Criteria to Select the Best Car Insurance Policy
- Insurance Service Provider With a large number of car insurance providers in the market, it is imperative to gauge the reliability and offerings of the insurer before finalising an insurance policy. There are multiple factors that help you in determining which insurer to select for your car insurance policy. However, the three cardinal criteria to check are:
- Claim settlement ratio – IRDAI publishes the Claim Settlement numbers of the insurance providers in India. It denotes the percentage of claims settled by the insurer as against the claims raised. A higher claim settlement ratio suggests a more reliable insurer.
- Claim process time – The best car insurance providers have the most seamless and quickest claim settlement processes.
- Customer support – Dedicated customer support, over multiple platforms like call, chat and mail, points towards an insurer that cares about its policyholders.
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The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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