12-09-2017 04:36 PM
What important points to remember while buying motor policy?
21-09-2017 05:01 PM
Here are 6 main things to remember before buying car insurance in India:
1. Claim Settlement:
First and foremost factor to consider for any insurance is the claim settlement ratio of the company. Go for a company with a good track record of settling car insurance claims and also settling them reasonably quicker.
2. Customer Service and Support:
Once you buy the policy the support and service of the insurance provider matters the most. While issuing policy all companies are cordial and warm, but it is the company that is the same later and especially when you have to make a claim, is the one you should opt for. You should compare and ask around a few people for their experience with the different companies and then decide. Also there should be 24×7 support and contact points available for you to reach out to them when you need.
3. Cashless Option:
Like your mediclaim has the option of cashless hospitalization, similarly some car insurance companies also provide this option. If your company provides it, its a great relief during emergencies and you do not have to run around arranging for cash and hence is a thing to remember when buying car insurance in India.
4. Network Garages:
The more the network garages the better and the more they are nearby you it’s best. Check the list of network garages and also the reputation and feedback of these garages while choosing a car insurance company in India.
5. Speed of Issuance and Coverage:
Other factor to consider when taking car insurance in India is the how soon the coverage can start and how soon will the policy be issued. Gone are the days when it took months for the whole thing to finalize. It is the era of instant things and hence the speed of coverage and issuance of policy should be considered while buying car insurance.
6. Frills needed or Not:
24×7 road assist, towing services etc are often offered by insurers and is good to have a one-stop solution to all your needs when faced with an accident or emergency. However there are times when these features may add to the premium and if you are on a budget this feature can be easily skipped and you can save some money. Opt for these add-ons only if you are comfortable affording it, otherwise it is not a deal-breaker.