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Choosing the right Car Insurance Company for car protection

Choosing the right Car Insurance Company for car protection
transportation and ownership concept - customer and salesman with car key

Buying car insurance can always be one of the tedious tasks especially if a user is planning to shop for it for the first time. As per the act passed by the motor vehicles of the year 1988, it is important to have a third-party liability car insurance policy to drive the car on the road. That is why, whether it is a new car or an old one, to have insurance is important and for this only a car insurance company can help in choosing the right policy. There are some parameters from which the policy needs to be checked.

Understand the objective:

The primary aim of buying car insurance coverage is to offer the right protection to the car against any kind of financial obligation that may occur due to untoward incidents. Such policy focuses on providing better financial protection during any property damage or even when the body gets injured because of the accident. The motor insurance policy also offers coverage against calamities be they natural or man-made like storms, earthquakes, and even thefts.

Different Types of Car Insurance Policies

Before the potential insurance policy is chosen, it is important to even know the type of car insurance policy that is trending in the market. Once the types are clearly understood, then in-depth research needs to be further made. Besides, it can also help in understanding the budget, features, and property. In this way, it would be a lot more convenient to choose the best insurance from Ontario to protect yourself from the financial liabilities that could be unforeseen.

Car insurance policies are available in two types in the market. These are:

Third-party liability car insurance: This type of car insurance covers the financial liabilities that may occur due to any damage or the loss of the vehicle or the death of the person involved in the accident of the car which was insured.

Comprehensive car insurance: This policy along with covering the third-party damages also covers the losses that may occur from the damage that can happen to the vehicle that is insured.

Choose the Right Car Insurance Company?

As per the guidelines that are set by the Indian general insurance market, it has been found that 34 organizations are registered at the legal platform under IRDA. These are the regular body of insurance for selling car insurance. However, when it comes to deciding on which service can work the best, there are few things to be considered.

Check the rating and process of Claim Settlement

The ratio of claim settlement is the claims settled by a number of the insurance company against the overall claims that were raised. If the settlement ratio of the claim is high then there are better chances for the claims to get settled.

No Claim Bonus (NCB)

Select the company that provides a no-claim bonus. This type of discount is the premium that a car insurance company offers. If there is no single claim during the policy period which is being made then the insurance holder shall be eligible to avail of the no claim bonus. It works more like a reward against the prudent use of the vehicle. The company shall even guide you on how the NCB discount percentage is calculated and this determines how can be saved on the next car insurance renewal. To be precise the no claim bonus entirely corresponds to the policyholder and not with that of the vehicle.

Complete Assistance

Customer service is important and as a part of it, customer assistance needs to be done carefully. It can help in making the choice amongst the best insurance providers. Suppose, the companies that have digital insurance can offer the the24x7 customer assistance 24×7 service. This means it includes national holders as well. This way in case there is any kind of grievances to be settled down, it can be done as per convenience.

Insured Declared Value:

This value is also referred to as the high sum assured that the company decided which possibly could be provided on damage or theft to the vehicle beyond repair. To be precise, this is the value of the car which manufacturers have determined. It would be misused from the depreciation If there is a complete loss of the vehicle that has been strolled then the amount shall be offered by the insurance company.

Network Garages

The insurance company should be engaged with the special chain of garages so that repairing can be availed from the location nearby. It is better to look for a company that has good network garages that can help during the accidental damage to the vehicle without any need of borrowing the cash. This means, before the services of the insurance provider are availed, it is important to look for different garages that are under it to improve the scope to avail the cashless faculties.

Claim Process in a streamlined manner

In order to ensure the overall process goes smoothly, the digital insurance shall offer the process which is smartphone-enabled self-inspection based. Such a process streamlines the rising claims to great texting. It can thus save from the hassle of getting the vehicle well inspected by the agent against the insurance company while the claims are being raised.

These are just some of the factors that should be kept in mind while buying a policy of car insurance that can offer the best coverage which even matches the needs.

  • Features of the motor insurance policy.
  • Protection from damage to your car.
  • Third-party property damage Indemnity up to Rs. 7.5 lakhs limit.
  • Unlimited Liability for Third Party Death Claims.
  • Cover for you and the paid driver along with the car occupants.


There is quite an increase in vehicle demand across the country. The industry of car insurance has also witnessed significant growth over some time now. If the car insurance certificate is not produced when requested, it can result in penalties or may even result in some serious consequences. But before a car insurance plan is purchased, the above factors and features need to be carefully understood.

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