For those of you who own cars, you know exactly the kind of bonding car owners share with their vehicle. Right from early morning washing to regular maintenance trips, you do it all to make sure that your car stays as new as always. Apart from the regular upkeep of your vehicle that you undertake, you also make sure you drive it carefully on the roads. In this regard, have you ever thought of buying car insurance? Well, in case you haven’t, we suggest that you buy one today itself for the inherent benefits that a car insurance policy offers its customer.
In this article, we will let you know about what exactly is a car insurance along with the steps to buy one, that too online.
What Is Car Insurance?
The purpose of a car insurance is to shield your vehicle from any unforeseen hazard. Financial losses incurred in lieu of your car can be covered using the policy. Car insurance policies vary in terms of cover value and the amount of premium on a range of factors such as the value of the vehicle and the kind of cover you are looking for among others.
Steps to Buy Car Insurance Online
Buying car insurance can be quite cumbersome owing to several trips to an insurance agent. However, the procedure is quite simple when done online.
Here are the steps to buy car insurance online.
1. Keep all your documents handy
Buying insurance offline involves a lot of documentation. However, this is not the case when you do the same online. While buying an insurance policy, make sure you have all the documents up to date.
Some of the most relevant details include:
- License details
- Vehicle details including vehicle model and year of purchase and make
- Registration Card of your vehicle
- Miles covered on an average in a year
- Driving violations in the past
You also need to share personal documents such as your driving license, your Aadhaar Card and any specific document that the insurer demands.
2. Compare insurance policies
The benefit of buying car insurance online is that you get to compare a variety of policies on a single screen on an ample number of grounds instead of wandering nook and corner to find the right policy. Coverfox.com provides some great and affordable car insurance policies to easily insure your much-cherished machine.
Enter details as required so the best policies are displayed. Apart from this basic information, you can also find out about the incurred claim ratio of each insurer. It is the percentage of claims that the insurer has settled in the past. The incurred claim ratio helps you find out which insurer guarantees a higher rate of settlement in competition to its peers. Prefer the insurer that has a good incurred claim ratio.
3. Amount of Cover
Choose the amount of cover that you are looking for. The cover amount depends on a variety of factors such as the vehicle model, its year of make, the number of kilometres it has been driven, and any previous accidental claims.
In the light of the same, don’t forget to calculate the monthly premium you would have to pay for the same. While it is unsafe to be underinsured, it is also unwise to pay hefty premiums that would burn a hole in your pocket.
4. Study User Reviews
Buying car insurance policy online means that you get to read reviews of those who have already bought a certain policy. These reviews can let you know if the past experiences of users were up to the mark and satisfying and whether the insurer was able to settle the claims without any hassle or not.
5. Select Suitable Add-ons
An insurance policy offers a lot of add-ons, most of which come at a price. It is not necessary to select all the additional services. Use the ones that you really need.
For instance, if you usually ferry passengers in the back seat while travelling, you can choose the add-on relating to passenger cover. However, the same can be skipped if you are a solo traveller.
6. Finalize Your Purchase
You can pay for the policy using net banking, credit cards, or debit cards. These methods are usually encrypted by the website so as to protect your bank details. Once you are through with your choices, finalize the payment details. The policy is instantly emailed to your inbox right after you have made the payment. Take a print of your policy and keep it safe with you.
Tips To Choose Best Car Insurance Online
The best car insurance online comes labelled with ease and expediency. Given the number of insurance companies doing the rounds, it is significant to not fall for flashy names and services.
Here are some tips that can help you pick the best car insurance online.
1. Buy from a reputed source
Buying from a well-recognized insurer practically means that the company has a good network of presence all over the country. This means that your insurer is well within your reach and that you can seek help easily whenever required.
In addition, buying a car insurance online involves entering a lot of personal details. A reputed company indicates that your information stays safe and is not misused.
2. Do not conceal information
Often, in order to get a better deal, we hide significant information which might be relevant for the policy. This might fetch you a good deal initially but might trouble you when you settle a claim. For instance, when asked about previous driving violations and accidents, be truthful about the same for insurance companies are quick to verify facts.
3. Trouble-free Claim procedure
Know your insurer well! Find out from peers if a particular policy is worth a purchase. An insurance policy that forces you to make multiple rounds of the insurance office at the time of claim settlement is not at all worth the hustle. Choose an insurer online that is expedient in its approach and offers complete customer satisfaction.
4. Additional benefits
Look for insurers that sell inexpensive add-ons. Additional covers are always beneficial to the insured. These days, a lot of insurers have started providing reasonable add-ons to maximize their customer base.
Advantages such as road assistance, zero depreciation policy, and others can be of great help. Coverfox.com provides several amazing supplementary benefits to its customers with respect to car insurance policies.
5. Cashless Facility
Certain insurance companies have a chain of network garages all over the country where you can take your vehicle in case of a breakdown or any other difficulty. These garages get compensated from the insurer directly, meaning you do not have to shell out cash in case of an emergency. Let the insurer do it for you!
Claim Procedure for Car Insurance Online
In this section, we tell you the precise process to claim your car insurance in the smoothest manner possible.
1. Contact the Insurer
Log in and find the contact details of your insurance provider. The sooner, the better. Insurance companies follow a strict limit within which the insured is supposed to get in touch with them. Usually, the limit is defined in the insurance policy itself and varies from insurer to insurer.
2. Inform the Police
Both, online as well as offline insurance claim settlement requires that you inform the cops and file an FIR. No claim is settled without the same.
3. Value of Damage
Book an appointment with the insurer so as to inspect the loss of your vehicle. You could easily do it online, as per your convenience. Inform your insurer about all the losses incurred in detail so that the correct value of the compensation can be established.
Wait till your claim is processed. The insurance provider would compensate you for all the damage that was covered under your insurance policy and none else. The amount is usually transferred to your account.
So, this was all about buying a car insurance online. Be prudent and look for a policy that gives you better services. After all, it is all about your treasured vehicle.