Planning to buy a

Car Insurance?

Look for these details before you buy

Car insurance is not just mandatory, but necessary to protect your car. So, keep these tips in mind when buying one.

Know what is covered and what isn’t

Insurance policies usually cover injuries in an accident, damage to your car, third party etc. Check all inclusions and exclusions before finalising a policy.

Get a comprehensive cover

Apart from insuring you and your car in an accident, this type of policy can cover various other situations like vehicle theft, fire etc.

Look for additional coverage

Some add-on options you can select based on your needs include zero depreciation, Road Side Assistance (RSA) and NCB (No Claim Bonus) protection.

Voluntary deductibles

Opting for this feature means you agree to share the costs with your insurer, in case of any repairs. In case of voluntary deductibles, the premium will be lower.

Check the Insured Declared Value (IDV)

IDV is the maximum amount an insurance company will pay you in case of complete loss of your vehicle. IDV differs for different cars; based on the age and model of the car.

Claim Settlement Ratio

This is the number of claims approved by an insurance company, divided by the total number of claims received by that insurer.

Always compare

There are many websites that can assist you when it comes to choosing a suitable car insurance policy. Compare different policies to ensure you get optimum protection.

Disclaimer: This infographic is intended for general information purposes only and should not be construed as investment, insurance, tax or legal advice. You are encouraged to separately obtain independent advice when making decisions in these areas