A car insurance policy or any general insurance policy, can be seen as a written agreement that seals the relationship between the insurer and the insured which entails specific responsibilities and roles for each party. The core importance of an insurance policy is that it warrants a relationship where the insured is offered financial coverage under certain specific circumstances. Such a policy holds a lot of importance, especially in terms of the legal as well as personal safety aspects that are associated with driving on the road in a four-wheeler you own. During the time when your insurance policy needs to be renewed, there is a gap in the insurance contract, thereby allowing you to reassess your current options.
However, an important question to ask in this case is where one can renew such an insurance policy or find a better one that offer coverage in terms of financial damage caused due to mishaps. These steps detail the quest that one can go on in order to find the right car insurance policy as per your car and your own preferences:
- Enter into the digital realm through Google search
- Firstly, go to any of the myriad car insurance comparison websites, such as PolicyBazaar.com to order to find a better car insurance policy than the one you currently own.
- After perusing through the various car insurance policies that are available on the comparison websites, decide whether you would like to merely renew your existing policy or choose a new insurer that you find to be the best fit as per your budget and requirements
- You can also go off on a tangent in this case and search specifically for the claim settlement ratio associated with different insurance providers in the market. Usually, this is available on insurance policy comparison websites. However, if you want to delve even deeper into this particular aspect, you can visit websites like gibl.in, acko.com, insurancedekho.com, cleartax.in and moneycontrol.com, and more.
Note: the claim settlement ratio is essentially a measure of the number of claims an insurance company has received within a particular period of time, and the number of times the claims were settled or accepted. This is a measure of the inherent probability of having your claim settled if filed with a particular insurance company, and thereby, is a measure of the amount of trust you can place in the insurer.
- Once you have chanced upon the insurance company with the best claim settlement ratio and the most fitting insurance coverage offerings with regards to car insurance, head over to their official website. You can resort to this step directly in case you want to renew an existing policy.
- On the official website of insurance agencies such as Bharti AXA, you can find all the necessary information for purchasing a car insurance policy that fits in with your needs.
- On the websites of most insurance companies, you can also find a considerable amount of content with regards to the coverage options that are offered under each policy, be it a simple third-party liability car insurance policy or a comprehensive car insurance policy.
Once you are sure of the car insurance policy that you want to purchase, you will need to input details such as existing insurance policy number, car details and whatever else might be asked of you. Owing to the fact that the significance of this policy extends beyond merely the digital quest, but rather being a crucial shielding mechanism on the road, make sure you do enough research before purchasing or renewing one.