Do Not Make These Mistakes While Buying a Car Policy Online

Automobile insurance purchases and renewals are far more streamlined, straightforward, and quicker than a decade ago. Simpler purchasing processes and immediate policy issuance have replaced lengthy form-filling and document-submission requirements. 

However, there are warning signs you should look out for if you want to get the most out of your insurance shopping experience. Some common blunders can derail your efforts to save money when shopping for vehicle insurance. ##

Read on if you want to avoid making these same mistakes while purchasing it on an app for car insurance:

Avoid These Common Automobile Insurance Mistakes:

Mistake 1) Not Doing Basic Research: 

Buying an insurance policy online is like buying anything else online. Online shopping requires basic research. Would you buy a phone from an unknown website or a trustworthy one? Right? You may check if an online vehicle insurer is certified on IRDAI before buying or renewing. Search the website for the insurer’s social media profiles for legitimacy, brand ethos, and customer reviews. Buy or renew vehicle insurance online without panicking and with basic research. #

Mistake 2) Not Comparing Policies: 

Not comparing auto insurance prices and inclusions can result in inadequate coverage. For a decent deal, compare policies analytically on several car insurance mobile apps. Don’t get an affordable Comprehensive Car Insurance Policy because low-cost policies may have lower IDVs. *

Mistake 3) Buy fewer features and coverage:

Digital-first insurers offer low-cost insurance with high coverage, superior customer support, and claim settlement. Comparing plans can help you find affordable auto insurance with the proper coverage. Car insurance has another purpose: legal compliance. A Third-party Liability Policy is required for four-wheelers (TLP). This basic plan is more economical than the Comprehensive plan. Note that TLP will satisfy legal requirements but not personal insurance needs because own Damage coverage is not included. *

Mistake 4) Resisting the Online World:

Let’s be honest – online policies are more reasonable & easier to buy and have several benefits. No paperwork, anytime, and anyplace purchases are notable. Call the online insurer’s customer care service if you’re uncomfortable with the internet. You could also seek an online expert on an app for car insurance to help you get insurance online.

Mistake 5) Avoiding Anti-theft Devices:

Car theft is awful. Even if you always park your car safely, no one expects it to be stolen. However, installing an anti-theft device (ATD) in your automobile makes the thief’s job harder and increases the likelihood that your car won’t be stolen. ARAI-certified ATDs can lower your premium. Your insurance must know you have a certified ATD to provide benefits in your Comprehensive plan because this decreases their risk. *

Mistake 6) Not Managing the No Claim Bonus Component: Correctly managing the NCB component of a Comprehensive Plan can lower your premium through a Renewal concession for claim-free policyholders. The insurer rewards the claim-free policyholder with this benefit. *

Mistake 7) Ignoring Voluntary Excess:

Policyholders must pay deductibles when filing claims. A voluntary deductible is added to the mandatory one. By choosing a Voluntary Excess, you promise to pay a set sum in case of a claim. The insurer lowers the premium. However, selecting a greater Excess/Deductible to lower premiums may reduce claim payouts. *

Mistake 8) Not Sharing Accurate Information: Be honest while acquiring a policy. You should also be honest while addressing insurance executive inquiries during a claim. Trust underpins insurance. According to the Policy Wording, policyholders must provide truthful information when requested. Failure to do so can get you arrested for illegal acts.

Policy Wording can clarify insurance coverage and claim settlement expectations. Contact the insurer’s support team if you need clarification when you want to buy new car insurance online. Avoid ambiguity. If you need to learn more about insurance, it’s crucial to acquire a policy.

* Standard T&C Apply

# Visit the official website of IRDAI for further details.

## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.