Car insurance: Avoid these common mistakes
Never buy a car insurance policy without comparing prices, benefits, claim settlement ratio with other policies in the market
Car insurance is one of the important documents for every car owner in India. As per the Motor Vehicles Act, a valid car insurance is a mandatory requirement for driving a car at any public place in the country. Take a look at the some of the common mistakes to avoid when buying car insurance policy. Price is a most important criteria while buying a car insurance policy. Most of the people search for low-cost car insurance policy. But these policies also offer minimum cover in case of an accident. So, it is important to look for a policy that has adequate cover to get the maximum benefit.
Offline buying
Many people think that buying car insurance offline will give them a better discount than online. It is wrong. According to experts, insurers are encouraging people to buy policies online. So, they offer good discounts for online buying.
Choosing small deductibles
To save money, many people select small deductibles in the policy. But in reality, car insurance with higher deductibles can prove to be more cost-effective in the long run.
Hide details
A large number of buyers hide vital details about their vehicle while buying car insurance. This may seem convenient. But is equally painful at the time of claim filing.
Buying without comparison
Most people do not compare different policies before buying a car insurance. Never buy a car insurance policy without comparing prices, benefits, claim settlement ratio with other policies in the market.