Online Car Insurance Quote: Why? - Greyfont

Online Car Insurance Quote: Why?


Buying a car insurance is mandatory and there is no way out you can compromise on this. A lot of people erroneously buy a car insurance just for the heck of it without even checking the benefits it has in store.  Pricing is one thing that shouldn’t alone be considered because there are other important factors that offer protection cover benefits in the case of accident or damage to the vehicle.


With the help of technology and internet, you can easily go online and compare different online car insurance policies before finalising on one. There are different parameters including cost according to the choice of the customer.


An online car insurance can be useful for the following reasons:


1. Offers coverage for Damages

Buying a car is an expensive affair. Besides, it also requires good timely maintenance. You may have to bear the brunt for repairing the damages caused due to the negligence of the third party. Buying an online car insurance will be a saviour during such incidents and will take charge to handle the repairs and payments.


2. Reduces the Liability

Imagine you shelling out pots of funds during an instance where you accidentally hit someone while driving and the other party making you pay money to cover their damages. During such cases, an online car insurance policy with a third party insurance would come to your rescue. This type of car insurance will pay for the third party’s treatment and property loss or damage and thereby save you from any coming legal repercussions.


3. Offers Hospitalisation Cover

Minor bruises and car accidents are normal and doesn’t lead to any major property damage or bodily injuries. However, major accidents can certainly be nasty and lead to serious bodily injuries. Getting medical urgency and treatment would definitely lead to high medical bills. This is when an online car insurance comes to picture to get you covered by paying for the hospital charges.


4. Compensation to the victims’ Families

Road accidents can be worst leading to death of a person or persons. In conditions like these, the victim’s family unfortunately has to go through the emotional grief of the loss of their loved ones as well as a financial loss. Though emotional and bodily loss is irreplaceable, online car insurance offers a financial help by paying for the expenses of the deceased.


5. Pocket-friendly Options Online

It’s a fact that buying a car insurance online helps you to fetch lower car insurance premium. Simply because, the car insurer saves a lot on administrative costs and other commissions to the agent or broker. Thus, you get discounted premiums in turn. Online car insurance also offers instant policy in fewer seconds as well as nil paperwork.


What you ought to Know about Online Car Insurance

1. Compulsory Third-Party Insurance

As per the Motor Vehicles Act, 1988 any vehicle plying on the Indian roads should be insured with a third-party insurance compulsorily. This type of car insurance extends coverage against damages or loss caused to any other party (third-party), their vehicle, and/or property.


2. Optional Comprehensive Cover

This type of car insurance cover is not mandatory and therefore can be purchased as per your will and wish. It offers coverage for the damages incurred by your own vehicle in case of an accident or mishap. Expert’s advice to insure your vehicle with a comprehensive cover to get protection against accidental damage and thefts.


3. Add-on Covers

Add-ons are riders that enhances your basic car insurance policy. These can be bought at an additional premium only as per your requirement.


4. Insured Declared Value

When you buy online car insurance, the premium of your car insurance is linked with the Insured Declared Value (IDV) of your car. This amount is nothing but the maximum amount that you can rightly claim in case of an accident as per your motor insurance plan. Therefore, it is imperative to know your current IDV when the times come to claim car insurance.


5. Opt for Voluntary Deductibles

Voluntary deductibles help to lower your online car insurance premium. This is the amount you will have to bear in case of repair costs in case of a claim, which ultimately leads to car insurance premium reduction.


The Bottom Line

Car insurance would be an obvious investment you will have to make in case you already own a car or plan to buy one in the near future. Therefore, look for a car insurance that actually adheres to your needs. Utilise the blessing of digital technology and get a perfect match by comparing car insurance online.


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