7 Reasons to Buy Car Insurance from Reputed Insurance Provider

If you are a first-time car insurance buyer, it is natural that you may look for tips online to make the right buying decision. Browse through some reliable insurance portals, and you will find that one of the important tips that the experts recommend is to consider the reputation of the insurer.

They recommend that people should always select a reputed insurer for their car insurance no matter if they want to purchase third-party or comprehensive insurance. But why this emphasis on the reputation of the insurer? It is because of these significant reasons-

1. Better Coverage

One of the biggest reasons why a car insurer has achieved such widespread popularity among customers is the coverage it offers. When you buy car insurance, you can compare the car insurance coverage of a reputed insurance company against the coverage provided by a relatively newer insurer, and you will understand the difference.

Your car is one of your prized possessions, and you'd want the best for its safety. It is through a feature-packed car insurance policy from a top insurer that this can be achieved.

2. Competitive Premiums

A trend currently prevalent in the car insurance market in India is attracting customers by advertising low insurance premiums. If you want to buy car insurance online, you will come across several insurers promising the cheapest premiums.

Such policies often have hidden charges or limitations on the coverage, which will ultimately make the policy more expensive in the future. Reliable insurers are known to offer extensive car insurance coverage at competitive prices to help you get the best value for your money.

3. Higher Claim Settlement Ratio

One thing common among top car insurers in India is their high claim settlement ratio. It is a calculation of the number of claim applications received by the insurance company and the number of claims they settle in a year. The higher the claim settlement ratio of an insurer is, the higher will be the chances of your claim getting sanctioned by them in the future. 

This makes it one of the most important considerations when you buy car policy online. IFFCO Tokio has the best claim settlement ratio in the industry.

4. Hassle-free Claim Filing Process

In case of an accident or car theft, you must file a claim with your insurer to get reimbursement for the loss. With top insurers, the claim filing process is smooth and quick and requires minimum documentation. Some of them also allow you to file claims online or through their mobile application. 

If you go with an unreliable insurer, the chances are that the claim filing process will be time-consuming and complex. With no proper infrastructure to receive and analyse claims, you might also have to wait for a long time to get your claim sanctioned.

5. Wide-Range of Add-ons 

Add-ons are an excellent way to increase the scope of your car insurance policy. There are now popular add-ons like zero depreciation, 24x7 roadside assistance, key protection, engine protection, and NCB protection that you can purchase when you buy car insurance policy online. Reputed insurance companies like IFFCO Tokio are known to offer an extensive range of add-ons at nominal prices.

The same is mostly not offered by many insurers. The add-on options of most insurers are often limited and expensive too. 

6. Extensive Network of Authorised Garages

Car insurance claims are of two different types- cashless and reimbursement. With cashless claims, you are not required to pay the repair costs upfront. Your insurer will directly settle the bill with the repair workshop. On the other hand, reimbursement claims require you to first pay for the repair work and then get the amount reimbursed from your insurer. 

Cashless claims are more convenient than reimbursement claims. But the cashless facility is only available at network garages of the insurer. IFFCO Tokio have an extensive network of 4300+ authorised garages to ensure that a maximum number of policyholders can take advantage of the cashless facility.

7. Easy Online Purchase and Renewal

A lot of first-time buyers also struggle with how to buy car insurance online. Rest assured that if you are dealing with a reliable insurer, the whole process will be quick and hassle-free with minimum documentation. Apart from purchasing a fresh policy, you can also easily renew your car insurance online. 

As compared to offline purchase/renewal, the online medium is faster and more convenient. Moreover, once you purchase a policy by making an online payment, the policy documents are emailed to you within minutes. 

When you select a reputed insurer to buy vehicle insurance online, you are sure to receive a feature-packed insurance policy that offers the best coverage at competitive prices. Moreover, you will also get to choose from a wide range of add-ons.