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Avoid These Mistakes While Purchasing A Car Policy

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Some of the main factors that impede good decision making while purchasing an insurance policy include the following:

  • Lack of understanding of what to buy

This is the foremost factor that is likely to arise in the minds of those planning for purchasing a suitable policy. Due to fear or inadequate knowledge, one tends to fall prey to fraud or misguidance from a party. It is advisable to discuss with the agents/ insurance providers when buying car insurance. Also, look for a policy that covers aspects such as types of coverage and additional offers rather than focussing only on prices.

  • Policies with minimum coverage

Some people opt for policies that offer minimum coverage. This is indeed done with the cost factor of having the lowest premiums needed to be paid in their minds. The cheapest policy won’t necessarily be the right policy either to yourself or the third party in case of severe consequences. In such conditions, you will be affected or would have to bear the additional costs incurred for the damages caused to the vehicle of oneself or the third party. Always look for purchasing a policy with adequate covers. 

  • Forged details of Driving History
    Honesty is the best policy. Always be honest when providing details of your driving history/behaviors to save yourself from the surprises with the final costs at the end.
  • Failure to compare Prices/Companies
    Humans always tend to compare prices of their day to day commodities amongst different companies/brands. Why not apply the same technique with car insurance? One can carry research on a variety of prices and packages that an insurance company provides and filter it down to arrive at the most suitable offer.
  • Not informed of updating the Policy

People always tend to be comfortable living in their comfort zones. The same applies to car insurance renewal policies too. Policies need to be updated or changed with time. One can always be open minded to the options available in the car insurance world. Choosing an appropriate plan with a future outlook proves to be more effective in the long run.

  • Failing to check online Reviews

 Technology is an indispensable part of our lives. Things are easily accessible on the internet, and there is a provision for the reviews/ ratings of the customer who have used consumed the product or gained services. The same applies to insurance policies nowadays. Based on the customer ratings that serve as a valuable asset would be an excellent aid while choosing the best policy from the market.

  • Lack of trust in online purchase of insurance

 There is a misconception in the minds of people that performing any business transaction online ends up in frauds or ending up getting duped. As online shopping is a popular and convenient option in this modern age, one can opt for purchasing an insurance policy online with basic research conducted before purchase.

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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.

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