Month: April 2018

Hurry Buy the Most Beneficial Car Insurance Plans Today

Car insurance is one of the most crucial decisions that a car owner has to make. While most people tend to put in a lot of thoughts  when purchasing the car of their dreams, they seldom find the time to put in a similar amount of thought for car insurance.

It’s easy to underestimate a simple policy document and how it can save you thousands of rupees in the upcoming years in car repair cost. But car repair isn’t the only aspect of a motor insurance policy. The Indian Government has made it mandatory for all motor-vehicle owners to have third-party liability insurance, which is why your car insurance is more than just protection against repair costs.

Why Is It Necessary to Get a Car insurance?

Car insurance provides coverage in three different ways – third-party liability, car repair costs, and personal accident. The best car insurance plans have these three sections which make car insurance indispensable.

#1 Third party liability

In an insurance policy, the insurer is the first party, while the insured is the second party. As a result, anybody other than these two parties is considered as the third party. This coverage extends to drivers, fare-paying passengers, non-fare paying passengers, pillion riders, etc. In case of an accident, this coverage helps provide compensation for costs suffered by the third-party.

#2 Car repair

In case of an accident, the car needs to be repaired and the costs resulting from the repair is usually paid by the owner in the absence of insurance. However, if you have motor insurance, you would not need to pay the entire sum and in some cases, you would not need to pay any amount. The entire sum of the repair is borne by the insurance.

#3 Personal accident

Now, thanks to third-party liability and car repair cost coverage, a major portion of your costs are covered. But there still remains the issue of injury to the owner and costs culminating out of treatment for the same which needs to be insured. A personal accident cover does exactly that, providing compensation for the treatment of any injury sustained by the car owner.

Points to Remember before Choosing Your Car insurance Plan

Choosing a car insurance plan can be tricky since most people do not understand how to wade through the murky waters. It can be confusing to decide which option suits you the best among tens of motor insurance policies available today. So, here are a few tips that’ll keep you on the right track.

#1 Choose a comprehensive package

As mentioned in the above section, the best car insurance plans are those which have all three coverages included namely third-party liability, car repair costs, and personal accident. Such plans are generally called comprehensive packages since they provide wholesome coverage for the most important eventualities. Taking a basic coverage might save you money on the premiums, but end up costing much more in the long-run.

#2 Add on covers

Apart from personal accident, there are other kinds of coverage options available. Although not as crucial, these are still significant for a car owner. These are called add-on covers and can be opted for an extra premium. There is a range of options including cashless hospitalization, personal baggage cover, and zero depreciation cover. While you can choose these covers depending on your need, the zero depreciation cover should be one of the must-haves.

Generally, insurance companies adjust the cost of the car by deducting the depreciation on the car (higher the age of the car, higher the depreciation). With a zero depreciation cover, repair costs will not need to be depreciated any longer, saving your hard-earned money.

#3 Exclusion list

One of the key points to note during your research should be the exclusion list. This generally varies across insurance companies and provides an insight into the various situations which are not covered by the policy. For example, some companies do not offer coverage to non-owner drivers, while some do not pay for repair costs culminating from natural disasters.

#4 Compare quotes

As a final point for your research, it’s essential to directly compare car insurance quotes from the various providers. To accomplish this, you can use sites such as Coverfox.com which allows you to compare features, covers, and quotes from car insurance providers at the click of a button. Just fill in your requirements and watch it make your decision easier.

Conclusion

As a result, you should put in as much thought in purchasing appropriate car insurance as you do for purchasing your car. While it might not be as attractive as picking out your new ride, it will save you thousands of rupees the next time you head to the repair shop.

Top 5 Tips for Investing in Silver

Many people wonder whether silver is a good investment, and it really is. Much like any other investment, however, there are no guarantees. But if you’re looking for a way to secure your finances in the future and plan for retirement, investing in silver is a smart move. It’s not an investment that can be made without a little knowledge, because you need to know what you are doing and understand the silver market. Gaining as much knowledge as possible before getting too involved with mean you have a bigger advantage and will be in a better position to benefit from such an investment.

 

5 Silver Investing Tips

Online Research – Before making any kind of investment it is wise to do some research. You don’t need to wade through books or visit the library. There is plenty of information available online. However, a word of warning, because much of it is misinformation. The world wide web is a wonderful thing but there are so many people contributing to the information and the world and his wife seem to think they are experts on everything. It is wise to seek out the experts. Hundreds of them are busy tracking the silver markets every day.

Keep Abreast of the Market – As with many other forms of investment, there are good and bad times to buy and sell. There will be times when selling part or all of your investment will be the best decision. Other times it will be prudent to buy as much silver as your budget allows. The way to pick the best times is to follow the silver markets.

Understand the Different Ways You Can Invest in Silver – Investing in silver doesn’t mean just buying silver bullion or coins. Consider investing in silver mining companies, silver futures or silver ETFs.

Ask a Professional – If you’re not sure how silver investments work than ask a professional for some advice. They will be able to help you understand the buying and selling process.

Calculate How Much You Can Invest – Remember to keep an emergency fund for unforeseen expenses and don’t invest more than you can realistically afford. Take into account cash on hand, any other assets you might have and any IRA funds you make have invested.

 

Indigo Precious Metals helped with providing these tips, and there are plenty more on offer.