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5 Cs to Consider while Buying Car Insurance

19 August, 2016

When making any investment you always measure the risks and benefits. You also need to follow this practice when buying a car, and more importantly, when securing insurance for your automobile. Before you sign on the dotted line, consider the five Cs as discussed below:


1.        Claim Settlement Policy


The best way to determine the reliability of an insurance company is to check the time taken for settlement of claims. This information is available by browsing through the past records of the company. You should also check if existing insurance is transferable without losing any benefits.


2.        Coverage


Vehicle owners need to determine the appropriate coverage on their car insurance plan. Most policies cover third party liability and damage to self. Third party cover is legally necessary, but coverage for the policyholder is optional, but highly recommended. Most reputed insurance companies offer a wide range of add-ons for the benefits of the policyholder.


3.        Customer Service


The entire experience of interaction with your insurer should be characterized by convenience and efficiency. Good infrastructure and online resources helps ensure that companies can provide car insurance swiftly and securely online. In addition, possible issues like cancellations and modifications should be processed quickly. In case of claims, cashless settlements should be available for quicker repairs at network garages.


4.        Communication Accessibility


The contact details of the chosen service provider should be easily available. In case of any issue, policyholders should have easy access to a specific number for the swift resolution of problems.


5.        Cost


Finally, the premium that needs to be paid on the car insurance policy must be considered. This amount is primarily based on the insured declared value (IDV), rate multiplier, make and model of the vehicle, age of the car, terrain (where the car will be used), and the daily mileage. Users should declare the accurate IDV to avail the right coverage and to avoid any issues in the future in case of a claim.


Remember to work with a reputed insurance company for maximum benefits at the minimum possible costs. Royal Sundaram’s car insurance policies are among the best, as the company is rated highly in terms of all the Cs. The company has a reputation for quick claim settlement, offers comprehensive coverage, has excellent customer service with a dedicated helpline number for assistance, and the policies are competitively priced. 

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