It is normal for people to look for options while buying any product. This holds true for a person looking to buy car insurance as well. Comparing car insurance quotes and other features has its own set of benefits that help you buy the most suitable policy available in the market.
Car insurance comparison was not as popular before as it is today. This is because comparing multiple car insurance policies manually was a tedious process. Plus, before insurance policies were available online, people bought them from insurance agents that may or may not have offered all the policies available in the market. Nowadays, one can compare policies within a few clicks. This is possible thanks to the easy availability of the internet and smartphones.
- Things you need to know about car insurance comparison:
- Most common car insurance exclusions:
Things you need to know about car insurance comparison:
1. Comparing car insurance is absolutely free:
Car insurance comparison tools are available online and are free to use. One does not need to buy a “special subscription” or “packages” for comparing car insurance quotes. Also, there is no limit on the number of times you are allowed to compare car insurance policies. You can try multiple combinations of policies or keep tweaking your requirements until you get a satisfactory result.
It is often advised that one should renew car insurance at least a week before the expiry of the previous policy. It gives you ample time to compare different policies and then buy the one that you feel is best suited to your requirements.
2. It helps you find the best policy:
We always want the best benefits out of a purchase we make. With respect to car insurance, one policy will not be the “best” for everyone. Finding your best policy is the key. Different car owners may have different uses for the cars they own. One may use it for daily travel while the other may hardly start the engine. One may travel with a number of passengers while the other may travel alone.
The best policy for one person might turn out to be insufficient in coverage for another. Comparing car insurance will help you select the features you want to use and help you find the best policy among the available options.
3. You can buy the same features at cheaper rates:
Multiple products of the same type are available in today’s competitive insurance market. Insurers are striving to deliver the best products to their customers. In this race, prices of car insurance policies have also become competitive. This holds true for coverages other than third party car insurance, as the rate of this policy is decided by the Insurance Regulatory and Development Authority of India (IRDAI).
When you set out to compare car insurance online, you will understand that the features that suit you the best are offered by various insurance companies at different rates. There is no harm in choosing the cheapest policy if it provides the needed coverage and services. However, make sure that you are confident about the insurance company offering that particular policy.
4. Does not require any expertise:
Gone are the days when insurance was a complex industry that bombarded a layman with jargons and heavy legal language. Today, insurers want you to buy a product that is best for your needs. You will easily find basic information like the meaning of third party car insurance if you search online.
Nowadays, documents are written in a relatively easy-to-understand language. Also, if you do not understand any part related to your policy or have a query, you can simply call the customer care executive of the insurance company and he/she will resolve your query. Thus, you do not need to be an expert in car insurance while comparing the policies.
5. Can be done from anywhere at anytime:
This is probably one of the best features of comparing car insurance. You can compare policies from anywhere at any time. Just like you can access social media anytime you want. Thus you can begin looking for your ideal insurance policy much before you get your car registered or before your previous policy expires.
Note that reviewing the features, benefits, and exclusions of your car insurance policy from time to time will help you keep up to date with any changes made by the insurance company or the government.
Most common car insurance exclusions:
Exclusions are situations that are not covered under insurance by a car insurance company. Here are the common exclusions:
- Damage while driving without proper documents like driving license
- Regular wear and tear
- Any kind of mechanical or electrical damage
- Damage caused due to drunk driving or driving under the influence of an intoxicating substance
- Damage due to an illegal activity
- Damage due to war
- Intentional damage
Note that the exact list of exclusions will be mentioned in your policy document. You should read your car insurance policy thoroughly to know what all your insurer will not cover.
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