Looking for a 3rd party car insurance online? Are you unsure of which motor insurance policy you should choose? Fret not, we have compiled a list of do’s and don’ts that will come in handy when you are making the most important decision for your vehicle?
Do’s
1. Be aware of your insurance coverage
There are mainly two types of coverage – 3rd party insurance and comprehensive car insurance. 3rd party coverage is mandatory by law and covers legal liabilities while a comprehensive car insurance in Abu Dhabi covers both the third party as well as own losses.
2. Look for add-ons
Besides the normal coverage that a third party insurance offers, there are various other selective services that you can opt for. These services are designed to save more money and can range from 24*7 road assistance to zero depreciation plan.
3. Be informed of inclusions and exclusions
When you buy 3rd party insurance online, make sure you read all the relevant clauses about inclusion and exclusion of your policy.
4. Use online premium calculators
Most insurance websites offer online calculators to calculate premiums and help you understand them better. It is an important tool to compare premiums from various policy holders and make a wise decision.
5. Research well
When you purchase insurance online, research well across a plethora of companies offering similar insurance benefits. There is a myriad of services available across internet to help you compare and decide on the best option.
Don’ts
1. Cheap does not mean best
Since there is no dearth of insurance providers online, there is price related competition. You may come across cheap premium offers, but they may not be providing all needed services. So make sure that you compare the company history, services offered, claim settlement ratio and not just the price.
2. Terms and conditions
The terms and conditions section contains a lot of detailed jargons, make sure you read them carefully and not miss out on any important information.
3. Do not miss renewals for the last moment
Every 3rd party insurance comes with an expiry date. Do not wait until the last moment, set reminder and stay insured.
4. Understand IDV
IDV or insured declared value is important to be understood. It is the current value of your vehicle in the market and is subject to depreciation. This is the value on which your premium is calculated. It is important to be understood well as this forms the base value at which your policy is customised.
5. Do not hide any facts and provide correct information
When buying insurance online, be as honest as possible and refrain from providing any fake information. Lying or hiding facts when buying insurance may get you lesser premium or discounts but it may backfire at the time of making a claim.
Buying the 3rd party insurance online makes it fairly simple, quick and easy to pick the right insurance policy. Keeping in mind the above pointers can make your decision more secure. But don’t forget to compare, analyse and make a smart decision.
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