If you have a car, then buying a car insurance plan is a must to safeguard yourself from all future expenses, and you can face whether it is a car service, repair, or even a car accident. However, when you plan to buy car insurance, you would like to get a plan with the most benefits and affordable premiums.
Therefore, you must compare car insurance plans to identify the best one for your car. Here, we will discuss how you can compare car insurance policies.
Comparing different types of car insurance plans
Before you buy a car insurance policy, you must learn about the different car insurance plans available in the market. Here are the two major types of car insurance plans and their comparison to help you pick your ideal plan.
- Third-party car insurance
A third-party car insurance plan is the mandatory insurance for vehicle owners according to the Motor Vehicles Act, 1988. However, the third-party car insurance plan provides coverage against the expense and damage caused by your car to anyone else’s property or car, or injuries by someone driving your insured car. But it will not cover any damages that are caused to you or your car.
- Comprehensive car insurance
A comprehensive car insurance policy offers more extensive coverage than third-party car insurance plans. It covers all the expenses related to the injuries and damages to a third party caused by your insurance car. In addition, it will also cover all the damages and injuries of your own.
For example, if you get into a car accident, comprehensive car insurance will help you cover all the damage and injuries of your own and the third party involved in the accident.
How to compare car insurance policy
Today comparing car insurance policies online is very easy. Healthcare companies like Okbima can offer a wide range of car insurance policies with claim assistance and consultation under one roof. So, before purchasing any car insurance, look at the factors you must compare to get the best plan.
The first and foremost important factor you must compare before buying an insurance plan. If you are purchasing a car insurance plan, you may not know that every insurance plan has different coverage.
Some policies only cover the damages of car insurance caused by natural calamities and unintentional accidents but not for human-made calamities. Along with basic coverage, try comparing add-on facilities, roadside assistance, and other coverages.
- Premium price
Another crucial factor you must compare is policy premium cost before purchasing any car insurance plan. Buying a policy at a higher premium than usual is a wise decision. So, comparing different policies is essential before you make the final decision.
Nowadays, you can get various policy comparison sites online. An insurance comparison site online helps to compare different policies and pick a policy with maximum coverage at affordable prices.
- Exclusion list
Every insurance policy has a list of expenses that it covers and a list of expenses it does not cover. If you purchase a plan without checking the fine print and policy words correctly, you can face future invalid claims or claim rejection-like troubles.
Comparing various car insurance policies and their exclusion list can save you from future troubles. Also, compare and pick a plan with minimal exclusion.
- Add on facility
An add-on facility is a crucial part of an insurance plan; it helps you to upgrade your insurance plan according to your needs. However, it would help if you remembered that not all car insurance provider offers add-on facility.
So, more than comparing the coverage or premium is required. It would help if you also compared the add-on facilities to determine the best car insurance plan.
- Insurer’s reputation and buyers’ review
It would help to compare the insurer’s reputation and buyers’ reviews before purchasing. An insurer’s reputation in the policy market tells much about the insurer. The same goes for the buyers’ review. Going through these details and comparing one with another helps you select a reliable service.
- The IDV value
The IDV value or Insured Declared Value refers to the value of your car in the current market. A car’s IDV reduces as it ages, as aging can make it riskier and prone to damage. However, you can compare different insurers’ IDVs and select an insurer that offers the maximum IDV depending on your car’s age and market value.
Why choose Okbima to compare insurance policies online?
Okbima is the leading Compare Insurance Plans Online in India and buy service provider in India. The company can help you compare the leading insurers’ car insurance policies and instantly purchase a plan online. Here are a few reasons to choose Okbima for comparing your car insurance –
- Easy and hassle-free
Comparing insurance policies alone can be a hectic job, but with this company, you can quickly get a detailed guide to compare policies online.
- Saves time and energy
With this company, you can easily compare car insurance policies and purchase instantly, which saves you time and energy.
- Suitable recommendation
Here you can also get recommendations for different insurance policies that match your needs.
It would help if you compared insurance policies to get the best plan for yourself when you plan to get a car insurance plan. Here we have discussed the benefits of choosing Okbima and factors to consider while comparing car insurance policies.