5 Things To Research Before Buying Car Insurance
Published On Feb 02, 2021
Buying car insurance today is not too different from buying products off a supermarket shelf. Except that there are several rows of shelves today with many different types of products, i.e. car insurance, to choose from. Given this, how does one go about the process of picking the right car insurer and policy? Simple, you research the way you would when buying a new phone or laptop. But while researching for gadgets usually involves comparing specs and reviews, doing the same for car insurance is not as straightforward. Instead, start your car insurance buying process by researching these 5 important things. Basic Car Insurance Details Comparing and choosing a product becomes easier if you know what you’re looking for. For example, when buying a mobile phone, you look at its camera, display, and processor specifications. Similarly, comparing and choosing a car insurance policy becomes easier if you know its basic details and terminology. So, read up on vehicle insurance aspects such as,
- IDV (Insurance Declared Value)
- NCB (No Claim Bonus)
- Own damage insurance, third-party insurance, and comprehensive insurance
- Inclusions and exclusions
- Premium calculation
- Claim settlement ratio
- Add-ons and riders.
- Contacting your insurance provider
- Collecting vehicle and owner information of the other party involved in the accident
- Filing a police complaint
- Filing the car insurance claim
- Taking your vehicle to the garage for either cashless or reimbursed repairs.