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Questions to Ask before Buying a Car Insurance Policy

Did you know that there are dedicated online portals that carry out objective comparisons of car insurance policies, helping you to make an informed decision? And, comparing quotes and cover can actually result in savings of up to 55% on your premiums. Therefore, the best way to choose your vehicle insurance policy perhaps is to consider an online purchase that comprises of comparisons and thorough evaluation. It is quick, easy and cost effective too!

If you are buying car insurance for the very first time however, there could be some questions that you need answered first. Some of the most common ones have been discussed here for your benefit.

Questions You Need Answers to Before Buying a Car Insurance Policy

Before you make a final decision on which car insurance cover will be best suited to your needs, take a look at the answers to some commonly asked questions:

  • Is the cover note enough or do I need to procure the formal document immediately?
    The cover note of your car insurance policy would suffice for the first two months of buying the policy. However, after that, you would need the formal policy document for processing all claims. Your insurance is not valid if you do not have the formal policy document with you.
  • Who is the best source, an agent or a broker?
    Brokers are a great deal better than agents, who might have vested interests in suggesting certain policies to you. Brokers receive the same amount from insurers, irrespective of the type of insurance policies they sell. Therefore, their views are likely to be more objective and they are certainly well placed to suggest the best options for you. In one word, you can actually rely on them. However, remember to check their license numbers on the official portal of the IRDA.
  • Is the cashless facility good for me?
    Cashless facilities always come in handy. However, do not overestimate their value. If your vehicle insurance policy is a cashless one, it means that the providers have established tie ups with a range of garages and service centers. It would be important to check their network and see if the associations are of beneficial for you. For instance, if most of the service stations are far from home, such a cashless policy may not prove to be of much use.
  • Is additional personal insurance necessary?
    Yes, it is! It is a good idea to opt for insurance for the passengers as well as the driver, in order to be completely assured of total safety. In case of an unfortunate accident or mishap, such an insurance policy could prove to be very useful.

Along with opting for car insurance, consider safe driving at all times. Remember, your life is precious not only for you but for those who love you.

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