A car insurance policy protects your car your any damage caused by your car. There are two kinds of car insurance – Comprehensive car insurance and third-party car insurance.
- Comprehensive car insurance – this is not mandatory and it covers expenses due to damage by your car to third-parties.
- Third-party insurance – this is mandatory, and it covers third-party damages.
Pick a Trusted Insurance Provider
The market is buzz with several insurance providers offering lucrative policies. However, to be sure do a little background study on them such as talk to existing customers, talk to your family in detail about the policy they want, discuss with the insurance provider’s representative and so on. You can check their claim settlement ratio to gauge them better and to understand what process must be followed to settle claims faster and accurately.
Review Your Coverage
Understand the IDV which is the maximum sum assured decided by the insurer. This sum is provided in case of theft or loss of the car. The amount of IDV equals current market value of the car and decreases with depreciating value of the vehicle overtime.
Check for Crash Repairs
Make sure your insurer offers you a reliable repair shop for any kind of repairs for your car. This is important because crash shops may push you to use cheap replacement parts resulting in poor fitting, which don’t meet safety standards.
READ MORE: HOW TO CHOOSE THE BEST CAR INSURANCE POLICY?
There are several car insurance deals available today in the market. To take advantage of discounts and offers check with your insurance provider before you sign up with them.
