An Easy Guide to Choosing Car Insurance for First-Time Buyers

Bought a car for the first and now your insurance renewal date is coming soon? Well, purchasing a car insurance policy for first time car owners is always overwhelming as there are a lot of aspects that are required to be considered. From the insurance coverage, add-ons and more, there are several factors to keep in mind, which at times become really confusing.

To help you deal with the easy car insurance purchase and renewal process, we have brought this guide with detailed explanations. With new-age insurers like ACKO India the process is now quite simplified, making it easier for first-time buyers to explore and understand car insurance online.

So, keep reading to know everything in detail.

Importance of Choosing the Right Car Insurance

Choosing a proper vehicle insurance policy helps in protecting against different unexpected financial burdens. In case you face an accident, comprehensive coverage helps to cover the costs of vehicle repairs, property damage and medical expenses. This also includes any third-party liabilities, offering financial protection against claims from others.

It is important to understand that a proper insurance plan mostly offers peace of mind while driving and must also be affordable and tailored to your requirements. Different plans also provide you with add-on options like protection against natural calamities or roadside assistance. Make sure to carefully review your policy, compare different features and ensure to understand the terms and conditions.

Ways to Purchase Car Insurance for Your First Car

Purchasing car insurance while you are a first-time buyer is not complicated. Once you finalise the plan or insurer, there are two methods to follow for purchasing a policy: offline and online. Both of these methods have their own advantages and disadvantages. However, it is advisable to purchase car insurance after a thorough comparison of prices from different car insurance companies online.

To purchase a vehicle insurance policy online, you need to do the following:

1. Go to the mobile application or official website of your insurance provider.

2. Provide your car details.

3. Select the type of car insurance you want to purchase (comprehensive, third-party or own damage).

4. Select any add-ons for your policy.

5. Complete the payment of the premium.

And, done! Your policy documents will be sent to your email ID or registered phone number.

Things to Keep in Mind While Choosing Insurance for Your New Car

Now that you are a first-time buyer of a brand-new car, here are the simple tips to keep in mind while choosing the right car insurance:

• Do Not Depend Solely on Dealers

Many car dealers promote insurance policies that earn them money from commissions. You might find that these are not the best choice for your situation. You should try to look into your options by yourself. Review the websites of car insurance companies, consider their offered benefits and look at reviews before signing up.

• Know Your Needs

When choosing a car insurance policy, keep in mind how frequently you drive, the location of your home and possible risks you may encounter. If you live in a place prone to theft or floods, select plans that include coverage for them. By assessing your location and how often you drive, you can buy the most fitting car insurance.

• Thorough Comparison of Plans

Do not accept the initial plan you come across. Check the price, scope of the policy, how to file a claim and the reviews others have left for the insurance provider. Choose the best providers by checking the options provided by comparison tools online. Paying less on premiums might result in poor customer care support or less coverage, so make sure to go through everything before you sign up.

• Choose Add-ons Wisely

Engine protection and zero depreciation add-ons cover more, but will cost more as well. Go for tyres that fit well with your car. Putting engine protection in your car will help you if you live in an area prone to wet weather. Try not to add extra features that are not necessary to your insurance plan.

• Know Your Insurer

While purchasing the auto insurance, a key factor to consider is the insurance provider. Thoroughly research about the insurance company, their claim settlement ratio, terms and conditions and customer ratings to get an idea how much it is feasible for your requirement. make sure to choose a company with an efficient and easy claim settlement process. A reliable insurance provider comes handy during your emergency.

Final Thoughts

Selecting a proper car insurance policy, especially if you are a first time buyer can be confusing. However, once you familiarise yourself with the coverages, premiums, add-ons and align them with your requirement and budget, the process does not seem to be too overwhelming. Remember that insurance is not only a legal requirement but rather a smart step towards car ownership!