3 min read
Updated on Nov 29, 2022
You want to buy a new smartphone and have zeroed down on a specific model. Before you proceed with the purchase, you would want to check different websites and the offers that they have. If that is the case, with a smartphone, shouldn’t you also compare car insurance before buying one? However, unlike a smartphone or other products, you get a lot more when you compare car insurance online. The following amazing ways will ensure a learning experience when you compare car insurance and help you make a more informed decision.
Visual Stories by PayBima
The IDV or Insured Declared Value of your car is essentially the current market value of the car. In the event of a total loss, the insurer will pay you the IDV. However, if you are someone who does not use their car much, you can always reduce your car’s IDV when you compare car insurance online. A lower IDV results in a direct reduction in the policy’s premiums.
It is recommended that you do not opt for the cheapest premium when you compare car insurance online. The cheapest policy out there might make your wallet happy for some time, but it might not be the best deal. A quick look at what the policy offers versus the premium that an insurer charges, is a good way to proceed. Insurers might bundle a rider or two along with the base policy, which can be a much better deal for a small bump in the premium price.
Though it is not mandatory, the inclusion of an add-on to your car insurance policy can make a lot of difference. Add-ons are additional features that you can plug into your existing comprehensive car insurance and enhance its capabilities. Some of the most commonly opted for add-ons are roadside assistance cover, zero depreciation cover, engine protection cover, etc. As you compare insurance policy, you can check the premiums that each insurer charges for the add-ons.
If you make it a habit to compare car insurance, you can benefit from discounts. Insurers usually offer normal discounts, so you can check the discount percentage while comparing. Another easy way to avail of handsome discounts is to opt for long-term car insurance policies.
Now that IRDAI has made way for long-term plans, you can get a comprehensive car insurance policy for a tenure of two or three years at a go. Apart from this, you can also avail No Claims Bonus (NCB), if you have not claimed your policy during the previous term.
As you compare insurance policy, you save a considerable amount of money, get a policy that ticks all your requirements, and can customize the policy as per your needs. Once you get into the habit to compare insurance policy, you can save on other policy types as well and not just car insurance policies.
Also read: What is Not Covered by Your Car Insurance Policy?
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
Pollution is a huge threat that has been contributing severely to the deteriorating health of people in India. A major contributor of the increased air.
Airbags are among the significant safety innovations of the recent time as they provide vital cushioning to people sitting in a vehicle during a crash..
For keeping the environment clean and pollution free, people have now started using Electric Vehicles in India widely. Let us understand in this post how.
A car insurance policy number is a basic requirement during accidents, mishaps or at regular traffic police checking. Let us understand how to get an.
Accidents and uncertainties are part of life that comes unexpectedly without any prior information. Hence, it is very important to have a first aid kit.
To drive a car on Indian roads, the car needs to be covered by an insurance policy. However, to ensure continuous coverage, the policy needs.
High motor Insurance premium rates have been a cause of worry for many. Hence IRDAI introduced vehicle insurance based on usage where premium is levied.
Table of Content Types of Car Insurance Policies Bharti AXA Policy Download - Steps to Consider Is the hard copy of the Bharti AXA car.
Table of Content About Third-Party Motor Insurance Policy How to Claim Third Party Car Insurance What Comes under Third-Party Claims? Third-Party Claim Process - Conditions.
The foremost and undoubtedly the most crucial decision before buying insurance for your car - which type of policy would best suit your needs? Read.
Speak to our advisor
Corporate Office : Mahindra Insurance Brokers Ltd ( A Mahindra Group Company ) Sadhana House, Ground Floor, 570 P. B. Marg, Behind Mahindra Towers, Worli, Mumbai 400018.
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2023 Mahindra Insurance Brokers. All Right Reserved.