Clean Cars

Simple Guide to Used Car Insurance and Finance

Car insurance and finance are the two key elements of the Indian car industry. In the present day, many buyers find the used car market very lucrative and so the insurance and finance of second hand cars.

Insurance is mandatory for all cars running on Indian roads and almost 90% of the car buyers take finance to ease financial burden to a certain extent. So, when it comes to buying a car, the first thing that comes to picture is finance and then is the insurance.

Car insurance is attributed to factors like model, make, cubic capacity, type of engine, estimated cost of premium accessories, and power of the engine. When it comes to buying a used car, almost 75% of the value is insured by the insurance companies. This drastically reduces the insurance premium.

Today in the market, all the certified used car dealers like Toyota U Trust, Hyundai Advantage, Honda Auto Terrace, and Mahindra First Choice have tie-ups with the insurance companies and agents to provide a hassle free insurance service to all the buyers. Even the agents and other companies dealing into used cars have tie-ups with insurance companies. Read the rest of this entry »

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What Kind of Car Insurance Should You Have?

Once a year we find ourselves in the situation of taking a decision regarding the type of the insurance to cover our vehicle for another year. And it is not easy. There are hundreds of companies out there and thousands of offers. A good decision can save us a lot of money, while a bad one… well, you know what I mean.

So what should we do?

The first step is to realize what we need. Let’s say I’m a bad driver and I have an expensive car. In that case, I may be interested in a car insurance to cover my own car, the passengers inside, that may be injured in case of an accident and, of course, the other car or any other type of property involved. Or, I am an experienced driver and I would like my insurance to cover only any third party involved, because the probability of an accident is minimum anyway (please, do not consider yourself experienced in the first 2-3 years after you took the driving license – this is the biggest mistakes you can make – check the statistics).

The next step is to consider the options. There are 3 types of insurance that are mostly used: third party, fire & theft and, the most complex one, comprehensive.

Let’s have a look at each of them.

1. Third party car insurance – it is usually the cheapest one. It covers any third party (other car, other property, passengers in your car or some other car involved in the accident, but not you and your vehicle). Read the rest of this entry »

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The Importance of Car Insurance

As much as you value your life by availing of a life insurance for yourself, your car needs it, too.

In fact, you have to have a life insurance and an auto insurance. Call it a double security measure for both you and your car. After all, there is nothing more dangerous than riding your car on the road full of vehicles and motorists prone to having fits of road rage. And there are times that vehicular accidents just happen for no apparent reason at all. And what if you are at the wrong place at the wrong time? Do you think that’s the best time to call your insurance company when you’re already in the middle of a road accident? These are things that you just cannot ignore, and what better way to prepare for the worst case scenario than to have yourself and your vehicle insured.

Basically, an automobile insurance is a necessity that you just cannot do without. If your car had figured in a road accident and getting smashed in the process, or if it’s stolen, then a car insurance really comes in handy in situations like this. Read the rest of this entry »

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