Car insurance is an important tool of financial protection for your car against unanticipated situations like thefts, accidents, calamities, etc. that may lead to loss or damage. While third-party car insurance is mandatory under the Motor Vehicles Act, of 1988, it is recommended that one should go for a comprehensive plan. When choosing car insurance, it is important that you choose a plan that gives you maximum benefits at the most competitive cost. While car insurance comparisons can be done both online and offline, the latter could be highly tedious work. Doing it online is not only convenient but also quick. You can use several car insurance calculators to get the best quote for your car.

In this blog, we will help you to carry out an effective online research to compare car insurance quotes.

How to compare car insurance quotes online?

It is extremely important that you compare different car insurance plans that are available to you. It is best recommended to research and compare first and only then make the insurance purchase. There are two ways in which you can compare car insurance quotes online:

  1. Visit every car insurer’s website to get a quote and then compare them.
  2. Visit a third-party aggregator site.

To get a car insurance quote online, you will generally need to share information like the model of the car, the registration date, the location of the regional transport office, car usage details, etc. Note that visiting each car insurance provider’s website can be tedious but it will provide you with the most updated and correct information. On the other hand, visiting a third-party aggregator’s site makes the process much easier and less time-consuming.

However, in both cases, you must know what factors to check and compare in order to choose the best suitable car insurance plan for you.

What are the factors that should be considered while comparing car insurance quotes?

Comparing insurance quotes will help you identify the best plan at the least cost for your car. Listed below are some of the major points that you should keep in mind while you are comparing car insurance quotes –

  1. Coverage– Before selecting your car insurance policy, compare the coverage provided by different types of policies like third party car insurance, comprehensive car insurance, etc. Comprehensive car insurance provides greater coverage as it provides protection to owning a vehicle and also provides protection against liability to third parties.
  2. Premium- It is the most important factor while comparing and selecting your car insurance policy. Generally, car insurance plans with a lower amount of premiums seem more attractive, but keep in mind that these would also provide a lower level of protection. Hence, while the amount of premium is an important factor also keep in consideration the level of protection offered by these plans. There are various car insurance calculators online to compare the number of premiums on these plans.
  3. Available add-ons– Car Insurance companies also provide various add-ons to increase the level of protection. You should carefully consider these too. These add-ons include-
  • Passenger cover
  • Consumable cover
  • Tire protection cover
  • Engine protection cover
  • Zero depreciation cover
  • Roadside assistance cover

There are various other types of add-ons too. These add-ons help provide greater coverage per your specific needs and situation. To understand what cover you require, a good understanding of your driving habits will help.

  1. Wide garage network: It is important that you identify a car insurance provider with many network garages. To make the car insurance claim process simple, insurance providers provide options for cashless repairs. Insurance companies have direct relationships with car repair shops and settle the number of repairs, etc., directly with these garages. Hence, the insurance policyholder need not pay anything. So, an insurance provider with a wider garage network should be preferred.
  2. Terms and conditions: Another important point to keep in mind is to go carefully through the terms and conditions of the policy. You should go for a policy that has easier terms and conditions. Also, make sure you carefully consider the inclusions and exclusions based on your needs.
  3. High Claim Settlement Ratio: Claim settlement is an important issue in any car insurance policy. While comparing car insurance quotes, compare the claim settlement ratio. It is a ratio of claims settled to claims received. A higher claim settlement ratio means claims are settled quickly, which is advantageous.

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What are the benefits of comparing car insurance online?

Some of the major benefits of comparing car insurance online are-

  • Easy process: Comparing car insurance online is an easy, hassle-free process. All you require is your laptop/mobile device and an internet connection, and you can simply sit back and compare all the plans and choose the one that meets your requirements.
  • Saves time and money: You can simply get a quote at the convenience of your home. There is no need to run around, thereby saving both your time and money.
  • No need to rely on insurance agents: Insurance agents have limited options for policies with them. Their opinions also come with their own biases and agendas. On the contrary, you can simply use a car insurance calculator online to compare several plans, get a clear picture of various policies, and then make your own decision.
  • A greater number of options: When you compare insurance plans online, you have a greater number of options to compare and choose the one that best meets your needs.

Keeping the aforementioned factors in mind and comparing your car insurance plans based on these factors will provide you with a clear idea of which plan to pursue. It will help you get the best deal on your car insurance and avail the best possible coverage for your vehicle.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales

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