• March 12, 2024
  • Updated 11:19 am

These 4 Points Will Help You Select The Best Third Party Car Insurance Provider

These 4 Points Will Help You Select The Best Third Party Car Insurance Provider

Owning a private vehicle is a matter of joy and pride for many. It helps one to have stronger mobility and lessens the reliance on public transport. If you are planning to purchase a car or any motor vehicle, then you should be aware that it is legally necessary to have third-party vehicle insurance. The Motor Vehicles Act of 1988 mandates this. Since the coverage is standard across insurers, the question arises of which insurer you should go with.  To help you arrive at the answer, we give you 4 criteria that will help you choose the best third-party insurance provider. 

1. An easy claim process 

When your car gets involved in an accident that leads to third-party liabilities, you would not want a long, time-consuming claim raising process. Additionally, when you have raised a claim, you would want the claim to be processed quickly. Therefore, before buying third party car insurance, do take a look at the claim raising and settlement process of the insurer. Nowadays, one can raise claims online and get them settled digitally as well. App-based claim settlement is also becoming quite popular these days. So, do check for such features. 

2. A high claim settlement ratio 

The claim settlement ratio is displayed through a percentage. It is calculated by taking into consideration the difference between the number of claims received by the insurance company and the number of claims solved by them. The IRDAI publishes the claim settlement ratio of each motor insurance company every year. If the insurance company you choose has a high claim settlement ratio, then it is a good sign. It indicates that the insurance company is dedicated to solving the claims of its policyholders. 

3. An efficient customer service department 

During the tenure of your third-party car insurance policy, you may have some doubts and queries regarding your policy. A good insurance company should have a committed customer service department that helps you solve these queries. To check the same, you can visit their site or call them at their toll-free number. Insurance websites these days have AI-powered chatbots and if that does not work for you, a live agent can be accessed as well. 

4. Streamlined online services

Online insurance services are a boon. They effectively reduce the time that you need to spend on buying and renewing your third-party car insurance policy. Therefore, it is essential that the insurance company you are choosing offers you the facility to buy and renew your insurance policy online. Not just that, but the process involved in accessing online services should be easy and simple as well. 

How to buy third party vehicle insurance online?

The general procedure to buy insurance policy online is as follows:

1. Visit the website of the insurance company and click on ‘car insurance’. You may be asked to provide your name and mobile number and then given choices regarding the type of coverage. Choose ‘third party car insurance’. 

2. Provide all the required information asked of you. Before going to the next step, always cross-check if you have entered the details correctly. 

3. Go ahead with the payment. Leading insurance companies have secure payment gateways that ensure your private information remains safe. 

After you have completed the payment process, you will receive a soft copy of the vehicle insurance policy in your email. Download it and keep it in an accessible place to remain lawfully compliant. 

Good luck and drive safely. 

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