Categorized | Car Insurance

how to buy affordable vehicle insurance?

Vehicle insurance in India is a necessity for anyone driving or owning a vehicle. However, growing competition and a host of products has made it extremely difficult for individuals to find out the most suited and affordable insurance for their vehicles. Different companies are sprouting up with their best plans to serve customers.

In such a scenario, it becomes difficult to find out where you can get cheap vehicle insurance that facilitates maximum benefits. There are some points that should be taken into consideration before you buy vehicle insurance in India seeking an affordable deal.
  • Research: Study well about several products and services offered by different companies. It can be very hectic to walk into every company’s office. So it would be rather better to look for online material. You can browse as much information as you want from different sources on the internet. This will help you know the options available to you.
  • Compare: Before you buy vehicle insurance, it is advised to compare different options. The comparison should be done on the basis of features and price. You can shortlist a few which provides cheap vehicle insurance deals with maximum benefits. Easypolicy.com is a one stop destination that can provide you detailed information about different plans and can help you in comparison on the basis of various factors. It is a safe, secure and reliable platform to get a quick quote.
  • Charges: Often your insurance Premium is a consolidated amount that includes various charges like fees and taxes. Keep a watch on this to know the actual amount that is considered as your vehicle insurance premium. Look for the options that have minimum charges and maximum amount go as a part of the insurance.
  • Discounts: There are various discounts available like no Claim Bonus which can help you lower your insurance premium. Such concessions are due to the safety accessories or your good driving track record. Know them to get the benefits of discounted premium.
  • Safety First: Make sure your vehicle has ample safety features like seat belt, flashlights, fire extinguisher etc. This can help you get a rebate in insurance premium. Many brands of vehicles offer it. However, you can also get them installed in your vehicle after making a purchase.
  • Drive safe: Young drivers who have a clean driving record are viable to get a discount on the coverage. This is to promote safe driving. If your age is between 25 to 30 years and you have no accidents and traffic violation records, you can get a rebate in your insurance premium. Driving too much also increases the amount of insurance premium. Make sure you are not driving very long distances so as to reduce the Risk of accidents.
  • Additional benefits: There are various additional benefits available on vehicle insurance to certain people. For example, for every member of Auto Association of India, there is a discount of 5% available. If you have subscribed to cashless benefits know the service providers which have a tie-up in providing such facilities.
  • Transparency: There should be a transparency between you and your service provider. All the terms and conditions, costs and charges should be known to both the parties.
  • Settlement Period: Many companies take a lot of time in making settlements for vehicle insurance claims. Also, there are a lot of formalities required at the time of making the claim. Before you buy vehicle insurance, make sure the vehicle insurance claims get settled easily and quickly. 
  • Claim value: Always know the value of your vehicle insurance claims. Choose for No claim bonus right. Through this right, your claim gets cancelled in case you claim for a higher amount than you are actually eligible to make vehicle insurance claims.

Along with the above points, it should be noted that you should always buy vehicle insurance from an IRDA licensed broker. Such brokers are eligible to sell insurance of any company. Thus, they have detailed information about most of the plans and hence can help you serve better.