Own a car? Well if one owns a car then definitely he/ she would want to be protective about the car and also want to bear the minimum possible expenses or losses incurred due to any harm caused to the car or by any accident. Thus for the one who owns and drives a car, buying car insurance is one of the many necessary expenses.
Car insurance is a kind of protection for your expenses in case if any catastrophic event occurs. However, different car insurance policies provide different types of covers. For example, the car insurance policy that provides coverage for the damages caused by an accident may not necessarily provide coverage or replacement for damages caused by flood or by any of the other natural calamities. Depending on the car as well as the usage of the car one can decide the type of policy he/she should go for. Not all the policies provide full coverage or all the benefits together.
Also not all the cars are in need of a car insurance policy that offers full coverage. Now a day one can buy car insurance policy online as well as offline. Both online and offline sources provide a wide range of policies one can choose from. Better to research on both (online as well as offline) platforms and compare various policies before buying one. It is better to be frank and truthful about the car usages and requirements for the insurance policy to the car insurance agent so that the agent or the insurer can guide the buyer correctly and also provide the buyer of the car insurance policy with the best possible policies matching his needs. Read the fine print printed on the policy carefully to know the full details about the policy which sometimes the agent might miss to inform you about.
There are situations where people have leased or rented a car or the vehicle is provided by the employer of the one presently owning it. Most of the times the actual owner of the car is not liable to pay the expenses incurred due to the damages caused by undesired event. What to do in such cases? Under such circumstances there is usually a big misconception among people that they cannot own a car insurance policy and thus have to bear all the expenses themselves. Well good news is that even under the above conditions (not owning a car) one can own a car insurance policy. Such car insurance policies are usually termed as rental car insurance policies. These policies are valid for the time till you keep or rent the vehicle with you. Also they have separate procedures for such policies.
It is advisable to read the entire document properly. Also ask all your doubts (even the silliest ones) to the agents and be clear. Only when you are sure that all your concerns are cleared and you are satisfied, by the response of the car insurance agent and the car insurance policy (its coverage and benefits), then sign the contract document.
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Pranav Sharma is an insurance broker based in Mumbai; Pranav assists individuals in purchasing the right car Insurance policy in India & often shares his insights about the Motor insurance industry on internet.
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