Knowledge Centre

Benefits of Comparing Car Insurance Plans

Published on June 25, 2020. EST READ TIME: 5 MIN

Having diversified choices is always a good idea. This way, not only are you enhancing your knowledge about a specific product but also making informed decisions backed by research and data. CAR INSURANCE is no different. With a plethora of options available in the market, it is only logical to do your research and choose the insurance policy that best suits your needs.

However, before we start comparing car insurance plans, let us understand why they are so important.

A COMPREHENSIVE CAR INSURANCE protects you from damages, penalties, theft, third party liabilities, andlegal hassles as the Motor Vehicles Act mandates every vehicle to have insurance. Having car insurance is not an option but a necessity. Here’s how you can choose the perfect coverage.

Online Comparison of Car Insurance

Comparing car insurance online is a wise decision since it offers diverse options with varying premium amounts. You do not have to physically visit all the insurance offices as the online platform offers custom choices that fit your insurance requirement.

Before you sign up for an insurance policy, it is essential that you have a quick look at the following elements to make the most of your coverage.

Coverage

While you will be clearly informed about the basic coverage offered, online research can help you unearth more information about features such as bonus amounts and add-ons like return to invoice. Online search will enable you to find out about a number of value added services offered by the provider.

Cost

The most important thing customers look for in an insurance is the cost of the policy. While the cost is the first thing that you will see during your online research, it never hurts to compare different products and negotiate a better deal with your chosen insurance provider.

Exclusions

Many people tend to miss exclusions only to realise later that their claims are not covered by the policy and end up paying from their pockets. Before finalising on an insurance policy, it is important to compare the terms and inclusions that multiple providers offer.

Benefits of Online Comparison

Here are some benefits of comparing your car insurance providers online.

More Benefits at Lower Premiums

Not all insurance providers have the same policies. Therefore, it is possible that the premium rates amidst these providers will vary as well. By making an online comparison, you can educate yourself about the different policies as well as their premium rates, which can help you make the most economically sound decisions while ensuring that you get the coverage that you want.

Choose a Tailor-Made Policy

One shoe simply does not fit all. Similarly, no car insurance policy can meet the needs of hundreds of customers. By leveraging the power of online comparison, you can check out the details of every policy in place and tally them against one another to see which one meets your needs in a more comprehensive manner. Upon selection, you can also customise it further at extra cost.

Enjoy Discounts

Many online insurance platforms have ongoing discount campaigns that you can leverage to get your car insurance at a lower price. You can also compare different car insurance policies and their discounts to get even better deals!

Simplify Claim Settlements

Many insurance companies have cashless settlements which are easier for the customers as well as the service providers. Searching online can lead you to insurance providers that provide cashless settlement and simplify the tedious task of CLAIMS.

Online car insurance comparison is a great way to approach insurance companies and can help you immensely to secure the right deal for yourself. Informed decisions are after all, the best decisions you can make.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

This blog has been written by

Mukesh Kumar | Motor Insurance Expert | 36+ years of experience in insurance industry

A veteran in the insurance industry, Mukesh Kumar has the expertise of handling various functions like Business Development, Underwriting, Claims, Human Resources, Quality Management and Marketing. With rich knowledge of the industry, he loves to share his views on topics of insurance sector and takes special interest in educating people on advantages of having insurance.

Mr. Mukesh Kumar recommends "getting your two wheeler insured from HDFC ERGO, a brand serving more than 1 crore+ customers. With overnight repair services and more than 6,800+ network garages, you can be assured of help in event of any damage to your vehicle


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