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Important Factors To Consider Before Buying Car Insurance!

Important Factors To Consider Before Buying Car Insurance

A car is a valuable asset; the pride that a car owner feel while maneuvering thir vehicle, the one they bring home after months of hard work and research, is indescribable. So, even the slightest bump can hurt and the minor scratches can give you major aches. And, if worst scenario has to be imagined, what if your loving car meets an accident?

Think this way: “Are you doing enough to protect your car”?

Maybe, or maybe not!

Motor insurance is like a protective umbrella that protects your car from incurring losses and unforeseen risks. It’s more of a legal requirement that gives you financial coverage at the time when your car is damaged, stolen or hampered.

Besides, reliable car insurances also cover injuries to the other parties, drivers, passengers as well as other people. They can also provide you with financial support if your car is stolen, vandalised or destroyed by other natural calamities.

So, if you are planning to buy car insurance, here are some key factors you should consider before buying the one:

Types Of Insurance Policy

How do you know which type of very cheap car insurance do you need? What if you end up picking the wrong coverage? Have a look at different types of car coverages you can look before making the decision:

  • Liability coverage: Liability insurance will cover damages from injuries and other property damages for which you can be legally responsible. It will protect you from the damage-repairing cost as well from the claims resulting from personal injuries and damages to property.

Besides, the policy covers both legal costs as well as legal payouts for which the insurer would have been responsible if found liable.

  • Collision coverage: If there’s another vehicle involved in the accident, collision coverage will protect your car.
  • Comprehensive coverage: The comprehensive coverage will offer extra coverage in the situation when there’s another vehicle involved in the accident. This coverage will pay for the damages like collisions, vandalism, weather events and accidents occurred with animals or anything.
  • Personal injury coverage: This policy will cover the medical expenses and loss of income. Depending upon your policy, the personal injury policy will offer as much as 80% of the total expense.

Terms Of The Policy

Terms cover what the policy covers; however the exclusions involve what it’s not mentioned in the policy. Confused?

One of the biggest mistake that car insurers make is that while they thoroughly read the benefits of the policy, they forget to read the conditions that car insurance doesn’t cover. So, make sure you read both terms ( inclusions as well as exclusions) before making a decision.

Add-On Features

If you think that you would need more than just your car coverage, you can extend the policy cover to get more benefits. For instance, some insurance policy offers insurance to the loss of car key while others offer claim for broken car locks. So, before making a choice, ask your insurance provider about these add-ons. You can also ask if they offer road assistance, personal accident cover, etc. to get the most of your insurance coverage.

No-Claim Bonus

Offering No-Claim Bonus is one of the best ways to minimize premium on car insurance. It’s more like a discount in the annual premium payables for not asking any claims in the year. So, before buying insurance, do consider the no claim bonus. Also, the NCB is linked to the policyholder, not to the vehicle, which means you can get benefits when you replace your old car.

Shop Around

The insurance provider is overflowing, so before selecting any policy provider, get as many as quotes as you can, shortlist the best policy providers and then pick the one.

Know What You Need

Lastly, ask yourself about what you exactly need and which type of car insurance you should get for your car. Compare them and then make a decision! One of the prime factor insurance companies differentiates themselves is by offering extras. Things like 24×7 services, around the clock claims, first accidental rebate and claim service guarantee are few things that insurance companies offer to woo clients.

With all the key factors in hand, you are now ready to buy an insurance policy! Get the one and stay safe!

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