Why Your Second Vehicle Needs Insurance Too

Insurance companies often come across instances of second hand car insurance claims, where the new owner claims for damages to the vehicle without having transferred the insurance policy in his name after the purchase. The claim however is not admissible in the absence of a valid contract between the insurance company and the new owner of the vehicle. In a recent case, the Pune Consumer Court ruled in favour of the insurance company and upheld the insurer's decision of not paying the claim to a second hand vehicle owner since he had not transferred the insurance policy to his name. The Court ruled that an insurance policy is a contract between a policy holder and an insurer. In the absence of the new vehicle owner's name on the motor insurance policy, there exists no valid contract between him and the insurance company. Hence any accidental damage suffered by the new owner is not admissible under the previous policy.

Owing to low awareness on insurance amongst the general public instances of post loss insurance grievances in such scenarios are common place in India. Hence it is important for individuals who have purchased or are looking at buying a second hand vehicle, to know that transfer of insurance is an equally critical aspect of the buying process and should not be ignored or procrastinated. Also, the individuals who sell their vehicle have an equal responsibility to ensure that the insurance is transferred in the new owners name to avoid any legal hassles that may arise in the future. Here we shall explain how not transferring of insurance will impact both the buyer and the seller of the motor vehicle. We shall also demystify for you the procedure of ensuring a seamless insurance transfer.

To begin with it is important to understand the structure of a motor insurance policy. A comprehensive motor insurance policy comprises of two parts - Own Damage (OD) and Third Party (TP). Whereas TP section covers damages caused by your vehicle to a third person and are mandated by law, OD section covers damages caused to your vehicle owing to any accidental mishap. After purchasing a used car, Section 157 of the Motor Vehicle Act casts a duty on the new vehicle owner to get the insurance policy transferred in his name by applying to the insurance company within the first 14 days. For these 14 days, only the "Third Party" section of the insurance policy gets automatically transferred. However, it does not apply to the Own Damage section of the policy. The "Own Damage" section will be transferred only after the insurance policy gets registered under the new owner's name. Post this 14 day period, if the new owner fails to get the insurance policy transferred in his/her name the insurance company is not liable to bear any losses incurred by new owner in either of the TP/OD sections.

If the insurance is not transferred and the policy still bears the name of the first owner, in case of an accident the claim for damages to the vehicle or third party will not be paid by the insurance company. Moreover, the court may also send the first owner a notice to compensate for the loss caused to a third party, for an accident caused by the new owner. The whole process of establishing the proofs of sale, the transfer of vehicle RC etc. by the previous owner can be a grueling exercise. This can be easily avoided if both as a seller and a buyer of a second hand vehicle, one insists on getting the insurance policy transferred to the new owner's name immediately after the sale deed is finalized.

Some ways to reduce Motor insurance Premium

While choosing a motor insurance policy one should be aware that your policy has two components – own damage and third party damages. Your premium will be based on these two components of the insurance cover. People look to save money on the insurance premium. Those who wish to lower their premium should understand that only the own damage premium part is under your control and third party premium is prefixed by the regulator so it’s same for all plans by various insurance providers.

The article gives some tips to control the costs you pay for your own damage motor insurance:

No Claim Bonus – Every time you complete your car insurance year without a single claim you’re rewarded with No Claim Bonus points. You can redeem the points against the claim amount or premium reduction. So check and see if you can avail of this benefit. If yes, then the discount will be deducted from your premium and you have to pay less for the current year. It is advisable, don’t claim for petty scratches or dent. Instead, accumulate your bonus points and go for higher claim or discounts. The other way to keep your NCB intact would be applying for add on cover for NCB protection. Though you may need to pay a bit extra on your premium but it is always a valuable protection. It helps to reinstate your NCB to a certain measure.

Garage Repair – Every motor insurance company has its own network of garages where you can avail cashless repairs. Network garage offer services at cheaper rates compared to your local shop. These deals are 20% lower compared to a local garage. A lower cost of repair means a lower depreciating value of your car or bike. Taking your motor to a network garage helps you get a negotiated deal on repair costs.

Long-Term insurance policy - Keeping in mind the huge growth opportunities and high FDI flow, the government has decided to boost the two-wheeler insurance segment. They have launched the first three-year comprehensive cover for scooters and motorcycles. The comprehensive cover is 30 percent cheaper than buying annual policies and comes with lucrative offers for the buyers. The best part of a long term policy is that the third party insurance premium and the service tax hikes would not affect the premium of the policy.

Voluntary Deductible – A voluntary deductible means you will have to pay a part of the claim whenever the situation of claim arises. The part of the claim you promise to pay decides the costs of the premium for the rest of the cover. If you opt for this option it will help you lower the premium rate.

It is advisable, if they are small dents or scratches don’t make a claim. It will affect your no claim bonus in the long run and you won’t be able to reduce the premium or make higher claims. Prudent and smart strategies will always help you to keep the premium lower so it proves easier on your pocket.

Online comparison always helps to get better motor insurance deals. You can get multiple quotes from a single window. Based on the comparison of policy in terms of benefits & features, discounts, claim settlement ratio, etc. you can choose the one that fits your needs and budget.

Why car insurance policy is so important in India?

An importance of car insurance is felt the most when you're at a workshop, getting your car repair because of an accident or at the police station when it gets stolen. In both cases, a proper insurance cover would have helped you come out of the financial crisis due to such unforeseen events. Insurance cover helps individual to take care of financial crisis if there is any damage done to your car due to the accident, fire, theft, or other natural perils else if it gets stolen.

In India, there are two types of cover - third party & comprehensive cover. A third party insurance cover takes care of the damage done to the third party in terms of property or health loss, a comprehensive cover will take care of the damage done to both party i.e. third party damage and your car damage or injury. Standard car insurance will reimburse your loss; however, if you still feel the pinch in your pockets then there are add-on covers that come into the picture.

All general insurance companies offer a range of optional cover that gives additional protection to your car along with the base car coverage. So, here are some tips to consider about different types of add-on covers and how useful they prove to provide that extra financial cover for your car.

Road Assistance Cover

It proves a very useful cover, especially when your car runs out of fuel, gets a flat tyre or break down due to any reason. The insurance company will arrange for fuel refilling, change the flat tyre or get it towed to nearest workshop.

Zero depreciation

A standard car insurance policy will reimburse the depreciating value of the car parts damaged during an accident. The insurer will deduct the depreciated value from the claim. Although it may not be a problem for low priced cars the high-end cars will go for a toss. This is where zero depreciation comes into the action. A zero depreciation add-on cover will reimburse the full value of the part. Bear in mind that if you have made a car cover claim in the past few years, zero depreciation cover doesn’t make sense.

Engine Protect

When you read fine prints carefully of any car insurance policy, you will discover that own damage doesn’t include damage caused to the engine because of any negligence of wear and tear. Suppose there is car standing in a water-logged area and you turn on the ignition, chances would be the engine gets damaged or if your run car without engine oil, it will damage your engine. At this point for such careless mistakes, it's an engine protect add-on cover that comes to savior for the people. It covers engine damage not caused by an accident. Insurer expert suggests it's worth buying it as the cost of repairing the engine can be quite high.

Consumable Cover

After an accident, car repair takes up a lot of consumable like engine oil, brake settings, fluids, coolants, minor nuts & bolts. These small expenses can push your bill quite significantly. A consumable cover will help you keep the expense under control and pay up for the costs.

Accidental cover

An accidental cover provides compensation to the passengers in case of death or permanent disability caused due to an accident. The coverage amount varies across insurers. You can call up the customer service team of the relevant insurer and get things clarified before including this add-on in your car insurance policy.

How to effectively administer your Company’s Corporate Motor Insurance Scheme

When you are not primarily an insurance company, administering a corporate motor insurance scheme can be a very serious challenge. This becomes even harder if you have a large fleet of company cars, in addition to a staff motor insurance scheme mediated by the company. Insurance, especially when handling claims, can be such a hustle for someone who is primarily in Administration, Finance, Procurement, or HR, depending on the company. We have prepare a small cheat sheet that can help you to take charge of your company’s motor Insurance Scheme and give you that satisfaction of being “on top of things” Here is the list

1. Take Charge!

The number one cause of stress for employees who manage motor vehicle insurance issues is lack of clarity on who is in charge of what. The process of coordinating motor insurance concerns usually involves at least all the departments we listed above, and depending on the organization, the person who is in charge may be in any one these departments. If you are involved in the process but it is unclear who exactly is in charge, then you have two options. First, you can decide to seek clarity from your boss as to where the buck stops when it comes to the company’s motor insurance scheme. If your boss doesn’t know, you may be in trouble, but work towards clarifying who is in charge of it. The second option is to take charge. Many workers fear additional responsibilities and then go ahead to waste good energy scheming how to avoid the work. If you take charge of it, officially or otherwise, you will have control over it and it will make it easier to administer the scheme.

2. Draw a Map

Secondly, draw a process map that shows how each process should be handled. If you are not into maps, you can use a list showing all steps each case goes thorough before it is resolved. Process maps (or their equivalent) can help you to

Figure out what needs to happen at every stage and are a good way of measuring your progress down the line. The only predictable thing when it comes to insurance is when you need to pay your premiums. You can never plan when to make claims because they result from accidental events. A process map will make you ready to handle any unforeseen situation with clarity, and without the need to figure out everything each time something happens.

3. Use Checklists

The beauty of everything in insurance is that the processes used by insurance companies are very well mapped out. It is possible to develop checklists to help you handle every claims process, or every motor insurance procurement process. Checklists will help you to be certain that you have done everything required, and you will not need to spend time thinking through every process you need handle. For instance, you may have all the documents needed to file an application for motor insurance cover committed to memory. If you do not translate that to a checklist, you may miss one of the important documents simply because you have no method of verifying that you have filed all documents. Then again, since you don’t fill these forms on a daily basis, it is easy to forget a small detail in the forms. A checklist will eliminate all the stress you may experience in such situations.

4. Keep all Relevant Documents at Hand

This tip is almost a no brainer, but most people simply assume that they have access to everything they need. Imagine you are applying for motor insurance for company cars, or your company has hired a new manager who is supposed to be enjoined in your company’s motor insurance scheme. Would you prefer to go searching for the proposal forms in last year’s emails or would you prefer getting the forms from a folder on your computer called, “Insurance forms”? Collect all relevant documents and keep them in a folder that is easily accessible so that you save the time you otherwise will spend trying to locate important documents. At the risk of being repetitive, it should be noted that accidents do not follow a schedule, and hence you need to have everything at hand in anticipation for any eventualities.

5. Use Productivity Tools Such as Online Quote Form

If you are charged with procuring insurance for new employees, you will benefit a lot from productivity tools that make it easier for you to get the job done. For instance, you can easily get insurance quotes from several insurance companies in Kenya by simply filling the auto insurance quote. The form will make it possible for you to compare quotes in real time, and will make it easy to submit your contact details to an insurance company of your choice. From then on, the motor insurance company will get in touch with you to process your application. Using such productivity tools can drastically ease the entire work of administering your company’s motor insurance scheme.

6. Build a Relationship with your Insurance Agent

Another tip that you can use to make it easy for you to administer your motor insurance scheme is to forge a strong relationship with your insurance agent. Your agent can help you to hasten the processing of your applications and your claims. Just get in touch periodically whether you have any needs or not. Send thank you messages, share calendars and jokes, and generally show concern for them. When the inevitable happens, you will have an ally. 

7. Educate your Staff

The final tip we have is for you to educate you staff in insurance matters. Make a point of raising one motor insurance related issue with all members of staff at least once a week. Education in this case does not mean organizing training seminars to talk about motor insurance. What it means is that you empower your staff members to make smart choices around insurance issues. If they need your intervention less because you have empowered them, you will have succeeded in making you auto insurance scheme easier to administer. You can do this by sending then interesting articles on mail, sharing insurance resources, and having personal discussion on insurance with those who make queries.

[Source: http://www.insureafrika.com/car-insurance/basics/how-to-effectively-administer-your-companys-corporate-motor-insurance-scheme]

Why Should You Have Vehicle Insurance?

Factors to consider while deciding your car value

Protecting your car against damages due to traffic accidents, its liabilities like third party damages, own damage, damages due to natural or man-made incidence is termed as car insurance. An insurance policy also provides for accident cover of the policyholder while driving including the passengers. It also encompasses third party liability which is injury/death or property damage that the driver has to pay.

It’s a mandate by the government of India to buy a suitable car cover to driver your vehicle on road. Most insurance companies have a tie-up with the car dealers and they offer quotes along with the purchase value of the car. 

While deciding upon the cover value there are a lot of factors taken into consideration like car make and model, place of living, occupation, car parking area, security aspects, etc.

However one of the key factors is Insurer’s Declared Value (IDV). It is the sum of the value decided by the insurance firm after careful examination of the car. Not to be mistaken, it can’t be the exact purchase value of your car. Insurance company’s surveyor will go through the car inspection with company norms and quote a cover value to be offered to the insured person during a claim.

Some other factors deciding the value of the car insurance policy:

Age of the Car

As the car gets depreciated every year, the insurance value of the car will also reduce. Hence, during insurance renewal, you have to ensure that you have enough cover amount to bridge up the financial losses. 

Purpose

A self-driven vehicle used for the personal purpose will have lower premium compare to the ones used for business purposes.

Accidents

If the car and its driver are involved in frequent accidents in the past, the premium will higher. As the policies get renewed every year, any accident in this span will also result in a higher premiums rate.

Previously on public sector companies used to offer motor insurance but because of the entry of private sector insurance firms, there are varied innovative policies being sold in the markets. You can choose the policies as per your benefits and premium paying capacity. Also, online car insurance deals are quite exciting and come with loads of discounts with no involvement of agents.

As of now, car insurance sector is booming and companies are targeting the existing and potential customers with innovative policies. It is evolving and a lot of features are being introduced that will influence the premium each year.

The careful comparison is the key for a quality insurance product. You can compare policies in terms of benefits & features, discounts, premium cost, claim settlement, policy terms, and conditions, inclusion & exclusion, premium payment modes, etc. Once done you can narrow down the search to 3 to 4 good insurance policies and choose a particular one for your car. Also, ensure that you read terms and conditions, inclusion & exclusion well before you purchase the policy. At any point of time, if you doubt regarding the policy structure, call up the customer service team or visit online and have thorough chat to clear the clouds in your minds.

In case of policy lapse, your insurance provider gives a grace period of usually fortnight’s time. Post this period you might run the risk of driving a car without insurance. So, it's always better to renewal policy at least a month prior to ensure that you’re safely sheltered under suitable car insurance.  

Car Insurance Comparison How it Works

How can we help you with vehicle insurance today?

Some basic checks while choosing car policy

An unfortunate incidence can occur anytime and anywhere, even an experienced driver cannot avoid the risk factor while driving in spite of not being at fault.  In today’s time of rising inflation costs, even a minor accident or a slight bump can result in huge repair costs. The only way to be prepared for such circumstances would own a suitable auto insurance cover.

Car insurance covers you against losses that might occur due to theft, damage due to accidents, natural incidences like fire, earthquake, storm, etc. or vandalism and theft. You will have to pay a certain amount as premium costs to the insurance company and you get an assured sum when you’re in dire needs.

Owning car insurance is mandatory if you wish to drive your vehicle on roads. It could be tricky if you’re unable to choose the right cover and the right insurer. Here are some basic checks while choosing your car insurance policy:

Assess

Before you buy an insurance policy, it’s essential to understand the types of covers available in India. There are two types of cover third-party liability and comprehensive cover. It would be wise to analyze and decide the amount of cover you need. No need to unnecessary adds-on on your policy.

While deciding on your coverage needs, ensure you choose amount equivalents to the total value of your car. While it's not good paying unnecessarily high premiums but it’s also unsafe to be underinsured as you will have to shell money out of your pockets. 

Compare

It would be the next wise step to compare the quotes before purchasing an insurance policy as it will help you save hefty amount and provide better coverage options as well. Comparison platform allows you to do a detailed comparison between insurance companies on the basis of their financial track, claim settlement, reputation, market value, etc. You can visit online forum sites to check customer review, talk to friends or family members on company performance. This comparison will help you save around 30% to 40% on the premium costs.

Look for Discounts

You should constantly be on a hunt for a discount that can reduce your premium and make it easier on your pockets. Factors like good driving records, anti-theft system, paying from particular credit/debit card, festive offers can fetch you good discounts. Make sure you explore all the available options about your car before buying the insurance policy. Don’t go for additional purchase and increase unnecessary costs on your premium.

Add-ons

Add-ons help to customize your car insurance cover as per your need and requirements. Insurance provides you with tailored solutions that specifically suit your needs based on details like the age of your vehicle, make and model, registration, and other factors. Experts say invest a small amount of money for additional benefits like zero depreciation, roadside assistance, engine cover, and personal cover. It may increase your premium to a slight extent but offer wider coverage both to you and your car.

Don’t Undervalue

Premiums of your car insurance are decided on the based on Insured Declared Value (IDV) of your vehicle. You can increase or decrease the IDV of your vehicle as per your premium needs. But expert say don’t undervalue your car as it can create issues during a claim. It will give low coverage amount.  So, compare policies online and buy the best insurance deal for your motor vehicle!

Types of Motor Vehicle insurance Policies in India

Since its invention, the vehicle has proved to be a great gift to mankind. It not only offers comfort but gives you a sense of power. But, we all know, with great powers, great responsibilities are associated. And in this case, a major responsibility is buying a vehicle insurance policy.

Why is it Important?

As per the Motor Vehicle Act of Indian legal system, third party liability insurance is compulsory for every vehicle that runs on the road. Permanent injury or/and death of a third party is covered by third party insurance. Damage to a property of third party also comes under this liability. An individual has to pay a fine of up to Rs. 2000 or serve the term of 3 years in jail or both if his/her vehicle is not insured.

If we talk about the benefits to the vehicle owner, s/he gets rid of the worries related to repair in case of an accident. Not only a lot of money is saved, but the hassles related to the repair process are also managed. A lot of companies are also offering roadside assistance to help the car drivers in case an accident takes place. The vehicles are also covered against natural disasters and human calamities, which further adds to the importance of insurance.

By the type of vehicle on the roads, there are three types of motor insurance popular in India.

Car Insurance

With India being the sixth largest manufacturer of cars in the India, the number of cars on the roads ought to be massive. This is also the reason car insurance is the most popular form of motor insurance in

the country. The car insurance covers legal liability to a third party due to accidental damages. Damage or loss to a vehicle due to man-made or natural calamities is also covered in most of the policies. The policies also offer personal accident cover, along with optional cover for co-passengers.

A lot of car manufacturing companies are offering insurance in a bundled form with the new cars. Let’s have a look at some major features of car insurance policies available in the market.

[Source: https://www.comparepolicy.com/blogs/types-of-motor-vehicle-insurance-policies-in-india/]

Key factors to look for in a motor insurance

With any policy document the major part of it is the legal terminology. As most of us aren’t familiar with the legal terminologies stated in the documents we often misread or misunderstand some aspects of the insurance. The same thing happens in motor insurance policies. The individual end up buying a motor insurance policy with limited knowledge and understanding of the coverage and eventually face problems while the claim settlement. However all the companies having a website available with complete product details, it has become easy for any individual to understand various aspects of the motor insurance policy. Moreover with the insurance compare websites, the individual not only buys a motor insurance but also gets a better idea and understanding  of the features if  the policy. He can also compare the similar insurance plans offered by different companies in the market. But to ensure that you are getting the best motor insurance online the individual must consider some key factors which are stated below:

What are the key factors an individual should look for? Take a look.

Cheap isn’t always the best:  motor insurance premiums play an important role in the mind of the insurance buyers. The rate of the premium is something that an individual should look at before deciding on which insurance to buy from which agent, but it is not the only singular factor.  Due to the concerns around the affordability, most of the individuals opt for cheap and affordable policies which turn out to be heavy on their pocket in the claim situation. The cheap insurance may not always provide sufficient coverage in case of the unseen circumstances.

Comparing of different features of different car policies:  the sole purpose of getting a motor insurance is to protect you against the financial loss in a situation of crisis like an accident or any mishap. Therefore make sure that you have conducted a comparative study of benefits along with the benefits of different car insurance policies available. A comparative study will not only help you  in getting an affordable car insurance premium but you may also find you more benefits in form of coverage and the claim settlement.

Opt for deductibles when you buy a car insurance policy: by including the deductibles in the car insurance policy he tends to automatically reduce the premium amount. As a result the individual needs to pay fewer premiums which would have otherwise gotten higher.

Look for discounts: when the person is doing comparison for the motor insurance, enquire about the discounts that are available on the motor policies which suit your budget. Also look for the eligibility criteria for the same.

Claims settlement ratio:  At the end of the day the key purpose of the motor insurance is to give you financial security during the crisis situation like accident. Therefore before the individual needs to pay for car insurance premium ensure that the insurance company you are planning to choose has a good claim service record so that you are not disappointed at the time of the claims. 

How can we help you with car insurance today?

Our service lets you compare multiple insurance brands in one quick and easy search, and we provide much more than the price of the policy - we show you the levels of cover so that you can make a more informed decision.

To obtain a car insurance quote, fill out our simple-to-use forms with your basic personal details, plus information on the vehicle to be insured and the drivers you want on the policy.

Be ready to input the number plate (if known), estimated car value and annual mileage, your length of no claims bonus, the type of use the vehicle will be put to, details of accidents and/or convictions in the last five years and of your occupation.

To help narrow down your search you can choose your preferred level of voluntary excess, whether you want to protect your no claims bonus and if you'd prefer to pay annually or monthly, with the policy options available for comparison and customization on our quotes screen.

Whether you're looking for comprehensive insurance, third party fire and theft, or third party only, and whether it's for one car or multiple vehicles, our service makes it easy to find the product that you want, with the latest information from independent financial research and software company Defaqto available to ensure you know exactly what you're getting from your purchase.

You can learn more about the difference between such policies in our car insurance guides, where you'll also find the answers to frequently asked questions.

Our guides offer more information on key areas such as telematics (black box) policies, and cover for women drivers, older motorists, modified and performance cars, young drivers, classic cars, and learner and new drivers.

There's also plenty to read on wider motoring and insurance issues, including vehicle security, flood cover, optional extras on your insurance, fronting, crash-for-cash, how quotes are calculated, claim rejections, how driving convictions impact on premiums and money-saving tips, and we can help you find the insurance group of your vehicle or of a potential purchase.

[Source: http://www.gocompare.com/car-insurance/#2MgvGtOKyj3uIShW.97]

This device will price your car insurance

A Few Facts About Vehicle Insurance

Insurance Policies for Your Car

Owning a car is an awesome feeling for many. It plays with the instinct to pamper yourself with the very best automobile within your reach. With this comes the headache of insurance and other legalities attached. In Maryland, if you own a car, then you have to opt for a good insurance agent. Car insurance in Maryland is not difficult to find though, but one will have to choose from copious options to get the best rate. Don’t forget to study the rates from various other car insurance companies to avail the fittest. After careful musing over internet data or referrals one can halt at one option for their car insurance in Maryland.

You know what the best part is? Be it a small car or a big car, any person can get or request car insurance in Maryland at the best rate from the authorized insurance companies or from online websites. These companies offer multiple auto insurance quotes from numerous other car auto companies all over the region. A car owners have easy access to the internet for car insurance procedures, thus there’s no need to go to the insurance provider’s office. Wow that is amazing, a person can relax at home and let internet do the job for them.

The car insurance rates are undoubtedly something that one should be concerned about all the time. There are, in reality, quite a few points where you may not be able to bring down the insurance costs or save lot of money. But with few pointers you may be able to make the right choice and save some well-earned dollars in the process. It's actually nice to understand that there are few important factors which can impact the way you pay the car insurance companies. To simplify these factors consists like:

The actual age of the automobile

Your driving record

The make and kind of vehicle you own

Another important factor is the miles you drive yearly

Understanding the regional characteristics is also crucial for example which location you are residing in.

Make sure you know the rest of the drivers involved or listed in the car insurance policy

Your exact credit score is also marked

Lastly, the entire coverage you receive

Certainly by enhancing the credit score of your funds, upholding efficient driving record and proper driving lessons will lessen your total costs. Additionally, while going to shop a vehicle one shall find out the cost incurred to actually understand the overall costs and to check if it is affordable or not.

Furthermore, to avail immediate savings, one should quickly shop around, even if you have a car insurance just to understand the scenario. See it is very simple, I’m not insisting you to shop and spend a lot, and it is by taking help pf the internet, you will get the quotes that will help you to take wise decisions.

Eventually it is a heck of a pain for a person to simplify the entire process of car insurance in Maryland. But there are number of good car insurance companies in Maryland that can ease you out totally.

[Source: http://articles.abilogic.com/136169/insurance-policies-your-car.html]

Car Insurance the best way to protect you against financial loss

Benefits of Purchasing Car Insurance Online

With the development of Internet and e-commerce, plenty of companies are now moving their own business to the Internet, not only the Internet has well development in recent years but also make many industry found his new way on the Internet, even though people used to think that some live services must not be achieved online such as the meal, haircut, etc. However, these industries have a new model of their own today and they are growing very fast. What is more, when the insurance industry goes into thee-commerce, for example, a lot of people think car insurance online is unsafe.
Although, before that it is not accepted by many people, it still has a certain market position. Therefore, come to see some benefits when you purchase it online.

To begin with, certainly, in order to attract more drivers to become their clients, car insurance companies try their best to let everyone know that car insurance can purchase online. So, this seems an advertisement to tell people purchase online car insurance is cheaper than offline. Furthermore, it saves our a large proportion of labor costs and the intermediate link, the motorists you only need to fill in the relevant information on the Internet so both you and your car will have a good protection.
What is more, purchasing it online we can enjoy the favorable that we ever never touch offline, for example, the first time the user can enjoy the purchase of the maximum 10% of the preferential costs. In addition, our life is inseparable from the Internet, when you buy car insurance online, only need you gently move the mouse in front of your computer that your car is a guarantee which fully realized the docking of the car with the Internet.

Last but not the least, we take into consideration that different insurance companies have different quotes and price. The online application for car insurance, all the processes and the cost is transparent, in addition to the shortcut and convenient, the information on the Internet is all open, as long as you have a certain understanding of car insurance.

Purchasing car insurance online is another way to let you choose a better one. Although many people think that online shopping there still have a lot of security holes, but with the constant improvement of e-commerce and law, the Internet will be more close to people's life.

Compare Car Insurance Online To Grabe The Best Deal

Your Vehicle Insurance Is Critically Important

How To Purches A Better Motor Insurance Policy

How Telematics can help you get a lower rate on your Auto Insurance

Everyone likes saving money - why else would we cut coupons or shop at those big-box stores? Well, what if we told you there was a way that you could be saving money on your auto insurance? And it’s easy. So what is it? Telematics.

What is telematics? Think of it like the little black box on an airplane. Your insurance company inserts one of these devices into your vehicle and it monitors the following:

Number of miles you drive

Speed

How quickly (and often) you brake – i.e. the smoothness of your ride

What types of roads you travel on

What time of day or night you are driving

Why is this information useful? It helps us, you car insurance company, evaluate just how safe of a driver you are. Do you speed regularly? Or slam on the brakes a lot? Do you do most of your driving during rush hour on the freeway? We compile all of this information and use it to adjust your auto insurance premium. Safer drivers are typically rewarded with lower rates, although there is no penalty for drivers who aren’t so safe.

But there are other reasons we value these telematics devices. For starters, they can help us settle your accident claims faster. We can take the information from your little black box and use it to determine the speed you were driving at the time of the accident or how quickly you had to brake. Not only that, but the GPS on it helps to cut down on theft and help us get your car back. insurance

There is also a societal benefit to telematics: People are more likely to drive safe when they know their driving is being monitored – they are more likely to obey speed limits and traffic signs. And hey, we’re all about making our roads a safer place!

[Source: http://www.texaninsurance.com/client-service/blog/entryid/6136/how-telematics-can-help-you-get-a-lower-rate-on-your-auto-insurance]

buying or selling your car insurance can make or break the deal

Tips To Enjoy Cheap Car Insurance In India

You have purchased a new car and are very happy with its glitzy look and super performance. Then one fine evening your car receives a slight scratch and after a few days you notice a small dent on the door. After a few months your car starts showing some more problems which puts you in an uncomfortable position. You get in touch with the insurance company only to be informed that certain services and repairs don’t fall within the ambit of their insurance coverage!

When it comes to purchasing motor insurance in India, buyers are often taken for a ride. Blame it on the ignorance of the buyers or unscrupulousness of the sellers and mostly car insurance deals in India happen in a hurry at the last moment. People seldom inquire about the insurance terms and conditions, before buying a certain plan. They are just informed of the premium amount which they happily pay till the time a claim arises. Then only the policyholder faces some harsh realities!

The general tendency observed among car owners is to search for cheap car insurance in India and quite understandably so. A recent study shows that the cost of car insurance has shot up by almost 9% in the past 12 months and is predicted to soar further in the year 2015, up to as high as 15%. So car insurance buyers must be thinking that this is the right time to check out some low-priced deals. The problem is that in their hurry to close a cheap deal many tend to ignore some crucial factors.

Discussed below are some important points which should be kept in mind while looking for cheap car insurance in India.

Third party insurance might not be cheapest only because it covers the person you bump into and his car! Sometimes comprehensive plans also come with more or less same premium but with better features.

Monthly payment term is not always a great idea. Many insurers charge highest interest when the premium is paid monthly. Check that out before selecting the term.

Think twice before you opt for auto-renewals. Some insurers keep increasing the premium amount exorbitantly every year, knowing inertia and loyalty may stop policyholders from switching.

Be sure to inform your insurer about any modification that you have done with the car; otherwise it might invalidate the policy. Adding safety features to your car can help reduce the premium amount.

Opt for add-ons only if you know the real values. Read the policy terms and conditions well before finalizing any add-on.

To buy cheap car insurance in India do a little bit of research work. Compare features, facilities and rates of multiple companies before finalizing one.

Over the past few years the motor insurance sector in India has expanded remarkably with the entry of several private operators. This has prompted insurance companies in the public sector to improve their products and services. Undoubtedly this healthy competition has benefited the customers and ensured satisfaction. They now find themselves in an advantageous position whereby they can compare insurance plans from different sources to settle for the best at the cheapest rate possible.

A Simple Guide to Buying Car Insurance

What Determines the Cost of My Auto Insurance?

Car Insurance: The best way to protect you against financial loss

Buying a motor car is like a dream for most of us and it is still considered as a major milestone in life for many people in India. However, just like you wish to fulfill your dream you should also plan to protect it from unwanted incidences like sudden accidents, natural calamities or being stolen. It will definitely make a huge hole in your pockets.

Purchasing suitable car insurance would be an ideal solution to tackle your finances during unexpected incidences. However, most people think it’s an added burden on their finances and don’t wish to purchase an insurance cover. But, insurance could be your best companion during rainy days of finances.

In India, there are various insurance companies who offer policies with customized benefits and features. You can visit the branches or call customer service, as well check quotes online to buy a suitable policy for your car. It is advisable don’t leave sorting out your insurance until the last minute. Buy it a few weeks before you need to can help you cut the cost of premiums significantly.

From lowering your premium costs burden to adding a teen driver, buying car insurance can often seem to be a daunting and expensive process. However, getting insured has become the necessary part of your car purchase and will help you save a lot of stress and money in the future. With the emergence of internet based facilities, it is easy to find out the most suitable insurance quotes. The authentic websites help you get insurance quotes from insurance companies and ensures that you get to crack the best deal possible for your car safety.

Here are some reminders to ensure you get the best possible insurance for your car.

A car cover is mandatory in India and requires that you carry liable insurance, which pays when a damage is done to yourself, your car and others. It is advisable, go for a comprehensive car cover that will help you protect against third party losses as well as your own car damage. If this is your first car and you don't already have insurance, you'll need it before you drive the car off the roads. In addition, if you’re financing the vehicle, then your lender will insist  you have an insurance at the time of the purchase as it is bought from your hard earned money.

For the ones who already own a car insurance but planning to buy a new car, should notify their insurance company about the purchase. The insurance rate will then be adjusted as per the new vehicle model. Make sure you inform them at appropriate time else you would be driving away without a coverage which can prove fatal in the event of any mishap. For adding a new car to your existing insurance it has slightly different set of rules for which you’ll need to contact your insurance provider.

Insurance companies provide you with a very valuable service, but that doesn’t mean you have to pay hefty fees to keep them happy. One of the ways to lower your insurance rates would be urging young drivers to keep clean driving records. Shopping online will help you avail different form of discounts. Car insurance comparison might be slightly tedious but the end result will help you save a lot of money in the future. 

Compare Motor Insurance Online Plans before the Final Investment

From a layman’s perspective, motor insurance is defined as a policy, which will help you to cover the physical motorbikes and cars, used for personal use. Moreover, this policy also helps in covering those vehicles used for business purposes, like trucks and vans. The primary reason to invest money in motor insurance is to cover any rising cost, in case; any physical damage takes place or due to any natural calamities. It is always mandatory to buy a motor insurance policy if you are planning to drive cars on Indian roads.

Types of motor insurances:

The motor insurance mainly deals with the kind of vehicle you are currently using. Before plunging for the final result, it is better to get associated with various types of insurance policies available for cars. You can easily compare motor Insurance Online plans, which is a great time-consuming package. You are asked to go through the variants in motor vehicle policies, before jumping or the final conclusion. Moreover, depending on the type of emergencies, there are various forms of motor policies available.

For the car insurance:

Car insurance is mainly associated with personal needs. It helps in covering the damages or accidental loss to your car or maybe vehicle of any third party. The third party is mainly a person, who might have injured due to your car and the accident, took place. Depending on the value and mark of your car, the premium amounts are likely to be dedicated. Moreover, the state, where the car has been registered along with the manufacturing dates are also notified before focusing towards the car insurance policies. You can always Buy Car Insurance Plans Online before making the final decision.

Insurance policies based on coverage:

There are different types of motor insurance available, depending on the type of cover. Some of the basic examples are third party motor insurance, comprehensive form of motor insurance and liability only policy. There are some documents required in case you are planning to buy a motor insurance. Some of those are machine chassis number, vehicle registration details, manufacturing year and fitness certificate, in case, the commercial vehicle has been issued by the present or local authority.

Digging Up the Right Motor Insurance Quote

Car Insurance Rates Can You Lower Them ?

Car insurance: no-fault claims are the Elephant in the room

If someone drives into the back of your car while you are stationary, you wouldn't expect to be penalized by your insurer would you? At least, I didn't – but that's exactly what happened to me.

The incident happened last summer when a van driver turned into the entrance to the car park I was parked just outside of (in a marked bay), damaging the rear bumper and paintwork of my VW Golf. The van driver admitted fault and we swapped insurance details.

I contacted my insurer,  which is part of the Admiral group, and it swiftly sorted out repairs to my car and, sometime later, claimed successfully from the van driver's insurer. I asked before I made the claim whether it would affect my premium – although I assumed it wouldn't as I wasn't at fault – and was assured it wouldn't.

Yesterday I was given a renewal quote and it has risen from approximately Car insurance renewal has been rising steadily, but I hadn't expected an increase of quite that much. In fact, I had assumed that my six years no-claims bonus would ensure I was paying roughly the same, which had been the case for the past five years.

So I asked Elephant: why the hefty rise? The lady I spoke to in the renewals department told me it was because of the incident last summer. Although it had been resolved and registered as a no-fault claim, the Admiral group charges higher premiums whether drivers are at fault or not. Apparently, now I have made a claim Admiral considers that statistically I am more likely to make another claim in the future.

And the increased insurance premium is not confined to the damaged vehicle: one of my colleagues, whose car was damaged by vandals last autumn while parked in London (the wing mirror on the pavement side was smashed off), found that although her car insurance premium was unaffected, when she came to insure a horsebox that will never be parked in London the insurer insisted on taking this previous – and in 30 years of driving, only – claim into account.

I suggested to Admiral that maybe I shouldn't have claimed at all and paid for the damage myself, but was I informed that I am legally obliged to report any incident to my insurer, whether I pursue the claim or not. So damned if I do or damned if I don't.

Apparently, the member of staff in the insurance claims department who told me my premium would be unaffected must have meant my existing premium, not my renewal premium. 

[Source: https://www.theguardian.com/money/blog/2012/feb/15/car-insurance-no-fault-claims-elephant]