A car is one of your most important assets. Buying a car insurance policy is one of the best ways to protect this asset. The main aim of a car insurance policy is to cover all types of financial losses that may occur from operating a car. Purchasing the right car insurance policy will go a long way in protecting you financially in case of an accident.
Here are some of the main reasons why you should buy car insurance-
- Firstly, car insurance is a legal requirement in India. The law makes it mandatory for every car owner to buy a car insurance policy. Driving a car without car insurance puts you on the wrong side of law.
- Car insurance policy safeguards your financial interests. In case of an accident, the repair costs can be very high. If you are at fault, you may have to pay for the damages caused to the third party.
- Many of the car insurance policies also provide non-accident protection. If your car is stolen or vandalized, you can claim compensation.
- Car insurance policy provides complete peace of mind to the car owners.
Although, most people realize the benefits of buying a car insurance policy, they often find it hard to choose the right policy. With so many choices available, selecting the right 4 wheeler insurance can prove to be quite difficult.
If you are planning to buy car insurance, here are three important things that you need to know-
1.Types of Car Insurance
Car insurance can be broadly classified into two categories- third party insurance and comprehensive insurance. Third party insurance policy covers only the damages caused to the third party. A comprehensive car insurance policy, on the other hand, not just covers the third party damages but also the damages caused to your own vehicle.
2.Zero Depreciation Cover
Your car is a depreciating asset. Opting for a zero depreciation cover means that the company while settling a claim won’t deduct the depreciation value.
3.Exclusions
The damages caused to your car due to mechanical breakdown, destruction or confiscation by government authorities, and intentional damages are not covered by car insurance policies. Before, buying a car insurance policy, it is important to check the list of exclusions.
When it comes to buying a car insurance policy, there is no shortage of options. Buying car insurance online is one of the easiest ways to purchase a car insurance policy. For four wheeler insurance renewal too, you can visit the website of your car insurance provider. The entire process of buying and renewing 4 wheeler insurance online is fast and simple. It can help you save a significant amount of time. There are many reliable car insurance companies that offer all types of car insurance policies online. However, it is important undertake extensive research before choosing a car insurance policy online.
If you are planning to buy car insurance, here are three important things that you need to know-
1.Types of Car Insurance
Car insurance can be broadly classified into two categories- third party insurance and comprehensive insurance. Third party insurance policy covers only the damages caused to the third party. A comprehensive car insurance policy, on the other hand, not just covers the third party damages but also the damages caused to your own vehicle.
2.Zero Depreciation Cover
Your car is a depreciating asset. Opting for a zero depreciation cover means that the company while settling a claim won’t deduct the depreciation value.
3.Exclusions
The damages caused to your car due to mechanical breakdown, destruction or confiscation by government authorities, and intentional damages are not covered by car insurance policies. Before, buying a car insurance policy, it is important to check the list of exclusions.
When it comes to buying a car insurance policy, there is no shortage of options. Buying car insurance online is one of the easiest ways to purchase a car insurance policy. For four wheeler insurance renewal too, you can visit the website of your car insurance provider. The entire process of buying and renewing 4 wheeler insurance online is fast and simple. It can help you save a significant amount of time. There are many reliable car insurance companies that offer all types of car insurance policies online. However, it is important undertake extensive research before choosing a car insurance policy online.
