How to choose the best car insurance company?

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Insurance companies in India offer a plethora of car insurance plans that cater to the specific needs of the buyers, but choosing the right policy can be challenging. In India, insurance companies offer different plans with different features, and these plans come at various price points. So, it is important that you do your research well before picking the right insurance policy to best suit your needs.

Before you start looking for the best car insurance and the best insurance company, assess your needs and know the type of policy you want. In India, there are two types of car insurance policies – Third-party Insurance and Comprehensive Insurance.

Third-party insurance is a mandatory requirement by law. It covers only damages to the third-party. Under third-party insurance, you do not get compensation for the damages to your car.

Once you are sure about the type of car insurance policy you need, it is a good practice to compare the plans from different insurance companies before making the purchase decision. You must compare the plans in terms of the sum insured, inclusions and exclusion of the policy, type of add-ons offered, claim process, deductibles, etc. Choose a plan that is cost-effective for the premium you pay.

A lot of first-time car insurance buyers tend to provide incorrect information about their age and driving history to reduce the premium amount. But such practices can prove to be a costly mistake at the time of filing a claim. If the insurer finds the information is misleading, your insurance will be cancelled. So, it advisable to be honest and provide accurate details in the application form.

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