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Things To Consider Before Selecting Long-term Comprehensive Car Insurance

Published On Dec 29, 2020, Updated On Mar 20, 2021

Taking insurance for the car is mandatory in India for extensive coverage on third party liability. It also relieves the buyer from annual policy renewal and price hikes. But It is important to consider factors like risk exposure, add-ons, and the insurance service provider.

A car insurance policy is a crucial cover that all car owners should consider after buying a car. It protects the owners against all damages, caused by self and others and also protects the car against thefts and natural calamities as well. Though adapting a car insurance policy is important there are multiple factors to keep in mind before purchasing comprehensive car insurance.

Things To Consider Before Selecting Long-term Comprehensive Car Insurance

Factors to Consider Before Purchasing a Comprehensive Car Insurance:

Long term comprehensive car insurance offers a wide insurance coverage along with a mandatory third-party liability policy. The four important factors to consider before purchasing a comprehensive car insurance policy are as follows.

1. Risks That Are Covered Under The Policy

Car owners should avail of insurance based on the risks that their vehicle might expose to. If the car is more prone for damages or is taken frequently in risky routes and weekend drives and if it is used in areas prone to natural calamities, then it is important to book adequate coverage that is proportionate for the quantum of the risks.

2. Look For Add-ons Available With The Policy

Though the policy add-ons are not compulsory and are optional it is still beneficial to analyze the quantum of risk exposure and choose appropriate add-on covers. For example,

  • Those who reside in areas prone to heavy rainfall should choose an add-on cover for engine protection.
  • Add-ons such as zero depreciation will prevent the insurer from reducing the depreciation value of the vehicle from the settlement claim.
  • The No-claim bonus add-on will help to keep the bonus intact even while claiming in a policy year.

Thus by choosing an excellent add-on it is possible to add a lot of value to the policy.

3. Credibility of the Insurer

The comprehensive car insurance coverage offered by the different insurance providers can seem similar, but their services will differ. It is important to read and understand the terms of all insurance providers before choosing the insurer. The credibility of the insurer is very important while buying an insurance policy. People should choose a provider who can stand by their side during tough times. Also, the processes relating to claims should be stress-free.

4. Cashless Garages Network

Every insurance company will have a network of garages where cashless car repair services are performed, based on the sum assured. The insurance for physical damages will be attempted by the insurer according to the coverage and validity of the plan. While buying the car insurance plan, check plans that have a vast network of garages to render cashless service.

Bottom Line

Choose a comprehensive car insurance plan from a reputed brand so that it delivers services as promised. It is optimal to choose a long term car insurance policy to make sure that the car stays insured for a long time. Several car insurance companies offer a lot of additional features along with mere coverage and thus it is important to compare policies and choose the best fit one.

Also Read: Tips to Compare Comprehensive Car Insurance Plans

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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