Things to keep in mind while renewing your motor insurance policy

Having an active motor insurance policy is not only important but also mandatory under the Motor Vehicles Act. However, the mandatory one is the third-party motor insurance policy, which only covers third-party damages and not the damages caused to you. So, it is imperative to always get your car covered with a comprehensive motor insurance policy. This policy not only covers the third-party damages but also the damages that you may have inflicted upon your car. Here are a few things you need to keep in mind when renewing your motor insurance policy.

Premiums
If you think you are currently paying more in terms of premiums and not benefiting from the insurance policy that you own then in such a case, it is better to research online for a beneficial deal. You can refer to various sites, such as policy bazaar. These sites are sort of aggregators and there you might find the policy, which might suit your requirements in terms of premiums.

Policy type
Once you have shortlisted 3-4 insurance policies, the next thing you need to do is to look at the policy that would suit your needs. This means that you need to decide whether you need third-party motor insurance or a comprehensive motor insurance policy. Though it would always be recommended to go for a comprehensive motor insurance policy.

Check for add-ons
Add-ons help you to add more value to your insurance policy at a fairly reasonable price. Add-ons, such as NCB (No Claim Bonus), roadside assistance, zero depreciation, and engine protection, help you reduce your overall cost of replacement or repair. Hence, it is always wise to consider them. Though those will add to the cost of the premium, those are worth considering.