Car Insurance

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...

Along with the growing percentage of vehicles in India, the importance of road safety has also increased. This is why getting motor insurance has been stressed up on; it keeps motor vehicle users protected from financial damages that might arise after an accident or mishap. Having a third party car insurance is regarded as a compulsory measure by the Law and using an uninsured vehicle is punishable. Motor insurances work as a tool when one is affected financially by an accident or other man-made or natural calamity. Essentially, insurance is taken to get a cover in times of vehicular damages. However, it is not always suggested to claim the insurance amount. It’s confusing but believe it or not, there are occasions when it is better not to make a claim against your insurance! Here are 3 of these occasions. 1.        In case of minor damages It goes without saying, accidents lead to vehicular damages. However, in many cases, the damages t...

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...