Your Complete Guide For Taking Up Car Insurance For The First Time

Our first car is like our prized possession. From decorating it to cleaning it every day, we do all sorts of things to keep it like it was just purchased. However, doing just that might not be enough all the time. 

Unfortunate events keep on happening, and there is no guarantee that the same might not befall your precious ride. In such cases, it is essential that you take in a few measures that will ensure all-round safety, like car insurance. Getting your car insured is an excellent way for a backup in case any unfortunate event occurs. 

In this article, we will walk you through a detailed guide about car insurance for 20 years old. Let's get started!

Types of car insurance

Before getting on with how we should first know what. 

With that, we will begin with the various types of car insurance that are out there. 

Comprehensive Car Insurance

This type of insurance comes with the car as soon as you buy it. It is an overall premium package and covers everything, including the 'third party' as well. This type of premium insurance is valid for one year. 

However, every time you renew it, you will need to pay a premium, which is quite a significant amount, yet very worth it. It also comes with various additional benefits that you may choose to opt for, such as roadside assistance, tire protection cover, zero depreciation, consumable cover, and so on. 

Keep in mind that these add-ons come at their own prices. But know that they are totally worth their price if you feel the need to buy them.

Third-Party Insurance 

As the name suggests, this insurance covers only the third party. It does not include you or your car. 

However, unlike the comprehensive car insurance, third-party insurance has a renewal rate of about 1/4th of its price. 

Nevertheless, it is advised that you go for comprehensive car insurance when you first purchase a car. 

Choosing the right insurance company

Finally, it all comes down to which insurance company you are going to choose. 

This right here is a big leap as the right company will help you while the wrong one will just add to your misery. 

Here are a few things that you should look out for before deciding on which company to choose.

• Speed of claim settlements

This should be on your priority checklist while looking for insurance companies. The faster they settle the claim, the better they are.

• Processing claims

In a moment of distress, the last thing you would want is your insurance company lagging on the claim process. Make sure the company you choose has a smooth process for claims.

• Other benefits

Lastly, take a look at the kind of benefits the company is willing to provide along with other additional services. A good insurance company will always have the best interest of their clients on their mind. Also, check what kind of price they are offering for it.