How to purchase a better motor insurance policy

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MOTOR INSURANCE POLICY
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How to purchase a better motor insurance policy
A motor insurance will cover the damages done to
third party property or health as well as damage
to your own car. Natural calamities like fire,
earthquake, cyclone or man-made riot incidence
might erupt anytime and you may never know the
amount of damage it can cause to your vehicle.
In the event of repairing your motor, it can
make a big hole in your pockets. Therefore, it's
important to own a suitable cover that will help
you arrange necessary finances during motor
repair, third party property damage or loss of
life. Also, there are rider options available
for a number of eventualities depreciation
cover, accident cover, emergency, road
assistance, cover for electrical accessories or
loss of personal belonging, etc.
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Although, rider are very helpful but they entail
higher premium. One must judiciously select
add-on features as per their need rather than
blindly purchasing as pushed by an agent.
Roadside assistance would be of help for the
elderly and women. Selecting your motor insurance
wisely will ensure that you dont have to end up
shelling out a higher premium for options which
you might never use. Here are basic tips to
consider while choosing motor insurance
premium Minimize modifications Any change to
the vehicle, beyond the standard specification,
will bound to increase the costs on premium. Such
as speaker modifications, car modifications,
fitting alloy wheelers or spoolers will increase
your premium as could any up gradation to the
engine. So, if you make some changes, it is
important to intimate the insurer else it will be
not covered by insurance.
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Enhance security Adding security equipment like
immobilizer, alarm approved by the Automobile
Research Association of India will help you bring
down the cost of premium amount varying as per
the insurer. Buy Online Online sites help you
compare motor insurance policy of different
companies under one umbrella. You can compare the
costs, benefits features, discounts, claim
settlement ratio, any inclusion exclusion, etc.
and then give a careful though on buying your
policy. Purchasing the policy online will make
your total premium costs 10 to 15 lower. There
is a number of aggregator websites which help you
carry out a quick and convenient comparison of
the policies and make a judicious selection of
it. Purchasing the policy online could make your
total premium cost 10-15 lower.
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No Claim In case you drive safely with no
casualties in any given year, it will entitle you
to discount on the premium in the next year. This
accumulation will help you bring down the
discount on premium to up to 50. One should
avoid making a small claim if the repair amount
is less. It is advisable to compare the repair
cost with the saving on account of no-claim bonus
and then decide accordingly. Share right
information Sharing personal details like age,
occupation, any member in car association,
driving records, can help you get some discount
on motor insurance premium costs of up to 10-15
as these factors will determine the risk profile.
Thus, a premium for a responsible driver would be
lower compared to youngsters who might opt
reckless driving ways. Certain insurers offer
discounts for sharing such information.
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