Are you keen to switch car insurance policy? The reason behind this could be that you have found a better or cheaper deal. And it could be better than your existing one. While comparing for insurance plans, it is possible that you could find a better insurance deal that suits your needs and also pocket-friendly.
This is why we have compiled some important tips here which will help you in making a decision. Have a look at them carefully.
Find the reason ‘WHY’ to Switch car insurance
Most of the people decide to change their insurance provider without any valid reason. It can usually be bad customer service, the worst website interface which will make your experience bad, or lack of essential add-ons. It can be anything. So knowing the actual reason for switching is necessary.
Now whom to select next?
It is the most crucial decision to select the provider. With the help of the internet, you can find all the insurance providers in a blink of an eye. And can switch car insurance easily. There are several websites available on the internet that helps you compare a huge number of insurers according to your need. It is a very easy and hassle-free way to compare where you don’t need to travel and visit their office.
Tips to select your insurance provider
- Claim settlement ratio- means the number of claims settled by the company successfully. Every one of us wants to buy car insurance from the company which has a high claim settlement ratio. The company with a higher claim settlement ratio will settle your claim easily, Therefore it is important to check the claim settlement ratio before buying insurance. Also, is the search for an affordable deal, don’t compromise the name of the company.
- Premium is a concern- car insurance is a deal between the insurer and the customer where the customer has to pay time to time premium and renew the insurance. The only way to do this is by regular payment of premium and choosing the same plan. But sometimes premium seems to be a burden in case of loss of a job or medical crisis and financial restrictions arises. Then the only option left is to switch car insurance providers with lesser premiums.
- Opt smart additional covers- when looking for new insurance providers, you should always analyze the add-ons that are provided by the company and compare them with your needs. Go for an insurance provider that offers adequate add-on covers such as NCB protector, zero depreciation, engine protector, windshield glass cover, etc. This is an essential choice, which helps you save on premiums as well. Also, spending a little more you can opt for Zero-dep insurance which will provide extra benefits and security to you.
- Keep the insurer in a loop- you must keep your insurance provider in a loop about your decisions every time. This will make the insure negotiate and offer additional discounts to you. And this is not a bad deal.
Tips on canceling a policy
- Doing each and everything in writing is essential while canceling a policy. Even, if your insurer doesn’t urge you to do so, still go for writing. This will not create any confusion in the future. It will also help in maintaining a proper record.
- Before canceling your previous policy, make sure the new one is active. It would be a nightmare come alive if you realize that you’ve canceled the old policy, but the new one is not active. Or, the premium you were quoted is different from what you’re charged afterward. Such a situation would leave you perplexed about whether to look for another policy or stick it out with the old one with a higher premium rate.
- Sometimes, the old policy is canceled retroactively, when you start a new policy and forget to cancel the old one. You will have to ask your insurer whether the policy is on retroactive cancellation mode or not. If yes, then you’ll have to provide a copy of proof showing the policy initiation date of the new insurance policy.