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Things You Should Know About Your Car Insurance

If you own a vehicle, you need third party car insurance. It is mandatory as the law in India stipulate it. This insurance gives you peace of mind knowing that your policy will cover a pedestrian, passengers of another vehicle and property damage should your vehicle be involved in an accident. However, if you are looking to cover your property and life, you should opt for comprehensive car insurance. This insurance policy also covers third-party.



Here are a few things that you should know about your car insurance:
  • If you do not make any claim in a year, you will be eligible for No Claim Bonus. The bonus keeps increasing for each year that you do not make a claim. You can use the bonus to get a discount on your car insurance premium.
  • There is a maximum limit to No Claim Bonus. It cannot exceed 50% of the premium amount.
  • Did you know that it is possible to transfer the No Claim Bonus and other insurance benefits from one insurance provider to another, one car to another car and from one policy to another policy?
  • A zero depreciation cover allows you to settle your car insurance claim without taking into consideration the depreciation. Remember, the value of your car decreases each passing year and with zero depreciation cover, you will not have any out of pocket expense. However, be prepared to pay a higher premium compared to regular car policies.
  • You can get a separate car insurance policy for accessories in your car. This policy has higher premiums. You can even get a policy to insure your car engine so that you are covered if the engine gets damaged in an accident.
  • If you are not self-driving your car, it is best to get insurance for the driver. Thankfully, comprehensive car insurance covers this without any hassle.

These are few things that you should know about car insurance.

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Comments

  1. Unknown27 March 2019 at 14:38

    Hi,

    I have gone through your blog. Thank you for sharing your blog with us. It is very informative. We at Policy21st also give you a lot of benefits with the Car Insurance such as the third party liability, engine cover, zero depreciation cover along with the coverage against the personal accidents, damages, accidents due to man made or natural reasons etc.

    ReplyDelete

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