5 Mistakes To Avoid When Buying A Motor Insurance Plan!

Stop, do not go the traditional insurance agent way, go for the path that promises to help you choose the best motor insurance plan and save some money too. If you are a proud owner of a vehicle, comprehend one simple fact, a good insurance cover will ensure that all the risks are covered comprehensively, allowing you to enjoy a smooth and safe ride.   

Selecting the right auto insurance policy is the primary step towards safeguarding the rider/vehicle owner towards any fiscal losses in case a damage or liability occurs. Yes, the core purpose behind buying a car insurance plan is to ensure that the car owner does not end up emptying the pocket if any damage to the vehicle or even third party occurs. Looking at this it becomes clear that you do not need any insurance policy; you need the best one that covers your financial interests from all perspectives putting you in a safe place. 

Planning To Buy An Auto Insurance- Please Do Your Homework Right

When it comes to buying a car insurance plan the most common mistake is settling in for any random plan suggested by the insurance agent. Please do not do this, act smart, there are more than enough options in the offering, all you need to do is chalk out the plan features and then shortlist the best possible plan options. 

There are two major types of motor insurance plans, comprehensive and third-party, depending on who rides the vehicle, how much kilometers are traveled each day, cost of the vehicle, and most importantly the cost of the cover, you can easily make the final pick. Do not act in haste, try and compare at least 2-3 options and then settle for the one that is light on the pockets and do not forget looking into the deals and discounts.

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Common Mistakes To Avoid When Buying A Motor Insurance Plan

Once you are clear with the purpose of buying a good auto insurance plan, do your calculations as this will help choose a plan that suits the budget. Always work with a registered association whose insurance cover gets entertained by the concerned authorities, if god forbids damage occurs. 

Also, keep one thing in mind, those add-on riders do not always serve a purpose, if you find a car insurance plan that stands customizable with legit add-ons that are functional too, go in for that plan without any second thoughts. Here are few mistakes that you need to avoid when settling in for a good auto insurance policy.

  1. Not Comparing The Options – As stated, there are enough options in the category and it is your duty to thoroughly compare these with required feature set in the head. Comparison here is the key to settle in for a car insurance plan that provides adequate coverage covering all sorts of damages.

  2. Choosing Random Riders: Undoubtedly, those riders and add-ons might look as required ones at the façade but when you go deep down reading the preconditions you will know that not many of these serve a purpose. Please do not keep on adding riders to the auto insurance cover as this will drain out a lot of money, learn about the ones who really need and get only those added.
  3. Renewing The Car Insurance Policy After Expiry: The most common mistake committed by car owners is renewing the policy after expiry, this restricts them from getting access to few benefits that would have else been accessible. Moreover, running a vehicle with an insurance policy stands illegal and this might lead to severe legal complications, hence getting the insurance cover renewed before policy terminates stands compulsive.

  4. Not Considering Those Voluntary Deductibles: Another common mistake is not considering these deductibles, it is to be learnt that these voluntary deductions might help to grab lower premium. Not going in for such deductions will end up in a low claim pay out at the time of claim settlement.
  5. Not Reading And Understanding The Policy Terms: A motor insurance contains several terms and conditions that stand applicable for stated conditions, it is the duty of the car owner to read these in detail. This will provide a basic idea about IDV, claim conditions and much more.

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These days, when we have enough online platforms that sell motor insurance covers such as policy21st, buying an auto insurance cover offline would be another big mistake. These online sites have best motor insurance plans and even allow clients to easily compare the options allowing them to finally settle in for the one that meets the requirements and budget both.

Cheat Codes To Choose The Best Auto Insurance Plan

Always make sure that you get the auto insurance renewed before the policy lapses as this will allow access to several offers in the form of deals, discounts and customized add-ons. Do not hide any information; it is compulsory to furnish correct, latest and factual details about the vehicle so that the best auto insurance plan could be found.

Another important fact that needs to be stated here is that one must not shy away from getting complete details of the car insurance plan as it is an ethical right. Getting best coverage for the vehicle you own is your responsibility and for this you need to learn about the importance of car insurance and the required riders.

Few simple cheat codes that will help choose the best AUTO INSURANCE plan are:

  • Go in for a thorough comparison, do not just compare the policies on the basis of premium, and check in for the features too.
  • Check out for the claim settlement process; make sure that you choose a cover that provides quick and easy settlement with no delays.
  • Talk with the customer support staff if there are any doubts as this will ensure that you make a smart choice at the end.

Lastly, go with an agency that is responsive and client-centric as this places you in a safe spot in case damage to the vehicle occurs. 

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Ask us anything, We would love to answer!