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Understand Which Car Insurance Policy Is Most Suitable for You

Selecting a car insurance policy is an important decision that every car owner needs to make. With so many options in the market, selecting the right insurance policy for your car can be difficult. Keep reading to learn about the factors to consider when purchasing a car insurance.

Key considerations for getting a car insurance policy

  • Evaluate your coverage requirements

Before selecting your car insurance policy, it is important that you understand your coverage needs. You need to keep in mind the value of your car and consider whether your car is new or used and the amount it costs. Also, think about the frequency with which you use your car, whether you use your car every day or just on the weekends. You should also consider the location where you use your car. If you are based in a city that is where there are heavy rains or floods, then you might need more comprehensive coverage.

There are mainly two types of car insurance policies. Below is the description of both policies that will help you to select one according to your needs:

  • Third-party car insurance policy

A third-party car insurance policy is the type of policy that is mandated by law in India. Under the Motor Vehicles Act of 1988, it is mandatory for every car owner to have at least third-party insurance with them. This policy only covers the damage caused to a third-party vehicle and not the cost of any damage that happened to your car. You should choose this policy if you are only looking for third-party protection and follow the law.

Comprehensive car insurance policy

A comprehensive car insurance policy is a type of policy that covers a wide range of damages under it. This policy covers the damage caused to both your car and the third-party vehicle. A comprehensive car insurance policy not only covers the damage caused to your car by an accident but also covers the damage caused by theft, fire, or natural calamity. You should choose this policy if you are looking for comprehensive coverage for your car.

You can also select various add-on covers such as roadside assistance cover, zero depreciation cover, engine protection cover, and more such covers to enhance your policy.

  1. Roadside assistance cover: This is an optional add-on cover that many companies like Acko car insurance provides. This cover can be helpful in times when your car breaks down and you need assistance in towing, puncture, or any such situations.

  1. Zero depreciation cover: Zero depreciation cover provides additional coverage to your car insurance policy as it eliminates the depreciation cost of your car at the time of claim settlement. This helps to get a higher claim amount as the company cannot deduct the cost of any damaged parts of your car.

  1. Engine protection cover: This add-on cover provides additional coverage to the engine of your car. You can get the parts of your car engine repaired or replaced regardless of the cause such as water damage or mechanical breakdown.

  1. Personal accident cover: This cover provides enhanced protection to the insured person at the time of an accident. This cover can be a huge help in case of an accidental death or permanent disability.

  1. Key and lock cover: This add-on cover can be helpful if your car keys or lock has been broken, lost, or stolen. You can easily get your car keys or lock repaired or replaced with this cover.

  • Research different insurance providers

Before finalising your car insurance policy, it is important that you research various insurance providers and compare their plans. While doing your research, you should keep in mind things such as the reviews of the customers that are already using the policy and the claim settlement ratio of the insurance provider. You can consider Acko car insurance for your car as it provides customisable policies and has a good claim settlement ratio.

  • Policy exclusions and limitations

You should read your policy document carefully and notice the exclusions of our car insurance policy. There may be certain accidents that your policy does not cover. Be aware of such limitations to avoid any kind of confusion in the future.

Selecting a car insurance policy can be a difficult task. You can make an informed decision with the help of the information provided in this article. Acko car insurance has various policies available that can help you to find a policy of your choice. You should keep in mind the add-on covers that you may need and get full protection for your car. Find the right insurance policy for your car and have peace of mind that your car is protected and you do not need to worry about financial loss in case of an accident or theft.

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