and exclusions offered under different plans will help you choose a policy that meets all your requirements.
4.Check and Pick Available Add-ons
Add-ons are additional covers (24x7 roadside assistance, zero depreciation, engine protection, etc.) that can increase the scope of your car insurance policy. When you compare car insurance policies, you can check the available add-ons and pick a feature-packed, affordable policy that offers the add-ons that will be helpful to you.
Benefits of Comparing Car Insurance Online
Comparing car insurance online is a hassle-free and time-efficient process as compared to offline comparison which can be a cumbersome task. Other benefits include:
1.A variety of Options
When you compare car insurance online, you have a plethora of choices right at your fingertips. You can easily compare all these companies, insurance features, and their worth with just a few clicks.
2.Ease of Comparison
Offline comparison is tricky, as it is exhausting to go from one insurance company to another or consult insurance agents. However, when you compare car insurance online, you can do it easily, quickly, and right from the comfort of your home.
3.No Hidden Fees
You must pay insurers a commission when you purchase a car insurance policy from them.
Conclusion
Buying a car insurance plan for your vehicle is an important decision, as it provides you and your vehicle with financial coverage in case of damages or accidents. Purchasing car insurance online is a smart decision, as it can help you make your choice quickly and hassle-free.
The factors mentioned earlier play a key role in choosing the right car insurance policy online. Keep them in mind when you select your plan, and you will make the right choice.
