India It is legally necessary to take a car insurance on purchasing a new car. This protects your car from any damage or you or others in the event of injury. If you are buying a car for the first time, then it is very important to pay attention to some things before purchasing an insurance policy.
There are 2 types of car insurance
Third-party insurance: This is legally minimal need. It only covers the property of a third person’s property or covers injury to him.
comprehensive insurance : It covers third-party insurance as well as your own car damage. It is always better to take extensive insurance to be completely safe.
Understand your needs
It is important to understand your needs while buying a car insurance. The premium of your policy depends on the declared price (IDV) of your car, which is the current market value of your car. Choose more IDV for better coverage. Also, consider ad-on-on cover such as individual accident cover, zero depication cover, engine protection cover.
Compare the policy
Many car insurance policies are available in the market. To find the best policy according to your needs, it is necessary to compare premiums, facilities and ad-on covers offered by various insurance companies.
Check the claim settlement ratio
The claim settlement ratio shows what percentage of the total claims have been settled by an insurance company. Before purchasing the policy, definitely see the claim settlement ratio of the insurance company you are considering. The more claim settlement ratio is a sign of a reliable insurance company that will quickly settle your claims.
Also know what is not covering
All car insurance policies do not cover some things and it can vary from every company. It is necessary to read the policy document carefully so that you know what is not cover. Typically, the influence of alcohol or drugs does not include the damage caused by driving, war or nuclear risks. It is important to understand these things well to avoid any trouble during the claim.
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