Things to consider when getting a long-term comprehensive car insurance plan

Make sure to read the fine print and to see which add-ons will best suit your needs.

Things to consider when getting a long-term comprehensive car insurance plan

Having insurance is one of the best ways you can protect your vehicle. The same can be said for a long-term comprehensive car insurance plan. The plan relieves you of the task of annual policy renewal and since it is good for three years, and you are saved from likely price hikes that may occur. This type of policy gives owners great coverage if they intend to keep their vehicle for more than three years. That being said, here are a few things you should consider when getting a long-term comprehensive car insurance plan.

Ownership

car ownership

When you purchase a long-term comprehensive insurance plan this usually covers a three-year period. With that in mind, and in order to determine if getting a plan is worth it, you first need to consider how long you will own the vehicle you want to be insured. If you think you will own it for more than three years, then a long-term policy is ideal for you as it saves you from the hassle of annual renewal. If, however, you don’t plan on owning the vehicle after three years then a different insurance plan could be better. 

Remember if you buy a long-term plan and plan to sell your vehicle while the policy is still active you will need to transfer it to the new owner of your car. This adds another step to your car selling process which can be a time-consuming one. 

Add-ons

filing paperwork

A long-term comprehensive car insurance plan will have a lot of add-ons to consider. This offers the customer a way that they can customize the plan to their specific needs. An example of this is roadside assistance which can be useful in the event that your car breaks down in the middle of the road. Other popular options are zero depreciation, engine protection, return to invoice cover, and accessories cover. These add-ons will increase your premium but will come with beneficial features that might help you out later on. While some add-ons might be tempting make sure to only purchase the suitable ones that you will need with respect to the duration of your insurance policy. 

The credibility of the insurer

insurance company

When looking for a long-term insurance plan make sure to check with the credibility of the insurer or insurance company. Insurance claims can be a difficult procedure, as such, looking for one that makes it easier on the customer is an ideal choice. This will make sure that your investment in the plan is worth it in the event that your vehicle gets damaged. 

Different insurance policies

filing paperwork

If you want to get a long-term insurance policy on your vehicle, make sure to shop compare and contrast different policies before you commit to one. This is because there are a wide array of plans available to the market with each one offering their own unique set of features that you may want to consider. 

That said, comparing these plans will help you clarify which set of features you will need for your car. Make sure that you only compare insurance policies that are coming from a trustworthy source. 

Extra features

Mazda 6 sedan Philippines

The insurance industry has become a competitive market due to the advent of the internet. Most insurance providers have gone digital, and it makes it easier for the company to reach out to prospective customers and to existing policyholders. 

Make sure to read up on the policy to see what they can offer you. Some companies may even offer you a free service to and from the accident site to a hotel or straight to your own home, so that’s something to consider.