All the people in the world who want to enjoy a peaceful and secure life plan everything according to their lifestyle. Most of the people who own a car does proper planning for the maintenance of their car and buy motor insurance to tackle with unforeseen expenses that may be needed for the repair of the car.
THE IMPORTANCE OF CAR INSURANCE
No matter what type of motor vehicle you own when it comes to the road it is normally considered a threat not only for the driver himself but for all others who are moving on the road including the pedestrians. The cars roaming on the roads are considered a threat to even the properties of third parties that get involved in the case of an accident.
There are many drivers who don’t think that they need insurance in order to drive the car. Some people claim to be the best drivers as they observe all the security measures and always abide by the law. They think that they can never be a cause of an accident due to their good traffic sense and cautious driving. Every driver should keep this thing in mind that all the accidents that happen on the roads are not necessarily the result of fault of two parties sometimes they do happen due to other drivers fault and are never pre-planned. Most of the accidents occur in the blink of an eye and none of the parties involved have previous knowledge about its happening.
The purchase of a perfect motor insurance plan plays a vital role in meeting the expenses that incur on different things in case of accident from the treatment of injuries to the repair work of the other parties vehicle. In some accident even the property of third parties are harmed and paying compensation for them costs you a fortune if your vehicle is not insured.
MOTOR INSURANCE TIPS THAT COULD SAVE YOU A FORTUNE
PAY ONE YEAR’S PREMIUM AT A TIME
If you want to save your money while purchasing a motor insurance plan you should try to submit one year’s premium as a single payment. Most of the insurance companies spread the insurance premium to 12 parts to earn more money on purchase of every single insurance plan. Paying the premium in installments proves to be much more expensive than paying it in one go. In fact most of the insurance companies may charge you 30% extra money for providing you the facility of monthly installments.
NEVER OVER ESTIMATE
It is a common knowledge that you have to pay as much as you afford when buying an insurance plan, never provide your company with the estimate that is fairly beyond your reach. There are several different types of insurance plans in which the premium is kept low but the compensation is jointly paid by the insurer and you. If you provide your insurer with wrong estimate you might have to pay heavy charges in case of accident as the coverage for the people affected by you. Always try to provide realistic excess.
NEVER HIDE THE TRUTH
It is advisable for all those who want to purchase motor insurance plan for their vehicle to tell the insurer the truth. Always try to tell the insurer the complete truth about your car like who will be driving your car most of the time, whether you park it in a garage or on the street. In case you park your car on the street and have mentioned in your insurance plan that you keep it in a garage the insurer will not pay a penny if it is stolen from the street due to false information provided by you.
WHILE PURCHASING A COMPREHENSIVE COVERAGE PLAN CHECK THE COVERAGE CAREFULLY
When you pay your hard earned money to buy motor insurance for your vehicle it is your right to check the coverage you insurer provides in a comprehensive coverage plan. There are many case in which people buy the cheapest comprehensive insurance available in the market but when the time of claim comes they are unable to get the coverage for things like windscreen cover, a courtesy car or any payment for the legal service required in case of an accident.
AVOID MAKING CLAIMS FOR MINOR ISSUES
In case of a minor accident it is beneficial to get your car repaired by yourself and don’t make a claim. It is the duty of the insured to report an accident to the insurance company so in case you have an accident you should inform the insurance company as soon as possible but do not make a claim. Making a claim for minor repairs may be a reason for increase in your premium by your insurer.
CAPTURE THE DAMAGES OF ACCIDENT IN PICTURE OR VIDEO FORM
One wise thing that you should do in case of a minor accident is to take pictures or make a video of the damage done to your vehicle as well as that of the other party. In many cases the other parties make exaggerated claims. In order to make the other party make true claims it good to capture the accident in pictures and if you find someone who is the eyewitness to the accident you can take his contact information and inform the insurance company about it.
RENEW AFTER RESEARCH
There is one common trend among the people who purchase motor insurance, and that is the renewal of the insurance plan with the same company every year. Today, there is a lot of competition between the insurance companies and this race has been a blessing for many people as there are bright chances of getting motor insurance at affordable premium rates with a number of perks. So to avail added perks it is good for you to do some research about the motor insurance companies, their reputation and the service they provide. By doing some research you might find a motor insurance plan that fits your needs and is pocket friendly too.
KEEP YOUR INSURANCE COMPANY UPDATED ABOUT YOURSELF
There are many factors that contribute to invalidity of insurance ,to avoid the acts that lead to invalidity of your motor insurance always keep your insurance company updated about changes in the information you have already provided them with like your phone number, your address and your occupation.