Paying premiums for motor insurance to the same
insurance company in India for a very long time can be a big mistake. Switching
insurer after few years is generally suggested by many industry professionals.
By switching insurers, policyholders can save some handsome amount of money.
But, insured should know that not every switch results to be productive.
Following steps help you in making an informed switch:
·
Compare Online and Shop Around
Some motor
insurance companies in India offer coverage for around six months and some
insurers give coverage for a year before their respective renewal. Therefore,
online comparison with prospective insurers is very necessary. Customers can
also get free online car insurance quotes to make a better decision. Compare
products in terms of respective coverage, limits, deductibles and benefits.
Online comparison is essential to know how various policies are going to affect
them all along the term period.
·
Review the Coverage Need
Marriage,
becoming a parent or relocation is some of the scenarios that impact the
coverage requirements. But, there are various plans that offer different
deductibles, limits and features. So, select a plan to avail the best cover
which you can easily afford. Mapping your requirements and thorough research
are two important steps involve in the process of buying online motor
insurance.
·
Contact Your Existing Insurance Company in India
All
insurance companies in India want to continue the business with their clients
and will be willing to compete really hard. Hence, some insurers instantly give
special deals to customers if insured hint strongly at leaving. Therefore,
ensure that you are not missing anything.
·
Be Careful While Selecting the New Insurer
Check the
performance, financial strength and experience of the insurer you select
through websites. Ask your relatives and friends about the same. Do not forget
to check online reviews.
·
Check Extra Benefits and Convenience
24*7
customer service is a main factor because you never know when you might seek
help. Some insurers offer online services to manage the car insurance plan,
track repairs and claims. For customers’ convenience, you can check the payment
modes of each insurance company in India.
Complete
the switch and cancel your previous car
insurance plan
When you
finish the ground work, make the switch. Make sure that your new vehicle
insurance coverage starts before or on the same day when your previous plan
ends. Rather than cancelling the previous plan, some policyholders just stop
the payment of previous plan’s premiums. But, it is not the right way to exist
a plan. Contact your existing insurer and inform that you are closing the
policy, and then confirm the same in written.
·
Get Your Identity Card
When you
get your new identity card, the policy becomes active.
Source : https://onlinecarinsuranceindia.wordpress.com/2015/08/18/how-to-switch-your-car-insurance-smartly/
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