Insurance for newbies might be a bewildering experience. With complex jargons and perplexing terms, it is an overwhelming experience. But it isn’t as confusing as it seems. If understood in parts, insurance is fairly a simple concept.
Some individuals consider car insurance to be an investment, but it is not actually one. It is more of a ‘save-your-investment’ investment and hence it forms an integral part of your financial plan. It is based on the concept of risk-sharing for which you pay a price called the premium.
With the digital revolution across the nation, there is a drastic change in buying car insurance. No longer you need to wait for days to get approval for your application but now can get instant car insurance online
. The process is straightforward and has reduced the processing time to just a few minutes from the earlier times. Here are three such steps that will help you avail instant car insurance coverage.
#1 Perform strong research
To begin with, research should be your strongest point when it comes to availing an instant car insurance policy. Make sure to undertake comprehensive research about the available car insurance plans. Strong research when considering your insurance requirements will help you get adequate coverage for your policy.
#2 Go for affordable yet optimal premiums for your coverage requirements
When shortlisting an instant car insurance quote, remember that a higher premium doesn’t always mean the best policy for you. Selecting a policy that offers affordable coverage is equally important. For that, you must analyse your needs and then choose a policy coverage. Car insurance is no one-fits-all policy and thus, the coverage that suits your friend will not be necessarily suited for you. Different cars depending on their use will require different coverage - third-party or comprehensive.
#3 Avail an expert’s advice
Not always you need to manage things on your own. When purchasing a car insurance policy, the insurance company has helpline numbers to contact in case of any queries or concerns. You also have the option to chat with the insurer to understand or clarify certain technical terms while referring to the comprehensive list of commonly asked questions. This way, not only it is easier to seek help, but also get clarification on certain matters if required.
Which factors have an impact on car insurance quotes?
The premium for your car insurance is not based on a single factor, but a combination of many factors. View them below and proceed to compute your premiums on the instant car insurance calculator
Value of your car:
The instant car insurance quote is primarily based on the value of your car. The registration cost, additional fittings, and more. These factors combine to determine the IDV or insured declared value which is the approximate current value of your car.
Type of insurance:
Not all car insurance premiums are the same. Different types of car insurance
policies have varying premiums basis their coverage. You have the choice of selecting either a third-party insurance policy or a comprehensive one. As the name suggests, the third-party policy protects only against liabilities due to a third-party while a comprehensive policy includes own-damage cover too.
Add-ons are those features that help you enhance the scope of your instant car insurance policy. Some popular add-ons to consider are zero depreciation cover, NCB protection cover, 24X7 roadside assistance and more.
Lastly, your car’s claim history influences the premium. No claims during a policy year are rewarded by a no-claim bonus which reduces your premium.
Using the above car insurance steps, get the desired coverage at an affordable level while buying instant car insurance. Not only can you have a faster insurance application process, but also the mental peace of knowing your car is secured within a couple of minutes by an insurance cover.