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Car Insurance in India

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After buying a car with your hard-earned money, having to also pay for repairs with your hard-earned money can be quite heartbreaking. It can also have a fairly adverse effect on your wallet and savings. In India however, it is compulsory to have a third-party insurance policy on your vehicle. This means that the insurance policy will take care of any damages done to the car by a third-party, and it will not cover any damage done by the owner himself. While this is the mandatory insurance required, many people prefer to get a comprehensive plan on their car, as this gives them better car insurance coverage. No matter what kind of policy you go for, you need to ensure that you have a working policy in the vehicle at all times, which is a necessity by the Vehicles Act.

Once you have a policy in place, you will have to pay a car insurance premium, and you will be insured for a certain amount. The amount of coverage you get from your car insurance depends on a whole host of factors. The first thing looked at is the car make, and the model. The kind of policy you are looking for as well as anti-theft devices you already use will also be considered while the coverage is being debated. The applicants driving history, age and gender are also important factors that are taken into consideration.

Due to it being compulsory, a number of insurance companies offer a large number of different kinds of policies to help you insure your car. These companies have also made matters easier by setting up great websites that allow people to check their policies out online itself. People looking to get their car insured can simply call an insurance company, and they will then send an employee to the applicants home to look a the car and take photographs, following which they will reach a certain premium amount and insurance amount. Once this is done, you can even pay online for your car insurance, and this saves you the trouble of having to physically go to the insurance company’s office. You can make the payment through online banking or debit and credit cards, and as soon as the payment is made, you are e-mailed a copy of the policy that you need to print and keep in the car at all times. It is important to remember to renew the policy every year, and this too can be done over the Internet with the click of a few buttons.

By law, having insurance in place for your car is mandatory, but it is also sensible, so always remember to look through a few policies before you finally select one.



Source by Ashish Tata