Talking about car and motor insurance:the car insurance policy takes

Talking about car and motor insurance:the car insurance policy takes care of several unforeseen events which may arise as a result of accidents and offers monetary relief for the same. This takes the load of arranging finances off your shoulders to a large extent and can help diffuse stress in difficult times. So Car insurance is a significant investment made towards safeguarding your prized possession in case of damage due to accidents and other such mishaps.
In order to select a correct car insurance plan, it is important to have a clear picture about your needs and budget. This will also be extremely helpful when accessing quotes from several insurance providers. You can choose to get quotes from insurance agents, by visiting the insurance office or by going online. The first two methods are the conventional ways of buying a motor insurance while going online is the most viable option for those who are pressed for time. Comparing insurance quotes online is also a lot easier and you can reach a conclusion within a few hours.
The premium is calculated depending on several parameters and you can read more on cars insurance by visiting several insurance forums. Typically, the premium you pay can be split into three sections.
The premium amount payable for coverage of third party (TP) Risk is decided by the Insurance Regulatory and Development Agency (IRDA) and is standard across all insurance companies.
personal accident cover can be included in the policy by adding a nominal amount to the insurance premium. This cover offers compensation to the driver-owner in case of permanent disability or death during an accident.
own damage premium can be structured according to your preference. This premium is calculated by multiplying OD rate (which is different for different insurance provider) with the Insured Declare Value (IDV) of your car. It is important to note that the IDV reduces with each passing year and there is a standard chart which is used for reference.
Keeping these features in mind, it would be beneficial to visit here new cars in at ICICI Lombard website. The motor insurance offered has the ccoverage for personal accident included as a part of the car policy structure without the payment of any additional premium.
It is also important to note the payment methods offered by different insurance providers for read more car insurance. When transacting policies online, several insurers offer the option of quick online payments by way of Debit or Credit card as well as Net Banking. When you visit here new cars in at ICICI Lombard for policy purchase, you may have the additional option of payment via easy EMIs which reduces the worry of missing premium payment days.