The only means to safeguard your vehicle and yourself against damages is by enabling the protective coverage of insurance of car.
The cost of the insurance is divided into two factors: the IDV or Insured's Declared Value and the Premium. The IDV, in case of car insurance India, is decided based on the market value of your vehicle and is the amount that you decide to pay for the damages out of your own pocket. The remaining costs is taken care by the car insurance companies.
You can always take a glance at the sample premiums from various car insurance companies before car insurance purchase or car insurance renewal to get an idea about the type of premium options being offered by the insurers. You can chip in your information in the policybachat car insurance calculator and find sample premiums for car insurance online.
IDV for car insurance India affect the premium to be paid.
The percentage of the total invested amount in insurance of car that you choose as deductible or the IDV determines the amount to be paid as premiums to the car insurance companies. As you increase the deductible, the premium automatically decreases. However this does not mean it is wise to choose a high deductible at random without considering the various factors that determines it. You need to be careful while deciding the amount of IDV you can pay and the premium that the car insurance companies are supposed to pay as the premium becomes a part of your annual expenditure.
You should take into account the following factors before deciding upon the amount of deductible and premium for the insurance of car.
Frequency of probable claims for car insurance India
You driving history always play a major role in understanding how often you might need to raise a claim for your insurance of car. Not only your driving skills, but also the area where your car is parked and the route on which you regularly commute help in deciding how safe your vehicle is from damages and how frequently you might need to claim for your car policy. If you think that you are a safe driver and your surroundings are not much prone to accidents, then you can always opt higher deductibles. This will reduce the premium for the insurance of car. On the contrary, if you are a new driver or you have a history of collisions and accidents, you should keep the deductible low.
Major car accidents are not a regular affair if you drive safely and your surroundings are less risk-prone. If you have a record like this, then choosing a higher range of deductible for the insurance of car is always wise. The minute repair charges for minor collisions will not be hard on your pocket. On the other hand, if you hold a record of rash driving and commuting through accident-prone areas, it is always good to go for lower deductibles to save yourself for the heavy financial losses every other month.
Premium that is affordable for you
Car insurance India premium is a payment you need to make regularly to take good advantage of the constant coverage of the policy. For that you need to decide the amount of money, out of your total annual income, that you can invest on the insurance of car. Hence, it is very important to decide carefully how much money you can pay as the premium and how much you can afford as the IDV for any kind of damage caused to your car.
In a nutshell, if you want to get the most favourable insurance of car, you need to scrutinize your driving history, your surroundings and regular commute and the frequency of occurrences of accidents there, your affordability, etc. and then take a judgmental call on the amount you will be investing in the insurance of car.
If you are looking forward to get the best car insurance, deciding on the above factors is not enough. You also need to be aware of the different car insurance India plans offered by various car insurance companies, compare them online though an aggregator and only then purchase the most suitable car insurance online. Web-aggregators like www.policybachat.com renders great help in comparing and purchasing insurance of car online.