Could you tell me when you last paid your CAR Insurance ? You might not remember the date / month. Yes it might be, due to a lot of workload you bear in your busy life. But Check-it-out now, so that it would not create financial hazards and other consequences that come along.
If you need direct help , the PLENTYSURE Team is always ready to help you (www.plentysure.com). However there are very important Tips I’m going to share with you, which will help you in matching your budget and the exact policy you require.
Policy Plan
Either you can choose a third party policy or a comprehensive plan during your policy renewal. Depending on your needs you can choose the best. A third party policy is lighter on the budget, while it offers lesser coverage. On the other hand, comprehensive plans offer a better coverage including your own car damage coverage on a slightly higher premium. Here you are the decision maker of your own, that which suits you better.
Add-ons
It is optional for you to choose Add-ons for your policy or not. But it is wise to look into the different offers in the add-ons just by paying a little extra. Some of the popular add-ons such as Zero depreciation cover, Invoice protection cover, Engine protect cover, NCB cover etc.
No-Claim Bonus
In case if you do not claim every year (maximum five year policy), you are entitled to get discounts under this benefit It starts with 20% from the first year and up to 50% for the fifth year.
Deductibles
Policyholder must pay the deductible amount (minimum amount) at the time of claim. Insurers usually offer a mandatory deductible and a voluntary deductible. It ensures that false or fake claims aren’t as frequent as they used to be.
Check Network of Cashless Garages
Here one advice to you that before buying the policy you should collect the list of cashless garages near to your location. And you can even check about the facility near your garages.
Adequate IDV
Insurance term IDV means the Insured Declared Value of a car , which is the most important factor that can affect your policy. It is advisable to get a policy with the right IDV to enjoy the policy in future.
Claim History
You can take a decision whether you should buy the policy or not from the claim history of the insurance company. You can do online research about the company and their claim settlement etc.
Compare Online Quotes
You can ask for policy quotes from the Insurance company before deciding to buy the policy. Find which is the cheaper policy providing your required benefits.
Avoid Lapses
Lapses in your policy renewal might be expensive as NCB would lapse and a survey needs to be done. Other than this it is mandatory to drive with valid insurance.
Not having a valid policy will hurt your finances very badly in case of accident. It is advisable always to have a valid policy and renew on time. Hope you find this useful when you purchase your car insurance whether online or offline.
NB: Any help on Car insurance :- Just contact our team we are always there to help you. Team PLENTYSURE. Just click the link & buy your liked insurance easily https://agents.ethoslife.com/invite/d902e
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When you did your last Car Insurance ? Do Comment.
Thank You,
Team PLENTYSURE
Jyoti Prakash Nayak, B.Sc MBA BA CFP
CERTIFIED FINANCIAL PLANNER & FINANCIAL WRITER
E: moneygrains.invest@gmail.com / WhatsApp : +91 8792238909
