Q:What is Best Car Insurance Policy ?
Car insurance is mandatory in India by the Motor Vehicles Act. So, there are several car insurance companies that offer car insurance covers for any unfortunate accident, damage, or theft. It is important to note that the amount you will pay for premium of your car insurance will be decided based on your vehicle’s IDV (Insured Declared Value). It is the maximum sum assured that will be given in case your car is stolen or lost and it is fixed by the insurer. Basically, it is the market value of the car and is higher for newer models. If your IDV is low, your premium will be lower but remember that IDV is the maximum value the insurer will pay you as compensation. Therefore, you must compare the IDV quoted, the other options and discounts offered by different insurers for your car by using InsureMile. Then he can choose the best car insurance policy India that is suitable and save substantially on premium.
Q: What is Best Car Insurance Online?
Gone are the days when you had to call a car insurance agent and wait endlessly for him to come (or even call). With the advent of smart Apps such as InsureMile, buying the best car insurance online is the smartest thing to do, and the easiest. It is also the best way to have a detailed comparison of the latest rates, offers, and discounts of the top car insurance companies of India at a glance, and in a click.
Q: How to choose Best Car Insurance Policy?
We use cars for a variety of reasons. So, there’s really no ‘one-size-fits-all’ type of insurance for cars. What is considered the best car insurance policy by one may not meet your expectations at all. The best way to undertake this research is to generate a comprehensive comparison chart for your make of car from the top five insurers. Then compare the amount they have granted for individual claims such as coverage for different parts of the car, medical expenses, repair of the vehicle, loss or damage, legal liability, injury, or death. This will help you decide who is best suited to be your insurer.
Keep the following points in mind when you look for the best car insurance policy.
The make of your car, model, and variant are important in determining the base premium. More expensive and luxurious the car, higher the premium. Size of the car matters too.
The Insured Declared Value (IDR) depends on the year of manufacture of the car. IDV decides the annual premium for your vehicle. Obviously, newer the car, higher the premium.
If you want additional cover for the accessories (both electrical and non-electrical), you have to pay additional premium
If you have a CNG fitted car, you have to pay higher premium than a regular petrol or diesel car.
You can decrease the premium amount by opting for a higher voluntary deductible. It is the minimum amount of money you agree to pay when you stake a claim. By agreeing to bear the financial burden with the insurance company when there is an accident, you can pay lesser premium.
If your car is fitted with an anti-theft device that is approved by ARAI, you can avail of a 2.5% discount.
Members of Automobile Association of India (AAI) and special professional such as doctors, government employees, and defense personnel are given additional discounts on their premium.