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Car Insurance Buying Tips

There are many factors the one needs to consider before making a car insurance decision. This is because; the kind of insurance they pick will make a difference in their life post buying the car. Having a good insurance policy is essential as it saves a lot of trouble in the future, and ensures that the owner’s interests are taken care of.  The major decisions regarding what car to buy, and how much to invest are matters that lie in the hands of the buyer. But the coverage on insurance differs from company to company, and so it is necessary to weigh the pros and cons carefully before picking the insurance policy.

There are certain factors to keep in mind while buying car insurance, like,

Car model-
What is the model of car you have bought? Is it a new model or has it been around in the market for over a year or more? This is a question you need to ask yourself before choosing car insurance policies. Depending on the age of the car, and the model, you can decide on the insurance policy. The cost of the car will have an influence on the policy you choose, since the expenses incurred in fixing repairs will be that much higher for a newer model car.

Cost of insurance-
How much are you expected to shell out every year as insurance premium and what are the features in the insurance policy? Does it cover all kinds of repairs or are there restrictions on cost levied? Knowing the amount of coverage you get will help you ascertain which policy will work out best for you and your car. Also at times, if the owner gets a speeding ticket the insurance company might increase the premium.

Coverage-
What kind of damages does the insurance company cover? Do they handle damages caused due to accidents and mishaps or will they cover only mechanical faults and repairs?  Also check the condition of the car when purchasing it to determine how good the condition is and what kind of quality parts are fitted in it. This way, you can save tonnes of money on getting new brakes installed or modifying the engine.

Extra fittings-
There are cars on the road that come with extra fittings, like speakers, or fancy bumpers. Now, in an accident, these could get damaged as well, and it would work out quite expensive to get them fixed. If you had to dig into your pocket, you would go broke, so check if the insurance policy covers these additional fittings as well  or works only with what the car was sold with.

Duration-
What is the duration of the insurance policy? Is it short term or long term? There are times when a policy is taken for 5years, but the owner might decide to sell the car ahead of time. At such times, can the policy be transferred to the new car or does that expire when the car is sold? 

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