Car insurance is a mandatory requirement as per the Motor Vehicles Act, 1988. It is strongly advisable not to take your car out with an expired insurance. So, if your car insurance has actually expired you can renew it online in just a few steps.
In today’s day and age with the help of technology, we have car insurance premium calculator online that will calculate our car insurance premium amount in minutes. The information that you would need to enter is the name of the owner, contact details and full address, followed by standard details about the car like the car’s model and make, fuel type, manufacturing year, and registration date. The car insurance premium calculator is available on the website of all major car insurance companies. To make better use of the online platform, go to an insurance aggregator website like Coverfox.com that will not only have the car insurance premium calculator facility but will also show your car insurance quotes from different car insurance companies. You can compare and choose the best car insurance coverage as per your individual requirements.
The Ultimate Guide to Car Insurance
Car insurance cover should never be purchased just out of obligation, as without the right coverage, accidents can put you and your family in financial misery. Consider the following points below, which will act as an ultimate guide during your car insurance purchase.
Good Comprehensive Coverage
A car is an expensive asset to possess and you put a good amount of money to buy one. Many people take a bank loan to purchase a car. Maintaining a car is also expensive: you need to get it serviced regularly and put effort and money to keep it in a good condition. Imagine getting into an accident in which your car suffers damage and you will have to go through sudden expenditure in repairing your car. If you have comprehensive car insurance coverage, it will take care of that repairing cost and lower your financial burden. If your car suffers a total loss or gets stolen, only a comprehensive insurance coverage will help you. Third party insurance will only bear the liability of other party involved in the accident and will offer no coverage towards damage for your own car. So be wise and get a good comprehensive car insurance coverage.
Add-on covers add good value to your car insurance protection. Car insurance companies offer innovative add-on covers like free key replacement, road side assistance, and courtesy car during the period your own car gets repaired in the garage, etc. Add-on covers like zero depreciation and engine cover are considered to be very valuable as they can save you lots of money. So choose the add-ons depending on your requirements. Don’t buy add-on cover if you feel it won’t come in use for you as it will unnecessarily increase the premium amount of your car insurance.
Insured Declared Value
IDV or Insured Declared Value is an important part of your comprehensive car insurance policy. It is the maximum amount the insurer is liable to pay you in the event of total loss of your car. The IDV has a direct impact on your car insurance premium. Ensure you get the right IDV of your car in your comprehensive car insurance policy.
The voluntary deductible is the share of repair amount you agree to pay from your own pocket during a car insurance claim. The higher the deductible you choose, the more discount you will get on your car insurance premium. Ensure you choose the right deductible amount which you can afford to pay during an actual claim. Being greedy now on discount can make you suffer later during the claim.
No Claim Bonus
No Claim Bonus is the reward you get in the form of a premium discount from the car insurance company. No Claim Bonus ranges from 20% to 50%. The percentage of amount increases for every consecutive no claim year on your car insurance. You get the discount of NCB during car insurance renewal. Ensure you mention the correct details of NCB during renewal and enjoy getting rewarded through discounted premium.
Stop Wasting Time and Buy Car Insurance
If your car insurance has expired, then you should not waste any more time and get it renewed ASAP. The reason being, once your car insurance gets expired, you stand a chance to lose your accumulated NCB and also have to pay penalty if you don’t renew your car insurance on time. You will also need to go through a verification process for renewal if your existing car insurance cover has expired. Why let yourself go through also these inconveniences when you can get your car insurance cover in just a few steps online? So follow the above mentioned online process and get your car insurance in minutes.