It is human nature to desire the best of things for oneself. After buying the best possible car, it is time to buy the best car insurance policy. But what is the best car insurance policy? Is it a package deal that you buy off the shelf just because it is labelled the best car insurance in India? The best car insurance is one that gives adequate coverage to you and your vehicle. Also, a motor insurance policy that is the best one for your friend might not even be good enough for you. Assume your friend drives a hatchback occasionally and you drive a sedan to work every day, so do you think your needs regarding car insurance would be the same if your car model and usage are so different. Let’s view some factors that you should consider in order to buy the best car insurance for you and your car.
Car insurance providers in India offer two broad types of coverages: third party insurance and comprehensive car insurance. While third party insurance covers the third party for damages to their vehicle, property and injuries. Whereas, comprehensive car insurance offers coverage against damages to your vehicles and bodily injuries, along with third party coverage. While third party insurance or liability insurance is cheaper than comprehensive insurance, it does not offer adequate protection for your vehicle. So, if you have a car whose spare parts are expensive to replace, you should opt for a comprehensive car insurance policy as that could be considered the best car insurance policy for you. On the other hand, if you have a car which is rarely used, which is mostly parked in your garage, you could consider buying third party insurance.
In order to buy the best car insurance in India, you need to understand what is covered by your motor insurance policy. Therefore, it is important to read your car insurance policy wordings carefully. Moreover, once you understand the inclusions and exclusions of your motor insurance policy, you are in a better position to make claims.
Add-on covers, or riders are sold along with the base car insurance policy to offer you and your vehicle added protection. So, a risk that may not have been covered in your comprehensive car insurance policy can be insured by opting for add-on covers, subject to availability. For instance, if you have employed a driver, and would like to ensure that he is covered for injuries and death in your car insurance policy, you can opt for the paid driver accident add-on cover. Selecting add-on covers as per your requirement will help you buy the best car insurance policy.
To sum it up, the mantra to buying the best car insurance in India is purchasing only as per your requirement. So, if you live in a flood-prone city like Mumbai, it makes sense to buy the Engine Protect add-on cover that will pay for damages caused to your engine due to water or oil leakage. If you have purchased a new car, you could also consider purchasing the zero-depreciation add-on cover in your car insurance.
Finally, the secret to buying the best possible car insurance is asking yourself the right questions: “Does this car insurance cover all my needs?” “Can I afford the premium?” Once you have satisfactory answers to such basic questions, go ahead and sign the dotted line.
Car insurance also helps you keep your vehicle in perfect condition always. While people often fix major damages to their vehicle, they tend to ignore minor damages, but having a car insurance policy ensures that your vehicle always looks shiny and new. So, ensure you get yourself the best car insurance policy today.
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