Related Articles
Car Insurance Policy Comparison : 6 Tips For Car Insurance Comparison To Make Better Decision
.png)
The very first year of car ownership is probably the best in terms of easiness. For starters, the insurance is almost always taken care of by the dealer and the servicing costs are low as well.
However, one must renew the policy on time to continue with those benefits. Failing to do so can leave you exposed to a lot of financial burden in the case of an accident. It is thus recommended to compare car insurance online and continue with the benefits of a valid policy. Before you start to compare insurance policy, here are the top 6 tips that will help you secure the best car insurance policy in India.
6 Tips to Compare Vehicle Insurance Policy
1. Check the IDV
The IDV or insured declared value of a policy is one of the core parameters that decide the policy premium. If the car is beyond any repair or is stolen, the insurer will pay you the IDV of the car. As you compare car insurance policy, do not forget to look at the IDV of the car. As a policyholder, you can change the IDV and see how that impacts the policy premiums.
2. Compare Premiums
Compare vehicle insurance online to buy a policy that fits into your budget. Given the sheer number of insurers offering policies, it is very difficult to get the most affordable policy without comparison. As you compare car insurance policy, do not forget to look at the premiums versus their policy coverage. As opposed to only looking at the policy premiums. This will ensure that the policy not only keeps your wallet happy but also your mind at peace.
3. Add-Ons for Better Coverage
An out-of-the-box car insurance policy might suffice for a lot of car owners, but not for all. This is where the add-ons come into the picture. They enhance your policy’s capabilities by a considerable margin without you having to shell out a bomb for the same. When you compare car insurance online, you will come across commonly opted-for add-ons such as zero depreciation cover, NCB protection cover, emergency roadside assistance, etc.
4. Discounts on Offer
Another excellent perk of comparing policies is that you can compare the discounts that insurers are offering and make an informed decision. If you want to make the most of the deal, look for a policy offering a higher discount percentage.
5. Network Garage List
Insurers usually have a list of garages where you can claim cashless benefits and hassle-free normal claims as well. A quick look at these lists when you compare car insurance policy can be quite helpful.
6. Pay Per Use
Insurers now let you opt for policies for the number of kilometers that you drive and not a blanket premium. This can help you save a few bucks while renewing your insurance.
As you get into the habit of comparing insurance policies, you slowly discover the various benefits of doing the same. And the most prominent one being, compare insurance policy so that you can take a more informed decision.
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 21 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.
Other Motor Insurance Products
Car Insurance
Latest Post
.png)
Marriage is built on shared dreams, countless compromises, and a commitment to protect each other through thick and thin. While love, trust, and communication form the emotional foundation of marriage, a little bit of financial planning doesn’t hurt either. This is exactly where spouse term insurance steps in — a simple yet powerful way to safeguard your future together.
Renewing a car insurance policy before expiration is crucial for car owners. A car insurance policy is not only mandatory for driving a car on Indian roads but also important to ensure the continuous availability of benefits under the policy. Learn more in this blog
When was the last time you thought about getting a life insurance policy? If your answer is “I will get to it someday”, you are not alone. Despite India growing as one of the fastest expanding economies, life insurance penetration across the nation has remained surprisingly low. Life insurance penetration fell slightly to 2.8% in FY24, down from 3% in the previous year.
If you are looking at investment policies offering INR 1 Crore in 5 years, we talk about some excellent plans in this post to help you choose the best one and reach your goal. However, it is important not to get swayed. Doing proper research and taking advice from financial or insurance advisors is important. Learn about such investment plan in this post.
Speak to our Advisor
+91
By clicking the button, I authorize Paybima advisor to contact me via SMS, Email, Phone, WhatsApp or any other modes overriding my 'DND'.T&C Apply.