We live in a world where rumors spread like wildfire and reality takes forever to resurface. Unless one takes deliberate efforts to bust a myth, it gets carried on from one person to another for a long time. In this article, we will unveil the reality hidden behind myths related to car insurance. These will help you understand car insurance in a better manner.
- Top Car insurance Myths
Top Car insurance Myths
Myth: I am a safe driver, thus I do not need to buy car insurance
Accidents are completely unpredictable and can happen at any time, anywhere and to anyone. Thus, it is necessary to insure oneself with the help of vehicle insurance. Moreover, buying insurance is not a choice. It is mandatory as per Indian law to buy at least a third-party car insurance policy if you want to drive your car legally on Indian roads.
Driving safely is a prerequisite of buying a car as, even a second of lost focus can cost lives. Not only yours but also of those traveling with you and of other people on the road. Thus, even if you are a safe driver, you have to buy a vehicle insurance policy for your car and keep it active at all times.
Myth: Buying car insurance is a tedious process
Traditionally, buying car insurance involved an agent, paperwork and a lot of time, this combination made the process tedious and time-consuming. However, ever since the dawn of internet, buying car insurance online in India has become convenient. You have access to all the information related to car insurance online in India. Buying car insurance is no more time consuming. In fact, if you know the required details, you can get your car insurance policy within a few minutes.
Myth: Car insurance is complicated
Understanding the basics of car insurance is rather simple. Car insurance is of two main types – third-party (mandatory by law) and comprehensive car insurance (recommended). Once you have decided on the type of car insurance you require, you can move on to buying other features depending upon the type of your policy.
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Myth: Buying car insurance is expensive
If you buy car insurance online, you can easily avail discounts that will help you reduce the cost of your policy. Online car insurance policies are usually cheaper as compared to their offline counterparts. Also, there are various ways in which you can avail discounts like – installing an anti-theft device or becoming a member of the Automobile Association of India, etc. The biggest discount you will receive on car insurance is by driving safely and not raising a claim. This will earn you a No Claim Bonus that can be as high as 50% discounted premium if you do not raise a claim for 5 consecutive years.
Myth: Car insurance claims process is time-consuming
The time taken to settle a claim depends solely upon work process of the insurance company you choose and their operations. Some companies have extremely healthy relations with various car repairers. This helps in quick inspection and repairs. Consequently, your claim settlement process will be quick. Thus, choose an insurance company that has a number of network garages and a reputation for quick claim settlement.
Myth: Only accidents are covered by car insurance
If you buy a comprehensive car insurance policy, it will offer an array of coverages that are not limited to accidents. Various perils like natural calamities, theft, fire, man-made calamities, etc. are also covered under this type of policy. Also, you can enhance the coverage with add-ons like zero depreciation add-on, return to invoice cover, emergency roadside assistance cover etc.
The Bottom Line
These were some of the top car insurance myths that got busted through this article. Remember to always secure your finances with the help of insurance so that you can combat a bad situation in a better way.
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