5 Precious Tips To Help You Get Better At Car Insurance
If you own a car or if you are thinking of buying a car then you need to have an idea about the insurance of that car. In today's post, I will discuss what kind of car insurance you will buy.
Before buying car insurance we will discuss the details about car insurance.
You will get different types of phones when renewing car insurance. Different companies will come up with offers of their policy coverage.
Many will say that only our insurance company will give you a cashless facility.
Many will say that you will not get any claim if you change the insurer.
Many will say you will not get a claim if you do not renew the insurance from the dealer. Many such questions will confuse you.
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However, many such questions and confusions you get out of your head. Be aware, there is no problem whether you buy your car insurance from a public company or a private company. It will not be a problem to get your insurance claim in the future. One more thing you need to be clear about is that you have to buy your car insurance policy online directly from the agent, broker, dealer, or any company of your choice.
But there are a few things to keep in mind when buying your car insurance policy.
First:
IDB
The first thing you will see is IDB. I.e. Insured Declared Value. This is basically the current market value of your car.
If the market value of your car seems low according to the premium of your policy, you can increase the IDB of your car by at least 10% at the time of renewal. IDB has a direct relationship with the premium on your insurance policy. If the amount of IDB is more then your premium will also increase accordingly.
Related post: GET CAR INSURANCE IN DUBAI
The older your car is, the lower the IDB of your car.
In this case, there is a rule for calculating IDB. The IDB of your car will be reduced by 5% for the next six months after buying the car according to the showroom price of your car.
If your car is between six months to one year old, your car's IDB will be reduced by 15%. IDB will be reduced by 20% for one to two years, 30% for two to three years, 40% for three to four years, and 50% for four to five years.
Since your car insurance premium depends on your car's IDB, you will not see your car's IDB less so you have to pay less for your car's premium. This is your loss in the future.
Second:
Access or deductible amount of your car insurance policy. If it is more, the amount of your premium will be reduced. At present access for a 1500 cc car is 1000 rupees. And if it is more than 1500 cc, the access is fixed at 2000 rupees.
Third:
Add-on cover:
This is a very important issue. With this, you can arrange different types of covers like Zero Depreciation Cover, Return to Invoice Cover, Engine Protection Cover, Consumable Cover, Quick Assistance Cover, Key Replacement Cover, NCV Cover, etc.
Keep in mind that if your car is new, you must take Zero Depreciation Cover and Return to Invoice.
Also, the road quality in our country is not very good, that is why you should take coverage for your car engine.
Fourth:
NCB i.e. No Claim Bonus:
If you do not make a claim within one year of taking your car insurance, you will get a discount for your premium. And thus your premium discount will continue to increase every year. You need to check if the NCB is mentioned while insuring.
Fifth:
Written quotations
When you do your car policy, you will see that your name, chassis number of your car, registration number, engine number, year of manufacturing, a model number are all mentioned properly.
Here are five key pointers in moving forward with your car insurance policy.
Conclusion:
When you are buying a car by investing your hard-earned money, if your car is damaged for any reason or if there is any damage to the third party due to the accident, then you have to raise that money to make up for the loss. That's why if you have your car insured, you can get the return of the money for the loss of your car on the one hand, as well as the amount of financial assistance for the loss of the third party. Therefore, as a car owner, you have to ensure a car on the one hand and it is your duty on the other hand.
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