How to get cheapest quotes on car insurance

Purchasing car insurance is important. However, its high premium rates are something due to which many people refrain from buying the same. However, the costs faced in policy’s absence can be way higher than the policy cost.

To get cheapest quotes on car insurance, the best place to search is online!

Get best deal by evaluating car insurance quotes online

Going online is perhaps the best way to get cheap car insurance. You can easily evaluate several plans offered by different insurance companies.

Hence, you can spot the best deal right on and stay updated about the best current offerings in the market by doing regular online research.

Knowing the benefits becomes easy online!

When you compare quotes online not only does it enhances the chances of getting the best deal but also lets you review through all the pros & cons of the particular insurance easily. As a result you can get the best possible deal as per your requirements & budget.

Have you ensured whether the company is legitimate or not?

Regular searching mechanisms let you keep a track on the best offerings of the company. Hence, do a regular comparison of policies online. It will help you save lot of money on the yearly premiums.

In this process, however, remember to get your car insurance from a licensed and trusted insurer to avoid unnecessary troubles and lack of co-ordination when you need it the most. Ensure that the company has sufficient funds to give you your compensation even in its rough patch!

Are you sure everything is covered in your policy?

State your expectations clearly to the insurer and ensure what the insurer will truly abide by.

For e.g. Your car consists of expensive high-tech stereo equipments. However, you did not inform this to your insurer. As a result, there’s no room for equipment’s replacement cost covered in the policy.

In this case, if the equipment gets stolen, the insurance company will provide only the equipment’s average cost which can be very less and unacceptable. Hence, ensure that everything is covered to stay secured in the long run.

Further some useful tips for ideas on how to reduce your premium-

Target a deductible amount

Agreeing for a certain deductible amount, let’s you lower your premium on car insurance in case your car gets damaged. The greater the amount of deductible the lower will be the insurance premium. However, decide this amount cautiously such that it does not become self-demeaning in the end.

Safe driving records matter!

Most insurance companies provide good significant discounts for drivers who have accident-free records. Thus, maintain a safe driving record to benefit from huge and regular discounts!

Also last but not the least, always pay your premiums on time and avoid missing the date of renewal to get long-term benefits.

Why the cheapest car insurance may not be the best for your car

Life would be so much simpler if getting cheap car insurance was as easy as watching.

All you had to do was enter the details on the price comparison sites and zero in on the cheapest car insurance company that offers the least premium. However, getting cheap car insurance is not that easy. Unfortunately, things are not that simple.

While saving money in any way that we can is great, it is also important to understand that cheapest car insurance may not be the best for your car.

Our car is one of our most valuable assets. In case your car is involved in an accident and your insurance does not provide sufficient coverage you would need to shell out a lot of money from your own pocket.

Watch Out for the Cheapest Car insurance!

You Get What You Pay For

Cheap car insurance may ensure lower premium but does it provide adequate coverage? When you shop around for the best car insurance, you compare different car insurance quotes. This is obviously the best thing to do. However, while comparing policies ensure that you are comparing like-for-like cover. Some policies may seem cheaper but when you make the claim, you realize that you may have not the same level of cover. Sometimes the cheapest policy may mean far lower coverage than you actually require. Don't we all wish to buy cheapest car insurance?

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# estimated premium amount

Note: This premium quote considers the full NCB (No Claim Bonus) and system generated IDV. It is valid only for policies bought online.

Absence of Add-on Covers

Don’t get the cheapest car insurance if it does not have essential add-on covers. Consider a scenario where your new car, insured with a basic policy, meets with an accident and you are stranded in a lonely stretch of road. At that point, would you not want the benefit of fuel assistance, taxi and accommodation benefits? Cheapest car insurance should contain value-added features such as depreciation cover, coverage of electrical and non-electrical accessories, NCB retention, road side assistance and engine cover may add to your premium amount but in times of need you may be thankful that you opted for these covers. Cheap car insurance with basic coverage will not provide such useful add-on covers.

The Downside of High Deductible

Cheap car insurance also refers to enhancing your deductibles. Increasing your deductible can reduce your premiums. But should you really set your deductible that high? What would happen when you meet an accident and want to actually use the policy? If the repair costs are extensive then high deductible would mean you would have to pay a significant amount of money from your own pocket. It is always important to understand the pros and cons of high deductible while taking the motor insurance policy.

Check the Claim Process and Customer Service

When referring to cheap car insurance, be careful of poor customer service. Even if you have to pay higher premium, you need to ensure that the car insurance provider provides good customer service. This is helpful when you need to enquire about any doubts about the policy or when you want to file a claim during stressful times. Also while searching for cheap car insurance, ensure that your insurance provider provides 24*7 telephonic service for claims support and other assistance, even on holidays. The claim settlement process should be simple and hassle free. Before choosing the car insurance, check their claim settlement process and their reviews. You can also talk it over from someone who has a policy with the same company. Car insurance is a serious investment for your car so compare policies properly and don't just fall for the lure of cheap car insurance.

Get Answers to Common General Insurance FAQs

General insurance is something which provides protections to your valuable assets like vehicles and home and also takes care of your health related expenses. It also helps you to travel stress free. It is logical that protecting your assets and covering your expenses becomes crucial given the huge amount of money you involved in the same

This article is about general insurance and its types. Also you will learn some essential factors related to purchasing general insurance.

General Insurance- Meaning

General insurance is something which provides protections to your vehicles, home and covers your health and travel related contingencies. On the contrary, life insurance provides insurance against one’s life. After the demise of the policyholder within the policy period, the dependents receive the sum assured amount. Life Insurance falls under the non-general category.

Further you can see the common types of general insurance available in India:

                                Vehicle insurance

As per the law, it’s necessary for all vehicle owners to get a vehicle or motor insurance. In the absence of the same, the person is deemed as driving illegally and is therefore restrained from driving.

It’s like a long-term insurance covering the various damage costs which might occur due to unforeseen events or accidents. It’s something which helps sustain your vehicle’s luster without giving a huge blow to your pockets!

In simple terms, it’s a cover which compensates for the damage costs which might happen to your vehicle due to any kind of accidents or unfortunate event.

Health insurance

It covers various health emergencies and related medical costs. Whether the policy covers existing illnesses and what diseases it will cover and how much sum assured value will vary as per the health plan. Hence, read the policy documents carefully before investing. Carefully examine that all your requirements are covered and confirm the same personally with the concerned insurance company personnel.

Home insurance

Get introduced to another common general insurance type which is home. Most of the people rely on these policies which enable them to buy their dream homes. This becomes possible due to easy premium schemes to be paid in installments unlike lump sum amounts. As home is the most important asset of every person, this becomes a must-have product.

 How general insurance secures one against 3rd-party liabilities?

General insurance policies do secure a person against huge third-party liabilities. For example, a person ‘A’ possesses car insurance which is a type of general insurance. A collides with another car. Therefore, the third part member (owner of the other car) claimed compensation which seemed to be a really big amount. However, thanks to A’s comprehensive car insurance which saved him from huge third-party liability. The insurer compensated for the damages with the help of 3^rd-party liability cover.

How safe it is getting general insurance online?

It’s totally safe getting general insurance online provided you buy it from a reputed insurance company. Apart from that, it is the quickest & one of the easiest ways to get the best plan. This is possible due to the ease it provides in comparing various insurers online and selecting the best one.

Best Car Insurance Policy-Meeting All Your Needs!

In order to get the best car insurance one needs to be adept at selecting the right coverage for his car. This can be quite a riddling task. In this article you will get some essential inputs on selecting the best car insurance in India.

Carefully read the documents-

One needs to carefully read and clearly understand the details as written in the insurance documents. It’s because the insurance policies perform as per the very definition as written in the insurance documents. This helps a person to get the best car insurance.

Compare car insurance quotes online-

It’s always advisable for buyer to do a thorough comparison. One must compare quotes online to benefit from the bestcar insurance plan. The online mode lets a person to easily compare thousands of quotes online. One can easily browse through quotes online and choose from the insurance company which gives maximum coverage at lowest premium. In this way you will be able to get the best car insurance in India from an insurance provider who is offering the best deal.

Getting a greater IDV is always better-

This is another important to keep in mind. There are several insurance companies in India which offer lower IDV and higher IDV rates. IDV is “insurance declared value”.

There are people who get a lower IDV just to save money on premium. However, they don’t realize one important factor. Experts state that it’s always ideal to get a policy which gives maximum IDV for the vehicle. This ensures complete financial coverage during any unprecedented event which can damage your car and the people involved including third party. This may require one to pay just a little extra premium. However, the benefits which it covers are worth the extra amount. Hence, purchase a policy which offers maximum IDV on your car for complete protection against all odds.

Prevent skipping or delaying premiums-

Some people tend to skip of delay premiums whether intentionally or unintentionally. This habit of skipping or delaying premiums can land the insured in trouble. When this cycle becomes a frequent one, the insured may also forget to pay the premium. As a result, his/her policy will lapse. This refrains the person who is the insured to be able to receive further benefits as offered by his/her insurance company. Hence, one must avoid skipping and delaying premiums which can further lead to forgetting of payment of premium. This will lead to the policy to lapse.

There are companies which after the lapse of policy, grant the insured weekly grace period. However, post this period, one will be at the risk of driving his car with no insurance and therefore is no longer eligible to get benefits like lower premiums & discounts on car insurance.

The above points will help you to select the bestcar insurance in India form a legitimate company.

Why there’s a need for general insurance

Who does not want to live risk-free? Getting a general insurance from a credible general insurance is one sensible step ahead to live a risk-free life. How? Life is full of risks. When you’re driving your car, there’s a risk of accident. This is even considering if one is driving with utmost safety as another person can bump into your car. For this reason car insurance is a necessity which is a part of general insurance companies’ offerings.

When you’re travelling there’s lot of risks like theft or loss of luggage, emergency treatment if your fall ill which can be really high in a foreign country. Also there can be health risks associated which may occur in future, which can be prevented by health insurance and life insurance policies.

Hence, there are risk factors linked with almost everything. Therefore, it’s important to insure all our valuable property. Getting a general insurance from general insurance companies in India helps you to secure all your valuables thus enabling to live life without any worries.

In this article I will talk about the need to get general insurance and its importance.

General insurance-Explained

Insuring anything other than human life is called general insurance. General insurance comprises insurance of property against fire or burglary, personal insurance such as accident and health insurance, and liability insurance that covers legal liabilities. There are also other covers such as errors and omissions insurance for professionals, credit insurance, and so on.

One of the main reasons why one should go for insurance is to protect one’s belongings and assets against financial loss. When one has earned and accumulated property, protecting it is prudent. The law also requires us to be insured against some liabilities. That is, in case we cause losses to another person, that person is entitled to compensation. To ensure that we can afford to pay that compensation, the law requires us to buy liability insurance, so that the responsibility of paying the compensation is transferred to an insurance company.

What’s the need for general insurance?

People own so many valuable possessions like house, business assets and vehicle. All these are vulnerable to different hazards. Also, emergency medical expenses can put one under serious financial stress. Even an otherwise mundane act like traveling too involves risks, such as accident, loss of baggage and passport, and medical expenses.

So, have you given any thought to securing the family's health, or insuring your vehicle or home against any future uncertainty? If not, then it is time to focus on it now.

Who must get general insurance?

Anyone who owns an asset can buy insurance to protect against losses due to fire or theft, and so on. Each one of us can insure our and our dependents’ health and well-being through hospitalization and personal accident policies. To buy a policy, the person should be the one who will bear financial losses if the said events occur. This is called insurable interest.

The amount you insure for is called the sum assured. Normally, a policy should cover the value of the asset — either the market value while insuring, or the cost of replacing the asset should it be lost or destroyed. The premium will depend on the sum assured. You can avail of a range of products to suit your insurance needs.

Why Choose Comprehensive Health Insurance?

Comprehensive Health Insurance is like a boon which keeps you and your family secured from several unprecedented events. Let’s look at various reasons why you should choose comprehensive health insurance?

Comprehensive health insurance- an essential cover for an individual as well as group

The individual has an option to be secured from several health hazards. And when the person is married the number of dependents increase. Hence, it becomes necessary for the person to ensure protection of his/her dependents as well. During such cases, the most viable option available is comprehensive health insurance.

The Family floater option of this coverage, covers the insured as well as his/her dependents against various health hazards.

Flexibility of options

One can select from an array of premiums & plans as per your convenience. For instance, choose a premium plan offering from Two Lakhs to Ten Lakhs as per your convenience.

No age barriers

One receives a policy with life-time renewal plans when you purchase one from a legitimate insurer. Also there are no age barriers to sign up for the policy. One can select from limited period plans for 1-2 year period.

Coverage of one’s pre-existing diseases

You get facility which covers pre-existing diseases based on the plan you opt for. Apart from that, one can receive concession of 10% on the particular 2-year policy.

Receive important extra benefits

Who does not like extra? With a comprehensive health insurance, you receive additional benefits like add-on covers which cover critical hospitalization costs along with free accommodation in the empanelled group of hospitals covered by the insurer. Also avail cashless claim facilities and treatment from reputable network of hospitals.

Save Tax

Tax saving forms an essential part of one’s life. And this policy helps to save tax as well.

The benefits are two-fold-

1)   You save tax as per Income tax rules.

2)   You’re liable to get further benefits from this plan.

Further are the kinds of income tax benefits one can receive under this policy-

·        Get yearly tax rebate at year end under Section 80C, Sec 80D and Sec 80E

·        Under Section 80D, you can avail premium amount rebate of maximum Rs. 15,000 yearly. For a person of 60 years and above, maximum limit is Rs. 20,000/ year.

·        If you’re paying your parents' medical insurance then you can also claim additional rebate of Rs.15, 000/ year as per section 80D.

·        If your parents are senior citizens, you get rebate of Rs 20,000.

P.S. -Your brothers, sisters and in-laws cannot benefit from the above rebates.

Inference-

·        Comprehensive health insurance helps people to save tax

·        It helps one to avoid higher treatment costs when faced by certain illnesses

Purchase of health insurance policies are generally overlooked even after marriage. However, one important thing to consider here is that it’s always better if a person buys comprehensive health insurance plan at an early age.

In this way you and your family will be guarded against higher financial costs of medical treatments if any.