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Easy Methods to Buy a Car Insurance Policy

TheInspireSpy
Easy Methods to Buy a Car Insurance Policy

A car insurance policy protects you in the face of losses and damages caused to a third-party person or own damage due to an accident involving your car. If you choose comprehensive car insurance online, it will cover your car against theft, damages due to fire, and natural and manmade calamities. However, a third-party policy will cover only third-party liabilities. For more information on comprehensive and third-party car insurance options, you can visit www.insurancenavy.com/sr22-insurance.

Benefits of Car Insurance

In addition to covering third-party liabilities, a comprehensive car insurance plan covers losses faced by the policyholder due to accidents, fire, and natural and manmade calamities. It also covers your car against theft. Here are some significant benefits of buying car insurance:

  1. Damage or loss to an insured vehicle

A good car insurance policy is adept at covering damage to the insured car due to accident, fire, or self-ignition. Furthermore, it covers damages caused to the vehicle while in transit by rail, air or road.

2. Personal accident cover

A comprehensive plan comprises personal accident cover, death cover, and protection against permanent disability with a predetermined amount. 

3. Third-party liabilities

Car insurance covers third-party expenses. In case of an accident where the third party’s car gets damaged, the insurance company comes to help. It also gives protection against legal liabilities in case of death or injuries to a third party.

4. No Claim Bonus

The most important advantage of having a car insurance policy is the No Claim Bonus (NCB)   feature. NCB discount is offered to the customer by the insurer for completing the policy period claim-free. It is given as a discount on the policy premium at the time of renewal.

Factors to Consider When Choosing Car Insurance

A good car insurance policy meets your needs without stretching your budget. Keeping these factors in mind when buying car insurance will help you bag the best deal.

  1. Hassle-free process

The entire process of signing up for car insurance should be hassle-free and quick. Amongst the various policies available, a policy with quick and easy purchase and claim settlement processes is always a good idea.

2. Customer support

Customer support is the next vital step when choosing a car insurance company. Good, soft-spoken, reliable staff help navigate the hassle of buying an insurance policy.

 Types of Car Insurance Coverage

There are several types of car insurance coverage. The three important ones are:

Unlike comprehensive coverage, collision coverage covers the vehicle only in the case of an accident. It includes repair expenses.

This policy covers the owner’s and passengers’ medical bills and hospitalization charges in case of an accident. 

If an insured car is hit by an uninsured vehicle, or if the third-party driver refuses to pay for the expense of the damage caused, then this type of policy comes in handy. 

Methods of Buying Car Insurance

A car insurance policy can be bought both offline and online. However, with digitalisation, it is much easier to buy car insurance online. Sitting in the comfort of your home, purchasing the policy is effortless. In addition, most insurance company websites have user-friendly interfaces which let you explore, research, compare and understand the policy inclusions and exclusions thoroughly. Also, online payment gateways are safe and secure ways of making online transactions.

 Steps to Buying an Insurance Policy

Here is a step-by-step guide to choosing and buying car insurance that meets your needs as well as is in your budget.

Before finalizing the car insurance policy, make sure it meets your needs adequately. When choosing between third-party insurance, a comprehensive car insurance policy and own-damage insurance, you should focus on what you want from your policy.

When buying car insurance online, compare policies offered by different insurance companies. Shortlist the ones you like and then make a decision. 

Add-on covers are optional and come at an additional cost. You may choose relevant add-ons to widen the scope of coverage. Some popular add-ons include:

Applying for a car insurance policy is simple and easy. Fill in the simple details such as personal and vehicle details, and the car registration information and submit it to initiate the process. Once you make the payment, your policy document will be mailed to your email address.

Difference Between an Online Policy and an Offline Policy

Buying car insurance comes with significant advantages. With the high supply chain demand and sales, all the insurance companies have turned their operation online from offline. Therefore, there are added benefits of purchasing an online policy. Let’s study the fundamental differences between the two processes.

1. No documentation

While lengthy forms are getting outdated, offline methods still adhere to the nightmare of filling up those detailed forms. However, the online process requires less documentation, making the process less cumbersome.

2. Time-saving

Buying car insurance online saves both time and money. The time and effort taken to visit an insurance company’s office in person can be avoided by applying for insurance online. You can also save the money spent on commuting and paying commissions to insurance agents.

3. Low prices

Operating from office space is an expensive affair for any company, and insurance companies are no different. The infrastructure cost, manpower, and paper-based documentation—all these increase the cost of services provided. However, these expenses are reduced when the sales happen online. So, most insurance companies pass on the benefit to their customers when they purchase car insurance online.

4. Easy to compare

Online policy purchase allows you to compare a wide range of policies offered by different insurers. Several aggregator websites let you easily compare policies and shortlist the ones that meet your needs. They also let you purchase the policy through their website. This way, you can make an informed decision.

5. Renewal

To enjoy the uninterrupted benefits of car insurance, you must renew your policy before it expires. It is easier to renew the policy online as you can do it with a few clicks.

Gone are the days when you would depend on a car dealer or insurance agent to see you through the car insurance policy purchase process. Today, you can research, compare and buy a policy of your choice within minutes from the comfort of your home.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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