How to compare your car insurance policy?


12 Jun 2023

Factors to Consider When Comparing Car Insurance Policies

Comparing car insurance policies is an important part of being a responsible car owner. It helps you find the best coverage for your needs and the lowest cost for your budget. With so many car insurance companies out there, it can feel overwhelming to compare them all. But don't worry! We’ve got you covered.

In this article, we’ll walk you through the steps you need to take to compare car insurance policies and make sure you’re getting the best deal.

How should you compare car insurance plans?

Here are some factors that you need to consider when shopping for your ideal car insurance policy:

  1. Coverage

When shopping for car insurance, it’s important to consider the coverage of each policy. Different policies offer different levels of coverage and can vary greatly in price. Knowing how much coverage you need and what’s available can help you find the right policy for your needs within your budget.

  1. Add-ons available

Shopping for car insurance can be overwhelming. There are also a variety of add-ons that come with each policy. It is important to take the time to understand all of the add-ons that you can get with your car insurance policy. Add-ons are additional benefits that are added to an insurance policy and can include things like roadside assistance and zero depreciation coverage.

  1. Insured declared value:

When shopping for car insurance, it is important to understand the concept of IDV or the insured declared value. IDV is the highest amount a car insurance provider will pay you in case of theft or total damage to your vehicle. It is calculated on the basis of the car’s model, age, and other factors.

  1. Availability of network garages

When looking for car insurance, it is important to compare the network garages available from the various insurance companies. Before you purchase your policy, make sure you are aware of which garages are affiliated with the insurance company and how far away they are located from you. This way, if you ever need to file a claim, you know that the nearest garage will be able to repair your vehicle under a cashless claim.

  1. Claim settlement ratio of the insurer

One of the most important things to consider when evaluating plans is the claim settlement ratio. The claim settlement ratio is a measure of the number of claims paid out by the company over the total number of claims filed to the company in that financial year. It’s an important factor to consider when looking for an ideal car insurance plan because it can tell you how reliable a company is when it comes to paying out claims.


As you can see, there are many different steps to take when you're comparing car insurance policies—but that doesn't mean it's a difficult or time-consuming process! Visit Kotak general Insurance and check kotak car secure insurance policy.

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Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.