How to choose the right motor insurance plan that suits your requirements

Insurance is a very sensitive topic and many people avoid having a discussion about their insurance policies as it can get too personal.

A common myth that Insurance (whether it is health insurance, two-wheeler insurance, four-wheeler insurance, etc.) is mostly associated with accidents or misfortunes. In fact, discussion about this topic with people who have knowledge about it can help in making an informed decision while choosing any kind of insurance.

You work hard to build assets in life so you should be extra careful to protect them via insurance. There are many general insurance companies in India and they target customers through print media, digital media, TV media, etc.

With insurance companies luring customers with different offers, customers should choose an insurance provider that has customer friendly policies, swift claim settlement process, and timely customer support (offline & online).

It is important that you insure or protect your prized possessions; whether it is your home, vehicle, etc. Just like you protect your jewelry by putting them in safe deposit lockers, you should protect your car by choosing the best car insurance policy.

Why choose motor insurance?

We already discussed about top-level protection that car insurance policy can add more value to your car. You spend your hard-earned money to buy your dream car, so it is your responsibility to keep it protected via motor insurance.

There are different types of motor insurance or car insurance policies and the premium you pay depends on the kind of coverage that the policy offers.

Did you know that car theft is a growing epidemic in India and as more & more aspiring Indians own car, the number of thefts would increase at a rapid scale. Out of 22,000 vehicles that were stolen in the year 2014, only 2,322 were recovered.

Nowadays, there is a rise in the number of cases where car emblems & hood ornaments are stolen, hence you should think wise when opting for a motor insurance policy.

Some of the major benefits of motor insurance are

  • Loss or Damage protection
  • Personal accident cover
  • Liability of third parties, etc.

Nowadays leading insurance providers have the provision of providing support via technological mediums like chatbots, mobile apps, Artificial Intelligence (AI) & Machine Learning (ML) based solutions, etc.

Categories & add-on cover in car insurance

Some of the broad categories of motor insurance policies are below:

  • Liability insurance (mandatory car insurance policy)
  • Collision Coverage (covers the damage done to your vehicle in case it collides with another vehicle)
  • Comprehensive coverage
  • Engine protector coverage (essential for someone who drives vehicles in water-logged areas, terrain areas, etc.)
  • NCB (No claim bonus) protector, etc.

Whether you own a luxurious car or a basic sedan/SUV, you should choose from different add-on covers that customer-centric general insurance companies offer. Some of the popular options are below:

Nil depreciation cover – This plan has your vehicle covered under all kind of situations since it provides complete coverage for car insurance in case of untoward incident like accidents. This plan offers 100% insurance coverage on rubber, fiber, and metal parts. This plan is suited for newbie drivers and owners of luxury cars.

Tyre cover – Damage to tyres & tubes are not only covered in case the vehicle has met with an accident but it also keeps your tyres protected in circumstances where damage is caused due to impact cuts, bursts, etc.

Apart from these two add-ons, there are a number of options available for customers – Key replacement protector, Loss of baggage cover, Spare car clause, etc. and a majority of these options can be found in motor insurance policies provided by leading & trusted insurance companies in India.

Before choosing the add-ons, we recommend that you have a brief discussion with an expert in the domain of insurance so that he can guide you through the whole process.

it is equally important that you spend good amount of time in researching for the best motor insurance plan that can suit your budget & requirements.

How to choose the right motor insurance plan that suits your requirements

Set your categories menu in Header builder -> Mobile -> Mobile menu element -> Show/Hide -> Choose menu

Top Stories In Your Inbox

Get Our Latest updates and startup Guides in Inbox every Week. Subscribe to our weekly Newsletter Now,

Free SEO Audit for your website

Please share the information below to get a free SEO Audit for your website.