There are many costs that you incur while owning a car. Fuel, maintenance and what not. But a cost that’s legally binding is that of Insurance. Yes, insurance is not an option but a necessity. So while shopping for Car Insurance, here are some tips you should follow:
Weigh all your options
Car Insurance in India is a big market. And as in every big market, there are multiple players who are all vying to get your business. Use that to your advantage and get superb rates on your insurance.
Be mindful of the car you buy.
You may pool in a major part of your savings to buy a car of your choice, but be mindful that an expensive car means that its insurance premium will cost a hefty package too! A brand new sedan’s insurance will be expensive and a used car will attract a lesser insurance premium.
- Don’t get fooled into third party insurance.
An easy way around the legal need to have an insurance and to have low premium while doing it is to get third party insurance. This does not cover any damage your car may sustain and is therefore, penny wise and pound foolish. The only types of Insurance policies available in India are Third party and Comprehensive, so be sure to choose the latter.
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