4 Ways To Compare Car Insurance Plans Online In India
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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.
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Top 4 Amazing Ways to Compare Car Insurance Policies:
1. Lower Your IDV
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.
2. Cheapest Isn’t the Best
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.
3. Compare Premiums for Add-ons
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.
4. Shop for Discounts
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.

Author Bio
Paybima Team
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.
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