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People buy car insurance Often they are in a hurry right before their old policy expires or when they get a new car. Most people focus on the premium and coverage amount, but they overlook other important details. These unseen things can play a big role in what happens to claims, total expenses and your peace of mind in the future.
when you decide buy car insurance onlineLearning about these less obvious aspects can guide you in making better and smarter choices.
more than the cost of the premium
Many people often make the mistake of comparing car insurance plans just by looking at the premium. The lower premium may seem like a better deal at first, but it comes with trade-offs. Things like deductible amount, claim limits and additional benefits are important in determining how much a policy is worth.
In many cases, paying a little more for broader coverage and lower limits can save you a substantial amount during claims. Therefore, it is important to assess what the policy offers and not just how much it costs.
Understanding policy exclusions in detail
Policy exclusions are often overlooked during purchase but become extremely relevant at the time of claim. These exclusions specify situations where the insurer will not cover the damage. Common examples include damage caused by drunk driving, regular wear and tear, or using the vehicle for purposes for which it was not insured.
Many people believe that comprehensive insurance covers all scenarios, which is not true. Comparing car insurance plans without reviewing exclusions may lead to unpleasant surprises. Always study this section carefully before finalizing your policy.
Add-ons: Are they worth it or not?
Optional add-ons like zero depreciation cover, engine protection, roadside assistance, or return-to-invoice protection often confuse buyers. Some people avoid these altogether to cut costs, while others add everything without evaluating the utility.
The right approach is to select add-ons based on how you drive, where you live and the condition of your vehicle. For example, zero depreciation cover is ideal for new cars, while engine protection is valuable in flood-prone areas. Buying car insurance online makes it easy to customize add-ons as per your needs.
There’s more to it than claim settlement ratio
Many people rely heavily on claim settlement ratio when choosing car insurance, but this does not tell the whole story. High CSR does not guarantee smooth claims. Factors like network garage, ease of cashless claim, turnaround time and customer support are equally important.
IDV: a commonly misunderstood term
Insured Declared Value (IDV) represents the maximum amount you can claim if your car is stolen or declared a total loss. To reduce premiums, some people reduce the IDV, ignoring the fact that this also reduces their potential payout.
Selecting the right IDV requires balance. Although a very low IDV may save money upfront, it may cause financial stress later. Ideally, your IDV should reflect the current market value of your car.
Renewal is more than just a formal step
Many people renew their car insurance without reconsidering their coverage. Over time, your car loses value, your use may change, and new insurance options may emerge.
Renewing your policy gives you a chance to see what you need, adjust add-ons, and compare options. Digital tools make it easy to buy car insurance online and check different plans during renewal.
Making an Informed Choice
Choosing the right car insurance involves more than just comparing prices or promotional benefits. Understanding exclusions, add-ons, IDVs and the claims process helps you select the coverage that really supports you when it matters most. Online platforms today empower consumers to make these smart choices with ease.
Insurers like Chola MS Car Insurance Provide reliable coverage backed by strong service and trust. With comprehensive plans designed to protect both you and your vehicle, you can enjoy every drive with confidence and peace of mind.
questions to ask
1. Is third-party insurance enough for my car?
Third-party insurance is mandatory by law, but it does not cover damage caused to your vehicle. Comprehensive insurance provides comprehensive protection.
2. Does car insurance cover natural disasters?
Yes, comprehensive policies generally cover losses caused by floods, earthquakes, cyclones and other natural calamities, subject to the policy conditions.
3. Can I change insurer during policy renewal?
Yes, you can change insurer at the time of renewal and retain your no claim bonus even if the policy has not expired.
4. What benefits does No Claim Bonus provide?
No Claim Bonus offers premium discounts for claim-free years, which can go up to 50 percent over time.
5. Is it safe to buy car insurance online?
Yes, as long as you buy from a trusted insurer or platform. Online shopping provides better transparency, easy comparison and faster processing.
Note to readers: This article is part of HT’s paid Consumer Connect initiative and has been independently created by the brand. HT does not take any editorial responsibility for the content, including its accuracy, completeness, or any errors or omissions. Readers are advised to independently verify all information.
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