How to purchase an efficient motor insurance cover

Posted by sanjay on April 4th, 2017

Motor insurance is mandatory for people who wish to drive their dream car on road. A lot of insurance companies have come up with innovative products and strategies on insurance policies for customers. At times, customers are confused on policy purchase. The same dilemma is also present at the time of policy renewals. Many times the policyholder wonders whether to stick to the same policy from their existing insurer or opt for a new motor cover. There are many things to be considered before going for motor insurance renewal. When you make the right choices, you will not only have comprehensive car coverage, but you will also end up saving a lot of money as well.

Tips to choose right vehicle insurance cover:

Compare various policies

One of the biggest mistakes policyholders do at the time of policy renewal is that they think it’s the best for them and plan to renew it. However, it's incorrect. At times, you may not be satisfied with the features or benefits offered by the company. You may not be happy with their problem-solving ability or another aspect. So, it's better to go for a policy comparison and see what features you can add to the policy. Comparing policies can prove to be very useful and help you save some money on your policy.

Check Offers

Before you buy or renew your insurance policy, make sure you review the features carefully. See what your inclusion and exclusions are. If there is a special clause for which you are being charged extra, see whether you really need it or not. Eg. If you already have a personal accident cover, you can leave this point and pay less for the motor policy.

Renew online

Today many companies insist on taking policies online. It’s because online policies are cheaper compared to an offline purchase. Companies save on agent commission, inventory setup and other costs. The benefits are directly passed on to the consumers. Therefore, buying or renewing policy online will help you compare quotes, get the best deal as well as save money on it. When renewing your policy online, compare the policies on more than one website and also check on the website of the insurance company.

Renew in Advance

Don’t wait for policy to expire before you decide for a renewal. Instead, it is always advisable to renew it at least 45 days in advance. The advantage would be if there is a price hike in this period, your policy price would be locked at slashed rates and you don’t have to pay the extra amount.

Check Inclusion & Exclusion

Many times due to government mandates the policies are revised and restructured. Therefore, it's important to cross verify every detail, policy terms and conditions, set of inclusion & exclusion and then go for your motor insurance policy purchase. At times, a lot of incorrect data is floating everywhere. As a result, don’t forget to cross check all the information you come across.

If you follow simple tips, you will surely end up saving a lot of money when choosing a motor insurance policy. With online medium, it's a simple and quick process. If you spend a little bit of time weighing the available option you are bound to make some profits on your deal. Just in case, you still want to buy the policy with old practices, hire a good and reliable agent for the doing the job.