An informed consumer is able to get affordable car insurance which offers comprehensive coverage. However, one can get entrapped in the common misconceptions about car insurance. Hence, it’s important to be aware of these misconceptions. This article will make you aware of the common misconceptions about car insurance. You’ll learn about the common car insurance misconceptions which you should avoid.
Red cars demand expensive premiums
• Many people believe that flashier painted colors like red demand expensive car insurance premiums. However, it’s not true. Auto insurance companies don’t consider this factor. They do not assess the colour of your auto while determining your premium.
• What the car insurance companies do consider is the vehicle’s make and model while determining one’s premium. They also consider the vehicle’s body type, the year of purchase and it safety features.
• In simple terms, the more expensive cars such as SUVs & luxury automobiles demand higher premiums. This is so due to the vehicle’s costly parts which it is made of. However, if the vehicle possesses safety features like ABS and airbags & anti-theft device then you can get a discount over your motor insurance.
Age doesn’t matter when deciding the cost of car insurance
• This is false. The truth is that drivers under 25 years of age & seniors above 65 years of age pay greater premium.
• Statistics reveal these age groups lead to more traffic accidents than the drivers aged between 26 years-64 years. Studies show that the segment under the 25-year olds is more involved in traffic accidents than others. As a result they have to pay the highest premiums.
I ‘am not accountable in case a friend damages my car
• The real fact is that in case your car gets damaged then it’s your responsibility. You will be hold accountable even for your friend’s mistake which results in your car’s damage thus raising your premium.
• However, your insurance plan will cover the damage cost regardless of surrounding circumstances of the accident.
My credit score won’t affect my insurance premium
• The truth is that your credit score impacts almost each & every important aspect like getting a job, buying a home & even getting car insurance at low rate.
• One can enhance his/her credit score by timely payment of bills & being financially responsible.
• You can simply go online & run a free credit report. In this way you can review your standing & take necessary actions to enhance your score.
Collision will cover all non-driving damages
There are many drivers who believe that they’ll get covered even for non-driving damages. However, it’s not the case. It’s important to remember that collision only covers the driving-related incidents. However, the collision cover doesn’t cover the non-driving damages like theft & vandalism. Also it will not cover damages happened due to events like fire, storms and from animals. If you would like to be protected against non-driving damages, speak with your insurer about comprehensive coverage.
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Four Wheeler Insurance is important, but it is more important to choose a proper insurance scheme which is cost effective and also covers a lot of added features. Companies have been coming up with newer options for four wheeler insurance which covers more areas than it usually used to. One should rather go for the various types of options coming up day by day in the policy making market for the four wheeler. Innumerable companies are coming up with introductory discounts which can be availed using the vouchers to decrease the premium rates.
Some of the important features which can help gear up young car owners to get good deals of four wheeler insurances are by adding safety gears to the cars like the ABS systems, auto theft alert, inbuilt GPS and other safety related facilities. Another way of availing low and cost effective Four Wheeler Insurance are by buying cheaper cars which incurs low cost estimated insurances hence the overall coverage has a lower rate of the package. Going for higher rates of deductibles help in the lower rates of premium for the cars makes the process more cost efficient for teenage and young drivers. Having a proper license and experience in proper driving without any faulty records against the person’s name also decreases the rate of the insurance. Good driving grades determine how good a driver is and hence the process determines the discount rates on the policies as required.
Another important aspect of getting a policy done under an insurance company to check the authenticity of the company and for how many years it has been providing the services. Although it doesn’t discourage the fact that the newer ones are bad, as there are big conglomerates which basically come into the insurance business. A good insurance company providing a Four Wheeler Insurancecheck on the basic details like the gender of the insurer, location of the vehicle, type of the vehicle, safety measures in the vehicle, driving license of the insurer of the details of the permanent driving license of any driver mentioned in the policy. All these features ensure that the company is a reliable one.
Auto Insurances are taken by many to ensure proper safety of their vehicles and especially the policies are of paramount importance. These policies should always be read and understood properly before getting the policy done.
Purchasing motor insurance is something which raises one’s eyebrows. This is because of the high premium rates of motor insurance policies. In such a situation the only feasible thing which a person can do to get an affordable motor insurance is to get it online!
Compare car insurance quotes online & get the best motor insurance!
If you want to get cheap motor insurance then the best way is to get it online. Online you can get several motor insurance quotes offered by different insurance companies in India. In this way you can compare all the motor insurance offerings of different insurers and select the best possible deal.
Review all the pros and cons easily!
When you compare motor insurance quotes online not only does it enhances the chances of getting cheap insurance but also lets you review through all the pros and cons of the particular insurance easily. As a result you can get the best possible deal as per your requirements and budget.
Ensure the credibility of the company you’re buying motor insurance from
Remember that regular searching & comparing motor insurance policies online will help you save lot of money on the yearly premiums. This is because you’ll stay updated about the company which provides the best deal at lowest premium.
However, always purchase motor insurance from a licensed insurer to avoid unnecessary troubles and lack of co-ordination from the insurer when you need it the most! Also in case the company goes bankrupt if it’s a licensed company then it’s legally responsible to provide you compensation for all your claims. However, if the company is not a licensed one then you’ll lose all your claim amount and premium!
Ensure that everything is covered!
You should be aware of your expectations from the insurance company and do the needful to ensure that the company fulfils it when needed.
Illustration- Consider your car consists of expensive and high-tech stereo equipment. However, you forgot to inform this to your insurer and did not add the replacement cost of the equipment 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 you can learn some useful tips to further reduce your motor insurance premium-
Agreeing for a certain deductible amount-
You can lower your premiums on motor insurance by agreeing for a certain deductible amount when 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.
Maintain a safe driving record-
There are certain insurance companies which provide good discounts for drivers who show accident-free records. Hence, maintain a safe driving record to benefit from lot of 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.
Today’s generation has evolved a lot. You can see newer and advanced lifestyles. At the same time the challenges also have increased. People have to face a lot of things in their everyday life from pollution to traffic jams and large number of people all over.
Today’s youngsters tend to enjoy their lives boldly not to forget their zigzag stunts. Hence, in such a hustle and bustle of life, it’s important to stay secured. And auto insurance policies like car insurance schemes secure a person against huge financial costs. They prevent a person thinking and worrying about everyday worries like will I be able reach office? How to tackle the congested paths? What if my car or bike faces an accident? Will I be able to incur the costs?
A comprehensive solution to all the above worries is getting a proper auto insurance policy as per your needs. Whenever a person is riding a bike or a car or any other vehicle, he/she is always facing a risk of any unprecedented accident. No one can anticipate such events. Therefore, it’s always advisable to stay protected. A comprehensive car insurance policy is the perfect solution for all your worries.
Further you will understand the importance of third party covers in auto insurance policies like car insurance.
Why it’s important to get a comprehensive car insurance policy comprising of Third Party Cover?
It’s mandatory by law to get an auto insurance like car insurance or bike insurance which contains a third-party cover. Third Party Cover is important to provide sufficient financial coverage for all your dependents. During any mishap, the costs of your dependents related to any injury can be claimed from the injured at high costs which can go up to lakhs. However, when you possess a comprehensive health insurance with a third-party cover, all the costs related to self and dependents are covered by the insurance company.
Also remember to renew your insurance policy on time to gain uninterrupted benefits.
Some other benefits are as follows-
No Claim Bonus or NCB facility which gives up to 50% discounts
You have the flexibility to change your insurer during renewal if you find other’s services more attractive.
You get the benefit of cashless facilities like cashless hospitalization. Your insurer’s empanelled hospitals and garages provide wide range of cashless facilities. The insured gets benefit of various services like hospitalization and treatment for aliments like heart attacks, brain problems, broken limbs, and burns free of cost or the insurer pays the major part of your expenses as included in your policy terms.
Further you can browse through the following points to enhance your safety measures-
Stay alert. Put on the warning lights and ensure the traffic knows about the occurrence of accident. Remove or ride your car out of the danger area.
Call the ambulance when one gets physically injured.
Call and inform the police immediately if some involved person leaves the accident scene.