Every individual either wishes to purchase a car or already owns one. Unfortunately, the increase in the number of vehicles has paved the way for the rise in road accidents. Additionally, due to the rapidly increasing demands of cars in the market, a car insurance has become a compulsion. Since a majority of the people are under the wrong notion that car insurance is expensive, they choose to skip buying it.
While searching for a
car insurance policy, you will come across two mains types of car insurance plans: Third party insurance and comprehensive insurance. Therefore, before you make the final selection, evaluate these two broad categories of car insurance policies to understand their differences and what suits you best.
Difference between third-party insurance and comprehensive insurance:
Needless to say, the advantages and disadvantages of comprehensive and
third party car insurance policies are based on many factors. Therefore, it is advisable to understand each of these factors carefully. Assessing these factors separately with a proper understanding of the two will make the comparison and selection process easier.
| Difference |
Third Party |
Comprehensive |
| Coverage |
Covers against damages to any third party vehicle or a person at the time of an accident |
It is a combination of third-party liability as well as comprehensive coverage |
| Add-On Covers |
Cannot be equipped with add-ons |
Can be equipped with covers such as
- Engine Protector
- Depreciation Shield and more
|
| Premium |
Depends only on IDV of the vehicle |
Depends on multiple factors such as IDV, price of add-ons, etc. |
It is important to buy only that policy which suits you the best. However, buying a car insurance policy can end up being a tedious task if you are not aware of where to look for the right one. Go through these five tips mentioned below in order to land up with an affordable car insurance policy yet the best one:
5 tips to avail affordable car insurance:
Look out for more coverage at lower rates
Running after low costs, customers might settle for less coverage or benefits. When you avail a plan by Bajaj Allianz General Insurance, you not only obtain the best deals but also ample amount of coverage at an affordable rate.
- Compare policies online
The best way to ensure that you have the best yet the most affordable policy for your car is by comparing multiple car insurance policies. Compare quotes based on their charges, features, and benefits. For more details, read up on various testimonials by customers who have previously availed the same policy.
- Opt for the right cover
Once you’re done comparing policies, you’ll get a vague idea about what you’re particularly looking for. Availing the right type of
cheap car insurance allows you to reap the maximum benefits irrespective of its price quotient. Therefore, see to it that you plan your actions accordingly and only then select the right type of policy that matches your needs and budget.
- Manage your add-ons wisely
Certain companies provide additional benefits to its policyholders on the purchase of a car insurance policy. These benefits are extended to the customers in the form of add-ons that guarantee extra protection. Bajaj Allianz General Insurance offers numerous add-ons like a lock and key replacement cover, depreciation shield, engine protector and more. Go with the covers that seem necessary instead of adding all available options as they also increase your premium.
- Consider the deductibles
When a car owner opts for a car insurance policy, they tend to overlook the advantages of employing deductibles. The higher the value of deductibles, the lower the payment of premiums.
Now that you know how to avail affordable car insurance policies, what are you waiting for? Visit Bajaj Allianz General Insurance to know all about our car insurance plans.
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