How to Find the Best Car Insurance Plans
Buying car insurance proves to be a riddle if you are unaware of the right metrics of going about the process of comparison and purchase of different plans. In case you are on the verge of purchasing new car insurance or are planning to renew your existing ones, you will come across several options that may leave you stupefied.
Do you go for the highest coverage at not so affordable premium, a short or long-term car insurance plan, comprehensive or third-party liability car insurance, or something else?
Regardless of the kind of auto insurance you wish to purchase, it surely pays to compare car insurance plans from several coverage providers before freezing on the one that provides the best deal.
Ways to Compare Car Insurance Plans
The following pointers will help you compare car insurance plans online and take a sound purchase decision.
1. Types of car insurance
In order to meet your coverage needs to the hilt, it is important to compare different car insurance plans wisely.
While the mandatory third-party liability auto insurance plan covers accidental death, damages to third -party property, injuries to third parties, etc.; the comprehensive car insurance plans cover ‘own damages’ and legal liabilities of third parties.
They also provide protection for theft, as well as damages caused by unforeseen events of the likes of cyclones, earthquakes, fire explosions, etc.
2. Comparison for premium determination
The fuel type, make, and cubic capacity are among the important parameters that help in the determination of car premium.
Insurance comparison portals like Coverfox.com are very helpful in guiding policy-buyers towards the right premium that provides the best possible coverage.
For instance, you may want to assess the car insurance premium on the basis of the Insured Declared Value (IDV), place of registration, the tenure of insurance, the scope and extent of coverage, different add-ons, etc.
Once you have determined these various metrics and decided upon the amount of sum assured you wish to get at the premium within your budget, you need to go the next step.
Appropriate comparison of various car insurance plans will help you zero in on the best possible deal.
3. Discount for different security features
When you go about the task of buying car insurance, it is important that you purchase the plan that provides you the maximum possible discounts. The savings that come your way can be utilized for other purposes.
To go about the act, it is essential to understand the terms and conditions of various auto insurance plans pertaining to enhanced security systems, anti-theft alarms, immobilizers, and other things that reduce the probability of loss for car insurance companies.
A careful research of how these security features pave the way for reduced premium will help you pay less when you buy insurance.
4. Voluntary deductibles
It is equally important to compare car insurance plans online on the basis of the voluntary deductibles/excesses that are allowed to reduce your premium amount further.
These deductibles are in the form of petty claims that you agree to pay for simple damages out of your pocket instead of staking compensation claims.
As you may end up saving up to thirty percent in the form of voluntary deductibles, it is better to compare different plans and buy the one that meets your needs to perfection.
5. No claim bonus
Compare the NCB policy of different car insurance plans to get up to 50 percent reduction on fresh premium renewals. This discount will be payable to you only if you refrain from staking a claim in any given policy tenure.
How to Differentiate Between Various Car Insurance Plans?
From the extent of coverage provided to the nature and tenure of cover, the add-ons possible, the cost of securing coverage, No Claim Bonus, maturity benefits, discounts and other inherent features, there are many points of distinction in insurance plans.
Choose the one that matches your coverage needs and premium budget alike.
Buy Car Insurance Plans Online
Buying auto insurance in time from sites like Coverfox.com will help you get the ideal protection you need in the event of an unfortunate accident or mishap.
Simply compare the different plans available online and pay for the one that appeals to you the most – the entire process is easy, hassle-free, and quick!
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Category: Insurance
