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Know Your Rights - To Buy Your New Car’s Insurance!

Team AckoJan 17, 2024

Buying a new car is an exciting milestone for anyone. As car buyers, we do a lot of research into the make, model and variants of our cars. But we miss out doing research about another equally important aspect of buying our new cars - insurance.

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Car dealers add the cost of insurance based on the policies that they believe is best for the buyer, although that is usually not the case. It is up to the buyer to choose the insurance policy that they believe fits the car that they are buying, their driving style and their budget.

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It’s Your Right To Buy Your Own Insurance

And no matter what the dealer says, it is not mandatory to buy insurance from them. The IRDAI has clearly stated that vehicle buyers can buy their “policy through anyone and there is no compulsion to buy it through your vehicle dealer”. So remember that it is up to you, the buyer and not the dealer to make the decision on which insurance provider and which insurance policy to buy.

Advantages of choosing your own vehicle insurance policy:

As a new car buyer, there are a number of advantages that you have when you buy your own car insurance, such as:

1. You get the best savings:

In today’s competitive market, various car insurance policies with similar features and services are available for different car insurance quotes. When car buyers make informed decisions and compare car insurance quotes online, you can achieve significant savings compared to the policy that the dealer is offering you.

When you buy your car insurance from ACKO, you can save up to Rs. 45,000/-. This is because you are buying the policy directly from us, the insurer. And that means zero commissions! We pass on those savings to you as low premiums.

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You get the best policy for your needs:

When buyers don’t rely on their dealer for insurance, they can choose the best policy for their needs by comparing various policies available in the market as well as the premium and add-ons. Remember to always compare only similar types of policies.

What’s more, when you’re the one buying your new car’s insurance policy you can choose the right add-on covers, like roadside assistance cover, zero depreciation cover, engine protection cover etc, which in turn can help you save a lot of money if there is a claim.

2. Minimal Paperwork:

Today, there are tech first insurance companies that allow you to buy your new car insurance without any paperwork. It’s as easy as ordering food or booking a cab through an app! When you buy your new car insurance with ACKO, for example, it’s all on the app (Get it on Google Play and App Store ). Once you download the app, you just have to answer a few basic questions about you and your car. Based on these questions, you can select the coverage you wish to buy for your car. Even if you want to renew your policy, you can do the same without any paperwork.

Clearly, there are plenty of benefits when it comes to choosing your own insurance policy. So, if you’re planning to buy a new car, don’t let the dealer make the decision for you.

When you buy your new car insurance with ACKO, you are choosing an insurance provider trusted by more than 8 crore Indians and has settled more than 2 lakh claims.

So make sure you do your research and choose the best policy that’s suited for your needs - and can get you the best savings!