Agent vs. Broker: Whom to Approach?
Though broker and insurance agent appear similar, but there is a difference between the two.
Aren’t they both financial advisors?
Yes, they are! The only difference, but the one that really matters, is that an insurance agent sells the insurance product of only one insurance company while brokers deal with different companies at the same time. Hence, a broker may offer you a variety of insurance companies, as well as policies, to avail the best deal.
Those who are super busy can opt for a broker for their comfort and get insurance quotes and compare the same. But if you believe in verifying all the aspects and facets of a policy on your own, then consider yourself lucky because you can buy insurance online. You can get suitable insurance quotes that match your requirements and settle for the one that suits you the best.
Choose Add-on Cover Smartly
Adding a cover brings more value to your base plan. Sometimes, you may feel that it is a waste of money. But it is not. By buying an add-on cover, you can save more as well get more. Buy a cover only if the vehicle requires it. Picking a cover as per the requirement is an ideal choice. Zero depreciation, NCB protector, and car engine protector are some of the most beneficial covers that will pay off in the long run.
What about Discount?
What if you haven’t claimed your insurance yet?
If so, then it is good news. If you do not claim the insurance in a given period, you would be rewarded with No Claim Bonus. NCB is offered for every claim-free year as a discount on your insurance premium. The bonus could range from 20% to 50% for five years. By grabbing this opportunity, you can save a lot on premiums.
Moreover, there are other options that can help you trim your car insurance premium, such as fitting an ARAI approved anti-theft device in your car. It will secure you a discount of 2.5% on own-damage premium. Also, you can save on premium by becoming a member of any automobile association.
Conclusion
We hope this article guides you in purchasing the right insurance plan. Hopefully, these tips will make your experience of buying car insurance less confusing. The best way to get a fine deal is an online comparison as you get to compare the plans on the basis of parameters like benefits, features, claim settlement process, premium rate. This way you get an overall idea of various plans and their offerings, enabling you to take an informed decision and landing yourself a good deal.