123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Investing---Finance >> View Article

Take Steps For The Best Protection For Your Car - Choose The Right Car Insurance

By Expert Author: Neha Sharma

Purchasing a car will provide you with a lot of benefits no doubt, but you will need to protect your investment. The only way you can do that is by getting a car insurance. With plethora of options available in the market, choosing the right one becomes more difficult. You will need to consider a lot of factors before you make your decisions. In order to assist you in your decision, take a look at these steps to take to get the best protection for your car.

Check out the insurance company
Before you even begin applying for the insurance, you must check out the different companies that are available. Normally, you must find a company that offers you to the best coverage, no matter how much you pay them. Go through online reviews or even speak to your friends and relatives. See what all benefits they offer you apart from their competition. Keep track of financial news to keep track of the reputation of the company you would want to apply at. Always look out for the claim settlement ratio history to get a good idea of what they offer you.

Check out the types of vehicle insurance available

Normally general insurance providers offer only two types of insurance. The third party liability insurance normally compensates for any property damage, unpredicted death and any other damages to the third party. This car insurance is mandatory for all vehicles which run on the roads of Mumbai. The second insurance that is offered by these companies include the comprehensive plan. Normally it covers damages and losses suffered by the insured as well as any third other third party. Additionally, it covers damages or theft by unpredicted events like cyclone, earthquake and fire explosions. Normally this type of insurance is preferred by many people as it is more resourceful. Check out the insurance that is most suited to your needs before you apply for it as once you apply you will not be able to change it until its renewal time.

Know the risk factors that affect the premium of the insurance

Certain factors affect the premium of car insurance. They are broadly classified under four categories. The most common one includes vehicle related risks. Certain vehicles like luxury cars and commercial ones often demand a high premium payout due to the high standard components in the car. With location based risks, it is normally associated with the area of registration. Normally, high urban areas demand more premium as there are more risks there. Additionally, if you live in an area that has a high theft ratio, then you will need to pay high a premium. If your car insurance demands a claim, there is a chance that your premium will also shoot up. Driver related risks consider the age & profession of the driver. Premium rises if there are multiple drivers.

Author Bio :- Neha Sharma is a finance student who loves to write during her free time. She has researched about the different insurances, which include the car insurance. Through her work, she has provided details on how to choose the right insurance to protect your vehicle investment.

Total Views: 4032Word Count: 524See All articles From Author

Investing / Finance Articles

1. Imputing The Services Of Individual Taxpayer Identification Number To Build Tax Solutions
Author: Robin Joe

2. Why A 5 Year Fixed Deposit Is The Ideal Choice For You?
Author: Mayur Sheitty

3. How Can Existing Home Loan Owners Reduce Their Current Interest Rate?
Author: Mayur Sheitty

4. Loans For People With Bad Credit – Speedy And Flexible Way For Borrowing
Author: Stephen King

5. Expand Your Business With A Sme Loan
Author: Mayur Sheitty

6. Self Employed Home Loan: Here Is What You Need To Do
Author: Mayur Sheitty

7. Same Day Cash Loans Bad Credit –best Way For Making Swift Funds
Author: Stephen King

8. Assets Audits Of The Asquith Group Asia, Tokyo Japan
Author: Ava Kraegen

9. Facts About Fixed And Variable Home Loans
Author: Kimberly Ash

10. Relation Between Different Commodities And Commodities Based Stock
Author: Mahendra Rajput

11. Investment Procedure Of The Asquith Group Asia, Tokyo Japan
Author: Ava Kraegen

12. Best Interest Rates At Home And Mortgage Loans
Author: Shreekant Rao

13. The Home Loan Transfer - An Effective Way To Reduce The Interest Burden
Author: Arwind Sharma

14. Scope Of Forex Market In India
Author: sharetipsinfo.info

15. Benefits Of Money 2 India Service For Nris
Author: Neha Sharma


Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: