We all dream of owning our personal car. A car is the best way in terms of living your life on roads with thrill, class, safety and comfortably. A personal vehicle is the demand of time and if you own a car, you must know that your car makes your life easy in every possible way. Car insurance is one mandatory part of your life if you are an owner of a car in India. In India, according to the Motor Vehicle Act 1988, it is mandatory to buy car insurance for every car that zoom on the road.
There are two types of basic car insurance in India. Third party car insurance is the most basic type of car insurance and it offers good coverage to the third party during car insurance. It is a basic insurance plan that covers loss or damage that is caused to the third party property or an individual by the insured vehicle. While we have a comprehensive car insurance plan that offers overall, end to end protection the policyholder, vehicle and the third party during an accident. It also offers cover during natural calamities and man-made disasters. But, a cover changes, the premium amount for both the insurance cover also changes. In short, one has to be judicious about the type of cover that he/she as the market is flooded with various car insurance companies. You can take help of PolicyX.com for choosing the best car insurance company for your next car insurance plan.
Sometimes, we decide to choose an insurance company but only after months or years, we realize that it is just to change the insurance company due to various reasons. Ideally, one needs to be vigilant at initial times only, but it’s better to be late than never. You are the one who pays the premium amount, so it is your right to decide where your money should be better. Before switching insurance company one need to take care of all aspects and keep a sharp eye on the insurance market. It is completely your choice that when you want to change your insurance company, but we have some basic points as mentioned below that one should consider while switching insurance company –
Unsatisfactory customer support – Customer support of a company is the link between you and your company. IN case of an emergency like while making a claim if you cannot connect to your company then what is the use of such insurance? Most of the insurance company promise 24/7 toll-free service or customer care service. If your company is continuously unsuccessful in providing you support for problems covered like accidents, repair or theft then it is high time to consider the company change.
Raising Premium Rates – It is not easy to understand the method by which insurance companies calculate premium rate. It differs from one situation to another. At the time of calculating factors like, the age of the vehicle, the model of vehicle etc are considered which may result in as high premium amount for one and low premium amount for other for the same insurance coverage. From time to time insurance company re-evaluates the insurance profile of the customer and this result in a change of premium amount as well. You have to keep a track on the premium amount and coverage that you enjoy, if you see an unnecessary and unjustified increase in premium amount then you can seek other insurance companies.
Add-on covers – Insurance policies are known for the maximum return on minimum investment. If you pay an extra premium for add-on covers and still your insurance company does not offer you what coverage you look for, then you should change your company as add-on covers also differ from company to company.
Just pay attention to all above stated points whenever you are buying a new car insurance policy or changing the existing insurer.