In the current era, going digital for certain things is one of the best ways. Be it your car insurance or going for a home loan, you are just a few taps away. Since the evolution of the Internet and then smartphones, a lot around us has changed.
It is a well-known fact that getting behind your dream wheel takes a lot of hard work and persistence. Now, it hardly matters which car you buy. Protecting it should always be your number one priority. It is vital to take all precautions to guarantee its safety and security.
Car insurance online or offline, is necessary to protect your precious car. However, remember that its cost varies for every driver depending on their state, their choice of insurance company, and their coverage type.
What is car insurance?
It is an agreement between an insurance company and a car owner wherein the car owner will pay premiums, and the company covers loss or damage caused to the vehicle.
As per the Government of India, it is mandatory regardless of whether it is a personal or commercial vehicle. This is because it fulfils the vehicle owner’s legal liability arising from bodily injury, loss or damage caused to any third party or property.
What are the different types?
Third-party liability insurance cover
It is a type of policy under which the insurance company offers cover for the insured against legal liabilities that arise due to the loss or damage caused by them to a third person’s body or their property.
Comprehensive insurance cover
It offers total protection against damages sustained by your car due to unforeseen accidents or as a result of other incidents such as natural or manmade risks.
What are the top three tips to get the best car insurance online?
1. Don’t rush
Not only this type of insurance but if you are planning to purchase any insurance, never rush. This is because it is necessary first to read the situations under which you can raise a claim and under which you can’t. Further, once you receive the fine print, it is important to go through all the terms and conditions. Well, it is a fact that we often tend to ignore the terms and conditions, but it is essential to go through them.
2. Right IDV
The Insured Declared Value (IDV) is your car’s approximate market value, and it forms the base for deciding the cost of the policy. Therefore, setting it right is very important as you don’t want to set its lower value which might leave you underinsured.
Knowing your necessity here is very important. For example, how often do you drive? Where do you often park your car? It is essential to keep in mind your daily needs with respect to your vehicle.
How to buy car insurance online from your smartphone?
For the better understanding of all the readers, I’ll share my personal experience here.
Now, I’ve been using the Bajaj Finserv application on my smartphone for over a year. I do all kinds of recharges and even pay my electricity bill. Recently, when I purchased my new car, one of my friends suggested I go for car insurance via this app.
- Download the Bajaj Finserv application.
- Sign up with your personal details
- On the homepage, you’ll see Insurance Bazaar section.
- Tap on Car
- Enter your vehicle registration number and city pin code
- Tap on View Prices
- Choose the best that meets your requirement.