You all must have been aware about the insurance. What is insurance, what are its uses, benefits and how it is helpful. Auto collision may happen anytime which can be either your fault or somebody else’s. Most important of all is to choose the coverage which are opt and suitable according to the usage.
To resolve this, it is important to study and find out the best deals and for selecting a best insurer it is important to consider all deductibles, premiums, driving experience and track records.
What is Car insurance ?
When your car is damaged or met with an accident, in that case you need a car insurance to protect you financially and it is especially important in such case.
Collision cover, liability insurance, comprehensive insurance and personal injury protection which is also known as personal accidental cover are the varieties and kinds of insurance you may choose.
Things to Know Before Buying a Car Insurance Policy
While choosing a car insurance policy, the first important thing is to choose the right coverage and after it, the next is to choose a good car insurance company which gives you the interested deals and best returns and rates you want and where the chances of payment of claims are maximized.
For comparing the best car insurance deals, the following points are taken into consideration:
The insurance company which is chosen by the individual should be reliable and it should offer the reasonable coverage against the price they charged from the individual.
The prices charged should be reasonable and according to the coverage provided. However, the prices vary according to the state and the insurance companies will quote different prices for same coverage in different states.
Vehicle coverage at all times
The company should provide maximum coverage and the rates are always according to the overhead costing done and maintained by the insurance company. If you choose a small company and your car gets damaged or met with an accident, in that case the insurance company may become non cooperative and doesn’t allow you a proper claim amount whether cashless or non-cash. Also, never choose a company which doesn’t provide the covers in the out of state actions.
Benefits of having a car insurance
Usually, a third party cover insurance is a compulsory one and you must have a third party cover whether you are owning a new vehicle or old. The reason is that it will protect you against third party damages and liabilities.
As compared to this, you can also opt for comprehensive insurance coverage which includes the damage caused due to theft, fire, accident, cyclone, flood, tsunami etc. or any other natural calamity or other mishap.
Comprehensive insurance also includes the cover against the third party liability. Here are some benefits of having a car insurance
Damage or loss to insured vehicle
Once you get insured for your car, you can claim damages for fire, theft, burglary or any other political issue like terrorism, riots etc. The insurance company will pay the damages suffered by you.
Personal accidental cover
PA Cover is one of the most important cover. It provides the damage caused due to the death/accident of the owner/driver (may be for owner or may be as an unnamed cover for the passenger depending on the seating capacity of the vehicle).
It offers a pre-determined amount under a car insurance policy which is provided in case of permanent total disability.
Large network of garages
Some insurance policies provide large network of garage facilities across the country which is helpful in providing cashless services in all the locations among the country. It ensures convenience to the insured so that they can claim benefit from any corner of the country in the case of damage or accident of vehicle. It also generates a hassle- free service.
Third party liabilities
In case your car met with an accident harming or resulting into the death, accident or any damage to the third party themselves or to any property belonging to third party through your vehicle, then third party liabilities can be paid off if they are covered under your car insurance policy.
Your car insurance policy protects you against any legal liabilities or any bodily harm, damage or injury caused to third party.
No Claim Bonus (NCB)
One of the major advantage of a car insurance policy is having a No Claim Bonus (NCB). The insured individual is eligible for this benefit in case no claim is extracted from the insurance cover. NCB for every claim free year.
It usually adds on in the next year and it can be added as a discount in the premium amount making insurance more cheap and inexpensive.
Zero depreciation cover
Some car insurance policies provide zero depreciation cover which means for the first two claims in the policy year, no deduction for depreciation is applied on the replaced parts. This is one of the most beneficial cover in a car insurance policy as it generates no deduction on account of depreciation for replaced parts in case of accident.