Are you making silly mistakes while using an online insurance premium calculator? Avoid these crucial errors to get accurate results and land the best premium that meets your requirements!
Do you remember the time just before you bought your car? Reading up pages of reviews online, looking at expert opinions, grabbing all the auto magazines you could get your hands on; yes, all buyers unanimously spend a deal of time finding the right car that is a perfect addition to their family. And, yes that’s how it should be done!
Indian Auto-Owners Don’t Realise the Potential of Car Insurance Policies
Sadly, these same buyers don’t even spare a fraction of time when it comes to buying insurance for their vehicles. Most Indian auto owners just opt for the minimum coverage recommended by the authorities. In fact, they just blindly choose the package offered by vehicle dealers. This not only proves to be ineffective and ill-suited but also ends up being costly in the long run.
Simplify your Search for the Best Car Insurance Policy
Worried that you don’t know the ABCs of vehicle insurance? Stumped by the technical terms? Put your fears to rest!
This is where a Car Insurance Calculator comes in!
What is the Vehicle Insurance Premium Calculator and What does it do?
This is a dynamic online tool, which you can use to calculate the right car insurance premium that meets your requirements. Almost all leading motor insurance providers have this tool on their site. All you have to do is visit the URL of the tool, specify a few essential details, and voila the ideal premium amount for you is displayed on the screen.
However, there are a few common mistakes insurance buyers make when using the premium calculator tool.
Here is the list of common mistakes and ways to avoid them:
- Failing to use the Calculator
This one’s pretty obvious. Most auto owners aren’t aware of the existence of the insurance premium calculators, or fail to use them. They just opt for the first policy they come across. This one’s a grave mistake.
By failing to use the premium calculator, you not only miss out on the best deal for you but also end up paying huge premiums that burn a hole in your savings.
Simply put, always check out the vehicle insurance premium calculator before you buy the policy.
- Not being aware of the Vehicle Details
To get the best results from the calculator, you have to specify details about your vehicle like the manufacturer’s name, variant, sub-type (if any), vehicle model number, registration date, year of manufacture, fuel engine type, and others.
Most owners don’t have these details on hand when using the calculator tool. This makes them take random guesses, causing a skewed output.
Make sure that you collect all the required details about your vehicle before you log into the calculator.
- Choosing Unnecessary Add-Ons
When it comes to vehicle insurance, there is an array of add-ons available with the standard policy. It’s tempting to opt for all the fancy ones, without considering their usage. These add-ons not only lower your risk quota but also add a hefty amount to the premium you have to pay.
So, make sure that when you use the calculator tool, opt only for the necessary add-ons to keep the overall costs down.
- Opting for the bare minimum
This falls in the other end of the above point. Most car insurance buyers make the mistake of just opting for the bare minimum coverage. This will keep the premium of the policy to the minimum, but it will not give you adequate coverage in case the repair cost is much higher.
Make sure that you opt for a policy that comes with comprehensive coverage.
- Failing to Compare Insurance Plans
This is the mother of all mistakes. The insurance calculator tool will provide you with several choices. Make sure to scrutinize each one to pick the right plan that offers you the best benefits for the best price.
There’s no denying the fact that the insurance calculator tool simplifies your decision-making process. It helps you evaluate the options available in the market and enables you to pick the right plan that matches your needs. Avoid the mistakes listed above to get accurate results.
