Car Insurance Policy

Last Updated on March 9, 2024 by admin

Car insurance is a must-have tool of financial aid that supports you during uncertain times of emergency. Also, according to the Motor vehicles act, having proper third party car insurance has been made mandatory by the government to drive on Indian roads. Driving without proper insurance is considered an offence in India. You can choose from the best car insurance policy providers like Bajaj Allianz, Acko, etc. To help you get a more in-depth insight, here are the top 5 important factors that you need to look for in a car insurance policy. Read to know more!

  1. Understands your needs

There are many things to consider when you are buying a car insurance policy. Most important is to identify your needs. Whether you are buying a comprehensive policy or third party car insurance you need to know what you need in your insurance policy. Just conduct a risk assessment based on your region to determine your needs. Once you know what you need in your car insurance policy then you can buy an effective policy online at your fingertips. Post-identifying your requirements, you can easily pick out the best policy that suits you. 

  1. Compare multiple offers online

Comparing quotes online is mandatory for all the insurance plans that you purchase, Online insurance market is very large, there are hundreds of insurance companies with different policies in the market. Therefore, you should familiarize yourself with a car insurance policy and its premiums. You can browse a wide range of comprehensive & third-party car insurance policies online at Bajaj Finserv. It’s very easy and simple, just visit the portal & compare a vast variety of car insurance policies. By comparing these policies, you can understand the inclusions and exclusions in a much better manner. 

  1. Cashless Facility

If you’re looking for a new car insurance policy in India, try buying a policy that offers a cashless facility. This is one of the most important aspects of any policy, whether it is comprehensive or third-party car insurance. If you have a cashless facility along with your car insurance policy, then the insurance pays the amount directly to the workshop.

Conversely, if you don’t have a cashless facility, you need to pay the repair bills, and then you can collect the money by providing various documents and repair bills to the insurer. You can opt for the Bajaj Allianz car insurance, as they have more than 7000+ partnered networks of garages for cashless service facilities. 

Car insurance can help you pay for damages during unforeseen events and reduce liabilities. Carrying a valid car insurance policy and other mandatory documents while driving a car is essential. 

  1. Services offered

There are so many things that you need to check while buying a new car insurance policy. When you plan to buy it, check what are the services offered by the insurer. All the services that are available along with your policy, should be useful to you. Choose likewise. Some of the prime services that you should check are; claim settlement processes, customer support, & post-purchase support. Bajaj Allianz provides seamless 24×7 customer support to relieve the queries of their customers. 

  1. No claim Bonus

No claim Bonus is nothing less than a perk of a car insurance policy. It is a type of reward offered by the insurer to the insured for making no claims during the year. It is in the form of discounts, that you can grab along with your premiums of the car insurance policy. This is a must-check program, whether you are buying a comprehensive policy or third-party car insurance, you should check about NCB. Make sure to check the maximum discounts offered by your policy provider for the accumulated no-claim bonus. 

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Sophia Anderson is a finance writer and blogger with a passion for helping people improve their financial literacy. With over 5 years of experience in the finance industry, Sophia has worked with individuals, families, and small businesses to provide financial advice and guidance. Her expertise includes budgeting, saving, credit management, and debt reduction. Sophia is dedicated to breaking down complex financial concepts into easy-to-understand language and empowering her readers to make smart financial decisions. She is a frequent contributor to financial publications and has written extensively on topics such as personal finance, investing, and financial planning. Sophia's mission is to help people take control of their finances and achieve financial sec…