Auto insurance safeguards you while driving a car in India - By: Prajakta Ambre

Indian roads are some of the most congested roads to drive. The risks involved while driving a car in India are high and that's why purchasing auto insurance is important. No matter how careful or how diligent you are in following traffic rules, you need to be prepared for a mishap. Getting the right auto insurance for your car in India is important for your safety. This will safeguard your vehicle from theft as well as damage due to an accident. Moreover, insurance is mandatory according to Indian law.

Auto insurance for your car in India is affordable today. With a number of auto insurance companies and financial institutions vying for the top spot in the insurance market, attractive premiums and additional coverage are the order of the day. It is always advisable to buy auto insurance that would be useful in the event of a serious mishap. Many factors affect auto insurance premium, which includes the model of the car, cubic capacity, and the accessories, especially in the case of luxury cars. The premium also depends on the age of the car and the mileage.

In order to make the process less complicated, auto insurance companies have streamlined their policies to suit car owners in India. Most companies have tied up with automobile manufacturers to provide better insurance services. Auto insurance policies are generally of two types, comprehensive and third-party. While a third-party policy covers only damage to other people or property, a comprehensive policy covers the risks to both parties as well as the auto parts of your vehicle.

Things to do before purchasing insurance:
• With many auto insurance companies looking for a strong customer base among car owners in India, you need to compare a few policies prior to purchasing one.

• Get a few quotes from various insurance companies and check their credibility.

• Engage the services of an insurance broker to help you choose the appropriate policy.

• Always read the contract before you sign on the dotted line and make sure you provide accurate details in order to avoid any complications later on.

• For new cars, the insurance rates are the same amongst public sector insurance companies, while private players in the market have set their own tariffs. Premiums on used cars are lesser though the insurance needs to be transferred to the new owner within 14 days of sale.

About the Author

Remember to never be caught driving a car in India without proper auto insurance. This not only puts your life at risk but you will also have to face the legal consequences, if you do not possess an auto insurance policy. Your policy is your ticket to a safe and secure drive.

Article Directory Source: http://www.articlerich.com/profile/Prajakta-Ambre/54712

Additional Articles From - Home | Finance | Insurance