Points To Consider While Choosing Car Insurance

In India, to buy car insurance online is mandatory, as driving without one can result in fines, license suspension, and other penalties. However, before availing the same, it is essential to carefully research and compare policies to find the best coverage as per your budget and needs. 

Buying car insurance saves you a lot of bucks, fuel, as well as energy. Now, it is essential to understand that years of hard work let you buy your dream car, and this prized possession is prone to damage at any time as such circumstances are unpredictable. Therefore, going for the right car insurance is very important as it protects you from the overall stress and financial loss you may incur if any unforeseen accident takes place.

What is car insurance online?

It is a contract between an individual and an insurance company that offers financial protection in the event of damage, theft, or accidents involving a vehicle. Here, in exchange for a premium payment, the insurance organization agrees to pay for losses or damages outlined in the policy. 

This insurance covers damage to the insured’s vehicle, liability for bodily injury or property damage caused to others, medical expenses, and uninsured or underinsured motorist coverage. The particular coverage and limits of the policy can vary depending on the insurance provider and the needs of the individual. 

What are the points to consider while choosing car insurance? 

  • Type of Coverage

There are three main types of such insurance: liability, collision, and comprehensive. The first covers damages you cause to other people’s property and bodily injuries, while collision covers damages to your vehicle in an accident. Lastly, the comprehensive coverage includes damages from other incidents, such as theft, natural disasters etc. 

(Note: Set a reminder date for car insurance renewal online.)

  • Deductible

The deductible is the amount you pay out of your pocket before your insurance coverage kicks in. Higher deductibles lower premiums, but on the other side, it also means that you’ll have to pay more in case of an accident. 

  • Premium

It is the amount that you, as a potential buyer, pay for your online car insurance coverage. So, ensure that you compare premiums from different insurance providers to get the best deal that suits your budget. 

  • Customer Service

Good customer service is a very important point to be considered, as it is essential when dealing with insurance claims. Keep in mind to check online reviews as well as ratings for the company you are considering. 

  • Additional Benefits

Some insurance policies offer certain additional benefits, such as rental car coverage or roadside assistance. So therefore, consider whether these additional benefits are worth the extra cost. 

How to buy car insurance online?

As mentioned above, availing this facility is as easy as ordering food from your smartphone. Download the right application, sign up, and you are good to go.

  1. Download the Bajaj Finserv application on your mobile
  2. Sign up after entering the required details
  3. On the homepage, you’ll see the Insurance Bazaar section
  4. Tap on Car
  5. Enter your vehicle registration number and city pin code
  6. Tap on View Prices
  7. Choose the best that suits your requirement

I came across this application when I was searching for “how to pay car insurance online” on the internet. There were many applications like ICICI, HDFC etc, but I found this one to be the best.