In India, every motorist must have a valid motor insurance as per the norms. A vehicle insurance policy should not just be bought out of compulsion. One should also know the benefits of a car insurance policy that come along with it. Most car accidents often involve two parties – one who hits the vehicle and the one who is hit.
Hence, it is wise to invest in a comprehensive car insurance policy
as it covers losses related to a person’s own vehicle and the damages caused to a third party (person or property). However, buying the right kind of insurance policy is quite like a rocket science for some people as the financial terms and jargons are relatively difficult to understand. Therefore, most people just settle for policies that sound useful or are offered at a cheaper price. There are some people who also do some research and yet make mistakes when it comes to buying the right policy.
There are two ways to buy insurance online in India. In the first case, the agent visits your premises mostly and explains to you about various policies and thereby suggests you a couple of policies that suit all your needs and the other way is buying an insurance policy online. In this case, you simply log on to an insurance website, go through a few policies and select one out of the lot. Of late, it is ideal to buy an insurance policy online as you end up saving on money as there are no agents involved in the transaction which saves the costs of commission. Besides saving money, the best part about buying or renewing car insurance policy online is that you can simply select the right policy within minutes in the comfort of your home.
The question still remains the same- how do you select the right insurance policy. There is a term called as vehicle insurance calculator. The vehicle insurance calculator is a tool that helps you choose the right policy based on your needs and requirements. In the conventional mode, you have to meet agents from various companies to select the right policy. In the online setting, all you have to do is to logon to a comparison website and fill in all the necessary details like date of registration, car make, model etc. related to your car and the vehicle insurance calculator will suggest the policy based on your case.
You must only use the car insurance premium calculator once you know the basic details of few policies that you wish to compare like the price of the insurance policy and its core offerings.
A car insurance calculator also helps you understand several other parameters that affect the price of an insurance policy. If you are paying more than the average cost of a car insurance policy, your policy must have more than the usual benefits.