The common Car Insurance mistakes you should avoid!

Car insurance is like a protective layer that assures complete safety whatever the situation is. You are having a car, but not car insurance policy this may hurt your pocket badly.

avoid car insurance mistakes

 

  • Therefore, it is important to buy a car insurance policy to ensure reimbursement in case of an accident happens. Car insurance is beneficial in many ways as it helps in minimizing premium at the time renewal. Also, it helps in getting an instant claim from the insurance company whenever required. As a car owner, securing it with a car insurance policy in the Philippines is important as well as mandatory. It provides financial security against accidents, theft and other damages from calamities.
  • Still, there are people who don’t know the worth of car insurance and make common mistakes every time. Following are some of the mistakes you always should avoid –
  • They don’t prefer online buying – Different people have different opinions about buying car insurance from mediums, i.e. offline or online. But buying car insurance online is a better option as it is quite convenient and beneficial. Online buying helps you explore more features and lets you take the time to learn more about car insurance. Therefore, buy car insurance online is good for you and for your family. Finding better car insurance coverage is one of the keys for detailed insurance services. Remember that uncertainty can hit you up any time that may be a natural disaster or man-made. On the SGI Philippines website you can compare the price of car insurance based on several parameters. You should further understand how motor insurance policy works. You can register and create a free quote online. But, most of the people don’t understand the worth of an online facility to buy car insurance. You can find various features, i.e. roadside assistance, towing service, and other related vehicle support.
  • Cheap service is the best service – We understand money is the main concern of many people while buying car insurance. And, this is how they chose the cheapest coverage for their car safety. Somehow cheap car insurance cover does not help in the overall security. You should opt for the comprehensive coverage as well as some add-ons that suits your car safety requirement. This may be a bit expensive, but it will give the ultimate protection. Therefore, get rid of this myth ‘cheaper is better’. When it comes to buying car insurance policies, people end up searching for the lowest car insurance premium. And, here they make a mistake while choosing car insurance based on the money factor. What matters the most is reliability and types of coverage they are offering. The car insurance policy should cover all major risk
  • Not being transparent to the Insurer – While buying car insurance you have to be transparent to the insurance company. If you are not involved in an accident in the past can help you get lower premiums for your vehicle insurance. And, if you hide this from the insurer you are definitely missing the opportunity. We provide our policyholders with the best comprehensive car insurance policies in the Philippines. You can’t get every benefit if you withhold information that are pertinent in determining the car insurance policy.
  • The missed payment – First and foremost, a missed car insurance payments lead to cancellation of the insurance policy. While dropping your car insurance policy may result in a considerable increase in premium rates with the next insurance company you opt. This can make you a high-risk client for the insurance company that means you have to deal with high rates and arrangements.
  • Conclusively, if you want a peaceful drive you have to avoid these mistakes while buying car insurance. Go to the insurance company that provides flexible and easy to avail payment terms. As a policyholder be updated, honest, and knowledgeable. Ask more questions to the insurer to clarify the confusions if any. Therefore, buy car insurance without any hassle and with complete peace by avoiding mistakes.

This is Why Buying Personal Accident Insurance is Beneficial

This is Why Buying Personal Accident Insurance is Beneficial

Nobody wants to get involved in accidents or any other unknown mishaps. It is unfortunate if you face such a situation and the worst thing is, you don’t have insurance cover for bodily injury or accidental death. The majority of people don’t understand the importance of buying personal accident insurance. One of the reasons is people are unaware of such insurance cover. They only know about two wheeler or car insurance due to the mandatory factor. Most of the people don’t give serious thought about personal accident insurance as they think life insurance is same as personal accident insurance for body safety. Life insurance demands heavy premium whereas personal accident insurance is less expensive and depend on the types of coverage. Different types of insurance covers have different key benefits and features accordingly.

personal accident insurance buying benefits

What is personal accident insurance?

Personal accident insurance is a type of insurance cover that financially assists a person in case of bodily injury. It’s like an agreement between an insurance company and an insured. In case of any mishappenings, the insurer will provide financial compensation for death or bodily injury, whether partial or permanent. In case there is an injury due to an accident that requires immediate treatment, the policy ensures coverage for the costs of this case.  Accidental Death, Permanent Total Disability, Permanent Partial Disability, Temporary Total Disability, Transportation of Mortal Remains, Children‘s Education Benefit are the coverage types you can avail for your personal safety and security. Personal accident insurance as the name suggests it saves you from injury caused due to fall or collision, road or plane accident, gas cylinder burst and others.

Following are the key benefits of personal accident insurance for you –

Provide Financial Assistance: There are several key benefits of buying personal accident insurance you can have. Insurance covers are there to provide financial assistance in case of an accident or other incidents. Life is unpredictable you can’t even say what can happen in the very next second. Imagine you are walking on street and suddenly a car hits you. And, you are not financially so strong. There may be two situations in case if you are having personal accident insurance cover or don’t have. In the first situation, you will be worry-less because of the insurance company going to reimburse the cost of treatment. But, in second case you will feel unlucky because you are going to pay from your pocket which is not even sufficient.

Covers for accidental death: Don’t get confused with term death it can be natural as well as accidental and personal accident insurance cover the accidental death. In this situation, the insured nominee gets 100% of the sum insured as per the plan offered. Keep a note that compensation is only available if accidental death occurs during the policy tenure. That’s the reason personal accident insurance is a good option for you to bring up a prosperous life for insured and family members.

Covers permanent total disability: In case of permanent total disability, the insurer provides 100% sum insured to the injured insured. If insured person meets with an accident that causes a permanent total disability within 12 months from the date of the accident he or she will be reimbursed as per the company norms. Permanent total disability includes injury of an arm at the shoulder joint, an arm above the elbow joint, a hand at the wrist, a thumb, index finger, leg above mid-thigh, leg up to beneath the knee and other injuries. There are several plans available that can facilitate you with appropriate compensation.

Covers Temporary Total Disability: When a loss occurs due to an injury during the policy period in which he or she is unable to perform their normal work and duties for some time. In such a case, the insurance company provides weekly benefits as per the norms of policy.

Conclusively, personal accident insurance act as your personal safety shield to help in case of accidental death and bodily injury. Therefore, buying personal accident insurance is a wise decision ever you should have.