Car insurance buyers today are pampered with a lot of choices. Therefore, many reputable insurance providers offer personalised cost estimates to potential insurance buyers. These vehicle insurance quotes can help you understand the car insurance price, coverage, and benefits it offers.
You can easily get a four-wheeler insurance quote by following a few simple steps discussed below.
4 Simple Steps to Get Car Insurance Quotes
1. Organise Your Information
The insurance provider will require some information to generate a suitable car insurance quote for you. Therefore, the first and foremost important step is to keep all the relevant data ready with you.
- Car’s make, model, registration number, etc.
- Car owner’s name
- Details of any claims filed in the previous year and the NCB accumulated
- Previous IDV of the car
You can easily find this information in the previous insurance policy document and the registration certificate.
2. Ascertain the Insurance Type and Premium Amount
The mandatory Third-Party Insurance plan can be cheap as it provides coverage for damages caused by the insured vehicle to a third party only. On the other hand, the car insurance price can be relatively higher if you choose comprehensive car insurance. But, it will provide comprehensive insurance protection that covers both third-party and own damage.
So, you must decide the type of insurance you want to purchase. Next, ensure that the premium amount should adequately cover your damages in the event of an accident.
3. Request for the Quote
Once you know what you want, request the car insurance quote from the insurer. Visit the website of the insurer and go to the car insurance section. Just type in your car registration number and mobile phone number to get a quick quote.
4. Compare Quotes and Finalise the Purchase
The last step is to compare all the quotes you have got. A few things you should compare are the Insured Declared Value (IDV) of the car, add-ons, exclusions, and inclusions.
If you’re satisfied with the car insurance quote provided by the insurer, then go ahead and buy the car insurance plan by making an online payment. You’ll receive an email from the insurer regarding the details of the purchased policy.
Factors That Affect a Car Insurance Quote
Your vehicle insurance quote may differ based on the area you live. Some areas are more prone to accidents, natural calamities, or man-made disasters than others. Hence, your insurance quote may change accordingly, as the insurer will consider the repair costs in the case of an accident or damage.
Number of Add-Ons
Your comprehensive vehicle insurance price can be unnecessarily high if you indiscriminately keep including add-ons. So, include only the important add-ons based on your needs.
Insured Declared Value (IDV)
Simply put, your vehicle’s approximate market cost is known as the IDV. The insurer determines the IDV based on a certain formula. A higher IDV can result in higher vehicle insurance costs, but it also increases the insurance coverage amount, which can be beneficial if your car is new. Follow the guidelines set by the IRDA (Insurance Regulatory Development Authority) to reach the right IDV.
Comparing quotes before making the final purchase can help you identify the right insurer. Moreover, you can choose the right plans and include add-ons to see how they’ll affect the insurance premium cost. This can help you prepare a budget accordingly.
So, get the quote, buy the right car insurance plan, and prepare for your next road trip without worrying about insurance.