Multi car insurance is designed for households with more than one car, and you can usually cover up to a maximum of five cars on one policy. You can think of it as a family car insurance policy, where each additional vehicle on the policy earns a further multi car discount from the insurer. While some insurers will only cover cars registered to the same address, the best multi car insurance policies will also allow you to cover cars driven by your immediate family, even if they live elsewhere.
An excess payment, also known as a deductible, is a fixed contribution that must be paid each time a car is repaired with the charges billed to an automotive insurance policy. Normally this payment is made directly to the accident repair "garage" (the term "garage" refers to an establishment where vehicles are serviced and repaired) when the owner collects the car. If one's car is declared to be a "write off" (or "totaled"), then the insurance company will deduct the excess agreed on the policy from the settlement payment it makes to the owner.
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Auto insurance in India deals with the insurance covers for the loss or damage caused to the automobile or its parts due to natural and man-made calamities. It provides accident cover for individual owners of the vehicle while driving and also for passengers and third party legal liability. There are certain general insurance companies who also offer online insurance service for the vehicle.
The 12-month policy will generally start on the date that the last car insurance is up for renewal, with short-term cover used to protect the other cars in the interim. For example, if you have one car that needs to be insured from February and another in June, the February car will be insured first but the policy will actually renew in June when both cars are covered. After the last car has been insured for a full 12 months, the policy will renew each year until you choose another policy.
Also, concessions are given to customers who have a valid membership of recognized automobile associations, like Western Automobile Association, Automobile Association of Eastern India, Automotive Research Association of India and Automobile Association of Southern India. If you have an excellent claim free driving record, then you should opt for a high ‘voluntary deductible’ amount. It is an amount which you need to pay before the insurer pays claim amount. Also, you should check for loyalty discounts if you are renewing the insurance policy with your present insurance company. Professionals like doctors, chartered accountants and government employees are entitled to avail special discounts. It is noteworthy to state that you will become eligible to get discounts only if your policy is not lapsed.
Liability auto insurance protects you from that worst case scenario by providing a cushion between your assets and the amount you’re on the hook for. For this reason, choosing the right auto liability limits is the most important part of your car insurance quote comparison. NerdWallet typically recommends having at least as much liability coverage as your net worth.