Compare Car Insurance

Why Compare Car Insurance Online?

In this age of the internet and technology, you can access all kinds of information at your fingertips simply by clicking a few buttons on your laptop, mobile phone, or tablet. Here's why you should compare car insurance online.

You get to know about the different types of policies and customise

Most car insurance providers in India offer three standard car insurance policies – third-party limited liability insurance, stand-alone own damage policy (applicable only to new vehicles, which already have third-party coverage), and comprehensive car insurance. However, you have the option to choose your preferred policy and customise it to your liking. This is the type of car insurance comparison you can conduct online instead of relying on your insurance agent.

You can make informed decisions and save money

Most people are guilty of buying the insurance plan recommended by their car dealer. But such a policy may not always cover everything you need. With little online research, you can compare car insurance rates online and find a policy that provides better coverage. At the same time, you pay a relatively lower premium

You can gauge the insurance provider's credibility

A critical benefit you get when you compare car insurance online is that you can check how credible the insurance provider is. You can access information such as the insurer's claim settlement ratio and time taken to settle claims. You can also check how responsive its customer service network is, which is incredibly critical when you are in an accident and need to file a claim.

Car Insurance Comparison – Different Types of Policies Available In the Market

As mentioned above, there are three standard types of car insurance policies. While conducting a Car insurance comparison, you should know the meaning and merits of each of these policies.

Third-party insurance

Third-party car insurance policies, also referred to as limited liability policies, typically provide you legal and financial liability cover if your insured vehicles are involved in an accident. A third party insurance policy covers liabilities arising out of loss or damage caused to a third party. The policy also covers you against the cost of damages endured by a third party's property. This type of insurance is mandatory for all car owners under the Motor Vehicle Act of 1988, and if you don't buy this policy, you could be subjected to heavy fines, a jail term, or both.

Comprehensive car insurance policy

As is apparent from the term comprehensive, this is a policy that provides maximum coverage against various kinds of incidents. It also includes third-party coverage. However, unlike third-party policies, comprehensive plans also cover your vehicle against unpredictable incidents like damages in an accident and losses or damages arising due to natural calamities and human-made disasters – thefts, riots, vandalism, for instance. Since comprehensive plans also allow you to add additional riders, you should compare car insurance rates before you finalise a policy.

Own damage car insurance

Until 2019, car owners could not purchase a stand-alone own-damage insurance plan. This cover was only available as a part of a comprehensive policy, which included third-party coverage. However, as per the revised IRDAI rules, you can now purchase the own damage insurance cover separately. The insurer doesn't have to be the same one providing third-party coverage. Thus, you can now purchase car third-party insurance plans that cover you against third-party liabilities along with own damage policy for coverage against natural calamities and human-made disasters.

Comparing Car Insurance Policies – Factors to Consider

Consider the following factors when you compare a car insurance policy with another.

The premium payable

Car insurance price comparison is the first factor to consider. You must ensure that you find a policy that does not put a strain on your pockets while also providing maximum coverage. With adequate research, you can easily find a policy that fits your budget but does not compromise on the coverage aspect.

The type of coverage you can get

The goal of car insurance is to ensure that you get extensive coverage. Based on factors such as the area you live in (whether it is prone to thefts, excessive rains, and other situations), you should cover all your bases by opting for additional riders. You can choose from a wide range of add-ons by paying an extra price for each one. Commonly available add-ons include engine protection cover, zero depreciation cover, consumables cover, gap value cover, road-side assistance cover, etc.

The reputation of the insurer

Your car insurance policy is of no use if it costs you a lower premium but does not come to your aid at the opportune moment. As such, you must always ensure you buy your policy from an insurance provider with a respectable reputation. So, while conducting car insurance comparisons, remember to check the different insurer's claim settlement ratios, the number of customers in their network, how fast grievances are addressed, and so on

The insurer's network of garages

Yet another essential factor to consider while selecting a car insurance company is its garage network. Typically, insurers are tied up with various garages and mechanics where you can send your vehicle for repair work without making any cash payments. These garages are known as network garages, where the policyholder can get cashless repair services. Ensure you choose a provider with an extensive network of garages, not only in your residential area, but in your city. This proves incredibly beneficial during emergencies.

Reasons to Buy Liberty General Car Insurance

At Liberty General Insurance, we endeavour to ensure you get the best services. Here's why you should choose us:

• We offer a suite of insurance products and facilities catering to different budgets.
• You can buy our products online directly through our website with minimal to no documentation.
• You can also buy our products from trusted third party entities such as insurance agents and auto dealerships.
• You can just as easily renew and compare car insurance policy online and get exclusive discounts and benefits.
• You can accrue discounts in the form of no-claims bonuses, which can reduce your premium payments consistently, for the claim-free years.
• You can get transparent access to information such as our company's financial health and ability to settle claims, the claim settlement ratios and turnover time, and more, on our website and through our loyal base of customers.
• You can add and drop additional riders every time you renew your policy.
• You can customise your car insurance policy and modify it from time to time, as your family needs continue to change.
• You can choose a policy that not only fits your budget but also provides you extensive coverage.
• Our extensive network of over 4300+ garages across India enables you to avail cashless repair services.
• Our team of well-trained customer service representatives can help you with all your insurance needs, claim filing, and settlement queries every day of the week from 8 a.m. to 8 p.m.