Insurance policies tend to cater to demand and makes matters last for long. The terms of valuation that it follows is a move to help you come out of damages with the best coverage. Due to their terms of operations, it is quite natural for people to enter into points about miscalculations. These myths break the nature of service and go a long way in ruining matters for insurance. Hence, to clear out these false points, here are some myths about car insurance policies.
1. No-Claim Bonus Cannot Be Transferred
No-claim tends to talk about an amount of discount that the insurer plans on giving to the insured for not claiming policy. By all means, this amount can be transferable, and the plan also applies to the new insurer. The amount gets credited to your account, and you can move forward based on the norms of your insurance policy.
2. Applying for Car Insurance is a Hectic Process
There was a time when you had to wait in queues to follow procedures leading to an insurance policy. But in today’s day and age, such matters are non-existent. You can avail an insurance policy in a matter of time, all while sitting within the boundaries of your home. By filling out the required set of details, you can proceed ahead to read their terms and conditions. If everything seems to match your satisfaction, you can go ahead with the policy.
3. Second-Hand Cars Do Not Require Insurance
A car insurance policy aims to satisfy coverages and helps to gain back the value. Be it a first-hand car or a second hand one; they bring about a certain amount of value. Due to that, it is always advisable to avail an insurance policy regardless of the car that you drive. Hence, hit the road with the concern of safety.
4. Insurance Policies Cover all kinds of Damages
Every insurance policy comes with specific rules and regulations depending upon the organisation that is offering the same. These rules also include specific limitations, and you need to keep that in mind. Coverages such as collision or comprehensive may not be a part of every policy. For this purpose, it is quite essential to read the terms and conditions before going ahead to purchase the same.
5. A Separate Policy for the Driver
In case you have a driver, you must know that you don’t require a separate policy. You can always add your driver to the policy by producing his/her driving license. The terms and conditions of most policies tend to include matters for the driver, and by all means, you need to fill out the process of documentation.