Last Updated on February 12, 2023 by hassan abbas
A lot goes into choosing the right car insurance for your personal use. The buyer needs to carry out extensive market research to pick the insurance plan that perfectly fulfils all their requirements. No matter whether you are opting for personal car insurance or commercial vehicle insurance, you must choose an establish insurance provider for your processes to be smooth and hassle-free. With the internet, you can easily apply for your insurance as well as process insurance claims online. However, you might be confuse about certain queries that are on your mind. No worries! We have got you covered!
Here are the top 10 questions every potential car insurance buyer has in mind. Read to know more!
Which type of insurance should I opt for?
If you have a private vehicle, then all you need is a regular car insurance online policy. For taxis and business vehicles, there is separate insurance call commercial vehicle insurance. Depending upon the type of your vehicle, you can choose the type of insurance policy. Also, there is no greater difference in the premium you pay.
You can also choose between third-party car insurance and comprehensive car insurance. If you are looking for more extensive coverage, then the comprehensive insurance policy is the one for you.
Will the car insurance offer me adequate coverage?
Yes. Although, you need to prudent choose the type of car insurance to get adequate coverage as per your wish. If you opt for third-party car insurance, then only the third-party damage and liabilities will be cover. Any damage to your vehicle won’t come under the car insurance.
However, if you purchase comprehensive car insurance, the damage incurr to both your vehicle and the third-party vehicle involve will be effectively covered by the insurance provider.
What are the general exclusions of a car insurance plan?
Be it personal or commercial vehicle insurance, it is very important to check the exclusions of the plan to understand its benefits in a better manner. By knowing all the exclusions, you can prudently place your car insurance claims. Here are some of the most general exclusions of a car insurance plan.
- The wear and tear of your car is not included
- Manufacturing defects and mechanical and other electrical issues don’t come under your car insurance plan.
- The damage incurred to the insured vehicle is not covered, if the driver is under the influence of alcohol.
- The damage done without the proper documents like a driving licence, etc. is not covered by your car insurance.
How do I understand the confusing car insurance jargon better?
Sometimes the highly technical language used by the insurance people might be quite confusing for the layman. Do not worry about that. There are numerous articles and guides on the web, that would help you understand the jargon of car insurance in a better manner. If you are still confused, you can contact your insurance provider for a better understanding.
Should I go for voluntary deductibles?
Yes. You can definitely go for the voluntary deductible option. Usually, most of your car insurance claims irrespective of personal or commercial vehicle insurance will be cover by your insurance provider. But if you feel the claim is small you can opt for voluntary deductibles. It will help you boost your No Claim Bonus, which gets you higher discounts on your premiums in the long run.
Should I purchase a new car insurance plan every year?
No. You do not have to purchase a new car insurance plan every year. Once you purchase a car insurance plan, you only have to renew it after its tenure. You can also choose the tenure year as per your wish. The majority of the buyer opt for long-term tenure as it is well rewarding and highly beneficial.
What are the popular add-on options available?
Add-ons are a very important accessory to a car insurance policy. Whether you are getting personal or commercial vehicle insurance, considering add-ons is highly advise. Here are some of the popular add-ons.
- Personal accident cover
- Zero depreciation cover
- Roadside assistance cover
- Engine protection cover
- Outstation emergency cover
- Key replacement cover
- Return to invoice cover
How to know whether my car insurance company is reliable?
Doing a background check on your policy provider is very important. Make sure you check their customer base and the network of garages they offer. Also, make sure to read the company review online before you make your decision.
How to lower my car insurance premiums?
Opting for a longer tenure is one way to reduce your car insurance premium. You can also maintain a higher NCB, instal anti-theft devices, etc to reduce your car insurance premium range.
Is Claim settlement Ratio a must-check factor?
Yes. The authenticity of a company lies in their Claim Settlement Ratio. The higher the CSR, the higher the reliability of the car insurance provider. Make sure to choose an insurer, that has more than 90% of CSR.