Documents Required to Buy Car Insurance

June 27 12:16 2018 Print This Article

Once you decide to buy a car and insurance for it, you have to prepare yourself to finish a lot of paperwork for the car Insurance. Though the world has been digitalized, the Insurance Company heavily depends on the paperwork and physically verify all your documents. You keep many of your documents ready to finish the paperwork easily and hassle-free.

Current declaration form – If you are already insured with a car Insurance from another company and you are planning to switch our insurance plan to another company, you have to provide the current declaration form with all the details to get the quote from the new company. The declaration form will serve as a proof that you have an active policy currently and want to opt for extra coverage package for your Car through the new insurance.

Driver’s license – A valid driving license is a required document for every car insurance company. Through the license, the insurance company will get to know your driving record to charge interest and premium charges on your insurance.

Car Insurance Policy – The insurance carrier will ask you to read, understand and acknowledge the Car Insurance policy as part of the policy enrollment. If you do not read everything carefully, you might lose a lot of money in the end.

Declaration page – You have to declare that you understand every aspect of the insurance and provide your consent toward it.  It is the end of the process. After signing the declaration page, you will start paying for the premiums.

If you want to obtain a discount from the car insurance company, you would need to submit a few more documents such as homeowner insurance policy, proof of the car purchase etc.

Authenticity of a Car Insurance

When you are paying a ton of money towards the premiums of your Car Insurance, It is important to validate that you are paying for the right and authentic insurance.  Most of the frauds are associated with the automotive insurances because you do not tend to buy from the insurance company directly or through the authorized agents. You should take some time out to validate the authenticity of your Insurance with easy steps.

Contact your insurer – To check whether you have received the correct Insurance, it is the easiest way for your confirmation. You can call the customer care directly through the toll-free number or go to the company directly asking for the confirmation of the policy.

Ask For receipt – Whenever you are enrolling in a Car Insurance, it is important that you ask for a receipt of the confirmation. This receipt will help you in the future.

Check the IDV, NCB – While enrolling for the insurance, you need to do the basic checks such as insured declared value, no claim bonus for the insurance policy. These simple checks will ensure that your policy is genuine and save you from fraud.

Signature on the policy form – Any Car Insurance is a contractual agreement between the insurer and the insurance provider. It is important to have a mutual understanding and the consent on the declaration form.  The declaration form records your consent. All these checks will save you from fraud and save you a lot of money.

Agent vs Online Car Insurance

There are two ways for you to obtain your car Insurance. You can obtain through either the agents or online providers. There are two types of insurance agents. Independent and captive. Independent agents work on their own and provide a variety of insurances from different firms. You get to choose the best insurance at a lower rate. The captive agents work for a dedicated insurance company and offer Car Insurances related to the company only. You must choose from limited options and end up paying a lot as the premium amount. There are many online insurance providers nowadays. In the competitive market, they come with many offers as well. You can browse the quotes on their websites or contact them directly to know about the insurance they offer. Through online car Insurance, you get to compare amongst all the available quotes online and comparison can get you the best policy for your car. Unless you carefully verify the policies, there are many times when you end up with fake policies. Whether you choose insurance agents or online car insurance providers for your car Insurance, It is essential that you choose the right plan and insurance policy for your car and protect your car from all kinds of accidents and damages.

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Danny White
Danny White

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