With rising middle class incomes in the country having Motor vehicles is no part of elite aspirations and is now considered as an important need like food and a house to stay.This typical need is being fulfilled depending one’s economic net worth.Some use it in the form of two wheelers and some as four wheelers which largely depended on the money one can afford.Similar to buying asset , motor vehicles also requires day to day maintenance and value protection and that is the reason why there is an additional need of buying motor insurance for it.Other the regular wear and tear which comes because of regular usage , there are situation of theft , issues dues to wrong handling of the vehicle , natural calamities , social unrest and things similar to them which can cause damage to your car or bike and this is where a tool like motor insurance come a great help.
Looking a typical motor insurance plan things might look quite complex like any other financial product.People might mess up things because of complex financial jargons and may make a bad decision. buy motor insurance Online plans or policy require an ample amount of research, reading through terms and conditions documents of various offering in the market and understanding the price to benefit matrix.There are close fourteen plus general insurance companies which are offering motor insurance plans today in India. There are separate plans for car and two wheelers.Plan from any insurer might look quite similar but they have their own USPs and shortcomings.The larger problem around selecting a wrong plan is not noticed at the time of buying the plan but the same is released when you make a claim. People generally forget to read through the internal terms and conditions and judge the plan based upon overview feature.People only judge plans based upon the sum assured and the price of premium that is asked for by the insurer. As we Indians are more attracted towards price discount lower premium always attract us.But we should know that lower price doesn’t means that you are buying a right plan.Something which is pricey may be more helpful, people forget to judge the price with respect to the benefits that one is getting.
One of the smartest way to make a smart decision regarding motor insurance is to look at online tools which can help you. There are online motor insurance platform which can help you to compare various motor insurance plans from multiple insurers at one go. You can use the various matrixes available which can help you segregate plans based upon internal features which people generally miss out while taking a decision offline. Online comparison of motor insurance plans through Motor Insurance Premium Calculator makes the process more easy to execute and help a policyholder to make effective motor insurance buying decisions. All these not only help you to compare plans based upon effective features that decisions the sum assured or the IDV of the plan but also help one to judge things based upon premium prices.Thus you not make a correct decision in terms of buying the right plan and but also the cheapest plan in the market.This is makes you the most smartest policyholder of motor insurance.