Why You Should or Shouldn’t Buy Motor Insurance from Your Dealer?

 

As per the Motor Vehicles Act, 1988, motor insurance is mandatory in terms of buying any sort of motor vehicle, be it a bike or a car. You can’t drive back home without having a motor insurance policy. When you buy a vehicle from a showroom, the dealer generally offers a motor insurance policy of their own. Choosing to buy motor insurance from a car dealer can be both beneficial and disadvantageous in terms of different aspects and perspectives.

Let’s find out why you should buy motor insurance from a dealer:

• The motor insurance policy offered by the dealer can be called trustable since you can always catch hold of your vehicle dealer if anything goes fishy.
• In terms of claims, you don’t have to run from one place to another to get help. Simply call your vehicle dealer in case of any damage or loss suffered and they will handle the rest.
• You don’t have to involve yourself or your time in finding any particular car insurance plan or a motor insurance company. Your dealer will do that job for you.
• In terms of renewal of your motor insurance policy, you can just call your dealer, just pay the money and your bike dealer will do the rest.

Let’s find out why you shouldn’t buy motor insurance from a dealer:

• When you buy motor insurance from your dealer, you don’t really know what coverage you are being offered, details of the policy.
• You can’t figure out whether it’s the best policy for your vehicle in terms of your own personalization and driving habits.
• You can’t compare the policy with other insurance provider’s policies to get a cheaper deal with higher coverage. You will have to go with whatever policy your dealer brings before you on the table.
• You won’t be eligible for any discount.
• Most important of all, you will never know if there’s any hidden costs or the real motive of the dealer

Now you have both the pros and cons of buying motor insurance from your dealer. Meanwhile, you can click here to instantly compare top motor insurance providers and avail the best coverage.

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Should I Compare Car Insurance Online?

 

Compare Car Insurance Online

A car insurance policy is an essential requirement that must be met at any cost. There are so many factors that you must consider before buying motor insurance online.

Given that the third-party car insurance is a legal requirement for every vehicle piling on the Indian road, we tend to overlook the protection of our vehicle by not purchasing a comprehensive cover, which is wrong. Most of the people only buy the third party four wheeler insurance because they think comprehensive auto insurance policies will cost a lot.

Well, you no longer have to be in this dilemma. There’s a very easy yet simple way to buy the best car insurance policy online. All you have to do is compare car insurance quotes online. Now, here’s why the comparison is a must before buying car insurance online.

Let’s have a look at some of the incredible benefits of comparing life insurance:

• Independence of choosing insurers

When you compare auto insurance policies online, you can do it independently and you can only choose the best auto insurers in India. Of course, there are a number of motor insurance companies in India, but what comparison does is only bring you the best insurers and their products. You no longer have to stick to the same insurer if you compare vehicle insurance policies online.

• Get the best motor insurance policy

There’s no denying the fact that you can avail the best car insurance policy if you compare motor insurance plans online. You can compare your auto insurance policy in terms of various features like the IDV of your car, additional discounts, special offers, additional covers, etc. You can see for yourself which insurer is offering how much benefit for what premium. You should also take in the reputation of the company in terms of its claim settlement ratio while you compare vehicle insurance policies.

• Cheap car insurance policies

Who doesn’t look for a motor insurance policy that gives you maximum benefit in a lower premium? Online comparison of auto insurance policies can bring you the best yet cheap car insurance plans. You can avail of the lowest priced motor insurance if you compare auto insurance online.

How to Compare Car Insurance Online?

Comparing four-wheeler insurance is now easy, simple, and hassle-free. All you have to do is log into an insurance broking portal like GIBL.IN. But make sure that the portal you are about to use for the buying or renewal of car insurance shows unbiased quotes. Also, make sure that the portal is safe and secured in terms of making online payments.

Now that you have logged into the portal, just enter necessary details related to your car like the make & model of your car, registration date, previous insurer, etc, and request a car insurance quote.

When done, you will be provided a list of the best motor insurance policies offered by various insurers online. Now you can compare the quotes from multiple insurers as per your requirements and budget and choose the best policy accordingly.

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What Can I Do If My Car Insurance Policy Lapses?

 

There could be a number of reasons behind the expiration of a car insurance policy. In most cases, your own negligence is the prime cause behind a car insurance policy lapse. There are a few things that you can do if your car policy lapses. But before we go there, let’s check out a few reasons behind the policy lapse.

• Non-payment of the Car Insurance Premium: You are responsible for paying the premium against your car insurance online policy. If any circumstance renders you to the non-payment of car insurance premium, your car insurance policy will lapse.
• Late Payment of Your Car Insurance Premium: You want to make sure that the due car insurance premium is paid on time. Otherwise, your car insurance may lapse in case of the late payment of your car insurance premium.
• Non-renewal of Your Car insurance Policy: If you think your job is over after buying car insurance online, you are certainly wrong. Your car insurance policy will lapse if you don’t consider the importance of car insurance renewal. You must make sure that your car insurance renewal is done on time to continue receiving the benefits offered by car insurance companies in India.

However, there’s nothing to panic about if your car insurance policy lapses. There’s certainly something that you can do in case your car insurance lapses. Here are the two things that you can do when your car insurance policy expires

·         Inform Your Existing Car Insurance Provider: For the car insurance renewal, you can inform your existing car insurance provider if you want to renew your policy from the same car insurance company. The car insurance provider will inspect your vehicle. After the inspection, the car insurance company will give you a confirmation regarding the coverage of your vehicle.

·         Renew Your Car Insurance from Different Provider: You can also consider the car insurance renewal from a different car insurance company in India as per your requirements. For this, you can compare car insurance quotes of different car insurance providers online and choose any for your car insurance renewal.

There can be many consequences if you do not renew your car insurance policy. Hence, you should not allow your car insurance policy to lapse. Meanwhile, you can click here to check the best offers for your car insurance renewal online.

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What If I Do Not Buy Car Insurance?

 

With the rising numbers of on-road accidents, having the best car insurance policy certainly calls for immediate action. And if you think you can get away without having car insurance for your vehicle then you should get your facts straight first. There’s no way to drive on Indian street without car insurance since it is mandatory by law, as per the Motor Vehicles Act, 1988.

However, if you are still wondering why you buy a car insurance policy, let me give you some reasons.

• Compulsory by Law

The third party liability is the core reason behind this mandate. A motor vehicle running in a public space can cause various damage or loss to the life and property of others. Third-party liability only policy covers such liabilities such as third party death, bodily injury, and property damage borne by the insurer. This is the reason why no vehicle that owns a car drives their car on road without this cover.

• Covers Third Party Legal Liability

As per the Motor Vehicles Act 1988, it’s mandatory by law that all owners of motor vehicles at least buy the third party car insurance policy. This policy helps you get away from any legal consequences that could arise due to damages caused to a third party person/property on the part of your fault.

• Covers Own Damage (OD)

The repairing of a vehicle is a costly repair. It is most of the time that you need to pay for the damages from your own pocket. Buying motor insurance can help you save this cost since your motor insurance company will pay for the damages or repair for your vehicle.

So as it’s clear, buying an insurance policy for your car is a must otherwise you might have to face legal consequences. Meanwhile, if you are looking for the best car insurance policy for your vehicle, you can click here and compare the top motor insurance plans and grabs the best coverage for the best price.

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What Is the Significance of Commercial Vehicle Insurance Policy?

 

Commercial vehicle insurance, as the name suggests, is a particular motor insurance policy that has been particularly designed for the protection of the vehicles that are engaged in commercial purpose. Such commercial vehicle could be a lorry responsible for transferring or carrying goods from one part of the city to another part; these vehicles could include a taxi engaged in the task of transferring passengers from one spot to another on a fare-paying basis.

 In all conditions commercial vehicles put in a lot of effort and continuous performance. These vehicles require more attention in terms of coverage and protection since they are accountable for a huge amount of task that is to be completed on a regular basis regardless of the weather or other conditions.

Commercial vehicle insurance policy has been designed particularly for these vehicles other than private vehicles. Given that commercial vehicles perform strenuous tasks, they need better and more compact coverage in case of an accident. Considering the repairing costs of any commercial vehicle could go higher, these policies have been designed.

Commercial vehicle insurance, just like the private motor vehicle insurance offers mainly two types of plans: third party liability only plan which is mandatory by law and the comprehensive policy. Apart from these two, you can, however, broaden the coverage on your commercial vehicle by opting for some effective add-on covers in exchange of additional premium payment.

You can instantly buy or renew the policy for your commercial vehicle instantly by simply visiting GIBL.IN, India’s fastest growing insurance marketplace.

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Why Do You Need Commercial Auto Insurance?

 

Commercial vehicle insurance offers protection against physical damage and third-party liability against situations, amounts, and usages that are not covered under a personal auto insurance policy.

Commercial vehicle insurance covers a wide range of vehicles—from different automobiles that are used for business, including the cars used by companies, to a wide range of commercial trucks engaged in strenuous jobs. These vehicles also require ample coverage for employees who operate the vehicle plus the equipment inside.

A number of specific business usage and vehicle types are generally excluded from personal auto insurance policies. That’s because personal vehicle insurance policies are not meant for businesses. In contrast, business owners, owning businesses that run on vehicles that are used for commercial purposes, are required to purchase commercial auto insurance.

Since commercial vehicles are more vulnerable to various damages due to their continuous functioning in a restless manner, they require comprehensive coverage. Determining whether your vehicle requires commercial auto coverage or private vehicle insurance can be sorted out by figuring out for which purpose your vehicle is being used.

Commercial vehicle insurance offers 4 major types of protection:

• Medical payment coverage under a commercial auto insurance policy can cover medical bills if you or your passengers are injured in the event of a car crash, regardless of fault.
• The policy covers physical damage and collision. It pays for repairs if your commercial vehicle is damaged by something other than a car accident. For instance, vandalism, theft, collisions with an object, and certain weather conditions are usually covered.
• Third party legal liability coverage pays for property damage or bodily injury to a third party caused by your vehicle. This policy also pays for accident-related legal expenses, such as settlement costs or attorney fees, etc.
• Uninsured motorist coverage with commercial auto insurance can pay for damage to your vehicle or bodily injuries suffered in case someone with no insurance cover hits your vehicle.

So by now, you must have gathered some knowledge on commercial auto insurance and why you should buy it. However, before the renewal of your commercial vehicle policy, make sure you compare different plans online to avail the best coverage for the best price. Meanwhile, you can click here to check out commercial vehicle insurance plans from the top insurance companies in India.

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