Time to Bust the Common Myths about Car Insurance in India
Car Insurance is often a conversational topic amongst friends & relatives. Often, with our half-baked knowledge, we tend to form misconceptions about car insurance policies that affect our decision making while buying or renewing such policy.
It’s time to bust these myths & misconceptions and gain clarity on car insurance policies to make an educated choice.
Myth # 1
I am an Experienced Driver. I Don’t Need Car Insurance.
You might be the most experienced driver, but mishaps happen due to various reasons. It could be a defective road, the fault of another driver, or a natural calamity like a landslide or a cyclone. Even though you may not be at fault, you might have to pay for repairs after such happenstances. At such times, Car Insurance is your best friend.
Myth #2
Buying Car Insurance is a Cumbersome Procedure
Getting Car Insurance in this time & age is simple, efficient, and convenient. You can get it right on your computer in a jiffy. All you need are a few details about your car, and you can pick from various plans offered by different companies. You may also choose to connect with an insurance broker to receive the best deals & after-sales support. It’s all easy-peasy!
Myth #3
Insurance Premium for Old Cars is Lower
Car insurance premium does depend on the Insured Declared Value of the car, but that is not the only factor. Your previous driving & claim history, no-claim bonus, and the condition of your car are some other factors that have a bearing upon premium rates. If your car is quite old, you may buy a Third-Party Liability Insurance, but do not drive in an uninsured car. It’s illegal!
Myth # 4
I will Lose my No Claim Bonus while Changing my Insurance Company
It is just the myth of the ill-informed! You are free to change your insurer at the time of policy renewal and can also transfer your No Claim Bonus at the same time. But be sure to renew the said policy within 90 days of its expiration date to transfer the No-Claim Bonus.
Myth # 5
Claims settlement is a Long & Complicated Process
It is not so at all! Just fill the claim submission form on the company website and attach the required documents. Or call your insurance broker to handle the claim process for you. In fact, in the case of cashless policies, there is a direct settlement between the insurance company and the car repair centers.
Well, we certainly hope that now you are better informed to make the right choice regarding your Car Insurance. Suraksha Insurance Brokers are here to assist you in making an informed decision and manage your car insurance claims. Connect with us at insurance@suraksha.seahwk.com for more information about car insurance and a range of other insurance policies.
