Buying a Car Insurance for the First Time? Must Read This!

Sep 25, 2019 2 min read
Buying a Car Insurance for the First Time? Must Read This!

If you just bought your first car, you might want to rush into buying your insurance right away. But before that, read these tips to help you make a better decision.

Buying the right car insurance can be tricky. And if you are doing it for the first time, then you might need some advise on how to save money and get the maximum out of the policy that you choose.

Here are a few tips that can help you in taking the most profitable deal on the insurance market.

1. Go Cashless.
You should choose a policy that allows you to go cashless and enables you to avail benefits without paying out of your pocket. This will help you greatly when you are filing claims, submitting your car for repairs, or dealing with accidental damages. You would not need to worry about carrying cash all the time for on-road emergencies.

2. Focus on Customizations.
You can customize your car with accessories and features. This means that your insurance policy should be able to cover these add-ons too. Also, you can make many additions to your car insurance cover to provide roadside assistance and stolen items. You can read about all the add-ons here.

3. Choose Speed.
Look for a policy that pays up quickly. It can be frustrating to wait for months to receive a reimbursement of your claim. This is where cashless facility gains more points.

4. Buy Policy Online.
Internet can give you much better options than your dealer. You would be easily able to compare deals, get reviews, and land an insurance that is much cheaper and well-customised to your needs.

5. Know the Technical Jargons.
Before you step ahead, know all the terms associated with car insurance, along with their meanings. These include IDV (Insured Declared Value), NCB (No Claim Bonus), Own Damage Premium, and many more.

6. Understand the What & How.
Do not just go ahead signing the document and paying up. Make sure that you understand your policy well. You should be well-versed in what your insurance covers, when you can use it, and how you file the claim. Staying alert before taking a policy helps in avoiding surprises in the future.

7. Your Credit Score Matters.
Surprisingly, your credit score can help in bringing down the premium of your car insurance. A good credit score reflects well on your reliability, and the insurance company sees you as a less risky customer.

8. Pay attention to Service Stations.
It would be a wise decision to look around your neighbourhood for service stations and garages before you pick a policy. You would want to find a company that offers services near your place to avoid future hassles.

9. Ensure there is a 24x7 Helpline.
Road mishaps and car theft can happen at any time around the clock. Therefore, make sure that your insurance company has a 24/7 customer service to help you in all situations.

Having some knowledge about car insurance policies can save you a lot of money and financial stress. It is better to do your homework before buying a cover for your car.

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