Type Here to Get Search Results !

Know the rules before insuring a car | Car Insurance

Know the rules before insuring a car

If you know the policy before buying a car, you will reduce the risk and if you can make a suitable policy, the safety of the car will be doubled. Let's take a look at the different terms of the policy ...

Although buying a car is not very expensive nowadays, many owners rush to insure their car after buying it. Car insurance is a really difficult task. The car policy is based on what kind of four-wheeler you are buying, the driving condition of the car, how skilled the driver is in driving.

If you know about the policy before buying a car, you will reduce the risk and if you can make a suitable policy, the safety of the car will be doubled. Let's take a look at the different terms of the policy 

Policy Tenure: The policy tenure is how long a car has a policy. Usually the car policy has a maximum limit of 1 year. But now some companies are offering insurance policies for 3 to 5 years to lure customers.

IDV: The whole point of IDV is Insured Declared Value. IDV fixes the amount of money that can be obtained in case of theft or accident of the car. If the car is repaired at a higher price than the IDV or if the car is stolen, the insurer has to pay only the price of the IDV.

In addition to these two, there are 5 other types of insurance coverage in the market. Let's take a look at them in short.

Liability Coverage: This insurance coverage works only when it is seen that the driver of the vehicle is responsible for the car accident. Through this coverage the third party takes the medical expenses of his hospital along with the repair of the damaged vehicle. This coverage also covers third party injuries, deaths or vehicle damage.

Collision coverage; If a car owner is covered by this coverage, the insurance company bears the cost of repairing the car.

Personal Injury Coverage: This coverage is taken by all car owners. This coverage covers all hospital related expenses of the driver of the damaged vehicle and other passengers. No matter who is at fault, the insurance company has to take the responsibility of paying the medical bill.

Uninsured Motorist Protection: If a vehicle is damaged by a collision with another vehicle, and it is found that the guilty vehicle has no insurance policy, the owner of that vehicle has to pay compensation.

Comprehensive coverage: This coverage covers all types of damage to the vehicle. The benefits of coverage include, damaged car, driver, passenger, another vehicle involved in the accident, the driver of that car also, benefits due to weather, flood, fire or theft. This coverage is effective in any damage to the vehicle other than collisions.

Tags

Post a Comment

0 Comments
* Please Don't Spam Here. All the Comments are Reviewed by Admin.

Top Post Ad

Below Post Ad