Team AckoJul 22, 2021
Driving a car to college can mean different things to different youngsters. For some, it might be a style statement. And for some, it might just be a convenient way to commute. Irrespective of your motivation to drive your car to college, one thing is certain, your vehicle needs insurance. And there are some car insurance do’s and don’ts for college drivers that will prove helpful. Read ahead to know more on this topic.
Here’s a detailed section about crucial do’s and don’ts to be followed for productive car-insurance experience for college students.
Here’s a list of things you must do.
Don’t be in a hurry to tick the insurance-buying/renewing task off your list. Conduct some basic research about the type of car insurance plan that will meet your needs. Also, spend some time researching about the insurer from whom you want to buy the plan. Going through online reviews is a good option.
Do Buy a Wide-ranging Cover
You might be tempted to opt for a low-cost Third-party Car Insurance Policy but it’s best to choose a Comprehensive Cover for much-needed wide-ranging insurance coverage. There’s no doubt that a Comprehensive Plan scores over the basic Third-party Plan in terms of coverage and benefits. But in addition, there are certain extra covers (add-ons) that can help you with enhanced coverage.
Add-ons bump up the premium, thus be judicious while buying them. Buy only those that will add value to your policy. For example, A Zero Depreciation Add-on is a great pick for new and fairly new cars (under five years) as it eliminates depreciation calculation while settling claims leading to a higher pay-out.
Traditionally, insurance is not something that was purchased online. Thus, you might feel a bit hesitant to buy it via a website as compared to an agent. However, just as you book movie tickets or order food online, you can also buy car insurance online. Just make sure you are buying it from a certified insurer. This can save you a lot of money.
Some car insurance terminologies can be a bit confusing to understand. If you find yourself lost while going through some features and benefits, get them clarified by either reading more about them on the insurer’s website or by discussing the same with the insurer’s Customer Care executive.
Here’s a list of things you shouldn’t do.
In the pursuit of saving money, you might feel like buying a policy with the lowest premium. However, make sure that the policy you are buying does not compensate in terms of cover, service, and claim settlement. Thus, go for a plan that comes at a low cost and does not compromise on the insurance experience.
Yes, this might sound weird. After all, isn’t that the reason why you buy insurance? To claim in case of damage? However, claiming for minuscule damages can be counterproductive. Before raising a claim, get an estimate of the repair cost.
Note that you will have to bear the cost of Deductibles and Consumables while settling the repair bill. Also, raising a claim will reset the No Claim Bonus, which is a renewal discount (up to 50%). Thus, you might end up losing more than gaining in raising claims for minor issues. It would be best to manage minor repairs on your own and benefit from the renewal discount.
Car insurance policies usually come with a policy period of a year. They need to be renewed before the expiry date for continuous coverage. An expired policy does not offer any kind of advantages. Thus, driving a car with an expired car insurance policy is as bad as driving a four-wheeler with no insurance.
If your friend, who doesn’t have a Driving License, damages your car, the insurance company will not be liable to cover such instances. If a person is not qualified to drive a vehicle, it can be a safety hazard for the driver as well as for others in the vicinity.
Here’s a short section about crucial do’s and don’ts to be followed for productive car-driving experience for college students.
Here’s a list of pointers you must do while driving your car.
Do wear a seat belt
Do follow traffic rules like maintaining the speed limit
Do keep car-related documents handy
Do ensure periodic servicing of your vehicle
Do be considerate of other drivers and pedestrians
Here’s a list of pointers you must avoid while driving your car.
Do not drink and drive
Do not drive without a valid insurance cover
Do not use your mobile phone (texting/calling/scrolling) while driving
Do not engage in illegal activities like car racing
Do not hit and run
All types of car insurance policies that are available offline are available online in India. Here’s a list of the policy options that you can go for while insuring your car online.
This is the law-mandated car insurance cover. It is the most basic of car insurance plans and includes the Personal Accident Cover. Such plans do not cost a lot but do not offer extensive coverage as well.
Such a plan makes up for the lack of coverage in the above-mentioned Liability-only plan. It comes with the Liability Cover, Personal Accident Cover, and the Own Damage Cover (pays for repairing the insured car).
This policy is a combination of a Comprehensive Cover and a Zero Depreciation Add-on. Since the Zero Depreciation Add-on is a popular cover, insurance companies often offer a policy where this cover is included with the Comprehensive Cover.
Here, you can consider the Comprehensive Cover as a base plan and strengthen it with add-ons of your choice. Apart from the Zero Depreciation Add-on, some of the popular add-ons are Roadside Assistance, Invoice Protection, Engine Protect, etc. Choose only those that are valuable for you. Buying them is not compulsory.
Listed below are key pointers covered in this article.
Research and choose a wide-ranging cover
Be alert while driving and avoid using your mobile phone when seated in the driver’s seat
Do not drive with an expired car insurance policy
You can insure your car online within minutes
Choose only those add-ons that fulfil your insurance requirements
Is the penalty for non-compliance concerning car insurance different for young drivers?
No, the non-compliance penalty concerning car insurance is the same across age groups. It is Rs. 2000 for first offence and Rs. 4000 for a repeat offence.
Why is it illegal to drive with an expired Car Insurance Policy even though I have a valid Driving License?
You need a valid Driving License as well as a Valid Car Insurance Policy to drive legally on Indian public roads.
Do I need car insurance even if I drive my car only from my home to my college, which does not involve driving on highways?
If you are driving a car on a public road, then you need to insure your car.
Is it okay to drive my friend’s car if I have a valid Driving License?
Yes, you can drive your friend’s car provided you have a valid and appropriate Driving License to drive that category of car. For example, you shouldn’t drive a commercial vehicle with a private car’s Driving License.
Can I renew car insurance online using my father’s debit card even if the car is registered in my name?
Yes, the bank from where the premium is deducted doesn't need to match the policyholder’s bank details.
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