5 Common Mistakes In Choosing Car Insurance Policy
Insurance is a term which has always been a headache for common man. The rules, terminologies, agents, policies make it more complicated. Previously agents used to fill their pockets with huge amount of commission money from both the consumer and insurance company. Thanks to the google, now this problem is solved. Internet gives us interface where we can directly purchase suitable insurance for us. At the same time, we buy wrong car insurance when we don’t have adequate knowledge of the same. We bring you list of 5 common mistakes in choosing car insurance policy.
The matter of the fact is that insurance companies are bound by law. While you book a policy or you claim it, the process goes through set of regulations which make insurance much more complex. In common we just keep on clicking what site suggests us and we book policy for us which is wrong. Here we bring some 5 Common Mistakes In Choosing Car Insurance policy.
Common Mistakes In Choosing Car Insurance Policy
1. Looking for Cheaper Policy:-
Money can’t buy us happiness but money can definitely buy us comfort. Money concerns us all. Different policies offer us various benefits and coverage. Prices are directly proportional to benefits and coverage’s. Always keep your budget in mind while buying a car insurance but your pocket should not be deciding factor. Whenever we search for policy, the list starts with cheapest one. We end up clicking on the first one but we forget to make note that the cheapest one don’t offer coverage against damages or huge loses to your car.
2. Selecting Small Add-On:-
Many of us choose small add on in our policies when we buy them online. We believe that small add on are more beneficial. But actual scenario shows that more beneficial policies are those that include good add on to it.
3. Lack Of Research:-
Customers buying insurance policies online fail to explore and research various options
4. Claiming No Claim Bonus:-
First of all you need to understand what is No Claim Bonus. Study says that many people forget to claim no claim bonus. In case you don’t claim any damage in a term, you are eligible to receive a No-Claim Bonus at the time of buying new policy. Please note never claim false No Claim Bonus as the companies verify it for sure at the time of claim and it may hamper your process of claim. So keep it in mind while you renew your motor insurance policy.
5. Not Reading Terms And Conditions:-
Majority of people make this mistake while buying car insurance policy. Not only in policy purchasing, we retreat this mistake everywhere. Therefore, make sure you read every term in detail and don’t ignore any hidden meaning of policy. This will not only be beneficial for you but it will increase your knowledge also. Remember Knowledge will not acquire you, you will have to acquire knowledge.
Avoid these 5 Common Mistakes In choosing car insurance policy. To get best insurance policy for your car, make sure you explore and compare different options online. Do not leave any term or word miss-understood. Know about every coverage, benefit and premium amount associated with policy. Knowledge is the key.
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