If you have a car or are planning on getting one, you need to understand the positive impact a good insurance policy can have. A comprehensive car insurance plan is designed to protect you from a wide range of liabilities that you may have to deal with in the case of an accident involving your vehicle. Before you go ahead and purchase an insurance plan, here are a few tips that you can follow to ensure that you get one that’s right for you.
- Be aware of the different types of car insurance plans
In India, there are two kinds of car insurance plans that you can opt for – a third-party liability plan and a comprehensive plan. A third-party plan only covers damages to third parties as a result of an accident involving your car. A comprehensive plan, on the other hand, covers both third-party liabilities as well as expenses that you incur for getting your damaged vehicle repaired.
If you’re keen on giving your car maximum protection, opting for a comprehensive plan is the way to go. All insurance providers in the country, including Acko car insurance, offer both these types of plans for a wide range of vehicles.
- Compare the benefits of multiple car insurance plans
Not all car insurance plans offer the same benefits. Some may offer fewer benefits, whereas others may offer a whole lot more. Therefore, it is important to compare multiple plans with one another. This way, you can quickly and easily determine the one that offers the most benefits.
- Compare the premium quotes of different plans
Similar to how the benefits vary from one car insurance plan to another, the premium that you’re required to pay towards a plan may also change. It is important to ensure that you get a car insurance plan that’s affordable, like the ones from Acko car insurance. The best way to ascertain whether a plan has affordable premiums or not is to compare it with car insurance policies from different service providers.
- Pay attention to the deductible portion of the plan
The voluntary deductible is the amount that you’re required to pay out of your pocket before the insurance benefits kick in. The higher the voluntary deductible portion you choose, the lower the premiums are likely to be.
However, opting for a higher deductible would mean that you would have to pay more repair costs out of your pocket. Therefore, when purchasing a car insurance plan, make sure to choose a deductible that you can afford, while simultaneously ensuring that the premiums remain low.
- Register with an automobile association
Many car insurance service providers like Acko car insurance offer discounts on premiums if you’re registered with an automobile association. That said, keep in mind that to avail this benefit, the association must be approved by the government and must possess the necessary registrations to back it up.
- Select the right IDV
Also known as the Insured Declared Value, the IDV is the amount that you receive from the car insurer in the case of theft or total loss scenarios. One of the notable things about IDV is that you have the freedom to select the value at the time of purchase.
Selecting a higher IDV will ensure that you get better compensation, but will also drive your car insurance premium up. On the contrary, choosing a lower IDV can lower your premium, but can lead to reduced compensation. So, when purchasing a car insurance plan, make sure to choose the right IDV for your vehicle’s age.
- Choose the right riders
Riders are optional covers that you can opt for that are designed to enhance the coverage of your insurance plan for a nominal additional premium. The more riders you choose, the higher your car insurance premiums will be. Therefore, always exercise caution when choosing the riders and opt only for the ones that you need.
- Check the service provider’s track record and credentials
A car insurance plan is only as good as the service provider. And so, before you finalise a policy, remember to take a closer look at the service provider’s credentials. Insurance providers should possess a long-standing track record, a healthy claim settlement ratio and great customer support like Acko car insurance customer care.
- Go through the insurance claim process
It is important for a car insurance policy to have a smooth and easy claim process. Many insurance providers now allow you to file claims online, which is simpler and takes only a few minutes to complete. So make sure you pay attention to the claim process when purchasing a policy.
- Take a look at the insurance renewal process
Renewing your policy on time is crucial. It ensures that you continue receiving car insurance benefits without any stoppage or disruptions. A good insurance policy must have an easy and simple renewal process that can be completed online within just a few minutes.
So, there you have it. 10 tips that you can follow to make sure that you get a car insurance policy that’s perfect for your needs. If you’re looking for a comprehensive insurance policy for your car that’s also very affordable, consider purchasing from Acko car insurance. Acko is one of India’s premier insurance providers. Their policies are not only cost-effective but are also very customisable. That’s not all. Acko car insurance customer care is also very proactive and can make your policy ownership a whole lot smoother.