Once you buy your dream car, you must safeguard it from any harm. Having car insurance is the only way to do that. If you get in to an accident, your car insurance policy will pay for the losses like damage to your car, the other party’s car or property, and the injured person’s medical bills.
You must have an insurance policy that covers accidental damages to your own vehicle plus any other damage occurring from unpredictable weather such as from a hailstorm, floods and more. It must also cover your car against theft and fire.
Understand the Various Car Insurance Policies
Third Party car insurance covers against damage from an accident to the other person’s vehicle or property but it won’t cover the damage to your own vehicle. Compulsory Third party Insurance protects you against injuries caused to someone else, resulting from an accident by you. As the name suggests, it is compulsory in all states but have a different process for registration in some states.
Third Party Fire and Theft Cover protects you against damage to your car against theft or fire. It also covers damage caused by your car to someone else’s property. Comprehensive Cover protects you against the expenditure of repairs to your car and property. It does not matter whether the damage is caused by you or someone else.
You can also opt for Additional Coverage options that have add-on benefits along with the standard cover which includes your choice of repairer, new car replacement and more.
Invest in the Appropriate Car Insurance
Most people spend a lot of time in researching before actually buying a car. In the same way it is important to do your research while buying car insurance. This will save you from paying huge amount as premiums for limited coverage. The multiple car insurance options available, make finding the right insurance product a challenge. Look for a company that has a great track record of claim settlement.
You must take the car insurance as per your budget as the insurance is a necessity and not luxury. Before finalizing a policy, read and understand the terms and conditions so that the purpose of buying a policy is met. The insurance company you choose must have a good network of repair shops in their list. Be aware of the market or agreed value of your car and your driving history.
You can shop for the most appropriate car insurance product on iSelect, a policy comparing platform. They have trained experts who compare policies of the insurance companies partnered with them. iSelect is not owned by any insurance company so they are completely unbiased with their comparisons. Their expert advice comes free of cost, as they are paid a commission by the company you choose to purchase from. The experts with the help of technology narrow down the best car insurance choice. This makes the whole policy buying process effortless as taking a decision becomes easy.
The right insurance policy will not only cover you against unexpected expenses but also take care of your dream car. Make the best use of iSelect and buy the most suitable car insurance policy.