Have you been thinking of buying car insurance online but have little idea on how to go about it? Even as you look for the best motor insurance to protect your existing or new vehicle from unpredictable mishaps, it is important to understand the nuances of the game.
What is Car Insurance?
The motor insurance coverage provided is in the form of a contract between you [the owner of the vehicle] and the insurance company. The car insurance policy selected by you will help in the minimization of costs in case your car meets with an accident. These costs will relate to all third-party damages, damages incurred to yourself and your vehicle, other damages, etc., in line with the type of plan chosen by you. These coverage benefits are provided to you in return for the car premium paid against your policy.
Types of Car Insurance Plans Available Online
You can opt for the following types of insurance for your car:
- Comprehensive Car Insurance – You may think of a comprehensive car insurance in terms of an all-inclusive cover that will protect you from the damages incurred due to your fault and even those that are out of your control. Comprehensive car insurance plans cover events such as theft, glass/windshield damage, vandalism, fire, weather/acts of nature, accidents with animals, etc. Though, it is not mandatory.
- Third Party Liability Insurance – Liability insurance offers protection against the claims made by another [or third] party. It covers the damages that have been inflicted on a third-party person, people or property because you [the insured] were at fault. Third party liability is mandatory for your vehicle.
How to Purchase Car Insurance Online?
- Fill in the details of your car to get quotes or the insurance plan that is best for you. The details needed for this purpose include the make and model of the car, year of purchase, place of registration, etc. Other specific car details in line with the requirements of the car insurance plan you choose to go with might also be asked.
- Once you have shortlisted the best plans to protect your car, it is essential to compare their features, sum assured, term coverage, add-ons, IDVs, etc., to select the most lucrative ones only. The car insurance premium calculator available online will help you assess the ensuing costs better.
- As there is no requirement for any third-party inspection when you opt to buy a car insurance coverage online, you may go about the process straight away. It is possible to choose your most preferred mode of payment – net banking, debit or credit card, etc., and pay through quick, secure channels. It’s that easy!
Choosing a car insurance policy online will help you spend less than what you would have to pay otherwise. The reason being that online channels save on paperwork, the commission provided to intermediaries, etc. They are happy to pass on these savings to you in the form of discounts and offers. Grab them at the earliest!