To buy your new cars insurance, know your rights!


15 Jun 2023

New Car Insurance: Know Your Rights.

Purchasing a car is an exciting event and something that many of us look forward to. But alongside the excitement of driving away in your new vehicle, there is an important step that we often overlook: getting the right insurance policy. Having the right insurance in place is essential for protecting your car and yourself against any potential risks. Knowing your rights when it comes to car insurance is the first step.

Buy your own policy:

Auto insurance is an important investment for drivers, and it can have a big impact on your finances. When getting new car insurance, it's important to do your research and make sure you get the policy that best meets your needs. You need to buy a minimum of 3 years of third-party insurance coverage, as mandated by the IRDAI, but your own damage coverage would be for only 1 year.

You should buy the policy that makes the most sense for you and your budget. This could mean getting a policy from a different provider or adjusting the coverage that's offered. It's also important to shop around and compare policies before deciding. Opt for riders that are necessary for you and not all. When it comes to new car insurance, it pays to do your homework and make sure you get the coverage you need at the best price possible.

Why should you get your own policy?

In the end, it's up to the client—not the insurer or even the dealer—to determine which coverage plan is appropriate. The dealer can offer his opinions, but it's the client who makes the final call. So, take some time before you buy and make sure that you have adequate auto insurance coverage to protect yourself financially in the event of an accident.

One of the best ways to save money on car ownership is to research and get your own auto insurance policy. Having your own policy can save you money in several ways. First of all, you can often get discounts for being a loyal customer, or for taking advantage of other special offers. Second, having your own policy means you get the best deals along with minimal paperwork.

Finally, doing your research means that you can always customise your coverage to meet your needs. You can choose the coverage that’s right for you and add extra coverage as needed, such as zero depreciation coverage, roadside assistance coverage and more. With the right policy and the right coverage, you can save a lot of money on new car insurance.

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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.