You probably spend a lot of time picking out your new car, visited a number of Car dealer, asked your friends and experts about their opinion and finally settled on your dream car. When you were just about to get the Car keys your dealer reminded you that you need insurance to drive the car out of the gate. But worry not, the dealer can arrange car insurance for you, complete all the paper work and have you covered in no time. Insurance is last thing on your mind and you go with dealer. What you probably don’t know is that the dealer made a hefty sum on your premium and you ended up with a bad deal on the Insurance. What you negotiated on the car value you lost in insurance.
Past is
past, when the time comes to renew your car insurance give the dealer a miss.
Here are 3 simple steps that you should follow to get the best insurance deal.
1.
Compare rates and shop around
Car insurance rates vary widely from insurer to insurer.
Insurers frequently change their rates. The plan that was cost effective last
month may not be same today. Comparing insurance and then choosing the right
one can save you up to 50% on your car insurance. Compare car insurance rates to bring
out the coverages offered by various plans, the cost effectiveness of each plan
and the help you arrive at a right decision.
2.
Evaluate your coverage needs
Every car insurance plan has a number of options. You need to figure out the
options that are relevant to you. If you have a car costing over 10 lakhs, you
may want to go in for zero depreciation cover. Don’t forget to get personal
accident protection for your passengers. Accidents can happen because of no
fault of yours. Irrespective of your fault your NCB may go away. You have want
a coverage to protect your NCB. Here is a list of coverage that you may want to
consider:
a. Personal accident for passengers
b.
Cover
for accessories: Things like A/C and music system are not covered in
the normal course. You may need this cover if you want to insure them.
c.
Zero
Depreciation: Get your insurer to pay the entire claims with no
deduction for depreciation.
3.
Investigate the Insurers
Not all insurers are same when it comes to claims and
service. First and foremost check out the cashless garage list of the insurer
in your city. Pay special attention to the garages for the manufacturer of your
car. Car these garages manufacturer authorized? It is also important that you
find out what the claims and service performance of insurers are. How quickly
do does the insurer settle the claims. How many complaints does the insurer
has? Visit the insurer’s home page to find out or check out the insurer’s
performance of policylitmus.com
So when it is time to renew your car
insurance, don’t just send out the premium check to your existing insurer,
compare and evaluate to get the best deal.
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