How to Get the Best Car Insurance Cover

Quite recently, we came across a customer who was completely lost in the hectic scramble of picking a car insurance policy. Here’s what she wrote, “I was in the market for a car insurance policy. I took to my trusty search engine – Google, and started my search with the best car insurance vendors in my region.

Absolutely confident that it wouldn’t take me more than a few minutes to identify that perfect car insurance policy, I was in for a rude awakening! With thousands of vendors to choose from and dozens of policies per page, my eyes began to spin around in my head, dizzy from the complicated terms, the nearly limitless possibilities and the staggering prices!”

We understand how frustrating it can be to pick a car insurance policy with the ease of access that online policy buying has created, and even more so when vendors use complicated terms to stretch this already lengthy process. So in an effort to help out our customers, new and returning alike, we have compiled a handy guide on how to pick a car insurance policy most suited to you, and how to get the best possible price from the policy!

Car insurance policy coverage

Step 1: Compare!

In this age of ultra-fast internet, most of our shopping is done online. While this plethora of options can seem confusing, it is also a blessing in disguise. Online car insurance policy aggregators allow you to quickly compare prices, features and even customer reviews – to help you find the most appropriately priced plan within seconds!

Step 2: Past Record

Once you have shortlisted potential insurers, it’s time to conduct some due diligence. A car insurance policy usually holds a validity of 12 months. It is crucial for you to identify a reliable and customer friendly vendor because you’ll be stuck with them for a year! Browse through the car insurance policy vendor’s website, carefully reading reviews and feedback. Be sure to refer to the consumer complaint board as well, for information on any outstanding complaints.

In the unfortunate event that you get into an accident, you will be dealing with this vendor regarding your claim. So make sure you have all your bases covered before making a decision. HDFC Ergo car insurance is a great example of customer service done right. They offer a clause which lets you switch to a different car insurance policy mid-tenure, at the cost of a minimal percentage of your total annual premium!

Step 3: Surcharge Fees

A surcharge fee is a penalty fee that is attached to your insurance rate after an accident. Don’t be fooled by low premiums in a car insurance policy, as most of these low premium policies come with the caveat of an enormous surcharge fee latched onto your insurance rate, even for the most minor of accidents. Be sure to take surcharge fees into consideration before picking a vendor.

Step 4: Talk to the Garage

A car insurance policy is only as convenient as its claims process. By talking to the repair garage directly, you can form a good idea of how fast the claim resolution process is for your shortlisted vendor.

Step 5: Cover

Armed with a better understanding of your chosen car insurance policy vendor, you are now ready to answer the final question – which services do you really need? For example, do you really need off-road cover if you have no intention of leaving the city? Vendors such as Future Generali car insurance, offer incredible services, from zero depreciation rates to towing services and much more. Be sure to go through all the mentioned services and identify the ones that you really need.

Car repair form

Car Insurance Policy Discount Tips

1. Deductibles

You may have noticed your car insurance policy mention a deductible amount. This amount states how much you will pay out of pocket per each claim you make. Certain vendors such as Future Generali car insurance also refer to this as the ‘excess’ amount. The higher the deductible is, the lower your premium will be! So if you’re sure of your ability to drive safely, opt for a higher deductible (but one that you are comfortable paying).

2. No Claim Discount / Bonus

If no claims are made within the policy period; you become eligible for a no claim discount on your next car insurance policy. For example, in the HDFC Ergo car insurance policy, you are eligible for up to a 50% discount if no claims have been made in 6 continuous years. The discount is slab based and varies with the number of years without a claim.

3. Anti-Theft Device

Many car insurance policy vendors also offer discounts and financial benefits if you have an anti-theft device installed in your vehicle. Consider the example of the HDFC Ergo car insurance policy, which states that if you have an ARAI approved anti-theft device installed in your vehicle, you can avail a discount of 2.5 % on the OD Premium, for a maximum of Rs 500.

Good luck with your search for that perfect car insurance policy!