Why the Cheapest Car Insurance May Not Be the Best for Your Car
Looking for the cheapest car insurance? We all wish that buying car insurance was only based on the price. Life would be so much simpler. All you had to do was enter the details on the price comparison sites and zero in on the company that offers the least premium. Unfortunately, things are not that simple when searching for the cheapest car insurance that is also the best for your vehicle. While saving money in any way that we can is great, it is also important to understand the cheapest car insurance may not be the best for your car.
Finding the cheapest car insurance may ensure lower premium but does it provide adequate coverage? Our car is one of our most valuable assets. In case your car is involved in an accident and your insurance does not provide sufficient coverage you would need to shell out a lot of money from your own pocket.
Watch Out for the Cheapest Car insurance!
You Get What You Pay For
When you shop around for the best and cheapest car insurance, you compare different car insurance quotes. This is obviously the best thing to do. However, while comparing policies ensure that you are comparing like-for-like cover. Some policies may seem cheaper but when you make the claim, you realize that you may have not the same level of cover. Sometimes the cheapest car insurancepolicy may mean far lower coverage than you actually require.
Absence of Add-on Covers
Consider a scenario where your new car, insured with a basic policy, meets with an accident and you are stranded in a lonely stretch of road. At that point, would you not want the benefit of fuel assistance, taxi and accommodation benefits? Value-added features such as depreciation cover, coverage of electrical and non-electrical accessories, NCB retention, road side assistance and engine cover may add to your premium amount but in times of need you may be thankful that you opted for these covers. Cheap car insurance with basic coverage will not provide such useful add-on covers.
The Downside of High Deductible
Increasing your deductible can reduce your premiums. But should you really set your deductible that high? What would happen when you meet an accident and want to actually use the policy? If the repair costs are extensive then high deductible would mean you would have to pay a significant amount of money from your own pocket. It is always important to understand the pros and cons of high deductible while taking the motor insurance policy.
Check the Claim Process and Customer Service
Sometimes low cost can also mean a poor customer service. Even if you have to pay higher premium, you need to ensure that the car insurance provider provides good customer service. This is helpful when you need to enquire about any doubts about the policy or when you want to file a claim during stressful times. A good insurance provider should provide 24*7 telephonic service for claims support and other assistance, even on holidays. The claim settlement process should be simple and hassle free. Before choosing the car insurance, check their claim settlement process and their reviews. You can also talk it over from someone who has a policy with the same company. Car insurance is a serious investment for your car so compare policies properly and don't just fall for the lure of "cheap car insurance".
To learn more about our car insurance product and the benefits it offers, please click here!
Key benefits of car insurance
Our Car Insurance policy provides the following key benefits:
- Get your Car Insurance or Car Insurance Renewal in easy steps.
- Cashless claims at over 1500 preferred garages. Receive 75% on account payment when cashless facility is not available.
- Transfer up to 50% of your existing No Claim Bonus from any insurance provider.
- Avail of our 24x7 telephonic service for claims support and other assistance, even on holidays.
- Towing Facility in an event of a breakdown/accident.
- Instant Claims Assistance and SMS updates on your motor claim status through our 24x7 call-centers.
- Bajaj Allianz's preferred workshops give you access to hassle-free inspection and bring to you high service standards.