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Liena Shetty
Contributor
Posts: 37
Registered: ‎12-07-2017

How does one select the right insurer for buying motor policy?

How does one select the right insurer for buying motor policy? 

1 REPLY 1
Vivaan Tiwary
Occasional Contributor
Posts: 16
Registered: ‎23-08-2017

Re: How does one select the right insurer for buying motor policy?

Selecting the right insurer is very important for complete peace of mind when you insure your car. The following are the key considerations that buyers must take into account while deciding their insurer:


A.Company's track record in claims settlements: Companies with lower grievances, lower ombudsman cases, lower claim repudiation rates should be a selected which indicates fair claims settlement practices of the company

 

B.Company's network of garages and cashless claim payments facility

 

C.Company's brand image: A company with a strong brand image is likely to be more careful about its service levels to protect and enhance its brand image

 

D.Premium: An Important factor but only if the above three are positive. A company which is strong in above three should be preferred even if its premium is not the lowest in the market because it will not cut corners at the time of claims, though it may charge a little high up-front. After all, quality never comes cheap.