Car Insurance Renewal Is No More A Stress

Gone are the days when you had to run from pillar to post to buy or renew your vehicle insurance. Now, especially since the government has made it mandatory for a vehicle owner to purchase insurance, at least a third-party cover if not a comprehensive one, and since the proliferation of insurance companies, and the widespread use of the internet, renewing your vehicle insurance is no longer a stressful job, but is just a few clicks away. Even if you wish to renew your policy offline, the insurance providers are more than willing to give you doorstep service. All this means that you no longer have a valid excuse to avoid purchasing or renewing your vehicle insurance. However, to have a good grasp of the situation, you need know a few things, as listed below, which will make your task even less stressful:

  • Do thorough research: Compare several plans online to shortlist the one that best your needs best. Take into account such things as cost of premium, what is the company‚Äôs claim settlement ratio, add-on benefits, etc.
  • Claims: To be able to really rest in peace, you have to know the reputation of the company when it comes to settlement of claims.
  • Mandatory insurance: You need to be aware that the minimum third-party insurance is mandatory in India, and if your vehicle dealer does not offer it, you will have to purchase it on your own.
  • No-claims bonus: Understand the terms and conditions of the no-claims bonus in your vehicle insurance policy.
  • Understand the nitty-gritties of the vehicle insurance: To be really stress-free, you must understand the policy document thoroughly, for which you will have to read it properly, fine print and all.
  • Comprehensive cover is better: Third party insurance will only take care of damages to the third party, but comprehensive insurance will also protect you and your vehicle.
  • Add-ons for specific situations: Know about the add-ons that insurance companies offer so that you can select the ones that best cover your risk profile.
  • Re-evaluate your cover at the time of renewal: Doing this will keep you up to speed not only on the condition of your vehicle, but also give you a chance to rejig your policy as per changed circumstances.
  • Personal accident is a must: Ensure that your vehicle insurance policy provides coverage for personal accident as well.
  • Find out if the company has cashless claims facility: This facility can take a huge load off your head if and when you do get involved in an accident, as you can simply take your vehicle to a cashless garage and get it repaired without having to pay anything at all.
  • Customer service: Last but not least is knowing what kind of customer service your insurance company provides, because the better the customer service the lesser will be your stress level.