One of the requirements of owning a car in Pakistan is to have the right car insurance in place. Car insurance is a form of protection for you as the vehicle owner as it will cover you for any damage to your vehicle, other vehicles and any passengers, pedestrians or 3rd party vehicle owners. It is essentially a financial plan that provides you with complete peace of mind.
An accident or an incident can occur at any time. This could be your fault or it could be the fault of someone else but regardless of who is to blame, car insurance is there for you. As car insurance is so important to you and those around you, you need to ensure that the cover you have in place is sufficient in every way. There is not just one type of cover that suits all and that is why it is important to obtain car insurance quotes.
What Are You Looking for?
To begin with, there are a number of different types of car insurance plans available with comprehensive cover and third party insurance.
Comprehensive insurance is the best car insurance in Pakistan because it provides you with complete cover, regardless of who is at fault. It covers all accidental damages, theft, and vandalism when you are involved in an accident. It effectively deals with the financial burden that you would be left with if you did not have cover in place – however, 3rd party car insurance is a legal requirement for every car on the road as a minimum cover. Third party insurance will cover damage caused to a third party but it will not cover any damage to your vehicle and so, it costs significantly less than the comprehensive cover but it can leave you exposed.
Things to Consider
When you decide to compare car insurance in Pakistan, you will instantly find that there are many providers out there fighting for your business. They will all offer the world but that does not mean that they are the right choice for you so what should you consider?
1 – The Cost – After you have carried out a comparison at mawazna.com, you will find that the price will differ between providers. This is because they can all offer different types of cover and services. Some may offer you more financial protection with regards to the amount they offer while others may provide you with breakdown cover as an extra. This means that choosing the most expensive option is not always the best option. So as a fundamental principal, you must compare all car insurance plans offered by insurance companies in Pakistan.
2 – Break it All Down – As mentioned, do not be influenced by the most expensive cover and the cheapest cover because this is not always the right cover for you. Consider what you actually need. Do you need so much financial protection for your medical bills or do you need breakdown cover? This is all about finding the right cover that ticks all of your boxes.
3 – Do You Need Comprehensive or Third Party Cover – This all comes down to the value of your car, what circumstance you will use your car mostly, what would be your average driving mileage, and whether the cost of the comprehensive cover outweighs the value of your car. If you are driving an old car then it could be worth taking out third party cover which will protect others should you be involved in an accident. If however, you are driving a new and expensive car, you will want to protect its value and that is where comprehensive cover comes in.
4 – Your Budget – Do not feel that you have to spend a lot on your cover. Sometimes, the cheaper options will supply you with the right level of cover so make sure you look at what they offer. If it is sufficient then it will certainly be fine for your requirements. It is worth considering the voluntary excess, which is the amount you will be expected to pay on any claim made on your insurance in case if this is offered by any insurance company. If you increase your excess, the price of the insurance will more than likely drop but that is a risk because it will mean that you have to pay more when you make a claim.
It may seem confusing but comparing car insurance and following the tips above will ensure that you make the right decision. This is all about being sensible and ensuring that you pay for the right protection without paying over the odds. Insuring your vehicle in the correct way will give you peace of mind and ensure that your finances are protected and you and your loved ones are covered as well.
Mawazna.com is a growing financial services comparison platform in Pakistan that enables consumers to make more informed decisions when choosing financial products and services including car insurance comparison, selection and buying an insurance policy offered by leading insurance companies of Pakistan. Visit us online to compare banking, insurance (car insurance, travel insurance, and health insurance) and broadband products to make more informed decisions.
“Mawazna Karein Apne Liye, Apno key Liye”