Digitization is changing how many sectors operate, including the car insurance market. Online portals provide all critical information about car insurance policies, including available features and perks. Potential clients can benefit from such knowledge while making selections.
Customers can also purchase insurance policies through insurance providers’ websites. As a result, you can buy car insurance online conveniently from your home or workplace with just a few clicks.
If you’re thinking about buying car insurance online, here are five pointers to keep in mind –
Selecting the ideal car insurance policy –
When obtaining car insurance online, choosing the ideal car insurance plan for your needs is critical.
A third-party vehicle insurance policy covers property damage, bodily injury, demise, and personal casualties. *Based on the Motor Vehicles Act of 1988, car owners must carry a minimum of third-party car insurance coverage.
At the same time, a comprehensive car insurance policy provides more coverage than third-party car insurance. It also covers damage to the policyholder’s car.
Check to see if your car insurance company offers a cashless option –
Check whether the car insurance business has affiliations with a network of garages before purchasing a car insurance policy. If your automobile needs repair, you can go to a garage provided by the network of your car insurance carrier.
The car insurance company collects the repair costs directly with the garage, known as cashless settlement. This service saves you the time and effort of multiple follow-ups, e-mails, and visits to your car insurance provider to obtain a reimbursement.
Understand the No Claim Bonus concept (NCB) –
Many vehicle insurance policyholders must familiarize themselves with the no-claim bonus (NCB) concept.
NCB is a reward or award provided to a car insurance policyholder for not filing a car insurance claim during the preceding policy year. An NCB might accumulate during a period of up to five consecutive years.
You may take advantage of such a reduction while renewing your car insurance. If you switch from one vehicle insurance carrier to another, you can transfer your NCB and enjoy lower premium rates.
NCB assists car insurance clients in receiving savings from 20%* to 50%* if they have filed no claim for one or more years. One can use an online car insurance calculator to find the ideal rates.*
Select additional covers –
- When choosing car insurance online, getting additional coverage above your standard insurance plan is prudent. To increase your coverage, you can choose from various add-ons, commonly known as riders. *
Here are some of the popular rider alternatives on the market –
- Zero depreciation: This coverage provides compensation for four-wheeler items based on the actual cost rather than the depreciated cost.
- No Claim Bonus protect: With this rider, you can keep your NCB even if you have filed a car insurance claim during the policy year.
- Roadside assistance: In case of a sudden car breakdown, the car insurance provider helps in arranging for a mechanic or gasoline, fixing a flat tyre, arranging for alternate transportation, and, in rare cases, even lodging.
- Enhanced owner personal casualty: This add-on provides additional coverage in the case of a two-wheeler casualty that results in passing away or permanent disability.
- Engine protection: It covers the cost of engine repairs or replacement of the electronic circuit against damage caused by lubricating oil leakage, engine malfunction, and water ingression.
* Standard T&C Apply
Look at car insurance prices and choose one that provides coverage that meets your needs.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.