Buying third party car insurance? Here's your quick guide

1. Buying third partycar insurance? Here's your quick guide DHFL

2. Introduction • Cars have become a status symbol and a necessity in today's time. However, it's common to think of other costs such as the cost of registration and taxes, the financing costs, and most importantly the cost of insurance. • Therefore, buying car insurance becomes important and secondly as per the Indian Traffic Law, it’s mandatory to buy at least a third party car insurance to drive your vehicle on the roads. After all it’s well said, "Prevention is better than cure."

3. Factors • Price: The more expensive the car, the more costly will be your insurance. It’s because for a third party car insurance, the insurer will bear the damages done only to the third party property or physical damage, however, in the event of comprehensive cover they have to bear the costs on both the ends. Thus, more expensive vehicle means a bigger pay-out for the insurance firms. And they would gladly pass these costs to you in the form of higher premiums.

4. Repair Costs • High-end or imported cars prove very costlier to repair. It takes particular expertise to fix the issues. So, if you own an imported or high-end car with more expensive parts then you'll have to pay higher insurance costs.

5. Age of your Car • New cars are expensive to insure because their parts and accessories would come at higher costs. And older car insurance would come at cheaper costs. In fact, the expert suggests its better go for only third party car insurance cover for older cars instead opting for a comprehensive policy.

6. Drivers • Insurers Company assumes that you would be the driver of your vehicle. So, people who drive recklessly are more likely to take risks and wind up in accidents. Therefore, they might have thorough background checks of your driving history, number of pass incidents and if you have completed a lesson from a certified driving school, etc. It will make an impact on your motor insurance.

7. Car Safety Measure • Today, most cars have basic safety features like airbags and antilock brakes. However, if you buy car insurance online you can tend to get more discounts if you have additional safety features like rare-parking sensor, speed alerts, electronic stability control, Tire pressure monitors, etc.

8. Conclusion • With a plethora of options available, it could be difficult to find out exactly what a vehicle will cost to insure unless you actually buy one. However, it’s advisable there are a lot of aggregator sites that will let you compare apple-to-apple of car insurance quotes to make an informed choice. You can estimate your insurance cost and buy a suitable policy that fits into your budget. • Compare and buy car insurance online, now!

9. Thank You