How to Buy the Best Car Insurance Plan Online?

Best Car Insurance Plan

Best Car Insurance Plan

A car insurance policy is a contract between the policyholder and the insurance company under which the latter agrees to provide financial compensation to the former in case of unforeseen events. This means that if the insured car is lost, damaged, or stolen, then the insurer is liable to compensate for the financial loss.

There are different car insurance policies: third-party, standalone, own-damage, and comprehensive car insurance. Moreover, owing to the importance of car insurance, many insurers now offer these plans, which often makes it confusing to pick the most suitable plan. So, let’s take you through some of the best ways to buy the best car insurance online

Tips to Buy the Best Car Insurance Plan in India

Listed below are some tips that will help you buy the best car insurance plan in India:

  • Compare the Plans Available: Before buying car insurance, it is advisable to compare the different plans available. This will give you a clear understanding of the inclusions and exclusions of the policy and, accordingly, buy a suitable plan.

  • Check the Premium: When buying vehicle insurance in India, you should always check its premium. Doing so will help you check whether the premium fits your budget. If the premium is out of your budget, review the policy again and look for ways to reduce the premium.

  • Add-ons: Another thing you need to check to buy the best car insurance plan in India is to check the availability of add-ons. Sometimes add-ons like Zero Depreciation Cover, No Claim Bonus Protector, Key Loss Cover, and others prove beneficial. For instance, Zero Depreciation Cover is advantageous during the claim settlement; you will get the complete claim amount, regardless of the depreciation. Likewise, the other add-ons are beneficial in their own ways. So, to get the best coverage under your car insurance plan, include the relevant add-ons.

  • Claim Settlement Ratio: The Claim Settlement Ratio or CSR refers to the ratio between the number of claims raised to the number of claims settled in a given year. It indicates the insurer’s credibility in settling your car insurance claims. So, choose an insurer that has a higher claim settlement ratio.

  • Customer Service: You should also check whether the customer support team of your car insurance provider offers 24*7 support or not. You should choose an insurer that has a readily available support team so that you can get assistance whenever you need it.

  • No Claim Bonus: You may often forget to declare the No Claim Bonus or NCB while buying a car insurance policy. The No Claim Bonus, which accumulates when you do not raise any claim in a given year, also gives you a discount on the premium. So, if you have any accumulated No Claim Bonus, then make sure to inform the insurer about the same.

  • Choose Appropriate IDV: The IDV or the Insured Declared Value refers to the exact market value of the car. While buying a car insurance policy, you need to declare the IDV as this affects the premium and the claim amount. The higher the IDV, the higher the car insurance premium, and vice versa.

How to Buy ACKO Car Insurance?

To buy ACKO car insurance, you need to follow the below-mentioned steps:

  • Go to the ACKO mobile app or website

  • Click on the car insurance and enter the car registration number

  • Select ‘check prices’

  • Then, you will have to enter car make and model, fuel type, variant name, registration year

  • A list of plans will be displayed, select the necessary add-ons

  • Provide personal details and proceed further with the premium payment

  • Once the payment is approved, you will receive car insurance details on your registered email address

Take Away

So, keep the above-mentioned tips in mind in order to buy the best car insurance plan online. You can also switch the insurer or plan during the renewal time in case you are not satisfied with your existing policy.

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