A comprehensive guide to choosing the right car insurance policy

livemint.com:

car insurance is also a legal requirement. And with a diversified insurance market that offers a variety of options, selecting the right car insurance policy can be challenging. Here is quick guide on the key factors you must consider when selecting a suitable insurance policy for your car: Before exploring insurance policies, it is important to assess your needs.

Consider factors such as the type of car you own, your driving habits, your budget, and the level of coverage you require. If you have a new or a luxury car, go for a comprehensive coverage that offers own damage and third-party cover. If your car is older or has a lower value, a third-party insurance policy might be enough.

You can also opt for a Pay as you Drive insurance if you do not drive frequently. It gives you coverage based on your mileage and usage; hence, the premium is also low. Insurance policies can vary significantly from one provider to another.

Do a thorough research to understand the reputation, financial stability, customer service, and claims processing efficiency of insurance companies. For easy and one-stop access, you can compare car insurance policies on Bajaj Finance Insurance Mall. Here you will find various car insurance policies at affordable price range offered by top motor insurance companies in India.

Different insurance policies offer varying coverage options. For example, a third-party car insurance is the most basic and legally mandated insurance in India. It covers only the damages caused by your vehicle to a third party, their vehicle or property.