Why Compare Car Insurance Online?
By comparing car insurance policies online, you can get a better deal on the premium amount. It also allows you to find a car insurance policy that is rich in features and is suitable for your requirements. Here are some reasons which will help you understand why you should compare policies before buying car insurance.
Value for Money
Comparing car insurance policies based on their cost will help you understand if the policy fits your budget. It is important to note that a low-priced policy may offer less coverage as compared to a car insurance policy that costs more. Buying a third-party car insurance policy is mandatory by law, however, going for a comprehensive plan will be beneficial as it offers more coverage. You can get an additional layer of security by opting for Smart Zero Dep add-on.
Comparing policies will help you understand the features of a policy that might give the most suitable coverage. When your priority is better coverage, you can easily compare various types of car insurance policies based on this factor. A third-party car insurance policy offers the least amount of coverage as compared to a comprehensive policy powered by the zero depreciation add-on. Comparison will give you a clear idea of the coverage offered by each type of car insurance policy.
Comparing car insurance will give you an idea of the services offered on each plan. We can provide a bunch of additional services if you opt for a comprehensive plan. We offer instant services like 3-day repair service in metro cities and 1-hour pickup of damaged vehicle.
Comparing Types of Car Insurance Policies
Third-party Car Insurance
If you compare a third-party car insurance policy to a comprehensive policy, you will understand that a third-party policy offers less coverage. It only covers you against any third-party liabilities. However, you cannot raise a claim for damage caused to your car. Buying at-least a third-party car insurance policy is mandatory under The Motor Vehicles Act, 1988.
Comprehensive Car Insurance
Compared to a third-party policy, a comprehensive policy will cover you for the damage caused to your car as well. By comparing a comprehensive policy to a policy powered by zero depreciation add-on will help you gauge the coverage offered by both the policies.
Car Insurance Comparison
|Car Insurance Features:||Third Party||Comprehensive||Comprehensive |
+ Zero Depreciation
|Damage to a third-party vehicle||✔||✔||✔|
|Damage due to fire||✘||✔||✔|
|Damage due to natural causes||✘||✔||✔|
|Personal Accident cover||✔||✔||✔|
|Engine protection||✘||Optional Add-on||Optional Add-on|
|NCB protection||✘||Optional Add-on||Optional Add-on|
|Invoice cover||✘||Optional Add-on||Optional Add-on|
|Buy Now||Buy Now||Buy Now|
5 Important Factors Used To Compare Car Insurance Policies
Before you begin with comparing various policies, you need to understand the factors based on which you can compare a similar type of policy. Here are the important factors based on which you can compare car insurance policies.
FACTOR # 1: Price
Even though cost is the major factor, do not compromise on the features of the policy. Look around for the prices offered by different insurers. But, also keep in mind the covers that you need. Pick a policy that suits your requirements and pocket both.
FACTOR # 2: Coverage
Apart from the basic coverage, look out for add-ons such as Zero Depreciation, Return To Invoice, etc. You must understand your driving habits well before buying an insurance policy.
You may also want to take into consideration other value-added services offered by an insurance company.
FACTOR # 3: Customer Reviews
You do not want to spend money on an insurance policy and still be left uncovered during difficult times. So, it is important to go through the customer reviews for an insurer.
Knowing the claim settlement ratio of an insurance company will be helpful.
Also, dedicating some time to do a research on the after-sales services provided by the company may be beneficial.
FACTOR # 4: Your Car’s Age
The Insured Declared Value or IDV depends on your car’s value. However, the value of your car reduces every year. So, the older a car is, the lower is its value. This can lower your premium and the sum assured.
However, age also makes a car riskier and more susceptible to damages. Car insurance companies often check your car’s health while deciding the premium.
FACTOR # 5: Exclusions & Invalid Claims
It is always a good practice to understand what is covered and what is not covered under your car insurance policy.
Going through the terms and conditions, policy wording, and fine-print while buying a policy will be helpful and reduce the chances of rejection or invalid claims.
Frequently Asked Questions:
To effectively compare car insurance quotes and save money, the best way is to do the comparison online. This way you can easily compare various features and prices of different car insurance policies. You can also use a car insurance premium calculator to know the approximate cost of your policy.
Comparing car insurance online gives you the benefit of reviewing the price and features of each type of car insurance policies. You will also save time on requesting quotes from your insurer or insurance agent. You can compare car insurance by yourself without waiting for your agent to send the quotes or to explain the features of each policy you wish to compare.
By comparing various policies online you can find the best car insurance policy that is suitable to your requirements. A best car insurance policy is the one that fits your budget, offers extensive coverage, and the insurance company offers useful services. Thus, it is important that you compare car insurance policies to get the best one for you.
When comparing car insurance policies online, one should consider the coverage, exclusions, price, and services offered. One can always get in touch with us to understand the coverage and other features offered under a policy.
IDV stands for Insured Declared Value, it is the approximate current market value of your car. As IDV forms the base of a car insurance policy, the premium amount will be determined based on this value. Thus, it is important that you set the same amount of IDV for each type of car insurance policy while comparing them.
Comparing car insurance policies will help you find a better deal on car insurance. It will not only help you save money but also find better coverage that suits your needs. Thus, comparing car insurance is an important step while buying or renewing your car insurance policy.
Currently, Acko offers insurance for private cars and bike on the website. The process is very easy and you can get your private car or bike insured within a few minutes.
Please get in touch with us at 1800-266-2256 (toll-free) / 1860-266-2256 (chargeable) or drop and email to hello[at]acko.com to enquire about the other type of products we offer.