Here are some of the Tips while selecting a Car Insurance.
1. Try to get a quote from reputed public sector companies like
1.1National Insurance Co. Ltd
1.2 United India Insurance Co.
1.3 The New India Assurance Co. Ltd
1.4 The Oriental Insurance Co. Ltd.
They have wide networks and their insurance quotes are reasonable too.
2. Next option is to get quotes from private sector companies like
2.1 ICICI Lombard General Insurance Co. Ltd.
2.2 Bajaj Allianz General Insurance Co. Ltd.
I have experienced a large variation in the insurance quotes between public and private sector companies, and another surprise is that, even between public sector companies i have observed a difference of 2000-5000 rupees.
3. Also keep in mind that inexpensive car insurance may not be the best. Always check with the service center before taking insurance and go for companies with good track record and the parts which are avoided in the insurance document.
4. Most of the time, some companies may call or send you an intimation letter about your policy renewal. But upon checking with other companies we may know how much those customer satisfying companies may charge you.
1. Try to get a quote from reputed public sector companies like
1.1National Insurance Co. Ltd
1.2 United India Insurance Co.
1.3 The New India Assurance Co. Ltd
1.4 The Oriental Insurance Co. Ltd.
They have wide networks and their insurance quotes are reasonable too.
2. Next option is to get quotes from private sector companies like
2.1 ICICI Lombard General Insurance Co. Ltd.
2.2 Bajaj Allianz General Insurance Co. Ltd.
I have experienced a large variation in the insurance quotes between public and private sector companies, and another surprise is that, even between public sector companies i have observed a difference of 2000-5000 rupees.
3. Also keep in mind that inexpensive car insurance may not be the best. Always check with the service center before taking insurance and go for companies with good track record and the parts which are avoided in the insurance document.
4. Most of the time, some companies may call or send you an intimation letter about your policy renewal. But upon checking with other companies we may know how much those customer satisfying companies may charge you.
5. Also there are chances for online insurance scams. Some Cheats may call you and tell that your policy will be expiring in next 2 weeks and we have good offers and send their agent to collect the money. They may also offer you some 10-20 per cent discount. Its better to avoid such traps.
6. The next option is Third party insurance. Here you cannot claim any repair costs for your car. The benefit will be only for the third party. Here the premium would be the least and at-least third party insurance is compulsory for all the vehicles. So if you are confident about your driving skills and can afford any repair cost its best to go ahead with TPI. Insurance companies will issue TPI only for those vehicles which don't have any loans and hence need a clearance certificate from the banker where you have taken vehicle loan.
7. Try to make use of the No Claim Bonus [NCB] of you car when you are purchasing the new car. If you don't have any claim history for the last few year, you would have good % of NCB. Just use that while taking insurance for your new car.
8. NCB can also be utilized while changing the Insurance provider.
0 comments:
Post a Comment