Car insurance companies keep coming up with attractive plans that can cater to almost all the needs of a car owner. People visit different companies to view the available options until they find a satisfactory plan. However, making a physical visit to the insurance office might not be a feasible option in 2020. The Covid-19 pandemic is sprawling its roots very fast in India and going out does not sound like a good option. So, how to buy a plan without analyzing all the available options? Well, one can easily get car insurance quotes online. Yes, almost every insurance company provides an online facility through which one can buy and renew car insurance easily. All it requires is some basic details and documentation. By following a few simple steps, one can buy the preferred insurance plan while sitting at home.
One can easily compare and get the car insurance plans that are available online.
Get The Car Insurance Quotes
Every insurance company releases insurance quotes with different offers and benefits. The quotations differ from company to company and also depend on factors like car model and class, brand, engine-type, etc. To get the quote, one needs to fill out a form that requires all these details.
Basic Details of The Car
The basic details of the car need to be mentioned before getting a quote. This information is required to get the estimation of the basic premium. Fill the model name and number of the car, its variant, etc. For instance, the premium of a sedan class car would be higher than that of a Maruti 800. Similarly, insurance premium also varies with engine capacity, make and model of the car, geographical location, etc.
Car Manufacturing Date
The year of manufacture is needed to assess the IDV (Insured Declared Value) of the car. The IDV is the maximum amount that the insurer would pay if the vehicle is damaged completely. This value keeps depreciating every year which is why it is important to know the manufacturing date.
Type of Engine
The higher the vulnerability of a car’s engine to combustion, the higher is the price of insurance premiums. A CNG car owner is bound to pay a slightly higher amount of premium than a petrol/diesel car owner.
Every insurance company offers a basic insurance plan which only provides limited coverage. There are many other coverages called add-ons that are offered by insurers against some extra premium. So, one needs to go through all the available options and then decide whether he needs additional coverage or not. If yes, then the preferred options must be selected before submitting the form.
After filling the form carefully, click the submit option. Within a few minutes, the car insurance quotes would be displayed to you depending upon the details provided by you.
Make a Rational Comparison
There are a lot of car insurance companies in the market. Hence, you do not need to hurry or make a decision without comparing all the available insurance plans. Visit every possible insurance website and get a car insurance quote. Alternatively, one can make a smart choice by visiting a single website that can provide the insurance plans of all the companies. One can get all the details on a single screen through the website of companies like Turtlemint. This saves time and efforts of the buyer as every desirable plan is available on a single screen. Buying car insurance is a much more crucial task than buying a car itself. If one makes a wrong decision in a hurry, there is no option to back out. Analyze the market very carefully and know what is needed and best for oneself. For instance, if one has bought a car only for going on family outings and not for regular use, then there is no point in buying a co-passenger add-on cover. Instead, a personal accident coverage might be beneficial and a smart choice in this case.
Select The Plan & Make Payment
Once the car insurance quotes are compared and the market is analyzed thoroughly, select the plan that seems most desirable. All it requires is a few simple clicks to buy the car insurance plan. One should be careful while making an online payment. Enter the bank details carefully. If any other online banking option is chosen, provide accurate details. In case of any queries, one can contact the customer care service to seek help.
Today, buying car insurance online is one of the simplest and easiest things to do. It not only saves time and effort but also provides a very hassle-free process of comparing the available plans. The car insurance industry is competitive which is why there are so many different plans available in the market. Every company wants to serve in the best way possible. And as a wise buyer, one should be very analytical and rational with his choice.
Raj Kumar is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance clap.