Things You Should Do While Comparing Car Insurance

Things You Should Do While Comparing Car Insurance

If you are buying car insurance, then it would be a crime if you don’t compare quotes and offerings of different insurers online. With the available technology at your disposal, you should make it work in your favour. This article will serve as a guide for you related to things one should do while comparing car insurance.

There are many factors that can affect your car insurance premium. Below are some of the recommendations you should consider related to your car insurance policy:

Don’t let your policy lapse; you will need to pay more for renewing it

Most insurance companies view car owners who don’t have insurance as risky or irresponsible. So, if your policy lapses, you might end up paying more when you go to buy car insurance. To avoid this, if you don’t want to pay more for insurance or are planning to let your policy expire because you want to switch car insurance companies, make sure to purchase car insurance before your current policy is cancelled.

Higher deductibles can lower your premium

Insurance prices are based on how much money the insurance company believes it could have to pay. If you agree to pay a considerable percentage of your own damages by raising your deductibles, your car insurance company knows they won’t have to pay as much for your claims. Because of this, they will usually give you a lower premium. If you decide to raise your deductibles to save money, be sure you can afford to pay the deductible if you have to make a claim.

Insurance discounts can make a difference

Most insurance companies offer auto insurance discounts for things like car safety features, anti-theft devices, membership of automobile clubs, and more. Make sure you’re getting rewarded appropriately.

Mode of purchase

If you purchase the car insurance offline, then your premium will be loaded with hefty agent commission and also bear the cost of the administrative paperwork. If you buy online, then you get the same insurance cover cheaper as the above-mentioned costs do not apply.

Few Things to Note:

Compare car insurance for premium

One of the most obvious reasons to compare insurance plans is to get a good plan with the cheapest premium available in the market. Compare online, on insurance aggregator websites, to get free-of-cost unbiased comparison, at a single web location. Thus, in a very simplified way, you can get multiple car insurance quotes to compare on a single website.

Choose the appropriate IDV

If you own a high-end car, then you must try to get the highest IDV (insured declared value). IDV is the highest value paid by the insurance company in case of total loss. When your car is expensive, one must go for the company offering the highest or most appropriate IDV.

Cashless facility/ wide network of garages

Just like Health Insurance segment, cashless claim facility is gaining momentum in the car insurance space. Insurers boast of the strength of their tie-ups with numerous motor garages wherein you can send your car for repairs and not pay upfront. When comparing on the basis of network strength, ensure that the garages near your vicinity form a part of their network. It is of no use to you if their network garages are located in distant places.

Free Add-ons

Some companies attach some free add-ons to enhance the coverage of their car insurance policies. Good market research would let you know about the companies offering such reward schemes.

Different Ways to Compare Car Insurance

There are two ways to compare Car Insurance.

Offline – Offline research is the old way of getting car insurance. You have to rely on the insurance agent for advice and comparison of quotes of other insurers. In this method, the agent may disclose only the quotes from insurers from whom he is getting a fat commission and you will never come to know the true comparison. It is also time-consuming when you go for car insurance in offline mode.

Online – Online is the new way of comparing car insurance premium. Web aggregator websites like offer great help in comparing quotes, features and benefits of different insurers on a single platform. Online comparison is not only easy to use but is convenient and available 24 hours a day, 365 days a year.

So, now that you are armed with great tips to compare the car insurance online, go get yourself the ideal deal and a comprehensive coverage for your car.