What to do and what to avoid when taking a motor insurance?

Insurance

oi-Sunil

By Sunil Fernandes

Published: Thursday, November 7, 2013, 9:06 [IST]

Travelling by road is a reality and filled with danger. An accident can destroy life and families. Insurance helps with timely financial aid in case of such a tragedy. Some forms of motor insurance is mandatory under the law so you should keep informed about motor insurance.

Here are some Dos and Don'ts for buying Motor insurance

Dos

* When you buy a motor insurance policy you should:

* Know that you can buy this policy through anyone and there is no compulsion to buy it through your vehicle dealer

* Fill the proposal form yourself even if the vehicle dealer is arranging for the insurance

* Fill the proposal form carefully and factually and thoroughly

* Keep a copy of the completed proposal for your records

* Read the policy brochure/ prospectus carefully to know what is covered and what is not

* Ask for information about add-on covers that may be available and choose what suits you

* Give documents such as RC Book, Permit and Driving Licence to the insurance company for verification

* Ensure that you keep these documents updated from the authorities concerned

Don'ts

* Don't let anyone else fill your proposal form

* Don't leave any column blank

* Don't forget to renew your policy without any break

* Don't forget to ask for the correct procedure when you buy a used car that already has insurance.

* Don't make false declarations about the actual use of the vehicle you are insuring

Courtesy: Insurance Development Authority of India