Listing down the most important 5 things to be known when finalizing car insurance:
Low Premium on High DeductiblesCar insurance companies decide prices on the estimate of the money they think they will have to pay you in case of any eventuality. However, if you agree to raise your deductibles, hence decreasing the amount that the insurance company has to give in your claim, they usually offer a low premium. Avoid opting for this unless you can afford to pay the deductibles.
Policy Lapse/ExpireInsurance companies don’t like car owners who do not have a motor insurance policy. They are considered an irresponsible and risky investment. So they fall back on the security of high premiums. Allowing your car insurance policy to lapse may cost you more than you think. The new policy will not come cheap for sure.
Zero DepreciationA zero depreciation cover is your safest bet. This type of cover offers full settlement without factoring in the depreciation. So in case, your car meets with an accident, a zero depreciation cover ensures you do not have to pay anything from your pocket for the damage caused vis-à-vis a normal car insurance that factors in depreciation and makes a considerably reduced settlement.
No Claim Bonus TransferUpgraded your car? You can transfer your accumulated NCB to your new car. Moved to a new insurer? Again, you can transfer your current No claim Bonus to the car insurance policy under the new firm. As simple as that!
Engine insuranceDid you know that you can opt for an add-on that would cover your engine as well to save you the cost of repairs that are not caused by an accident? Engine repairs can get pretty expensive, especially if the damage is caused by flooding, and this add-on will save you a lot of trouble, and of course, money! There are a lot many things more too which should be kept in mind but these are one of the most important. In case you feel that you should have more knowledge before purchasing insurance, visit us at Capital Hyundai and our team of experts would be able to assist you better.
Looking for car insurance? Contact Capital Hyundai today!