Best Ways to Compare Your Car Insurance Policy

Suppose you want to purchase a t-shirt. Do you buy the first one you see or you shop around a bit, checkout what is on offer, and then make the decision? Majority of people belong to the second category. This stands true for most products and services, especially if you are purchasing a car insurance policy. Unless you are too brand loyal, it is a good idea for compare car insurance before you purchase a policy. Read ahead to know best ways to compare a car insurance policy.

How to purchase and compare car insurance?

Car insurance can be purchased online as well as offline. Old school car owners prefer to purchase car insurance offline, which means they have to visit the car insurance company’s office, fill forms and get their car insured. This can be done with the help of an agent as well. If you have to compare car insurance policies offline, you will have to either rely on the insurance agent for information or personally visit various car insurance company’s offices to get quotes and understand the coverages offered.

To compare car insurance online and purchase it directly from the brand’s website is a lucrative option. It is easier to compare car insurance online and purchase a policy as you can conduct a basic research in minutes. You just have to visit few car insurance companies’ websites, enter information, and you shall receive an insurance quote. There are aggregator websites that help you to compare car insurance online as well.

What should be the base to compare car insurance?

Unlike popular opinion, the base to car insurance comparison should be the coverage offered and not just the price at which it is offered. Going back to the t-shirt example, would you prefer a t-shirt just because it is cheap and overlook its quality? Or keep a certain quality in mind and then seek the lowest priced t-shirt in that range? Again, it is a lot productive to be in the second category.

While you compare car insurance from various providers, ensure that you check the coverage offered by them as well. For example, a company might offer a Comprehensive Car Insurance policy for Rs.3000 whereas, the other company might be offering a Comprehensive Insurance policy plus Zero Depreciation for Rs. 3200. Now, if you need Zero Depreciation, then there is no point going for the cheaper option because it does not provide the needed coverage. On researching further, you might come across other companies that might provide Comprehensive plus Zero Depreciation for Rs. 3100. This is how you can save money when you compare car insurance.

Does the insurance company matter while comparing car insurance?

Yes, it does. The most important aspect regarding car insurance is claims settlement. This is where choosing a credible car insurance provider can work wonders for you. You can check the credibility of a car insurance company through its Claim Settlement Ratio. Peer reviews and checking out the brand’s social reviews can also give you an idea about the company.

Digital-first car insurance companies make a lot of effort in presenting car insurance policy’s features and benefits in an easy-to-understand manner on their website. You can go through the website’s blogs for further understanding. However, do not purchase a policy without clarifying your doubts. If you feel there is a point mentioned in the inclusions or exclusions that you are not able to understand, get it clarified from the insurance company. You can do so by sending them an email or calling them up. Sending messages on social media platforms is also viable option.