Are you about to buy or renew a four wheeler insurance plan? If so, this blog is the perfect read for you. Quite often, there are many myths that stand in the way of you getting the right plan for your needs. To help you steer clear of any misconceptions, we have listed down 6 major myths on four wheeler insurance and unveiled the truth behind them for you.
Myth 1 – If you drive well and have had no accidents, you do not need four wheeler insurance
Fact – It is mandatory for all motorists to have at least third party motor insurance in India. Moreover, having comprehensive insurance covers you against natural and manmade calamities (which have no connection with your driving abilities). So, it is important to have a motor insurance policy no matter what.
Myth 2 – Four wheeler insurance is only required for new vehicles
Fact – As stated in the point above, it is mandatory for all motorists to have at least third party insurance for their vehicles. This has been laid down by the Motor Vehicles Act, 1988. Driving without this basic form of coverage – for old and new vehicles – will see you incur penalties.
Myth 3 – Comprehensive car insurance covers all kinds of claims
Fact – Even comprehensive car insurance comes along with its own exclusions to coverage. For instance, you will not receive coverage if you were driving under the influence of alcohol. You will also not be compensated for the general wear and tear of your vehicle or for damages caused due to war. For a full list of the exclusions, do speak with your insurer.
Myth 4 – It is not advisable to buy four wheeler insurance online
Fact – Insurers offer their plans on their websites for you to easily view and buy coverage. Buying vehicle insurance online is an easy and hassle-free process. Plus, the four wheeler insurance plans that you get online are generally cheaper too. So, go ahead and buy your motor insurance plan online without any worries.
Myth 5- Making a claim is really difficult
Fact – This is completely untrue. Leading insurance companies take great efforts to ensure that you experience an easy process when you raise a claim. You can raise a claim on your four wheeler insurance plan on the insurer’s website. If you get stuck at any step of the way, you can contact them on their helpline and speak to a customer service representative.
Myth 6 – If you change insurance providers, you lose the no claim bonus
Fact – You do not lose the no claim bonus if you change insurers. So, go ahead and pick the perfect four wheeler insurance provider whose coverage and budget suit your needs. Do not feel compelled to stick with an insurer whose services you are not happy with.
With these myths out of the way, go ahead and get the right motor insurance coverage for your vehicle. Remember to wear a seatbelt and drive safely. Take care.