Car Insurance

Car insurance comes under personal finance, and when it comes to personal finance, everyone has an opinion. Sometimes, unsubstantiated opinions about car insurance can be passed on from one person to the next until they turn into myths. The thing about myths is that, to the uninitiated buyer, they are facts upon which purchase decisions will be made. This can be quite dangerous and result in major disappointments in the future. To keep this from happening to you, the following article will go over some of the most common myths about buying 4 wheeler insurance online to ensure you make smart & sound buying decisions.   1.     Older cars don’t need insurance First of all, not only is car insurance necessary but it is also mandatory by law to buy at least a basic policy for every car. So, whether your car is old or new, the Indian Motor Vehicle Act, 1961 makes it compulsory to buy motor insurance. Secondly, the reason that many people believ...

If you have owned a car for a long time, there is a chance that your insurance policy is nearing expiry. In the spirit of covering the basics, ensure that you renew your insurance policy, if you haven’t done already. Failure to do so can hurt you in two different ways. Firstly, it puts you on the wrong side of the law. Secondly, letting your car insurance expire puts you at risk of heavy financial losses. Contrary to popular belief, buying and renewing car insurance is not just an activity related to compliance. Car insurance actually proves quite useful in situations like car accidents or vandalism. Moreover, it is much easier to renew your car insurance now with car insurance renewal online. Here are some tips to do it right: Do it yourself The days where car insurance was as complicated as cooking are long gone. In fact, new-age insurance providers have made their offerings simple enough for you to get car insurance renewal online . Many car buyers follow the adv...

As discussed in the previous part of this article, the motor insurance industry has been changing rapidly in present times. Some of the future trends discussed previously include insurance premiums dependent on the driving etiquette of the buyer, insurance premium based on the previous credit history of the buyer and insurance policies for electric and self-driven cars. In this article, we discuss some of the other future trends in motor insurance:      ·         100% virtual claim process: One of the biggest improvements that have been made in the recent years in car insurance is in the claim filling process. The car insurance companies are now attempting to develop a virtual process that will take away all the tedious paperwork and will allow the policyholder to make a claim from his or her smartphone by making a video showing the damage done to his or her vehicle. This is probably the biggest change as far as the policyho...

Your car insurance policy document is an important piece of paper. But at the end of the day, it is still just a piece of paper – it is susceptible to lose and damage. Maybe you send your car/bike for a deep clean and remove all the documents from the vehicle, misplacing the policy document in the process. Or maybe some liquid spill destroys the policy documents – whatever the case is, the following article will tell you what you need to do to get a new policy document and continue riding/driving your car with complete peace of mind. First things first, file a police complaint. If your car insurance policy document is lost, one of the first things you need to do is approach the police and lodge an FIR. This is because your policy document is extremely important and, if lost, could be misused. Therefore it is best to inform the police quickly. Also, to apply for a duplicate policy document, you need an FIR. Place an advertisement in the local paper. Step two when ...

Car insurance renewal is no longer the daunting task it used to be. This is especially true if you’ve purchased your motor insurance plan from an InsureTech company. Such firms will do everything they can to make the process easier and ensure you are able to renew your policy with ease. However, there are certain things you need to bear in mind when your car insurance renewal date is around the corner. This article will highlight these points of consideration to ensure you renew your policy like a pro! To begin with, know that you can switch your insurance provider. Maybe a friend has told you about a better motor insurance plan or you are not satisfied with the customer support of your current provider. Whatever the case is, you can move to a new insurance provider. You can change the type of plan as well. Your policy is either a third party policy or a comprehensive plan. Maybe you opted for third party insurance not knowing what it was and because it was ch...