Getting a new car always marks a significant milestone in the life of everyone. The authority of ownership brings with it unbridled joy and happiness. But what most people fail to realise is that it is equally important to make sure that their new purchase is insured against all possible calamities. The following article throws light on the important aspect of car insurance, and how to get the best out of the various policies available in the market especially if you do not want to go with the policy provided by the car company.
Purchased a new car? Great! Hold on; the job is not over yet. You may need to proactively engage yourself in the process of insuring your new purchase against damages and theft in order to make sure that you’ve got it all covered. While you may buy the policy provided by the car company, you can also shop around and buy from any other provider to save some money. Here are five things that you need to keep an eye on when hunting for a car insurance policy.
1. Get Thorough and Delve deep
This is the single most important thing which should be your first priority on the list. Go through every single detail, i.e., IDV, terms and conditions, type of plan, add-on features, deductibles, etc. This way, you will understand what your policy will cover, and what it will not cover.
2. Compare with Flair
The next best thing that you must consider is comparing various car insurance quotes which you are researching for. There are a plethora of websites which offer such services. These sites enable you to pick and choose the policy which best suits your pocket as well as needs.
3. Check Rules Regarding Portability
This will come in handy in the unlikely event that you need to change your insurer. The objective here is to make sure that the policy transfer is as hassle-free as possible. So, the first thing that should strike your mind is whether a continuum exists in terms of benefit transfer, the major among them being accurate IDV, No Claim Bonus, etc.
4. Consider Getting Zero Dep
Taking a brand-new car out of the showroom comes with mixed emotions of excitement and fear. While there is the excitement of driving the newly bought car, there is also a fear of minor accidents and scratches. To stay away from such fears, consider getting a Zero Depreciation policy. This enables you to drive worry-free and enjoy your new car.
5. Avoid the Dejection of Rejection
What this means is that you must be extremely thorough and up-to-date in terms of obtaining knowledge about the conditions in which your claim is liable to be rejected. An insurer will reject a claim if it is the case of intentional damage. Similarly, certain clauses mentioned in the exclusions section of the policy will not qualify for a claim. In such cases, the claim is ought to be rejected.
In hindsight, the process of choosing a car insurance should be well thought out and of course, well researched. Familiarising yourself with the terms and conditions, comparing, knowing about renewal criteria, and getting to know the risk factors which threaten to derail your claim are things which will go a long way in ensuring that you are on the right track. Make a note of these considerations, and you will be sorted.