The traditional process of buying or renewing a car insurance policy involves scheduling a call with your insurance agent or having to visit the insurance company’s office physically. Nowadays, all it takes is a few clicks, and a couple of minutes and you’re done. This article will help you discover the simple steps to buy car insurance online.
The world of insurance offers enough for you to comprehensively compare and buy the best car insurance which is tailor-made to your needs. So, don’t rush it, and make sure that you do your research before you do anything else. Following are a few basic parameters for a judicious comparison of multiple car insurance companies:
These were the most basic things you can do as a part of your research before buying a car policy. Make sure that you also read customer reviews about the insurance company so that you get the user’s point of view and can buy the best car insurance for your vehicle.
Done your research? Now is the time to filter the most appropriate car policy for you. Car insurance plans are fundamentally classified into the following 2 types:
Now that you have filtered out your preferred car insurance policy, everything else will seem to be a cakewalk. To speed up the process, make sure that you keep the following details handy before you begin with buying car insurance online:
Now is the time to log in to Policybazaar.com and start selecting your car details on the ‘Car Insurance’ section. Start by inputting the details you had kept ready previously. Keep in mind that the requested details might be different depending upon whether you’re buying a car insurance policy for the first time or renewing one.
Ensure that no mistakes are made while adding in your vehicle details as they can make a direct impact on the insurance amount to be paid by you.
Note: This step is only applicable to those who have opted for a comprehensive car insurance policy.
Once you have added all the requested details, you would now have to set an Insured Declared Value (IDV) for your vehicle.
Insured Declared Value is the total amount the insurance company will pay in the unfortunate incident of total loss or damage to your vehicle. You can increase or decrease the IDV as per your preference, however, please keep in mind that the amount of premium you will pay is directly proportional to the IDV you set for your vehicle. A higher IDV will attract higher a premium amount to be borne by you. Therefore, you can opt for an IDV that’s close to the current market value of your four-wheeler.
Now that you have set the appropriate IDV for your vehicle, you can choose add-on covers for your vehicle to enhance the overall coverage offered by the insurance policy. Following are the most useful add-on covers you can opt for:
As these covers are an addition to your basic motor insurance policy, please keep in mind that they will have an impact on the insurance payment required to be made by you online.
The final step involves making the payment via the preferred mode chosen by you. You will be directed to the payment page once you have completed filling all the details, set the IDV value, and chosen optional add-on covers to buy.
You can choose amongst multiple secured payment options including UPI (being the latest addition), credit cards, debit cards, and net banking for purchasing the insurance.
Once you complete making the payment, the insurer will share the policy with you over mail, in a PDF format, along with a payment acknowledgement.
Make sure that you keep multiple copies of this document as well as keep a mandatory physical copy with you while driving your insured vehicle.
So, this is how easy it is to buy car insurance policy online nowadays. Ensure renewing your insurance periodically so that it remains valid and legal. For comparing car insurance plans of the best car insurance companies online, you can visit the official website of Policybazaar Insurance Aggregators Private Limited and choose the desired plan.
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