Things You Need to Know Before Buying a Car Insurance Policy Online
Nowadays, purchasing car insurance has become much easier with the help of technology penetration. You do not have to deal with tedious application processes and heavy paperwork anymore. When you buy a car insurance policy online, the process is fast and pretty simple. However, you must keep some things in mind before you buy a car policy online, such as:
1. Choosing the right Insured Declared Value (IDV) IDV is the ‘Insured Declared Value’. At the time of purchasing your car insurance policy, you have to set an IDV that decides your car insurance cost, this value cannot be more than the present market cost of the car. You need to carry out a proper analysis before you decide your IDV, as setting it higher will increase the cost of your car insurance and setting a lower IDV could lead to a case of underinsurance.
2. No claim bonus A No Claim Bonus is the discount you get if you do not raise a claim in the previous policy term. You get NCB at the time of insurance renewal. One can think of NCB as a bonus that your insurer gives you for ensuring the safety of your car.
3. Read the fine print You need to go through the fine print if you are buying the car insurance policy online. Read through the details carefully as you might not know every exclusions and inclusion. Incomplete knowledge can lead to claim rejection in the future.\
These are some things you must keep in mind while buying car insurance policy online. You can consider IFFCO Tokio car insurance if you want to buy a car insurance policy online. In the policy, you get coverage against damaged caused by natural factors, such as storm, earthquake, flood, etc. and manmade factors like theft, burglary, etc.
IFFCO Tokio Address: IFFCO Tower, Plot No. 3, Sector 29, Gurgaon -122001 Haryana (India) Contact No: 1800-103-5499 Email id: support@iffcotokio.co.in Website: https://www.iffcotokio.co.in/