Car owners often neglect car insurance policies and most of them buy car insurance solely as a formality. Your car’s insurance is very important and should be well researched before your purchase. Renewing your car insurance without considering a few important things or with the wrong assistance can put you at major risk. Thus, before you renew your insurance policy, here are few important questions you need to ask.
- Is the excess negotiable?
Excess is the amount that has to be paid by the policy holder for the damages incurred from the accident. The insurance companies play their tricks of low premium by increasing the excess amount. If your excess is high, then your wallet is in grave danger but on the other hand, if you lower the excess, the premium amount will be increased. The best way to tackle this situation is to talk to your insurance agent or the agent assisting you online and see if there are chances of lowering the excess proportion or you can look for other insurance policies.
- Can I use a different workshop?
When you buy an insurance policy, it is important to know that most of the insurance companies offer full cover only if you get your car serviced from their authorized service centers. If you are not sure about the terms and condition of your insurance company, you should get the necessary clarifications done before renewal. Moreover, the service centers authorized by the insurance companies charge more than the normal amount for minimal work. Hence, the choice of workshop where your vehicle is sent is also important.
- Is there a way to lower the premium?
No matter which car you drive, be it among the high-end ones like Jeep, Mercedes-Benz, Audi, BMW, Volvo or among the affordable ones made by Honda, Skoda, Ford, Fiat, Nissan, Hyundai, Tata, Maruti Suzuki and Mahindra, paying a high premium always pinches the pocket. Most of the car companies lower the premium amount if the car has anti-theft or dashboard camera. However, if they have not changed it earlier, you can still request for lowering the premiums again. If they don’t lower the premium amount you can look for policies from other insurance providers that offer lower premiums.
- Does it have NCD?
Very few people know about the fact that insurance providers do reward good drivers. Their reward comes in the form of discount on insurance premium; this perk is called No Claim Discount. The companies do so when they are assured that the chances of accidents are very thin and no claims will be made during the insured tenure. However, there are some companies that sell NCD as an add-on on the insurance policy.
- Was the claim settlement easy?
There are few people who despite having the best driving skills manage to avail the insurance claim. However, most of the insurance companies don’t hand out sum assured so easily, they conduct a comprehensive inspection and get to the root cause of accident. Such inspections can take time which is not acceptable for everyone. There are some companies that offer quick payouts; you can consider these companies instead.
So before you renew you your car’s insurance policy, reconsider the decision by asking yourself the above questions. You can also refer to PLIndia-Motor Insurance to get more details on car insurance or you may contact us on insurance@plindia.com.
[erforms id=”763″]