Top Mistakes to Avoid When You Buy Car Insurance in India
Car Insurance
Owning a car in India comes with the crucial task of buying insurance. It is not just a legal requirement but it also protects you from financial troubles caused by accidents, theft, or damage. However many car owners make simple mistakes when getting their insurance policy. These errors could lead to higher costs or inadequate protection over time.
Thanks to the rise of online car insurance, checking and tailoring policies have become simpler than ever. But this convenience sometimes leads to errors if you don’t pay close attention. Below, we’ll look at some common mistakes people make when they buy car insurance in India.
1. Sticking to Only Third-Party Liability Insurance
Third-party insurance meets the bare legal requirement. It covers damage to someone else’s property or injuries they suffer. It does not cover any damage your own car might have. Many new car owners choose just this plan because it costs less. But comprehensive insurance gives wider protection, since it handles both your damages and third-party issues.
2. Skipping Policy Comparisons Online
A lot of people make the mistake of going with the first policy offered by a dealer or insurance agent. If you get your car insurance online, you can compare things like coverage, costs, extra add-ons, and claim settlement records across different companies. This helps avoid missing better options or features that fit your needs more.
3. Skipping Policy Add-Ons
Add-ons such as zero depreciation cover, engine protection, roadside assistance, and return-to-invoice can make your policy much better. Many people leave them out to save a bit on premiums, but this often backfires. Choosing the right add-on can help you avoid expensive repair bills later. For instance, an engine protection cover proves helpful during monsoons when water damage is a common issue in your area.
4. Giving Wrong Details
Some people might feel tempted to give false information like lower mileage, fake claims history, or incorrect car usage to reduce their premium. This is a big mistake. Insurers will check for inconsistencies, and they can refuse your claim if they spot anything wrong. To prevent problems later, make sure all your details are truthful and correct.
5. Skipping the Check on Claim Settlement Ratios
The claim settlement ratio tells how often an insurer settles claims out of the total claims they get. Skipping this step can leave you upset if your claim doesn’t go through. Picking an insurer with a solid ratio gives you peace of mind that your claims will be dealt with fairly and without unnecessary delays.
6. Neglecting to Understand Policy Details
A lot of car owners skip going through the policy’s fine print. This might cause issues when filing claims because they may find out that some damages are not included or they need to cover deductibles. Take time to go over the terms, inclusions, and exclusions before choosing your insurance policy.
7. Forgetting to Renew Insurance
Failing to renew car insurance on time can leave your vehicle without coverage and put you at risk of fines. If the policy stays expired for too long, insurers might require a vehicle inspection before offering coverage again. To avoid this, think about setting reminders or using auto-renewal features available on online platforms.
Final Thoughts
Being cautious and avoiding these mistakes will help you get the best coverage and benefits from your car insurance. Spending a few extra minutes to check options, understand terms, and pick the right plan can save you both money and hassle later.
To find reliable insurance, explore Chola MS Motor Insurance. They have easy online tools, solid coverage plans, and services that focus on customer needs. This can help make your insurance process much simpler.
FAQs
Should I get car insurance online or offline?
Buying online car insurance works better in most cases. You can compare policies with ease, get coverage faster, and even save money since online options cut down on extra administrative charges.
Can I change my insurer when renewing my policy?
Yes, you are allowed to switch insurers during your policy renewal. If you find a plan with better benefits or lower costs, you can go for it. Your No Claim Bonus (NCB) will still carry over to the new insurer.
What happens if I skip add-ons in my car insurance?
Without add-ons basic risks will be covered by your plan. You might need to cover a lot of repair costs from your own pocket. Add-ons can offer extra security based on what you need.
Can I renew my car insurance if it has expired online?
Yes, many insurance companies let you renew policies online even after they expire. However, if the policy has been inactive for a long time, they might ask to inspect your vehicle.
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