Buying car insurance online can be a little scary for the first time, especially if you are unfamiliar with the process. Making mistakes is common and can lead to immediate problems, such as claim denials or inadequate coverage. Here is a complete guide to avoid mistakes when buying car insurance online.
How to Buy Car Insurance Online Without Mistakes
Step 1: Enter your vehicle details correctly
First of all it is very important to enter your vehicle details correctly. This includes vehicle model, engine capacity (CC), and manufacturing details. If this information is not correct, there may be issues with premiums and coverage. Entering incorrect information may cause problems in the claim process.
Step 2: Verify IDV (Insured Declared Value).
IDV is the maximum amount that the insurance company will pay in case your vehicle is stolen or a total loss. It is determined by the insurance company according to the current market value of the vehicle. Determining the IDV correctly is very important, as it affects the premium. Taking a lower IDV may reduce the premium, but may not provide adequate compensation in case of total loss.
Step 3: Verify your No Claim Bonus (NCB).
NCB is a discount you get for not making any claims in the previous policy period. It is very important to enter the correct NCB percentage while purchasing a new policy. Providing incorrect NCB information may result in increased premium or cancellation of claim. Transfer NCB from previous policy properly.
Step 4: Select the appropriate add-on
Add-ons are additional coverage that you can include in your policy. Some popular add-ons are:
Zero Depreciation: Covers the full cost of replacing parts, not subject to depreciation.
Engine Protect: Covers engine damage, such as water ingress.
Return to Invoice (RTI): Covers the difference between the vehicle’s invoice value and its depreciated value in case of total loss.
Choose add-ons according to your needs and budget. In certain situations they can provide valuable protection.
Step 5: Include required coverage options
In addition to basic policies and add-ons, consider essential coverage options such as:
Personal Accident Cover: Provides financial protection in case of an accident.
Legal Responsibilities for Paid Drivers: Covers legal liabilities towards paid drivers.
Passenger Cover: Provides cover to passengers in case of accident.
Final Step: Information Verification and Payment
Before making the payment, re-verify all the information you have entered. Inaccurate information can lead to claim problems or policy cancellation. If in doubt, seek help from customer service. If there is a problem during payment, be careful to avoid overpayment and contact customer service.
If you have faced any problem while buying car insurance online, then let me know in the comments, I will try to solve it.Thank you!
