Having your four-wheeler gives you much-needed freedom. It ensures convenience while commuting. If you are planning to buy one, you must get it insured. It is a mandatory law according to the Motor Vehicles Act in India. As per the guidelines, secure your four-wheeler with at the least Third-Party Policy.It gives you the standard coverage of fulfilling legal and financial liabilities towards others.
But you also have the option to choose a Comprehensive Policy. It is a Car Insurance Plan that provides extensive coverage. Regardless of your choice, these policies come with an annual validity. Hence, renew them every year to ensure continuity. A long-term plan helps avoid such frequent renewals for up to three years. But before opting for it, consider some essential factors:
Ownership
A long-term Four-Wheeler Insurance is only beneficial when you use it. For this, you need to withhold possession of your vehicle for three years. Ifyou decide to sell it before this period, you lose out on insurance benefits. In contrast, you must transfer the policy to the new owner. Hence, it is crucial to think about this aspect before committing to a long-term plan.
Riders
The best part aboutCar Policy renewal is it lets you review your Car Insurance online. This way, you get to alter your choice of add-ons. As a long-term plan eliminates this process for three years, you need to finalise such features carefully. Think about its extended feasibility before selection. For instance, a Roadside Assistance cover is helpful for long trips and far-flung areas. It makes sense to choose it only when you see yourself using it for an extended period.
Insurer’s credibility
Your claim settlement highly depends on the insurer you select. You want a reliable one that stands by you in tough times. Hence, your research should involve more than just premium costs. Consider credibility as an essential factor. It also ensures you get a genuine Car Insurance Policy. Read online reviews, talk to your friends, and check the insurance company’s reputation to ascertain this.
Comparison
It is crucial to take your time researching different insurance providers. It is the best way to get affordable offers. However, your focus should go beyond getting the lowest premium. Think about the coverage and benefits you get against the price. Using the insurance aggregators or visiting the insurers’ websites helps get an accurate idea. Consult your friends and family for the same. It is advisable to buy online Car Insurance after a thorough understanding.
Additional features
Competition has increased due to the advent of digital insurers. Precisely why many policy providers are attracting customers with premium services and select add-ons tha help extend the protection. So, stay on the lookout for the same while comparing offers. Grabbing your hands on some essential facilities proves helpful in getting the best plan. Moreover, these are for a limited period or seasonal.
Cashless network
The policy providers settle your claims in two ways: they either pay for the compensation after the repairs or directly clear the bills with the garage. The latter is the most convenient option in emergencies. Therefore, check for this service in your Car Policy. It only applies when the garage comes under the insurers’ network. Thus, check for this aspect too.
