While people today know the importance of vehicle insurance, many would like to know whether they can purchase 4-wheeler insurance before buying a car. Read this post to know the answer.
If you’re planning to buy a car, you might have wondered whether to purchase a 4-wheeler insurance policy in advance. While it’s good to think of vehicle insurance in advance, you should finalise the purchase of your car before going for vehicle insurance.
Should a Person Have Car Insurance Before Buying a Car?
In India, third-party car insurance is a statutory requirement before taking your car to the roads. But you don’t need to buy 4-wheeler insurance before buying a car. However, you’ll need a valid car insurance policy when taking possession of your car, as you will be driving the car to your home.
Therefore, you can utilise the time before taking the final possession of your car to identify the 4-wheeler insurance best suited for you.
Finding the Right Car Insurance Before Buying a Car
You can use the following factors to decide on the right 4-wheeler insurance before buying a car.
Insurance Type
Third-party insurance is cheap but doesn’t provide coverage for damages caused to the insured car. Comprehensive car insurance can be a better option as it provides coverage for both own damage and third-party liabilities. Besides, you’re already spending a significant amount to buy a new car. So, taking ample insurance coverage is better to avoid financial loss in an accident, theft, or other damage.
Select the Right Insurer
Select a reputed general insurance provider with an established name and track record in the insurance industry. You can also compare car insurance online using the same parameters like claim settlement ratio, premium rates, ease of buying a policy, etc., to have an idea about a reputed and reliable insurer.
Check the Claim Filing Process
A major reason to buy comprehensive 4-wheeler insurance is to get quick financial relief if your car gets damaged due to an accident. Therefore, it’s vital to choose 4-wheeler insurance that enables you to file your claim quickly and without any hassle. For instance, many reputed insurers provide the facility of filing a claim against car insurance online or by calling a dedicated phone number.
Enquire About Add-ons
An insurer offers some extra services as add-ons against additional premium payments. If you’re a proud owner of a new or expensive car, consider including valuable add-ons to increase coverage. Some of these are listed below.
- Roadside Assistance
The roadside assistance add-on can immensely help if you face a vehicle emergency during a trip. For instance, consider a situation where you have a flat tyre or your car unexpectedly breaks down in the middle of the road. In these situations, your insurer can send a mechanic on the spot or arrange to tow your vehicle to its nearest authorised garage.
- Engine Protection
Any kind of damage to the car engine can result in expensive repair and maintenance work. However, the engine protection cover can ensure that you get reimbursed for the maximum of your expenses.
- Consumable Cover
This add-on cover ensures you don’t need to pay fully for consumables from your pocket, such as bolts, nuts, engine oil, etc.
In a nutshell, you won’t need to purchase car insurance until receiving possession of your car. Besides, purchasing 4-wheeler insurance in advance is practically impossible as you must provide your vehicle details while buying vehicle insurance.
However, keep your documents ready and buy car insurance as soon as you get the car keys.
