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Know Which Is the Best Car Insurance for You?


For every car plying on the roads of India, having car insurance is mandatory as per the Motor Vehicle Act, 1961. The minimum that has to be purchased is third party insurance which has to be valid throughout the period that the vehicle is operated on Indian roads. If authorities detect a failure in compliance, the car owner will be subjected to heavy penalties.

With valid vehicle insurance in place, it eliminates any possible opportunities of legal liabilities that may arise out of misadventure to any involved third parties.

If you have recently purchased a car, then you are possibly wondering which is the best insurance coverage that will suit your requirements? Look at these key points that will help you figure that out.

Smartly Select your Insurance Policy

It is recommended that vehicle owners opt for a comprehensive car insurance policy. However, the key lies in selecting the plan smartly. As a purchaser, you need to have a clear understanding of the coverage and the amenities that you expect the policy to cover.

Whether it is a cheap insurance policy or an all-encompassing coverage, you need to weigh your options carefully. Keep your budget in mind and ensure that thoroughly compare care insurance policies, read the terms and conditions and get the best insurance deal.

Cheap is not Always the Best

While you may aim to buy the best car insurance, most people equate ‘best’ with ‘cheap’. This may lead you to ignore a more comprehensive car insurance policy that can offer you with better coverage. Being underinsured can be a risk especially if there is a mishap and your policy does not cover all aspects of third party liability. In the end, you may actually spend more than you anticipated. You definitely want a policy that strikes a perfect balance between your insurance requirements, coverage offered by your insurance plan and your budget. With careful scrutiny of your options, you will get the best car insurance deal.

Market Reputation of the Insurer is Important

Come up with a list of general insurance companies that are offering auto insurance policies. You may have several names of the list. Shortlist the plans and the insurers that you like and check on their market reputation. The elements to cover under your market research should include the company's financial status, its claim settlement ratio, etc.

Do Not Forget About the Deductibles

You pay a lesser premium if you have a higher deductible quotient in your insurance policy. On the other hand, if your car insurance has a high premium, then you will have fewer deductibles in your policy. Technically speaking, by selecting a plan that has higher deductibles just so that you can save on premiums is actually not a smart decision at all. If there happens to misfortune in the future, you may end up spending a lot more from your pocket directly as your claim with the insurer will not cover all aspects of the circumstance.

Seek Guidance from An Insurance Agent

You are not an expert on insurance policies and hence may require clarity to understand the car insurance policy better. Most insurance companies have their dedicated agents who can help out. Bharti AXA GI has a team of professional which will provide you detailed information of car insurance product.

To crack the best insurance deal, you need to have access to reliable research and information to evaluate which policy best suits your needs.

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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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