A 5-step Guide to Buying Car Insurance Policy

Getting a car insured can be seen as an owner's legal duty. Buying it can require you to make multiple selections and pass through certain processes. This is a 5-step guide that aims to introduce the ideal way of selecting the best car insurance policy in India. As a part of this guide, we have explained the importance of knowing the types of car policies, knowledge of IDV, and add-ons. Keeping in mind the right coverage needed for your vehicle's insurance will also be helpful.

1. Find the Type of Policy Needed

Car insurance policies can be of different types. When you connect with an insurance company specializing in such policies, you will be able to know the types. Based on the policy type, the coverage will be small or big. There may also be different rules in the case of death, accident, or damage to the car.

2. Choose an IDV for Your Vehicle

IDV related to the Insured Declared Value. When a car insurance policy is purchased, the sum that will be assured will depend on this value. So to say, in an instance wherein your car is damaged or stolen, the IDV is what you will be getting as the assured sum. Based on your requirement, this value needs to be decided.

3. Learn the Coverage for Policy

The provider of the best car insurance policy in India, Hello Policy says that coverage for this vehicle can be understood as the compensation you will be receiving. To find the best coverage, you need to list what all is required or not required. By discussing the same with your chosen insurance company, you will be able to receive the best coverage for your car.

4. Decide whether You Need Add-ons

Opting for add-ons can strengthen your car insurance policy. However, they are optional. While choosing them may be a wise idea, you will be required to pay an additional value. This will increase the sum of the premium. As an advantage of this feature, your car insurance policy can prove to be highly cost-effective.

5. Look for Cashless Garage Service in the Policy

Certain car insurance companies provide cashless garage service to their policyholders. Due to their garage network, they are able to render garage services, at no cost, when an emergency occurs. The inclusion of such a feature can ensure that you have selected the best car insurance policy in India.

Closure

For a vehicle as expensive as your car, selecting the best insurance plan is thoughtful. For selecting it, the initial step is to pick the right type of plan. Following this, setting the right Insured Declared Value for the vehicle is necessary. Next to it, the car owner should understand the sum of coverage that will be fit in case of any accidents. By selecting add-ons, as well as cashless garage services, several advantageous features can make the car insurance more valuable when such unlikely events arise.