Best Car Insurance Policy for People in Their 30s
Are you looking to buy an appropriate car insurance policy when you reach your 30’s? Read the whole article will give you a complete answer on the ideal solution.
Car Insurance Before 30 - According to new research, people become matured when they reach 30 or beyond. It is the actual time when a person becomes a grown-up. A lot of things can happen in your life when you are in your 30’s. Typically, it is the time when you are settled down financially, planning to get married or having kids, looking to buy a home and a luxurious car for your family.
It is the time when people exactly know what they want from life. Besides, it is also the right time to think about a way to protect your family, yourself and your possessions. The thing is that, if you are thinking about buying a comfy car for your family, you also need to know about the ideal car insurance plan to save yourself from a deep financial ruin. But, the question is what are the things people should know before buying an appropriate car insurance policy when they reach 30’s? In this era of the internet, we know there are multiple platforms from where you might get the answer, but what will be the best - this article. Reading the whole article will give you a complete answer to the ideal solution.
Things You Make Your Car Insurance Plan An Ideal Car Insurance Policy
- Correct Car Insurance Policy
- Appropriate Add-ons
- Paperless Policy
- Easy Renewal
- Good Claim Settlement Ratio
- Good After-sales Services
1. Correct Car Insurance Policy Coverage
As you are thinking about buying a car for you or your family, you are probably aware of the fact that buying a car insurance policy, at least a third party is mandatory as per law. Firstly, you have to know that there are three types of car insurance policy in India, such as third party, comprehensive and standalone own-damage. A third party policy provides third party liabilities caused by the insured’s car including bodily injuries, death and property damage up to Rs. 7.5 lakh. In third party policy, since there is no coverage for damages suffered by the insured’s car and no availability of add-ons, it is always recommended to purchase a comprehensive policy. Besides, when you are in your 30’s and planning to buy a new car, you might be new to driving, so it is strongly recommended to buy a comprehensive car insurance policy.
2. Appropriate Car Insurance Add-ons
When you reach your 30’s, it means you are financially settled and can spend money to purchase a new car for you and your family. Since it is suggested to get a comprehensive car insurance policy, you could get several add-ons along with that. There are several add-ons that you can choose from. If you are buying a new car, you should get a Roadside Assistance Cover, Zero Depreciation Cover, Emergency Travel Allowance and an Engine Protection Cover, if you live in a flood-prone area. However, these are some of the important add-ons to get in your 30’s, otherwise, you can also choose as per your choice.
3. Paperless Facility
In this golden era of the digital medium, people nowadays started demanding everything in a quick time. No difference in the car insurance policy. Moreover, when you are in the 30’s that means you are busy in your professional as well as personal life. So, to get the final documents of the policy, to renew it timely - everything can lead to wastage of time. The recommendation is, get a paperless policy. Paperless policy rather says, the digital format also cuts the worries which may arise if the documents are lost or tampered in an unfortunate event. Most insurance companies now allow their customers to show the insurance papers in a digital format. On the one hand, it saves a lot of time, and on the other hand, it can be considered as a small step towards saving the environment.
4. Easy Renewal
If you are planning to buy an ideal car insurance policy in your 30’s, you should consider an easy renewal process as one of the options. Initially, there were a lot of steps involving making calls, meeting the agents or visiting the insurance office and more. Now, the process becomes a piece of cake. It includes two steps such as entering details and the payment.
5. Good Claim Settlement Ratio
If an ideal car insurance policy means appropriate car insurance add-ons and a quick renewal process, it also includes a process to check the reliability of an insurance company. There are several important factors you should consider before purchasing a car insurance policy and a good claim settlement ratio is one of them. Claim settlement ratio defines a percentage of total claims settled to the total claims obtained in a year. It is a measurement to check how reliable the insurance company is as it helps to understand the tendency of the company compensating your loss.
6. Good After-sales Services
Another factor you should also consider before buying an ideal car insurance policy from a reliable company is its after-sales service. It refers to the various processes including free maintenance, cashless network garages to encourage the customer after selling an insurance policy. Giving a good after sales service after purchasing a policy is also an important measurement to check the insurance company if you are thinking about getting an ideal insurance plan in your 30’s.
What are the Benefits of Purchasing Car Insurance Online?
The following are the benefits of purchasing car insurance online:
- Requires minimal paperwork: The insurance purchased online can be purchased at your own convenience and the policy document will be emailed to your registered ID. Moreover, since the process is entirely online it requires none of the tedious paperwork that is usually required for policies purchased offline.
- No Middle Men: When you purchase insurance online it cuts off the requirements for the middlemen between the insurance company and their customers. Hence, the insurance company is able to provide better rates to the insurance holder when they purchase online.
- Convenience: When you purchase car insurance online, it can be done exactly when you need it. There is no need to coordinate with an insurance agent etc. The entire process can be completed in a few minutes in your home or even when you’re taking a break at work. Moreover, the payment can also be done online using cards or net banking.
- Policy Issued Immediately: When you purchase an insurance policy online the insurance provider will immediately send you the policy document to your registered email ID. However, if you purchase the insurance offline it takes between a few days to a week for the insurance company to send you the insurance policy document.
- Quicker Process: When you purchase an insurance policy online the entire process is much faster than when you get the insurance through an agent and purchase online.
- Comparing Options: The biggest advantage of purchasing insurance online is the option to compare the different insurance companies, the quotes they offer and their network of cashless garages.
For further reading:
How to Change from Third Party to Comprehensive Car Insurance Policy
5 Key Benefits of Comprehensive Car Insurance
Disclaimer: This article is issued in general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
