In Indian culture, buying a new car brings an excitement in the whole family. It means lots of happiness, fruition and the beginning of those tours which you have been planning with your family in your new car. In excitement of a new car, people generally ignore that buying a new car is not only a matter of fun, instead it is a big liability.
If you analyze carefully, you will come to know that having a car or buying a new car is a matter of big responsibility, as we have to ensure that we do not hit anyone from our car while driving. In case if we do so, we should have proper insurance coverage for our car as well as the third-party to ensure compensation.
It is not only our responsibility to have a car insurance but also it is mandatory by law to have Third-party liability insurance under the Motor Vehicle Act. There are number of insurance providers available in the market, who offer different kind of car insurance policies, but we should consider the best suitable plan for ourselves. To buy the right car insurance, we must compare it before deciding on which policy should we buy. For which there are few things we should keep in our mind:
Shortlist your requirement: Before buying a car insurance, it is very important that first you should decide that what do you need in your car insurance policy. Just make a list of the kind of coverage you are looking for in a policy like how TPL, IDV, add-ons and so on.
Coverage comparison: Once you are done with the short listing of your requirements, compare the policies online. Moreover, the kind of coverage offered in a third-Party liability is different from that of comprehensive policy. Liability only covers any loss and damage caused to the third-party, whereas the comprehensive policy offers you a full coverage which includes TPL, damage to the vehicle and personal accident. So, it is advisable to thoroughly compare car insurance policies before buying.
