car insurance

5 Myths About Car Insurance You Are Not Aware

Almost every Indian knows that auto insurance is mandatory while buying a new vehicle. A car insurance policy ensures the protection of the vehicle and its driver in case of damages and accidents. Bajaj Allianz is one of the reliable auto insurance providers in India. With Bajaj Allianz car insurance renewal, you will continue getting benefits from it. However, there are several myths about these auto insurance schemes. Until you keep away from these myths, you cannot find the right insurance policy.

Myth 1- Buying an auto insurance policy is a complicated process

It is the biggest misconception among car owners. You will not find anything tedious while buying your car insurance. Technological developments have made the process faster and easier. Moreover, you can choose the online mode for Bajaj Allianz car insurance renewal. You have to fill in some essential details about your vehicle. Compare other similar insurance policies and make the right decisions. The auto insurance buying process is cheaper and highly efficient. 

Myth 2- There is no relationship between the insurance rate and credit score

Your credit history is one of the important factors in buying insurance. You have to know about the credit-based auto insurance score. A high credit score indicates your capability of managing your finance. Some insurance companies consider credit scores as one of the factors when you have filed your insurance claim. Auto owners with high credit ratings have a chance of paying less for car insurance. 

Myth 3You would pay the low car insurance premium for older cars

You may have found car owners saying that older cars reduce your premium. It is thought that the Insured Declared Value of a vehicle is the major factor making a difference in the auto insurance premium. Thus, there would be a lower premium with the older vehicle. But, it is not true. Some other factors are relevant to IDV, and they are-

  • The distance traveled
  • Your driving history
  • Your claim history
  • The type of insurance coverage you have chosen 

Myth 4- Color affects the auto insurance price

There is no link between color and auto insurance prices. The cost of your insurance policy varies with several other factors, like-

  • Car makes and models
  • Car engine size
  • Age of your automobile
  • The price of your car’s striker 
  • The safety details

Insurers also consider the driving record for providing you with an affordable auto insurance policy.

Myth 5- You are a skilled driver and need no auto insurance

You think that you know the safe driving techniques. That is why you have avoided paying for car insurance policies. You must keep away from this perception. Although you are a safe driver, you can never predict mishaps. Moreover, you do not know the road conditions and the skills of other drivers on the highway. Thus, you must choose car insurance to avoid the cost of damage to your car and third-party vehicles.  

Several auto owners have already bought Bajaj Allianz auto insurance. They will get benefit from Bajaj Allianz car insurance renewal. You can buy this insurance and avoid the myths.