When you are shopping for a car insurance, it's far crucial to understand that the premium format and the factors affect your premium. However every now and then, it will become tough to differentiate between the reality and fiction, as like other segments, automobile coverage sector additionally has its share of myths. The lack of proper expertise about car insurance may have an effect on your desire of policy or hinder the financial interest. Moreover, myths around insurance, whether it's an automobile, home, health, etc. they all play a giant role in placing you in a baffling state of thoughts. Because of its chronic and unrealistic nature, it causes damage and no good. In this article, we’ve busted 10 myths related to automobile insurance, which might also help you find the authentic plan for your car.
Myth 1: I’m using an old car so I don’t need vehicle coverage
Reality: It is obligatory by the law of Indian Motor Vehicle Act, 1961, to protect your automobile via an insurance plan, whether it is vintage or new. You may sense that the low replacement cost of an old car would not justify a complete coverage plan, although take into account that old automobiles have the excessive chance of theft, due to the demand of its components. Furthermore, old motors are easy to steal. 
Myth 2: Car insurance best covers the accidents in which I am not at fault
Reality: Having a car coverage policy , you must be sure that you're protected for all kinds of injuries. With complete car insurance, you may get coverage for your car within the occasion of mechanical faults or damages, theft, flood, terrorism, riots, etc. however, it is a strict no if an accident occurs below the influence of alcohol or pills. Moreover, your use of the car need to follow what is noted in the coverage report. As an example, if you are using your personal automobile for commercial enterprise motive and meet with an accident, then you couldn’t make a claim for the damages.  
Myth 3: I’m not able to transfer my coverage to any other insurer due to the fact if I do, I’ll lose my NCB
Reality: If you aren't aware of the truth that no-claim bonus (NCB) is sort of a reward given to the policyholder for every claim less year. It is a tremendous amount and will be amassed year after year if the claim isn't made. Your NCB follows you wherever you cross. Which means even in case you transfer your automobile coverage from one insurer to any other, you can switch the NCB as well, provided it desires to be filed in ninety days from the expiry date of your old policy.
Myth 4: Third party liability cover is sufficient if my automobile is old
Reality: A third party liability cover simply covers the damages to a third party and doesn’t pay for the damages on your car. It is hereby suggested to soak up a plan keeping in mind the circumstance of your vehicle than its age.  
Myth 5: My NCB will pass automatically to the new owner if I sell out my car  
Reality: NCB is an asset, a reflection which proves your using abilities. No matter which insurance company you are eager to pick out, your NCB follows you and you may avail the 100% advantage of it. So, it's far completely a fiction that NCB might be transferred when you sell your automobile.  
Myth 6: Your insurance covers you for all damages that occur because of you
Reality: Normally, but might not continue, especially when you are convicted of consuming and riding. Your insurer turns down your claim immediately.  
Myth 7: A person can’t change the insurance company as soon as he purchase one
Reality: Insurance plans are often valid for one or max to max two years except for the multi-years plan. And, it isn't always a reality that you may not change your insurer. You could change it at the time of renewal with the total advantage of NCB, you earned from the previous insurer. 
Myth 8: I want to take a separate coverage if I have a driver

It is ideal to feature your driver to your policy and it doesn’t require you to have a separate automobile coverage policy for the identical. The best factor to be ensured is that the driver should have a legitimate license. If not, the insurer wouldn’t receive your claim, in case of an accident.
Conclusion!
This text indicates the need vehicle coverage myths and essential insurance facts for a vehicle proprietor. Given that it's obligatory by the law to have an automobile insurance policy, i.e. as a minimum third party liability cover, vehicle owners always search for the accurate car insurance policy. Hereby, it is crucial to recognize how to distinguish the myths and accept the reality. You can have a clean communication with the insurer about your requirement and he/she will higher guide you about which insurance plan to shop for your car.
At policyX you can compare & buy car insurance plans online from insurance companies like hdfc, bajaj allianz, sbi car insurance and get best insurance plans suit your needs.
 

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