If you are hunting for one of the best deal for your car insurance, don’t get carried away by mere Premium
figures. Each insurance company is offering number of car insurance plans which are different from one another in terms of both features and tariffs. You have to be careful while purchasing a car Policy
as there are many parameters to be considered before deciding on the right policy. Discussed below are few things that you may need to understand before you buy a car insurance policy.Your Coverage needs
As we have pointed earlier, not all policies are the same. What may be covered by one policy may not be covered by the other. Insurance companies offer both plain vanilla product and a more customized one - which includes a host of additional benefits. The first step that goes into selecting a policy is defining the risks that you would like to get covered.
We are aware that in case of car accident, it is not only that the car is damaged, but there are other collateral risks, like personal injury to passengers and to the third party with whom the car had an accident. Other risks and liabilities that you may like to be protected against include - theft of car, cost of towing and overnight stay in the event a car meets with an Accident
at a remote location and also the cost of hiring a car to maintain your routine for the period till your car is repaired.
You have to make up your mind if you would want a few or all of these potential risks and costs associated with a car accident to be covered under your policy. Once you freeze the benefits that you desire, it will help you select the right policy that offers the most attractive price tag.What is your liability while you Claim insurance?
In most of the cases, the car insurance company does not bear 100% of the cost of repair. An important thing which representatives of car insurance
companies may try to hide is the ‘excess amount’. The excess amount is a fixed contribution that must be paid by the owner every time the car meets an accident. The excess amount can be increased by the policy owner in order to lower the premium charged on the insurance policy.
No claim benefit available to the policy owner if he does not make a claim may also be different for different policies. So, before comparing policies for their premium, make sure you are aware of these differences.Do an online comparison
After you have identified your coverage needs, understood your liability in terms of excess and the no claim benefits, you may do an online comparison to understand which policy offers you the lowest premium cost. Online comparison websites has made the entire process very transparent, letting you buy the most appropriate insurance policy from the comfort of your home.