In today’s world, individuals look for enhanced vehicle protection, which is why there are different types of car insurance policies available in the market.
With so many car insurance plans available, choosing an adequate plan can be challenging. An adequate car insurance policy not only offers financial protection to vehicles against various damage but also saves vehicle owners from legal obligations.
In this blog, we will learn in detail about how to compare, buy, and renew car insurance policies.
How to Compare Car Insurance Policy
By comparing a car insurance policy online, you can choose the right policy for your vehicle. It is easy to compare car insurance policies online and offline. While comparing car insurance plans online, you need to check the following factors:
- Type of Coverage: When buying car insurance online, it is essential to compare plans based on coverage. It is best to choose the plan that fits your requirements within your budget.
- Add-ons: Add-ons are voluntary offerings to enhance vehicle protection as per the requirement. Check whether the insurer offers the additional coverage you would want for your car.
- Claim Settlement Ratio: The claim settlement ratio, or CSR, is another crucial factor when comparing car insurance policies. It is the ratio of settled claims to received claims. Choose an insurance provider with a high claim settlement ratio.
How to Buy a Car Insurance Policy?
Buying a car insurance policy online is hassle-free. To purchase plans online, follow the steps below:
- Step 1: Go to the insurance provider’s website.
- Step 2: Head to the motor insurance section and select a car insurance plan.
- Step 3: Enter details like the vehicle registration number, email address, and mobile number.
- Step 4: Next, choose the insured declared value and add-ons and check the discounts, if applicable.
- Step 5: From the list of car insurance plans, choose the policy you wish to purchase and proceed to buy the plan of your choice.
- Step 6: Review the car insurance plan and its premium.
- Step 7: After verifying the policy details in the next step, click on the “Proceed to Pay” option.
- Step 8: Make a payment using a preferred mode.
- Step 9: Upon the successful payment, a purchased car insurance policy will be sent to the registered email address.
How to Renew Car Insurance Policy?
Like other vehicle documents such as a driving licence, registration certificate, etc., a car insurance policy also has validity. When an RC expires, individuals need to do a car RC renewal to avoid fines.
The same goes for car insurance policies. Driving a four-wheeler with an expired car insurance policy invites legal action. To do a car insurance policy renewal, you can follow these steps:
- Step 1: Go to the insurance provider’s website.
- Step 2: Head to the “Renewal” section.
- Step 3: Enter the policy number or registered mobile number to get the existing policy details.
- Step 4: Verify the vehicle registration number, chassis number, and other things in the existing policy.
- Step 5: Add or remove the add-ons as per the requirement.
- Step 6: Make a payment for the car policy renewal price using a preferred mode.
- Step 7: Upon confirmation, a renewed car insurance policy will be sent via email address.
Conclusion
Car insurance policy not only helps in mitigating financial losses in unforeseen situations but also helps in complying with the law. That’s why it is essential to compare, purchase and renew a car insurance plan on time.