6 Must Know Before Buying a Car Insurance Plan: by IFFCO Tokio

WHAT IS CAR Insurance

Driving a car is a real risk but one just cannot evade driving every day. Cars often get into accidents causing bodily injuries or property loss or there can even be damage or loss to the property of others. This is what Car Insurance is for. Car insurance is a financial protection against loss that might occur in case of an accident. An insurance policy comes in format of a contract between an individual and the insurance company.

6 Must Know Before Buying a Car Insurance Plan:

In an insurance agreement, the insured individual agrees to pay a premium to the insurance company in lieu of payment against any losses incurred as defined in the policy. Most policies include property coverage, liability as well as medical coverage. However, it is always wiser to be alert and informed about the kind of policy you’re signing up for; consider the following:

1. Type of Coverage2. Settlement of Claims3. No-Claim Bonus4. Cashless Option5. Quality of Customer Service6. Payment Options

1. Type of coverage

Depending on how you would like to customize your Car insurance policy and what your budget allows, look for apt coverage options -

• Liability Coverage for bodily injury and protection for personal property• Collision Coverage to pay for the damages to your car• Comprehensive Coverage that covers losses from vandalism, floods, fire, theft etc.• Medical Payments to pay for medical expenses of anyone hurt in an accident• Personal Injury Protection (PIP) that cover wider range of medical costs for you

2. Settlement of Claims

Claim is the payment made by the insurance company to the insured individual on the occurrence of one of the events specified in the contract.

Timely and easy settlement of a valid claim is the key function of an insurance company and you must enquire the claim settlement period, conditions and settlement history of the company before buying the insurance plan.

Steps for Claim Settlement: Intimation of Claim; Documentation; Submission of documents for Claim processing; Settlement of Claim

3. No-Claim Bonus

While prices tend to only upsurge, some car insurances offers a unique scheme which makes the premiums go down year by year.

Under the NCB, the insurer gives you no claims bonus (NCB) for every year that you drive without making a claim on your insurance. This then helps avail a discount on the cost of cover at the time of renewal.

Of all the means to cut cost on your insurance, collecting several years of NCB is possibly the most effective and actionable.

4. Cashless Option

Look for cashless insurance policy options that enable you to make claim settlements without the requirement of any lump sum money. Claims can be settled instantly in a cashless manner at authorized network garages.

Network garages refer to the insurance company tie-ups making it easy for customers to get emergency repairs done.

In a cashless claim, the garage makes the required repairs and the repair costs are sent to the insurer for settlement by the garage.

5. Quality of Customer Service

It is normally only after you have called that you realize the real customer service quality of your insurance company.

Although the price and coverage offered should be the primary considerations when shopping for car insurance, considering the quality of service that a company provides is also important to an extent.

Especially the claims-handling service of a company can make a big difference. Therefore, do enquire and research for the claim settlement history of the company before buying insurance.

6. Payment Options

Car insurance premiums are one of the major and substantial payments you make out of your budget. It is often rarely looked forward to, but is an important process that can provide you advantages at the time of need.

It can be even simpler if done in convenient ways; In-person payments, phone payment, online payment, payment via mobile apps and automatic payment setup are options generally offered.

After you know the option offered to you, it is important to choose something that’s conducive and enables you to pay on time.

How to Avail Car Insurance?

Car is one of the valuable possessions that helps make your life simpler and therefore, it deserves special care and the best insurance so that you can drive carefree.

So, when you consider these points for buying car insurance, you can also consider buy your car insurance policy online. It can have a lot of benefits.

Buying online insurance is not just an easy and convenient option but also offers quick comparison to get the best deals. Moreover, documentation and paperwork becomes easy, while the absence of any intermediaries can also let you avail lower premium, making it light on your pocket.

BUY CAR Insurance with IFFCO Tokio

Talking of online insurance, you can buy your Car Insurance with IFFCO Tokio. Car insurance policies from IFFCO Tokio offer complete protection to your car against various types of damages.

Also, it gives legal liabilities coverage following death, property damage or injury of third parties, arising out of your negligent vehicle use. In addition, they offer easy policy renewal options.

Catering to every requirement of your car insurance, including complete coverage of your vehicle from theft, physical damage or even an act of God, IFFCO Tokio Car insurance makes a great option for all car owners.

IFFCO-TOKIO

Corporate Office, IFFCO Tower,

Plot No. 3, Sector 29, Gurgaon -122001 Haryana(India)