5 Mistakes to avoid while buying a car insurance policy (1)

5 Mistakes to avoid while buying a car insurance policy

We all know the importance of owning an insurance policy for your cars. These are times most of us purchase our desired things online. Internet has made our lives comfortable. However, the chances of committing mistakes occurs even to the best of people while purchasing online. From ordering the wrong product to not analyzing the product completely, there are many chances of a mistake while purchasing online. Similarly, while insurance purchase has made easy since it became easier to buy and renew your policies online. It is also important we avoid certain mistakes when we renew or buy car insurance policy online. Mentioned below are few mistakes which people must avoid when they purcase car insurance policy online

  • Not Comparing Policies

One of the main mistakes buyers do is not comparing the policy quotes online. There are various platform which you can make use of to compare policies online that way, you can get a clear idea about the features and benefits of many products in the market and pick the one that fits your requirements the most. However, when you go ahead and purchase a policy just because of enticing factors like low premium, you may miss out on important features that may cost you a lot in the event of any unfortunate event like accident. 

  • Deductibles

Voluntary deductibles are amount that the buyer pays out of hand when they raise a claim. It is predefined at the time of policy purchase. When you choose a voluntary deductible, then you can enjoy a lower premium. However, make sure you choose the right amount of deductibles, if you opt for a higher deductible, then you will have to pay more out of your pocket during claim settlement

  • Not opting for enough coverage

While getting a third party coverage atleast for your cars is mandatory according to law, one has to understand that it wont come to your aid when your own car suffers damage in an accident. It is the reason where comprehensive car insurance coverage has an edge, as it covers third party damage and own damage as well. 

Considering the high propensity for accidents in Indian roads, it is wise to have a comprehensive cover as it offers wider coverage. 

  • Not choosing the add-ons

It is true that comprehensive car insurance policy can offer a good protection to your cars. However, in order to have enhanced protection for your cars, it is always good to include some add-ons. Certain add-ons like Roadside  protection cover, engine protection cover, and NCB protection cover can come in handy during the crisis. Analyze your vehicle requirements and take a prudent call

  • Not reading policy terms and conditions

A Car Insurance policy contains terms and conditions that every buyer must read and understand before purchasing. It carries important information such as IDV, policy inclusions, and exclusions etc. 

Not reading the documents properly will pave the way to future confusions in the future. If any terms of the policy are unclear to your understanding, you can get them clarified with the insurer at the time of purchase itself. 

Conclusion

Claim rejection is a heartbreak for all car insurance holders. Most of claim rejections happen due to not buying the proper policy and not understanding the inclusions and exclusions of the same. In order to avoid it, make sure you do not commit any mistakes as mentioned above and pick the right policy so that you do not suffer later.

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