Do you need help with what to look for when purchasing or renewing car insurance? Here is a thorough list of considerations to help you make a decision.
-
Recognise The Requirements
It’s acceptable if you are not an expert in risk assessment. You can still assess fundamental risks, though, right? For instance, you should consider issues like whether your area floods often, whether there have recently been any car thefts, and whether your usual route is accident-free.
-
Think About The Brand
Even if you don’t care much about brands, you must have surely thought about them when you bought the four-wheeler. Similar to that, give the insurer’s brand some thought as well for quality and dependency.
-
Range Of The Cover
You can purchase a Bajaj Allianz car insurance policy to save money in case of accidents and comply with legal requirements, or you can buy it to tick the required insurance box. In most cases, the better choice is the second. When you purchase a Comprehensive Plan, you ensure car insurance coverage for the inclusions listed in the policy and compliance with the law. Claims are subject to terms and conditions set forth under motor insurance policy. ##
-
Add-On Covers
When purchasing add-on covers, you should use common sense. They could be considered supplemental covers that could be added to a Comprehensive Plan. Each add-on has a separate cost, which varies from insurer to insurer. So, when it comes to accessories, resist the urge to binge shopping. Only pick the ones that are significant to you and offer several car insurance benefits. *
-
Policy Terminology
Today’s insurers are committed to making insurance more straightforward. Regarding purchasing or how to renew car insurance online, policy seekers and policyholders are more confident thanks to responsive websites, friendly apps, and helpful executives. However, you should read the fine print carefully before purchasing a policy or filing a claim.
-
Cashless Facility
The term “cashless” in insurance refers to the absence of an upfront payment requirement to resolve claims. Consider the INR 10,000 repair bill for your damaged car as an example. After making all the necessary calculations, the insurer offers a settlement of INR 8,000. In this case, the insurer may pay the network garage INR 8000, and you will be responsible for the remaining INR 2000. Due to a tie-up and the network network garage’s reputation for facilitating Cashless Claim Settlement, the insurer can pay the network garage directly. As a result, an insurer with an extensive network of garages can effectively provide a cashless facility.
-
Reviews Of The Claim Settlement Ratio
The Claim Settlement Ratio of insurance companies is periodically published on the website of the Insurance Regulatory and Development Authority of India. This is the proportion between the number of claims filed and ultimately resolved. It can be a valuable benchmark for determining the insurer’s capacity to resolve claims. However, it shouldn’t be the only rule since false claims and a lack of supporting evidence may reduce the number of settled claims. *
Subscribe to Bajaj Allianz General Insurance YouTube Channel here!
*Standard T&C Apply
##All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
