Involvement of a car even in a minor car accident is sure to bring some loss to its owner. However, car owners, generally avoid taking the car to company owned service centers or expensive car showrooms for repairs, especially at the time of a minor accident as leaving your car at any of these places will leave you with a hefty bill for complete servicing of the vehicle. Taking the car to a car mechanic is much cheaper than getting it serviced at a high-end service station. However, they also charge a good amount of money for repairs. Besides, a lot of them do not use genuine spare parts for repairing which further affects the performance of the car.
Car servicing is not just limited to routine maintenance. Car manufacturing companies charge a lot of money for genuine spare parts that make car maintenance a costly proposition. Therefore, have you ever wondered as to how to combat all these issues? Well, there is a solution to all these problems, popularly known as car insurance. Having car insurance is mandatory in India, still not many people know about the best car insurance available in the market. As a result, they end up buying an insurance proposed either by a relative, friend, anyone who has bought it or by an insurance agent who generally recommend such a policy that ensures him a decent commission. It is advisable not to fall in the trap of the insurance agent, instead use your own discretion to buy the right car insurance online.
Here are 3 important things you must know about car insurance:
1. Go With a Zero Depreciation Policy Instead of a Normal One
When buying online car insurance, it is advisable to choose zero deprecation policy over a normal car insurance policy, especially if you own an expensive car. In a normal insurance policy, your cover will be calculated on the depreciated value of the car. While in a zero depreciation policy, you will get complete cover without evaluating depreciation. Though premium in depreciation policy is a bit higher, you are assured to receive a full cover at the time of accident.
2. Laws will Change in Years to Come
Carrying a motor insurance is mandatory in India, though a lot of people are unaware of this fact. According to recent statics, a large section of the riders on road does not possess car insurance. At present, government charges a fine of Rs 1000 from those without a car insurance policy. However, the chargeable amount is going to increase in near future up to Rs 50,000.
3. Transfer of Insurance
It is important to transfer the ownership when buying a used car. Moreover, it is also mandatory to transfer the motor insurance on your name.
Consider reviewing the above-mentioned pointers to avail the best car insurance. They will definitely help you take the right decision and save you from hefty bills you might come across at the time of car maintenance and repair.