Days are gone when insurance was 10 feet away and now people’s interest is starting to increase. we can easy conclude that because of the pandemic.
Even if we continue to insure in spite of that, how do we choose it, the first is that the premium for any plan is low.
Insurance at this low premium is a magic web that insurance companies are spreading to buy their insurance. This applies not only to the vehicle, but to any insurance plan.
Vehicles submerged in floodwaters
Is that all right? How to choose the right insurance? Thousands of vehicles have been inundated due to the floods in Chennai. Can this be claimed in this case? After this let’s take a look at what kind of things to look for when taking out an insurance.
How much is IDV?
The first thing you need to look at is IDV (insured Declared Value). For example, if the value of your vehicle is 10 lakh rupees, you need to insure for the same 10 lakh rupees. When the premium is low, your car worth Rs 10 lakh will have an insurance rate of Rs 8 lakh (IDV).
Get less claim
If your car probably disappears in the future, you can only claim 8 lakh rupees. So for a car worth 10 lakh rupees, you will get only 8 lakh rupees. So before you insure, know the value of IDV and invest.
How much is the premium?
Each company will set a premium for the same type of car. But is full insurance covered by that premium? Find out. When you take out a general insurance, you can only claim part of the cost of your car. This is (zero dep) zero depreciation policy. How much does the car cost? They will pay the full cost.
Cashless service system
Usually the cashless service system comes from today. Insurance companies will be linked to service centers. So when you take out these policies and your car incurs any unexpected expenses, you do not have to pay it out of hand. And in case of any problem, the insurance company will pay directly to the service centers. You can leave the car and bring the repair. No need to spend out of your hand.
Are the claims paid properly?
Are Insurance Companies Claiming Properly? Some companies avoid making claims even for small reasons. So it is good to know this in advance and act accordingly. For example, some companies say that if you restart a flooded vehicle, you cannot claim it. So there are many things like this.
Add on Plans
Some insurance companies have several add-on plans. Especially for engines that are separate, the NCB – no claim Bonus – If you do not claim insurance for anything in one year, you will get a discount on your premium the following year.