Buying a car is an exhilarating experience. With globalisation opening its doors to car manufacturers, there are a many companies trying to eat a pie of the Indian car market. Among these various car brands, Maruti Suzuki has stood the test of time and has always been among the first few preference for many. Be it your first car or umpteenth, Maruti Suzuki is always on the list.
Maruti Suzuki has cars for the cost-conscious buyer as well as for those looking at the premium segment. Statista reports that this company has over 50% of the entire market share in the passenger vehicle segment. With that being said, it is no doubt among the preferred car manufacturers with its broad product line. Once you finalise your favourite Maruti Suzuki car, the next you need to decide upon is the four wheeler insurance
There are a plethora of insurance companies offering vehicle insurance for cars. It can often get confusing when selecting one. This article elaborates on the guide to select the right one for you.
Define your requirements
Before you start looking for a policy, it is crucial to know what coverage you need. This determination helps to know the type of policy you must buy – a comprehensive policy or a third party car insurance online
are the two alternatives to choose from. A third-party cover is the bare minimum requirement as per the Motor Vehicles Act. This policy protects against legal liabilities that may arise in the event of an accident injuring a third person or damage to their property. While this policy has limited coverage, a comprehensive plan is an optional upgrade to cover for own-damage alongside third-party liabilities. In addition, these plans are customisable helping you fine tune your insurance coverage. * Standard T&C Apply
Comparison of the policies
Once you have determined what coverage you need to safeguard your car, the next is to compare the myriad alternatives so that a suitable policy is selected. The basis of comparison includes the insured declared value, the policy features, the inclusions and exclusions, the deductibles and many more.
Once you have finalised your policy, the next step is to fine tune it to perfectly check-off all your requirements. This includes looking for add-on covers that enhance the value and coverage of your vehicle insurance
. Add-ons are additional features that are not included in your standard comprehensive plan and increase the scope of your policy. Among the various types of add-on covers, make sure to choose only the ones that significantly enhance your policy scope since they are optional features, they bump up the premiums too.
Know about the claim process
After finalising on the entire policy coverage, make sure to know the claim process in detail. This will entail you are familiar on how to go about if you need to make an insurance claim. The last thing you want is to have a policy with a complicated claim procedure to reimburse the cost of damages.
Know about the settlement ratio
Among the various specifics of your insurance plan and the company, it is essential to know some crucial aspects about the insurer like the claim-settlement ratio. This ratio indicates the claims settled in comparison to the applications received. Higher the ratio, higher is the chance of your claim getting sanctioned.
Familiarise the policy terms and conditions
While the premium can be a determinant in selecting a plan, the true essence of the policy lies in its terms and conditions. Clear and favourable conditions is only when you will be comfortable in opting a specific insurance cover.
These are some of the essential considerations to keep in mind when selecting a four-wheeler insurance policy. The above-mentioned tips can help you make a thorough and informed choice when it comes to selecting a policy. Remember insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.