Congratulations on taking the significant step of becoming a car owner! As you proceed on this exciting journey of newfound independence and mobility, one essential aspect you must address is purchasing new car insurance for the first time. It is a pivotal moment in your life, and understanding the ins and outs of how to buy car insurance is crucial. Insurance ensures your vehicle and your financial well-being are adequately protected.
Let’s understand the steps involved in buying four-wheeler insurance for the first time.
Steps to buy car insurance for the first time
You can buy car insurance by considering the factors below.
Determine the level of coverage you require by considering factors like your vehicle’s value, budget and driving habits. Are you in search of fundamental liability insurance or extensive protection? Assessing your needs will give you a clear understanding of your requirements.
Collect essential documents, such as your driver’s license and vehicle registration certificate. This information is a must during the process.
Shop around for reputable insurance providers. Compare their rates, coverage options, customer reviews and financial stability to make a well-informed decision.
Reach out to multiple insurance companies for quotes based on your specific needs. Ensure you provide consistent information to get accurate comparisons.
Familiarise yourself with the different types of coverage, including liability, collision and comprehensive covers. Know the minimum coverage requirements in your state.
Decide on a deductible amount, the sum you will pay out of pocket in case of a claim. Opting for higher deductibles commonly leads to reduced insurance premiums.
Once you have selected a suitable policy, complete the application process and make your initial premium payment. Ensure your coverage is active before driving your vehicle.
Regularly review your policy to ensure it suits your changing needs and remains affordable. Make payments on time to avoid coverage lapses.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the relevant industry. It is advised to verify the relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.