Gear Up for the Unexpected: 8 key factors to consider when buying car insurance
In the ever-evolving landscape of auto insurance, finding the perfect coverage requires a thorough assessment of policy options. The concept of motor insurance continues to evolve, driven by rapid technological advancements. This dynamic environment presents both opportunities and challenges for the insurance industry to meet the unique needs of millennials and Gen Z.
Driving without a valid car insurance can lead to a hefty fine and even imprisonment. To avoid such situations, it is crucial to have a third-party insurance policy. If you are struggling to choose the right car insurance after purchasing a new car here’s your guide! Before you decide about which car insurance policy to go for, it is important to know that according to the Motor Vehicles Act, 1988, having a third-party liability car insurance policy is mandatory to drive your car (old or new) on any Indian road.
Also Read: 5 Simple Ways to Save on Your Car Insurance Premium
So, as a new car owner, one of your top priorities before hitting the road should be getting the right car insurance. Also protecting yourself from financial losses if you damage your own car or need hospitalisation due to an accident is equally essential.
However, with so many options available, it is difficult to decide which policy to ultimately buy. Choosing the right insurance policy involves considering several parameters and here are a few latest trends which you should consider before purchasing a policy.
With the emergence of innovative solutions like Pay-As-You-Drive (PAYD) insurance and the compulsory nature of third-party motor insurance, it is essential to understand your own requirements. No two drivers are alike in their driving habits and behaviour, leading to differing
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