Tips To Consider Before Buying A Motor Insurance Online

Motor insurance coverage is a documented agreement between an insurance company and a vehicle owner that includes several benefits and has many ways to pay off. *

* Standard T&C Apply

Any loss or damages brought on by any casualty, theft, third-party liability, fire, or natural disaster is a safeguard against financial repercussions. The critical thing to remember is that by the Indian Motor Vehicles Act 1988, a vehicle owner must possess a valid third-party insurance policy before using their vehicle on Indian roads.

Without the inconvenience of insurance agents and extra paperwork, buying motor insurance online allows you to compare and choose from several options available that meet your needs.

Here are some tips to consider before buying an online motor insurance:

Conduct a market analysis:

The first thing to consider is understanding the different motor insurance plans that insurance firms provide.

Insurance for third parties:

The 1988 Indian Motor Vehicles Act mandates a third-party insurance. It protects the third party from any harm your vehicle may do to their property or vehicle; in such circumstances, having insurance may make the difference.

Comprehensive insurance:

Comprehensive insurance includes coverage for third-party liability and damage to your vehicle from theft, casualties, man-made disasters, and natural disasters. It offers an overall coverage for your vehicle. *

* Standard T&C Apply

Look for an all-inclusive insurance plan:

When searching for motor insurance online, you need to pay attention to how much coverage the insurance policy offers. Ensure that you read the fine print and ensure that you know the list of things for which you can file a claim. Your protection against damages may increase with a comprehensive motor insurance policy. *

* Standard T&C Apply

Research on vehicle insurance add-ons:

For a complete package, consider selecting add-on covers while purchasing motor insurance online. Some of the add-on covers you can choose from are zero depreciation, engine protection, roadside assistance, and consumables cover.

Online policy comparison:

Obtaining motor insurance for vehicle insurance online payment is simpler than ever, thanks to the expanding web presence of the insurance market. After receiving multiple quotations, it is simpler to compare them and choose the one that best meets your needs.

Online policy comparison can be a crucial procedure. Using a vehicle insurance calculator may help find the right one.

Review the insurance policy’s inclusions and exclusions:

When choosing a motor insurance policy for your car, you should know what can and cannot be covered. Look at all the goals that fall under the inclusions.

Check the boxes next to all the plan’s exclusions, including sub-limits, clauses, and occurrences.

Understand your insurer:

Knowing the benefits your plan offers is essential. For a better perspective, check and compare the claim settlement ratio (CSR) of insurance with other insurance plans.

The CSR measures how many claims were paid by the insurer. Recognise the claim procedure:

There are two ways to file an insurance claim – a reimbursement or a cashless claim.

When you visit a partnered garage for repairs connected to your insurance company, the insurance company covers the costs  with the garage directly, utilising a cashless facility.

In the second case, you must make the vehicle insurance online payment upfront and then request reimbursement from your motor insurance company when you take your vehicle to a non-network garage for repair. 

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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