'Some buyers get carried away by festival offers and purchase higher variants or larger vehicles than they truly need, which impacts running cost and long-term affordability.'
Even if you have a comprehensive motor insurance policy, it may not provide sufficient protection against monsoon-related risks.
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
It is essential to have a comprehensive motor policy, and not just a third-party cover, as the latter does not protect your own vehicle.
You must have heard about the term IDV from your insurance agent or you may have read it in your vehicle insurance policy. But do you know what actually IDV is?
For the vehicle-owner, the overall cost of buying a car can go up by 2% to 3$%. For two-wheelers, the cost can rise by 1% to 1.5%
The first and most important check you must run is to see if you have adequate life cover.
You will come across many a hurdle while purchasing a used car. That, however, cannot keep you away from realising your dream.
Insurance companies sell off inventory of flood-damaged vehicles to cut losses.
Tarun Mathur gives a quick low-down on what advantages one can have when buying motor insurance online
You must initiate the claim process within 7 days of the damage. The more time you take to get the vehicle to a service centre, higher the chances of your claim getting rejected.
A combination of add-on insurance covers can be helpful in managing finances and making life much easier, says Dhirendra Mahyavanshi
Vehicles are depreciating assets and lose their value over time.
As monsoon picks up, be ready to drive through water-logged areas and mushy roads. Since motor accidents typically see a rise during rains, motor claims also move up.
John Nelson, a GIS analyst with Michigan-based IDV Solutions, created this visualisation using cloudless images from NASA's Visible Earth team.
Buy comprehensive motor insurance policy to guard against natural calamities.
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
Experts suggest that it's best to go for the bundled product that has only one-year own damage cover.
Here's how to get more out of the premium you pay
Its not so tough to improve insurance coverage at nominal cost.
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