Why you shouldn’t focus on finding the cheapest car insurance plan!

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Why you shouldnt focus on finding the cheapest
car insurance plan!
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• Price is an important factor when buying a car
  insurance policy. However, is it the only thing
  you should be looking at? Of course not! This is
  because a cheap policy can leave you exposed to
  several risks, both on and off the road. So,
  before you finalize on a plan simply because it
  is light on your pocket, remember to keep these
  things in mind as well
• 1. You might be uninsured.
• A cheap car four wheelers insurance plan will
  help you save money on your annual insurance
  outgo. However, it might not provide the
  protection you require in case of a road mishap.
  For instance, many individuals choose
  affordability instead of protection and purchase
  third-party insurance for their vehicles.
• While these plans meet the legal insurance
  requirement, they do not provide any coverage for
  your vehicle. Therefore, in case of an accident,
  your vehicle could be damaged, and you would have
  to pay out of your own pocket to fix it. In such
  a scenario, paying a little more money, and
  having a comprehensive policy will help you save
  a lot on repair costs!

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• 2. Sub-standard insurance company.
• To lure more customers, some Comprehensive Car
  Insurance companies will lower their premium
  rates significantly. However, these insurers
  usually compromise on protection levels or
  after-sales services to make up for costs. Thats
  why it is important to first do a thorough
  analysis of the insurance company before buying a
  plan.
• Look at the reviews of an insurance company -
  this will give you a fair idea of what to expect
  after you buy a plan. You should also look at the
  claim settlement of the insurance company. A
  higher claim settlement ratio will mean that your
  claim is more likely to be settled. Therefore, it
  is advised to look for a plan that has a CSR of
  90 or more.
• 3. Fewer cashless garages.
• Cheap car insurance plans providers usually
  have fewer cashless garages. This means that in
  case of any repairs, you might have to go hunting
  for a network garage. Fewer network garages could
  also mean traveling long distances to get access
  to cashless claims.

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• 4. Higher deductibles or lower IDV.
• Some plans offer lower premiums but make up for
  it by transferring higher amounts of risk to the
  policyholder. They might charge you higher
  deductibles or lower IDV in case of a claim. So,
  if you find a plan thats offering an extremely
  low premium, remember to look into these 2
  aspects before finalizing.
• 5. Are they trustworthy?
• You can never be too careful these days!
  Sometimes, if an
• insurance company is offering unusually low
  premiums, there is a chance they will disappear
  after you make the payment, especially if you are
  buying the plan online. To avoid this, just
  ensure the insurance provider you are buying the
  plan from is IRDAI certified.
• We hope you consider these 5 points before you
  settle on a cheap car insurance policy. Remember
  that it always better safe than sorry, even it
  means paying a slightly higher premium amount.

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• THANKYOU