We spend a lot of time searching for newer models, custom colors, and more safety features, which we like! But most of us know little about car insurance and the features included in it.
Here we have prepared a detailed guide on car insurance for you, all the things that you have always wanted to know about it.
Motor insurance hypothesis
Car insurance works on ‘Use it or forget it’ policy. You will have to pay an annual kit to get the benefit. If you are more fortunate and avoid any serious accident claims, then you lose the installment amount paid for security. On the other hand, you find a non-pressed vonce, which is a pretty real amount – starts in 20% of the installment in the first year and becomes 50% for the sixth year – so sometimes do not hit for minor damage It is advisable to do.
The value of your insurance policy depends on IDV – the declared sum insured of your vehicle, which is the maximum amount insured by the insurance company; It almost equals the market price of your vehicle. Therefore, when you buy insurance for a new vehicle, IDV is calculated which is based on the list price of the show-room. However, IDV of your car is not stable. When you renew your car policy after one year, your IDV is reduced because the devaluation rate is applicable to the car when it is one to two years old.
You must remember, however, it is not advisable to tell the value less than the actual market value, because even if you make fewer installment payments, you can also pay less for damages. And, you have to reinstate the policy at any given time, otherwise there is a greater risk of paying. This period is usually 90 days.
What does motor insurance cover?
Your insurers do all the work to protect you from negative consequences, but there are some exceptions. Motor insurance policy generally does not cover these things:
When you are driving another person’s car, when a car is not insured, your car is running when your car is damaged due to alcohol or drug being affected by a car owner. In the event of loss or damage to the car due to the loss of authority or driving due to warranty or license of a valid license across a driver, the rebellion or nuclear risk, you Area is car mechanical or electrical breakdown, radio player, normal attrition and additional general discoloration of the car due to limited work.
Getting car insurance
With lime insured, you can buy your car insurance and get your claim online. In addition to this, you can take advantage of their free garage facility for repairing your car, which basically means that you do not have to spend a single penny to repair the car till you get the service under the supervision of a garage. . In the event of servicing of your car at the time of their network, you can claim the return amount for it.
BEFORE YOU BEGIN
First of all, it is important to know what you are signing for, and if you have any questions, then you are free to ask him. And, the most important is to drive that safe.
You must have seen the big ads of the coming cell at the end of the year. Through the cell, shopkeepers want to remove things that are not expected to be sold in the coming months – such as winter and winter refrigerators and woolen garments are not sold in the summer.
You have to do the same with an investment portfolio: Investigate the entire portfolio investment at least once in a year and separate the straw from the wheat. Straw here means those shares or investments that do not give you a better return. With this type of investment, your money is not used properly and if you feel that there is no possibility of better in the future, then put it out of the portfolio. To clear the portfolio, it is necessary to remove such investments.
The problem is that this work is not as easy as it sounds to say. Not everyone can be knowledgeable of investment matters However, this should not be an investment because of this or because it does not improve your portfolio.
There is no reason why you can not take care of your portfolio yourself, but if you feel that you lack adequate time or understanding, then the services of a professional portfolio manager can be taken to handle the portfolio.
Fund managers help you in many ways:
Based on your investment ability and current market conditions, it can tell you what can be done with your money. Along with that, it can help in deciding the right goals to be achieved from the fund.
By planning your strategies according to your portfolio, you can plan and implement it to achieve the desired goal.
Can help you identify poor investment; (The stock market fluctuates only, but despite the loss, you can fulfill your goal. Fund manager assists in this work and can already identify the investment that can be harmed)
At the same time, he can also help in formulating a strategy which can reduce the damage.
It helps in diversifying the portfolio (It may be that while the market is doing very well, your fund is going down, while other funds like it are doing better: Diversify the portfolio by making the fund bad Decreases the risk of performing)
It is a good idea to invest a little bit about the investment yourself and start investing only after that. Before starting, set a budget for investment, such as how much money you have to invest and how much money you have to travel.
Remove unwritten after:
Keep in touch with your fund manager continuously
Try to talk to your fund manager at least once a month. If you have a shortage of time, then talk about it at least once in three months. This will keep you informed that your investment is giving returns according to the target and there is no need to make any changes in it.
Keep an eye on the current market conditions:
When talking to the fund manager, take into account how the market is behaving and what are the prospects for the future. Try to find out what types of risks can be in the current market situation and what can be done to avoid them (keep in mind that the management of wealth enables you to take risks)
Keep an eye on market movements
Keep an eye on the market move, keep an eye on the events happening in the country and the world, which can affect your stock prices. If the market falls, then the value of your fund can go down too much.
Keep in mind that the source of the information is correct:
Keep in mind that the source of your information is correct. Check that the investment you have chosen is meeting your needs, such as in case of dividend or capital growth, keep an eye on its position.