Things to Check Post the Issuance of Your Car Insurance Policy
The world of insurance is growing at a faster rate, making innumerable insurance plans available for your car in the market.
To purchase the policy of your choice, you should evaluate your needs and requirements and choose the one that fits your budget.
Having a car insurance policy not only ensures that you follow the laws and rules,
but it also acts as a financial cushion that will incur expenses in case of accidents, thefts, natural calamities, etc.
A decade ago, buying insurance was a tedious task but it has evolved over the years and has become extremely simple and easy. It has turned out to be less complicated - all thanks to the internet. You can easily get a plan for yourself from the comfort of your home. You only need to check the terms and conditions of the policy along with a few other factors to get the best plan for yourself.
Similarly, you also have to check a few things once a policy has been purchased. What are those? Let’s find out in this article.
Things to Check After Your Car Insurance Policy Is Issued
After the policy has been issued to you, here are a few things you must check-
Check all your personal details carefully. Make sure all the information such as your name, your communication address, your email address, etc. are accurately mentioned in the policy copy.
Checking your vehicle details is as crucial as checking your personal details. All the information related to your vehicle such as the vehicle number, make and model, fuel type, the colour of the vehicle, engine number, chassis number, etc. should be correct and up-to-date.
3️⃣Tenure of Your Policy
The policy tenure is the duration for which the policy provides you coverage. Check if the commencement date and the end date of the policy are correctly mentioned to avail of its benefits without any hindrance and future hassles. Additionally, it will also keep you informed about the next renewal date so you can renew it on time and ensure that your policy stays active.
The cover amount is the maximum amount you can claim as compensation in case of any contingencies like accidents, car theft, natural calamity, damage to the third party, etc. So, after issuance of your policy, check if the cover amount is mentioned correctly and is the same as selected at the time of the purchase.
Add-ons are the additional covers that enhance your policy coverage at extra premiums. For instance, roadside assistance cover, personal accident cover, agency repair add-on, off-road cover, etc. Some insurers may offer these within the ambit of your policy, while others may charge you extra.
So, before you confirm your policy purchase, check if the add-ons mentioned in the policy document are similar to the ones shown on the website. In case any additional add-on is purchased, make sure that it is clearly mentioned in the policy schedule.
6️⃣Save Your Documents Digitally
Documents stand as proof between you and the insurer. So, it is essential to secure your documents properly to avoid any misplacement. And, the best way to do so is by saving them digitally in an e-repository or e-insurance account. It also helps you access all your documents easily.
An insurance policy comes with numerous terms and conditions. To avail the best of your policy benefits, you should always check your policy thoroughly before and after purchasing it. It also keeps you informed of the policy inclusions and exclusions so that you avail full advantages of your policy. We hope this article gave you an idea of things to check after the issuance of your car insurance policy.