3 Things to Know About Second Hand Car Insurance

Insurance plays an important role in providing much needed financial support in case of any accidental damage to your assets. Hence, whether it’s a brand-new car or a second-hand one, it’s important to have a comprehensive motor insurance policy. Below are some of the benefits of insuring your second-hand car. It covers you against: Third Party Liability: In India, it is mandatory to have a third party car insurance cover that takes care of damage caused by your vehicle to a third party. It can be damage to the property or a person where the amount that the third party can claim is unlimited. Natural & man-made calamities: Whether your vehicle is moving or lying idle in your parking area, it is susceptible to various risks. Events like floods, earthquake, riots, vandalism, etc. can cause irreparable damage to your vehicle and hence a comprehensive motor insurance policy can come to your rescue. At Bajaj Allianz General Insurance, our comprehensive private car insurance policy not only covers you against third party liability, but also provides financial support in case of any accidental damage to your vehicle. Theft of vehicle: As many measures as you may take of securing your vehicle, there are chances that someone may steal your vehicle. A comprehensive car insurance policy provides you the Insured Declared Value or IDV of your vehicle in such circumstances. However, below are a few things you should take care of while insuring a second-hand car as its procedure is slightly different from the new car. Transfer the car insurance policy or opt for a new one: Once the car ownership is transferred under your name, it becomes important to get the car insurance policy of the previous owner transferred to your name. Sometimes, it may not be possible to change the plan of the previous owner, hence you may choose to opt for a new motor insurance policy altogether. Bajaj Allianz General Insurance private car insurance policy can be customized as per your needs with various add-on covers like 24/7 spot assistance, consumable expenses, personal baggage, etc. that one can opt for. Check claims history of the previous policy: While buying a second-hand car, it is advisable to confirm the claims history of the previous owner under their insurance policy. You can do so, by immediately connecting with insurer and providing the policy number. Get the car verification done: While getting the car insurance transferred under your name or buying a new motor insurance policy, it is recommended to get an inspection done. It helps you understand the age and condition of the vehicle, its IDV and damages which are already there, if any. Thus, enabling you to appropriately cover your vehicle. Apart from the above tips, while opting for a comprehensive motor insurance policy, it’s important to know the network of cashless garages that your insurer has and most importantly the claim assistance in case of any damage. Bajaj Allianz General Insurance has over 1500 preferred garages across India for cashless claims. The company also offers towing facility in an event of a breakdown/accident 24x7 even on holidays. Hence, do the necessary background check both on the insurance policy and the insurer to opt for what’s best for you and your vehicle.