Read the blog post below before buying four-wheeler insurance. Ask the right questions and get the protection you need for peace of mind on the road.
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Top questions to ask when you buy four wheeler insurance
When you buy a four wheeler insurance policy, you are making an important decision that has some consequences for you. It is not just about finding the cheapest policy, but also about ensuring that you have adequate coverage to protect your car in case of an accident or any other unforeseen events. Here are some top questions to ask when you buy four wheeler insurance:
What is covered in the policy?
Before you buy a four wheeler insurance policy, it is important to understand what is covered and what is not. A comprehensive policy covers damage caused to your vehicle due to accidents, theft, natural calamities, and fire. It also covers any third-party liabilities arising due to accidents. You should ask your insurer for a detailed list of coverage and exclusions.
How much premium do I have to pay?
Premium is the amount that you pay to the insurance company for the coverage provided. The premium amount is calculated based on various factors such as the make and model of your car, your age, driving history, and location. It is important to compare the premium amount offered by different insurers before making a decision.
What is the claim settlement process?
In case of an accident, you would need to file a claim to get compensation from the insurance company. The claim settlement process should be hassle-free and transparent. You should ask your insurer about the documents required to file a claim, the time taken for claim settlement, and the steps involved in the process.
Is there a network of garages where I can get my car repaired?
Most insurance companies have a network of garages where you can get your car repaired in case of an accident. These garages are called cashless garages, where you don’t have to pay anything for the repairs. You should ask your insurer if they have a network of garages and if yes, how many garages are there in your city.
What is the No Claim Bonus (NCB) and how does it work?
NCB is a discount offered by insurance companies for not making any claims during the policy period. The discount can range from 20% to 50% depending on the number of claim-free years. You should ask your insurer about the NCB offered and how it can be availed.
What is the deductible amount?
Deductible is the amount that you have to pay from your pocket in case of a claim. The deductible amount is fixed by the insurer and varies based on the coverage and the make and model of the car. You should ask your insurer about the deductible amount and if there are any options to reduce it.
What is the policy renewal process?
Insurance policies need to be renewed annually to continue the coverage. The renewal process should be simple and hassle-free. You should ask your insurer about the renewal process, the documents required, and the premium amount for renewal.
Are there any discounts available?
Insurance companies offer various discounts to attract customers. You should ask your insurer about the discounts available such as the anti-theft discount, installation of safety devices discount, and loyalty discount.
How can I contact the insurer in case of an emergency?
In case of an emergency, you would need to contact your insurer immediately. You should ask your insurer about the contact details such as the toll-free number, email address, and the nearest branch office.
What are the payment options available?
Insurance companies offer various payment options such as online payment, payment through credit or debit cards, and payment through net banking. You should ask your insurer about the payment options available and choose the one that is convenient for you.
In conclusion, buying a four-wheeler insurance policy requires careful consideration of various factors such as coverage, premium, claim settlement process, and discounts. It is important to ask the right questions and understand the terms and conditions of the policy before making a decision. By doing so, you can ensure that you have adequate coverage and peace of mind while driving your car.
Moreover, it is always recommended to compare policies offered by different insurance companies to get the best deal. There are several online portals available that can help you compare policies from different insurers based on coverage, premium, and other factors. You can also read reviews and ratings of insurers to get a better understanding of their services and customer support.
Chola MS Car Insurance brings different plans from CHOLA MS, a leading insurance provider in India that offers a wide range of insurance products, including car insurance. Chola MS Car insurance policy provides comprehensive coverage against damages caused due to accidents, theft, and natural calamities, as well as third-party liabilities. There are many add-ons such as zero depreciation cover, engine protector, and roadside assistance to enhance the coverage. Chola MS car insurance has a vast network of garages where you can get cashless repairs and a hassle-free claim settlement process. Our customer support team is available 24/7 to assist you in case of any emergency.