Do’s and don’ts while buying auto rickshaw insurance online
In India, you cannot drive a vehicle without insurance as it is considered as breaking the law. The government did not create this law for the benefit, as you are all well aware. This law is to protect the vehicle and the drivers of the vehicle. It is important to follow certain do’s and don’ts when you are on the road driving. Similarly, there are certain do’s and don’ts that you should be following in your insurance too. As you are already aware, you can now purchase vehicle insurance online. If you own a commercial vehicle like an auto-rickshaw, there are many online commercial vehicle insurances available for you. The more, the better would be a tagline if you look at one side of these many choices available. But the truth of the matter is that when buying insurance online, having many options means that there are many things that you need to be careful about.
You can be scammed online easily. So, if you are planning to buy auto rickshaw insurance online, here are some do’s and don’ts that need to be taken care of before the insurance purchase. Let’s dive right into it.
Do’s of buying auto rickshaw insurance online
- Do look at the coverage of insurance: It is important to be aware of the coverage that the insurance will provide to your commercial vehicle. If the insurance does not have adequate coverage, then it will not be worth having insurance for your auto rickshaw. There are insurances that will provide damage covers from accidents and other natural calamities, but they won’t cover third-party insurance. So having insurance that will cover all these damages is an important thing to consider when purchasing commercial vehicle insurance online.
- Do choose the correct IDV: When choosing to buy or renew auto-rickshaw insurance online, choose the one with the correct insured declared value. That is, the compensation amount should be equal to the IDV of the insurance policy.
- Do check for fleet insurance: If you are a commercial vehicle owner, then fleet insurance will be beneficial for you. The fleet insurance can be used for a person with ownership of multiple commercial vehicles. This type of insurance is cost-effective, easy to keep records on, and will have a single day for renewal for all the vehicles. For people with multiple auto-rickshaws, this type of insurance is the best way to go.
- Do your research: We don’t really need an explanation for this. The biggest benefit and threat of online insurance is the number of choices. You can browse through all of the insurance policies available online and select the one that seems perfect. There are also online marketplaces that compare various commercial vehicle insurance policies online. This type of website will make the research easier for your purchase decision.
Don’ts of buying auto rickshaw insurance online
Just like the do’s of insurance buying, there are certain don’ts that you should definitely avoid during the purchase of insurance for your auto rickshaw online. What are they?
- Don’t go for the cheapest option: As we have already discussed, there are many options available online for commercial vehicle insurance. Sometimes you will receive ads on cheap auto rickshaw insurance. While it may seem like a great deal from the outside, it may not be so. Even if the insurance is not a scam, the cheapest insurance of a commercial vehicle will only cover third-party damage for your vehicle. To elaborate on the point, this type of insurance will only cover the damage of the third party in an accident. You will have to pay for the damage that happens to your vehicle, which means that there will be more money spent from your side. Cheap insurance like this is used to cover the requirement of law, but in reality, this type of insurance does not provide any benefit to the owner.
- Don’t wait around for the purchase: One of the biggest problems of human beings is the decision fatigue that they experience with so many options to choose from. A buyer of insurance will have a hard time making a decision on what to purchase. This dilemma causes them to wait a little more. The wait may be for a greater deal or due to the inability to make a decision. This behavior should not be encouraged, especially when it comes to purchasing vehicle insurance. Have a proper plan on what you need from the insurance policy. How much it should cover and the price that you are willing to spend on the auto-rickshaw insurance. The proper add-on covers you need should also be decided. Once you know what you need from the insurance policy, check out the options available online and make a decision. The process of getting commercial vehicle insurance online is easy, so there is no point in being lazy.
- Don’t be careless: Now that you have insurance for your auto rickshaw. You can drive the way you like, right? No, wrong. The insurance for your vehicle is a safety measure, a ” just in case”. That is not an excuse for you to be careless when driving. You need to be extremely cautious when you are on the road and make sure that you are not under the influence of drugs or other harmful substances. India has high traffic due to the high population and vehicles owned by these people. So, it is the responsibility of the citizens to be careful on the road.
When buying auto rickshaw insurance online, there are certain things that you need to be aware of. You should be doing some things and shouldn’t be doing other things. You need to protect the vehicle that you have through insurance, but you also need to protect yourself from other aspects during the purchase also. The things that need awareness are described in this article. By following these guidelines, one can have a stress-free insurance purchase for the auto-rickshaw.