Gudi Padwa 2024: Best Time to Buy a New Car with Motor Insurance

Posted on: Mar 22, 2024 | 3 mins | Written by: HDFC ERGO Team

Gudi Padwa 2024: Best Time to Buy a New Car with Motor Insurance

Buying a car liberates you from long waiting hours for public transport and cab services to visit any place. If you have to travel to remote areas for work, your vehicle can be your savior. Road trips are quite prone to accidents and risks. Thus, buying motor insurance once you buy a car is always a good practice. Let us understand in depth the 6 reasons why Gudi Padwa 2024 is the best festive season to buy motor insurance.

Gudi Padwa is an auspicious day, and making a great start on the first day of the year will set the tone for the entire year. With the onset of the spring season and the bliss of blossoms all across the country, people wait for the whole year for this day. Gudi Padwa is a good day to start new ventures and make big purchases. Apart from materialistic investments, investing in our vital asset health is also promising. So, make the most of Gudi Padwa and invest in motor insurance to guard the newly purchased car. Here is a quick checklist and an elaboration of the motor insurance categories on the market. Additionally, it has the reasons why you must buy them.

Gudi Padwa 2024

Gudi Padwa resonates with happiness, success, health, wealth, and good luck as it marks the New Year for many Indians. As the saying goes, let's make the one day the first day of a good start. From people across Madhya Pradesh, Goa, and Maharashtra, Gudi Padwa is quite promising as it has religious importance. If you have decided to buy a new car or are planning to get one, take advantage of the golden opportunity of the 2024 festive season, Gudi Padwa. Below is a list of benefits of car buying and motor insurance that are beneficial during this season.

Offers during and before the Gudi Padwa 2024

The car manufacturing units have a good understanding of the Indian market. And understanding the religious factor, car dealers offer lucrative deals during the Gudi Padwa season. The massive discounts can save a lot of money on new car purchases. So, booking a car during Gudi Padwa 2024.

with an excellent financing option can make your dream of buying a car come true. At times, the car dealers have promotional activities before the Gudi Padwa through advertisements and campaigns. They sometimes leverage social media platforms to attract customers. Since these offers and discounts are out well in advance, you can fulfill your wish to purchase a new car with bumper discounts.

The pandemic has immensely affected car sales; hence, car manufacturers observed a slump in sales growth. Thus, the car manufacturers look forward to and leverage the festive season to sell more cars. This is a win-win opportunity for car dealers and buyers as car manufacturers can clear their stock, and you can drive a car home at a reasonable rate.

New Car Insurance

Once you drive a car home, you will need a new car insurance policy. Multiple supporting reasons are enlisted to ensure adequate car policy, as any car can face many financial risks. As per the law of the Motor Vehicle Act of 1988, it is now mandatory to buy motor insurance once you buy a brand-new car.

1. Third-party coverage

Third party car insurance covers all the losses raised because of an accident. It will refund the injuries for the liabilities and save you a penny.

2. Comprehensive coverage

Comprehensive car insurance includes third-party car insurance. You can repair the car damages without any hassles or expenses if unfortunate accidents hit your car.

3. Personal Accident Coverage

If the registered driver meets with an accident, then the lump sum amount is given to the nominee after his death or any major injury. You can also add unnamed passengers to the coverage list to take advantage of this personal accident cover.

4. Partnerships with garages

Most insurance providers have a linkage with garages and have a list of garage networks. When buying new car insurance, the service providers will settle the expenses with the garage for any repairs, and you are exposed to the garage network, saving a lot of time.

5. No claim bonus

There is a defined tenure in which you can claim your policy. But if you don't do so, you are considered a safe driver, and the insurer will give you benefits in the form of discounts when extending or renewing your policy with no claim bonus cover. The discount percentage ranges from 20% and can go up to 50% through accumulation in the next 5 consecutive years.

6. Online Buying platform

With the digital revolution, you no longer need to interact with sales representatives. You can compare the policies yourself and choose what best suits you.

CONCLUSION

A perfect occasion to buy your dream car at a discounted rate, Gudi Padwa 2024 can be your lucky day. Together, the bumper offers advantages to car dealers as it can help them clear their stocks and you can save amounts by choosing exchange deals or through feasible financing options. Also, good motor insurance must ensure you receive protection and minimal risks. Hence, remember to buy new car insurance.

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

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