Car insurance protects against accidents affecting your car or causing injury to others. Whether you’re getting a new policy or already have coverage, this article addresses common questions about car insurance. Read on to find answers!
Frequently Asked Questions About Car Insurance
- What Distinguishes Comprehensive Motor Insurance From Third-Party Motor Insurance?
Legally necessary, third-party insurance guards against any physical harm or car damage to a third party. The policyholder, however, is not permitted to sue for personal injury under their car insurance policy. A comprehensive motor insurance policy is an all-inclusive insurance plan that covers both own damage and third-party damage claims. It also includes coverage for losses from burglaries, fires, theft, and natural disasters. Make sure you carry out the process of motor insurance renewal on time. Claims are subject to terms and conditions set forth under the motor insurance policy.
- What Does A Car Insurance No Claim Bonus (NCB) Mean?
The insurance company rewards policyholders who do not file any claims during the year with a no-claim bonus. Depending on the insurer, it is distributed as premium concessions ranging from 20% to 50%. This concession is still available to policyholders even after their policy has expired. But only if you do so within ninety days of the policy’s expiration date. Claims are subject to terms and conditions set forth under the motor insurance policy. *
- What Causes The Denial Of Car Insurance Claims?
Some of the most frequent explanations for your vehicle insurance claim being denied are listed below:
- Driving under the influence of alcohol caused the damage.
- Should you file a claim for losses your insurance policy does not cover?
- If the policy’s guaranteed amount is depleted within the allotted time.
- If you have broken traffic laws like operating a vehicle without a licence.
- Is It Prudent To File A Claim For Minor Damages Under My Car Insurance Policy?
It is generally advised against filing a claim for minor damages under a motor insurance policy. Any claims you file throughout the year will impact your no-claim bonus. For instance, you may qualify for a 25% policy concession if you have yet to claim car insurance in the previous two years. The no-claim bonus concession grows with each year that passes without a claim.
- If I Sell My Car, Can I Transfer My Third-Party Insurance?
The policyholders can transfer their third-party car insurance coverage to the new car owner. To proceed with the process, a buyer must apply and pay an endorsement fee within 14 days of the transfer date.
- Which Car Insurance offers Supplemental Coverage?
You can pay an additional premium to include a variety of add-ons in your motor insurance policy. Common add-ons covered by car insurance include no claim protection, engine protection, and zero depreciation. Similarly, policyholders can purchase additional add-ons to their basic bike insurance policy, such as zero-depreciation and personal accident coverage. Claims are subject to terms and conditions set forth under the motor insurance policy.
Apart from the motor insurance questionnaire mentioned above, there are additional pertinent details that you ought to be aware of. You should carefully review the terms and conditions listed in the policy document before purchasing car insurance. This guarantees you will quickly deal with the company’s claims and avoid fraudulent services.
*Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.