With the advent of internet insurance world has become transparent and simple. It is advisable you can compare car insurance features, benefits, discounts etc. and then buy motor insurance online on the spot.
Don't let dealers take you for a ride on insurance world
Car insurance is mandatory by law in India. The optimum cover that you need to hold is the third party insurance. With number of companies introducing lucrative insurance packages and competition getting stiff each day some dealers and manufacturers come up with cashless car insurance for customers during festive season.
Regulations do not permit motor policies for tenure of more than a year. The dealers merely give an undertaking to fund the premium when the policy comes up for renewal. They might have made provisions for these payments.
These policies are like plain vanilla policies without add-on covers like depreciation, return of invoice, etc. You need to understand the scope of coverage being offered before signing up. Besides, since the dealer would have tied up with a particular insurance company to offer the package, your choice will be restricted.
That is why you should study the policy to find out whether it is merely a third-party cover, comprehensive policy or a fully-loaded package with add-on covers. The customer needs to study the coverage closely.
Also, if you are signing up for policy, find out how the dealer plans to honor the commitment. Motor insurance online policies offer various benefits, discounts and no-claim bonuses. Find out how a claim will affect the arrangement. Things could get complicated, so it is better to bargain for a cash discount instead of the bundled cover, if possible.