The Best Car Insurance Options & Deals
Start – The Best Car Insurance Options & Deals
The importance of car insurance
Car insurance is one of the most important products for every individual looking for a car, which is one of the most expensive purchase of an individual. It can be estimated that every second car is insured, which means, this product is not merely reserved for rich people only but every single driver who wants to save money for the purchase of his car can use this product.
In case of any road accident, the car insurance will cover the cost of repair of the car, and the vehicle too. Bearing in mind the importance of car insurance you should always pay for car insurance early to get it extended and taken as per your convenience. Many times, people forget to do this and end up paying a huge sum of money for the renewal of the policy which is denied and the car is not insured.
Choosing the right car insurance for you
Securer and Rural Electrification Corporation, have come together to offer a car insurance cover to select customers. You can avail the insurance cover for uptown ₹50 lakh in 30 days. However, you will be required to pass a fitness test and perform a road safety exercise before you can avail the insurance.
“Rural Electrification Corporation (REC) has collaborated with Securer, a one-stop home and vehicle insurance brand. The collaboration was introduced with a view to address issues faced by rural population regarding transportation, medical treatment and life insurance, which are the key components of the Pradhan Mantri Jeevan Jyoti Bema Yojana,” said Hemant Goyal, Chairman, REC, while addressing media. How to book car insurance?
What is ICR?
Inter Corporate Rating Centre (ICR) is a part of the Insurance Regulatory and Development Authority of India. ICR rating involves giving the insurance companies an opportunity to get information about an insurer’s financial status, internal controls, and management system in order to help improve overall business and strengthen their rating.
Insurance Rating (IR) The IR process is mainly based on a range of factors like the insurers’ capital and reserves, net income, and risk-based capital. A credit rating provides ratings on an A1 to AA level (5 to 10), A1 (5 to 10) to A+, AA (10 to 15) and A++ (15 and above). 1.
What is a Network Garage?
A network garage is a company that is tied up with a insurance provider, and manages cars that are insured by the insurer. The car owner’s coverage is taken care of, and the driver can focus on other important things. While using an insurance provider’s network garage has its disadvantages, like missed claims, and no claim bonus, there are many advantages of using an insurance provider’s network garage too.
Click to Enlarge Here are few things you should keep in mind while using an insurance provider’s network garage. Dispute Resolution Mechanism: These are the most important advantages of using a network garage. Most network garages have a dispute resolution mechanism in place, and are very fast in resolving any kind of disputes that you might have.
These are the best and the most trusted car insurance companies in India, chosen by few of the Indian tech startup founders and top internet marketing professionals. It is a good strategy to trust the car insurance companies which are established in India, as compared to other countries.
As I am not related to the tech industry, I’m not aware of the competitors and details of other premium car insurance companies. Also, I do not want to analyze the car insurance companies in depth as it would be too much time-consuming for me.
All these companies provide excellent customer services and insurance solutions. If you use these companies, I am sure you would get the best car insurance deals in India.