What are the important facts to be known for car renewal policies?

Though car insurance has been declared as mandatory by the Indian government, there are several vehicle owners who do not have it. In addition, according to an analysis by car insurance company, it has further been found that there are people who are driving the car with fake insurance policy papers for regulatory rules. Having valid motor insurance will help you to drive safely and cover up for the financial loss due to any incidents. According to reports, it can be said that most of the vehicle owners in small towns and cities do not carry a valid insurance policy.

Apart from this, the third party insurance policies are not interested in selling the insurance or helping people for the renewal of the policies. Therefore, third-party liability insurance is compulsory in India. But most of the car owners have a comprehensive insurance policy that will protect them from any cases of accidents.

Things to consider when renewing car insurance policy

1. Cashless facilities – When you opt for insurance renewal policy from any affiliated company, you can look for cashless car insurance claim. By this, you need not look for reimbursement in case of any damages or other accidents caused to the car.
2. Choose for the best plan – Before you apply for the car insurance policy, you have to decide which type of plan you wish to have. Though Third Party Liability Insurance is compulsory in India, it is seen that most people have a Comprehensive Insurance policy. It also protects them from any damage or other incidents.
3. Insured Declared Value – This is the basic money set for the insurer depending on the current market value in case the vehicle has been damaged or stolen.
4. Deductibles – There are voluntary and compulsory deductibles that should be paid every year pertaining to the insurance of the car. For every claim, a minimum of rupees 1000 should be paid. Therefore, make sure that you are able to keep away from any fake claims pertaining to the car insurance policy.

5. Renewal Quote – The renewal quote can vary from one company to the other. It will also depend on the IDV of the car. The owner of the car should also know that the no claim bonus cannot be carried forward and need to be used within the mentioned time period. Therefore, get more news about the insurance policy from online.

If you are merely planning to seek help from any car removal service, then you can contact them directly without any such hassles of any middleman in the case. And in this way, no hidden fees or charges would be involved in just selling the old car.

However, it is better to conduct research online so that you get the best offers on your car insurance policy. You should also compare the quotes online before opting for the same. Look for easy claim procedure of your car insurance. Therefore, it makes sense to get the best insurance policy that suits your requirements.

Ricky is a graduate of computer science engineering, a writer and marketing consultant. he continues to study on Nano technology and its resulting benefits to achieving almost there.