A car insurance acts as a guardian angel that looks over you and ensures that you have a safety net in case an accident occurs. For example, you bought a brand new car and on the very first day, a negligent rider nicked your car and cracked the tail light. The car showroom charges you a hefty amount for repair charges. In such circumstances, a car insurance can ensure that you don’t shell out even a penny for the work done.
There’s No Point Buying Car Insurance If you’re Not Doing It Right
There are a plethora of insurance companies who offer you plenty of car insurance policies. Each of these insurance policies will have an add-on, the other one doesn’t. You might settle for a cheaper insurance in the beginning and end up paying an exorbitant amount in case of a mishap.
So, before you settle for an attractive car insurance, ensure that you have the answers to the following five questions:
1) What kind of coverage should I opt for?
There are two types of car insurance coverages offered by insurance companies. These are:
- a) Comprehensive: In this type of car insurance, the insurance company will pay for damages that have been caused to your car by external factors such as accident, fire, riot, theft, floods, earthquake, etc. It will also cover the third-party liabilities.
- b) Third-party insurance: In a third party car insurance, the insurance company compensates the owner of the other vehicle that was involved in the accident, but doesn’t cover the expenses you will incur for repairing your car.
While purchasing car insurance, you need to consider which type of insurance covers all your requirements. It is not a one-size-fits-all situation as each owner will have a different requirement.
2) Is the company offering any special add-ons along with the car insurance?
There are chances that you’re eligible for a significant discount or an offer as per the insurance company’s policies. The special add-ons could include 24×7 roadside assistance, loss of key cover, zero depreciation, engine protector, etc. Ensure that you have selected the add-on that you’re interested in while purchasing the insurance.
3) What is my deductible in case of an accident?
In a few cases, if you meet with an accident, the car insurance company will only cover part of the expenses. You will have to pay a deductible to cover the rest of the expenses. Research and find out which insurance company requires you to pay the least deductible in case of an accident.
4) Is a 24-hour claim service available?
You never know when misfortune will strike and you will meet with an accident. If you get into an accident on Friday night, you want your insurance company to take care of the formalities latest by Saturday noon. Hence, look for an insurance company that has a 24-hour claim service.
5) Are OEM parts covered under the insurance policy?
Most people assume that the insurance company will pay for the OEM (Original Equipment Manufacturer) parts. There are chances that the insurance company will pay only for general aftermarket parts which could damage your car in the long run. Therefore, before purchasing the policy, read all the terms and ensure that the insurance will cover the cost of the OEM parts in case of an accident.
How Car Insurance Can Ease Your Pain
It is a painful and stressful experience when you meet with an accident or if your car gets stolen. You need to handle the mental stress arising from the situation on your own, but a car insurance can ease the financial stress caused by the incident.
All you need to do is call your insurance company and apprise them of the situation. They will have protocols in place to handle almost all kinds of situations. In case of an accident, an insurance agent will arrive at the car showroom and take care of the insurance claim formalities. Even in case of a theft, the insurance company will know how to handle it and ensure that you bear the bare minimum costs.
A Safety Net for Unsafe Roads
Choose the car insurance that covers all your needs and doesn’t burn a hole in your pocket. It will come in handy when you need it the most. With so many car insurance policies to choose from, it can be a herculean task to choose the right one. To compare a variety of car insurance policies and choose the best, check out Coverfox.com. Safe driving!