टेक्नोलॉजी 5 Important facts about car insurance By admin Posted on June 12, 2019 4 min read 0 1 26 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr The Motor Vehicles Act, 1988, mandates all car owners to at least own a third-party insurance cover. No motor vehicle owner can drive his or her car without opting for this minimum protection. You can be penalised if you are found driving without a valid car insurance policy. Motor insurance protects your vehicle and provides coverage in case it suffers damage due to any reason. Which policy should you choose? The question is important. Insurance Dekho shares some essential facts to consider while evaluating a car insurance policy. Right car/trim level When you choose a car, do look at its variants and cost of insurance. In most cases, the higher you go up in a car’s trim list, the lower the difference in insurance premium cost. This is because insurers see the addition of safety features – such as airbags, immobilizer, central locking, etc. – in the higher trims as factors that reduce the chance of an insurance claim. Type of Insurance There are two types of insurance that you can buy for a new car – comprehensive policy with add own or a liability only policy. In the case of a regular comprehensive policy, one needs to pay a certain part of the cost of repairs in case the car meets with a accident. The zero-depreciation type ensures that your car remains unaffected by depreciation. In practice, it means that the insurance provider will cover the entire cost of repairs carried out on your car. If you use your car occasionally, opting for regular comprehensive insurance type would be the right choice. For a car that is driven daily, a zero-depreciation policy works much better. Add-on covers Opting for the right add-on covers will increase the coverage of your insurance policy and ensure protection for you. Covers such as those for water ingress in the engine (hydrostatic lock), theft and accidents that lead to scrapping (return to the invoice) ensure you are not caught off guard. It is important that you consider add own basis your driving behavior before buying a policy. Anti-theft equipment Insurance companies provide you with favorable terms if your car has antitheft features such as central locking, immobilizer, etc. However, do ensure that the anti-theft equipment is Automotive Research Association of India (ARAI)-approved, or you would not be eligible for these terms. Opt for voluntary deductibles Voluntary deductibles allow you to lower the premium of your insurance policy. If you opt for Voluntary deductibles a portion of the claim amount will have to be borne by you.