Car Insurance: Choosing the Right Plan | Zurich Kotak General Insurance

Navigate, Compare, Protect: Tips for Choosing Your Car Insurance

As per the Motor Vehicles Act of 1988, maintaining car insurance is mandatory for every car owner. Currently, a host of banking and non-banking organisations are offering a plethora of car insurance products of multiple varieties and features. This makes choosing the right car insurance quite challenging.

Tips to choose the right car insurance

Highlighting the tips to choose the right car insurance:

Critically assess your requirement

Although a third-party plan is enough to maintain the legal standards, it is not much of a protection for your vehicle. Therefore, if you own a luxurious vehicle, it is best to go for a comprehensive plan to ensure enhanced protection. So, critical analysis and assessment of practical requirements are very essential to move on the right track.

Comparing plans

You must compare different plans for a better understanding of the scenario and then go for the most suitable one at the most affordable cost. You must compare the premiums, the sum insured, the coverage plan, etc. Car insurance evaluation and comparison are two pillars of choosing the right plan.

Consider add-ons

Add-ons are quite significant for comprehensive plans. You can enjoy additional coverage and protection by paying an additional premium. They expand the overall coverage span. The types of add-ons offered vary from one company to another along with their prices. Significant comparative analysis is very crucial in this respect.

Claim settlement procedure

You must review the claim settlement procedure. Ideally, it must be simple, fast, and smooth. Consider the customer reviews of every competent insurance company for a better understanding.

Consider the claim settlement ratio

The claim settlement ratio or CSR denotes the number of claims settled by the concerned company against the total number of claims raised. The higher the ratio, the better it is to opt for it. This ensures higher chances of claim approval and lower of claim rejection at times of need.

Never hide or misinform

As the saying goes, “honesty is the best policy”, it holds especially very critical significance in this context. You must never misinform your insurance provider under any circumstances. Any detection of false information or suppression of fact will straight away lead to claim rejection. They even possess the authority to cancel your insurance in total. Therefore, providing accurate information is a strong key to getting a better possibility of claim settlement at the time of requirement.

Aware of the terms and conditions

Before you finally sign the insurance contract, you must be completely aware of all the associated terms and conditions of your chosen plan. This includes deductibles, inclusions, exclusions, premium amount, add-on coverage, IDV, NCB, etc. In the case of any ambiguity, clarify them before proceeding finally.

Conclusion

This comprehensive guide sheds light on certain user-friendly tips and tactics that may aid you in choosing the right car insurance. You can easily purchase car insurance online now with just a few taps and clicks from the comfort of your home.

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Team Zurich Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Zurich Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.