Car Insurance

Car insurance is much more expensive than two-wheeler insurance. In fact, the average single year, a comprehensive policy will set you back around Rs. 10,000-15,000/- and that’s a conservative estimate. However, every penny you spend is worth it as you are buying yourself a financial safety net that will help you bounce back from the financial impact of an accident. It is only a problem when people end-up overpaying for this financial safety because of simple errors due to lack of understanding or clarity during the purchase process. This results in a waste of money and is a mismatch of cover as well. However, you can avoid all of this by NOT making the 5 purchase errors mentioned in this article. 1. Setting a high IDV when buying car insurance . When you buy a policy, you have to set the Insured Declared Value or IDV of your policy. IDV is simply the market value of your car insurance and is the amount your insurance company will provide in case of a total loss or theft of yo