The entire working crowd has a boss and this boss can really be good or bad depending on your knowledge and conduct at work. Who knows what your boss expects out of you or probably wishes that you should be aware of certain things! Unfortunately, technology has not gone that ahead to know what goes on in someone’s mind!This may literally wreck our nerves off.
We have made a list of 15 things your boss wishes that you knew about motor insurance, especially if you belong to the insurance sector.
Insurers set certain factors to arrive at a final premium quote for your car. Modifying your car out of your own will and wish may literally spank your pockets while paying the insurance premium. It is important to know that wheel modifications, breaks and suspensions, car stickers, paint jobs as well as other car interiors may hike the motor insurance premium.
Vintage cars carry immense pride and prestige. These are rare to find and therefore need to be secured with a motor insurance. There are different types of vintage cars such as classic cars, antique cars and vintage cars depending upon their age. The insurance providers use different guidelines for issuing insurance to protect these cars.
Yes, there are two types of motor insurance deductibles. The first being a compulsory deductible or a mandatory excess. This is the amount that you will have to mandatorily shell out in case of a claim. The other deductible being the voluntary deductible or voluntary excess to be paid from your pocket in addition to the compulsory deductible in case of a claim.
Installing safety devices such as airbags, accident prevention sensors or anti-theft devices would help lower your motor insurance premium. This is because, these devices help to prevent theft and protect your car.
Renewing your motor insurance from time to time will help you keep your car insurance remain active as well as the NCB. Therefore, you cannot earn a NCB in case your motor insurance is inactive. If you do not renew your inactive motor insurance within 90 days (grace period given by the insurer) of the expiry, you would lose all the NCB earned so far.
NCB is a discount that your insurer awards you in case you have claim-free years. This discount ranges from 20% to a whopping 50%. However, if you file claim for petty repairs, mind you, you ought to lose out this!
CIBIL score reflects your credit history and your discipline for paying off your bills. Motor insurers have now started checking the CIBIL score to understand your risk profile. A high CIBIL score helps the motor insurance company to know how disciplined, responsible and reliable you are with your finances.
Comparing different insurers online will help you fetch the best motor insurance plan. This is because, you can research and compare the features, benefits, inclusions as well as exclusions and the premiums and then go ahead with the best one!
It is important that you check online reviews and feedback of the insurer to ensure that your claim would get settled hassle-free when the time comes. Relying on trusted insurance providers will help you get peace of mind too.
IDV is nothing but the current value of your vehicle. It depreciates by 10% each year. This amount is then shelled out by the motor insurer in case of complete damage or theft of your vehicle.
Do not run away in case an accident takes place. You may not be at fault, yet, it is important to be patient and check in case first aid is available.
Never ever avoid any formalities that would be required to undergo post an accident. Do follow the requisite timelines issued by the motor insurer. Check and collect any important documents regarding claim.
Add-ons are additional benefits offered at extra premium by the insurer to enhance your motor insurance policy. These add-ons however should be bought as per your requirement.
In case you register to be a member of the Automobile Association of India, you can avail a 5% discount on your motor insurance.
Well, motor insurance can really be nasty if you play a foul in following the traffic rules. Do not honk unnecessary to your hearts content. Do not drink and drive. Always possess a valid driver’s licence and a motor insurance policy. File a FIR first in case of an accident. And many more rules to be followed!
While a boss has every possible right to expect you to think beyond your role, accept criticism and earn your promotion; the least you can do is exceed his expectation!
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