Buying a car is now very easy. All you need to do is click a few buttons and you have the nearest showroom calling you for appointment to buy a car. But, you definitely need these tips to go ahead with the car insurance.
- Do a good research: Find out which companies are giving you the best offers. There are a few companies that roll out offers during the festive season. Try making the most of such deals which suit your needs. This is the first important step to get the maximum value from your investment.
- Know what you exactly need: Select a plan that gives you the best cover, i.e., the amount of premium you want to pay for auto insurance and the cover that it gives you for that amount. Know the net worth, your outstanding loan amount, etc., so that you pay only for what you need.
- Negotiate and know the market: Take quotes from at least 5 competitors. This will give you an idea of the rate that is prevailing in the market and who is giving you the best price.
- Read them well: Your policy may be a 15-page long document, but you must read it well before signing so that you know what all is covered under your policy. Also, the policy is a legal contract that points out the clauses and situations under which you can be paid for a claim. Review your document to know you have received what you paid for. In case of doubts, ask your agents and insurance company before signing.
- Payment: There are various kinds of payment schemes that insurance companies offer. There are a few companies that give you discounts on the premium paid in case you make payments upfront. Setup recurring payments from your bank account so that you don’t miss out on dates of payment.
- All set to hit the road: Now that you have taken care of the most important thing that you need to while buying a car, you are all set to hit the road and enjoy the rides in your car without having to worry about the damages or any mishaps that might happen. However, driving safe is always the motto!
Setting your motor insurance will need few details and the rate you are offered would depend on your driving history, the type of car you drive, anti -theft devices installed, and the kilometers you will drive in a year. There may be a company who is providing you the cheapest option but what is important is that you find out its claim settlement process. Ask people, maybe your friends or relatives. How was their processing? Were they happy? Find out about the satisfaction statistics and then go ahead with the policy. Else you might have a tough time making claims.
