Car insurance plays an important role in providing comprehensive safety to your car as well as to passengers. You should be extra selective while choosing for car insurance as it is a matter of money. To purchase a car, you need a huge amount of money and to maintain that car it needs a little more. So, car insurance will financially help you in the maintenance of a car in case of an accident. After purchasing it once, renewing it again a year later is the most terrifying and challenging task for every car owner. If you want the best car insurance renewal then you must need to prepare a checklist of the coverage options. Else you will miss to take any important coverage and regret it later. Apart from this, you can also choose to renew your car insurance online. You will get a better comparison of all the benefits, exclusions, and deductibles.
Benefits of renewing car insurance online
Most of the proper preference to buy or renew car insurance online. The main reasons that encourage them to buy it online are:
- No need to consult an agent: If you are going to buy car insurance online then you don’t have to ask an agent for your choices. You can select the coverages and premiums as per your requirement.
- Zero Paperwork: Another benefit of buying or renewing car insurance online is that you don’t have to collect and assemble documents in a file. The whole process is digitalized, so just fill the form online, upload the documents and policy documents will be mailed to you.
- Time-saving and convenient: Buying an online policy is anytime more convenient than searching it offline. It is easy to compare, understand the terms and conditions, effortless, and saves a lot of time. You don’t have to travel to various insurance companies in search of suitable plans.
- Easy comparison: Different insurance companies make available numerous offers, coverage options, and premium variation as per the model of vehicle. So, you can sit at your home and browse for quotes from multiple insurance companies.
- Cost-effective: Renewing car insurance online is an economical idea as you can save a handsome amount of money. It will also eliminate the involvement of a middle man that also costs you money, you can avail various discounts and there is no paperwork.
- Cashless facility: With the online facility, you can pay premiums with credit cards, debit cards, and net banking. You don’t have to carry hard cash to the insurance company in order to renew your insurance policy
- No need to carry hard copies: One more benefit of online car insurance renewal is that you don’t have to keep searching for hard copies. You already have the soft copy of policy documents saved in your mail that you can access from anywhere.
How Can You Take Right Decision?
Among all the insurance sector in India, car insurance companies are emerging these days due to extra traffic and equally more road accidents. So, it is important to save money if you own more than one four-wheeler. You can also take a combined insurance policy for both vehicles. Otherwise, separate insurance policies will surely put a hole in your pocket. There are some tips that you can follow while renewing motor insurance online:
- Compare multiple policies: If you are not getting proper service with your previous insurance provider then continuing with the same for next year is total stupidity. You can search for online quotes from other top car insurance companies and choose the best from them.
- Don’t forget to read policy documents carefully: By chance, if you miss reading some clause at the time of purchasing the policy then later it will be stressful. There are certain hidden clauses mentioned in the policy that you should read before purchasing so that you don’t have to face any problem at the time of making a claim. Know the value of your vehicle: Calculating the value of your vehicle will save you from paying extra premiums. So, make sure to check the market value of the car and negotiate with the insurance provider.
- Take advantage of no claim bonus: On not taking any claim for one year all the insurance companies in India reward you with no claim bonus. So, if you are making a claim after one year of interval then don’t forget to take the privilege of no claim bonus. It will reduce your premium price up to 50% with respect to the no claiming year.
- Claim higher deductibles: Choose for high deductibles while renewing your car insurance online as it will help to decrease the premium amount. The deductible amount is up to 30% of the total sum insured that you have to pay at the time of making a claim. The rest payment will be completed by the insurance provider.
There are multiple types of car insurance policies available in the online market. Some of them cover the losses of car damage while others pay for the bodily injury of the passenger. While purchasing car insurance, it is vital to look for the safety of both. You can’t neglect the medical expenses over vehicle repairing costs. Apart from the basic plans all companies provide add on covers for extra security. If you want to purchase these add on covers then you have to pay an extra amount of money. This may include engine protection, no claim protection, key protection, daily allowance benefit while your vehicle is at the garage for repair. In India, the government has imposed a high penalty for owners who don’t have vehicle insurance. So, it also protects you from fine and legal formalities.