Buying car is always special, whether it is the first time or fifth time. While buying a car we think of so many things like brand of the car, color, its fixtures, extra accessories and so on. Car insurance is equally important to consider along with other factors before buying a car.
What is Car Insurance?
Car insurance is a contract between thecar owner and insurance company.The car owner has to pay the premium while buying insurance and the insurance company will pay you the losses, when there is a damage or theft to the car, according to the previously agreed terms. This insurance is to be renewed yearly and it should not be neglected.
Points to be remembered before buying insurance
There are many insurance companies in the market.It is better to choose an insurance company in advance. Last time choices may lead to wrong decisions. Here are the few points to keep in mind before buying right car insurance for you.
- Check for the claim settlement ratio of the insurance provider. This is an important factor that will show the companies responsibility towards its customer. They won’t reject your claim for baseless reasons and won’t let you wait for more time. Choose a company with good trackrecord.
- Choose a company with good customer service and support.
- It is advisable to go with an insurance company with the cashless option, as it would be more helpful in emergency times. Of course, it is not a mandatory.
- Check the company’s network of garages of the company, their closeness to your locality and also their feedback.
- Consider how fast the insurance company is providing insurance coverage in case of any damage or theft of the car.
- Try to avoid intermediate brokers and approach your chosen company directly. Intermediate agents may lead you to choose wrong insurance company in the interest of their commissions.
- Compare at least five companies quotes along with the services they offer. Then choose the one suitable for you.
Consider all the above points before buying a car insurance. Compare the premiums and their extent of coverage of various companies. Read the companies terms and conditions also, before buying car insurance from a company.