Auto Insurance means an policy purchased by a vehicle owner to mitigate costs in the eventuality of having met with an accident. In such incidents, the insurer does nothave to pay from his pocket. He simply pays annual premiums to the auto policy company. The auto insurance company, in return, settles all or almost most of the charges vis-a-vis the auto accident or any other damages to the vehicle. Auto is also termed 'car', 'motor' or 'vehicle insurance', which means the insurance bought for car, motorcycle, truck.
Auto Insurance Premiums
Auto insurance premiums differ depending upon the age, gender, driving expertise, safe driving, accident and traffic rules follow-up record, and certain other factors. Many people prefer to purchase extra insurance cover to protect them better. A bad driving record or the urge for more coverage will need to pay higher premiums. However, you can minimize premiums by opting for car add ons and deductibles.
Car Insurance Policy
Before measuring the lengths and breadths of driving at different terrains and highways on your dream car, do you know that you have to fulfill pre-requisites, without which you cannot bring your car on the road? And the main two requirements are: (a) Buying policy of the car is mandatory; and (b) Also mandatory is third-party insurance. So the moment you have the desire to purchase a car, just first think of buying a full comprehensive car policy along with a third-party cover.
The full comprehensive cover for car will make you worriless from all accounts of harm to your car – theft, loss, burn, man-made and natural calamities, accidental damages and so on and so forth. Whereas physical injuries to self and third party will be sufficiently taken care of by the insurer, the third-party liability being wholly and solely of the insurer, even liability of death of the third-party will be compensated by the insurance company. Mind you, the compensation towards death of the third-party can go to as much as tens of lakhs of rupees, depending upon the third-party's age, status, dependents etc. The only precaution on your part has to be that your insurance policy stands renewed in time.
Online Car Insurance Policy
You are advised to always go for online car insurance policy. It has lot many advantages. Salient benefits are as follows:
a) Free online quotes
b) Cashless facilities in the network garages
c) Renewals of policies can also be undertaken online
e) At the time of renewal of policy, if there was no claim during the last year, you will get No Claim Bonus (NCB) upto 50%.
f) 24&7 claim assistance is available.
e) 24&7 road-side personal assistance is provided.
Kirti Saxena is a web enthusiast and a writer for different areas including insurance and banking and numerous other sectors. For more information visit: Auto Insurance and Car Insurance Policy .