insurance for your car is not a very technical stuff. Just go through the
article and you would never face any problem in judging car insurance plans.
For starters, your car insurance policy is a financial agreement between you
and your insurance company in which the latter agrees to pay financial losses
suffered by you in case of theft or Accident of your car.
Overview of car insurance
As a car accident can cause loss to third
parties as well, in order to pay for the liability towards third parties Motor
Vehicles Act 1988 mandates every car owner to get it insured. A car insurance
policy can be broadly categorized into two types.
Third party insurance only policy
Comprehensive car insurance policy
Act mandates you to have at least Third party insurance only policy. However,
you should buy comprehensive car insurance Policy as it covers your financial
losses too. A car is generally a very pricey asset and cause huge financial
loss in case of theft or serious accident. Thus, don’t just think of avoiding
the fine by settling for a Third party insurance only policy, think about the
bills you end up paying out of pocket to the repair garage in case of accidents
or even worse , the loss if your car gets stolen.
How to buy plan?
we come to the important question i.e. how to buy a car insurance plan.
are two modes of buying a car insurance plan, offline mode and online plan. You can use either of the modes.
Offline plans are more traditional and involve approaching a car insurance
agent through which you can buy such plans. Such agents can be professional
agencies or employees of a particular general insurance company. These agents
can also provide personal guidance and suggestions regarding your plan
purchase. Many people feel comfortable buying through an agent as they can
approach him at times of claims and held him accountable for any grievance. In
case of offline purchases people
have a recognized person to approach. This mode is favorable for people who are
not tech savvy and lack commercial knowledge.
the more educated and urbane masses the online
mode is gaining popularity. In this fast paced modern life everybody is
hard pressed for time and visiting an agent or giving appointment to an agent
for a meeting is a thing not many are willing to do. The internet is the source
of unlimited knowledge and many people like to learn and educate themselves
about their insurance needs on their screens. It saves time and at their own
comfort they can review, compare, fill forms and make payments for their car
insurance policy. Online transactions are very secure and the growing
popularity of e-commerce websites is evidence to it.
on your comfort level with web technology and evaluation of the pros and cons
of both you can decide your mode.