Why Do We Need Car Insurance?

The ultimate target of purchasing a vehicle is to avail its maximum benefits in a long run. Buying a car and ensuring its engine related maintenance is a scant approach for protecting your car. Your car needs a lot more protection in an event of accident or theft than just its engine. According to Motor Vehicle Act, 1988, it is mandatory to buy a Third Party insurance along with the car, which insures the third person’s vehicle damage/ death/ injury caused by you and not to ‘you’. A comprehensive insurance policy is better than standalone third party cover. Comprehensive insurance policy c protects your own car from damage and also provide third party coverage.

So it is crucial to have comprehensive insurance for the car. Paying a modicum over premium will aid you on a rainy day. Once you have decided to buy comprehensive insurance for your motor the next question is where to buy one?

Where to get a car insurance?

There are different means to buy car insurance online.

The ancient way of obtaining car insurance is through agents. Every insurance provider has a set of agents working for them. They have extensive knowledge and a good understanding of the different insurance policies and the procedure to claim them. They will assist you over the best insurance policy best suited for your purpose.

Some insurance providers are in liaison with the car dealers. Usually, the car dealers will provide you with the Third party and comprehensive insurance plans. However, they are of a little help because the dealers have zero or minimum knowledge about the insurance policies provided by the insurance provider.

Brokers employed under the Insurance Regulatory and Development Authority of India (IRDAI) is authorized to sell policies from various insurance providers. Alike agents, brokers also have extensive knowledge about the insurance policies provided by various insurance providers. Here you can compare insurance policies of available insurance providers and chose the one that best suits your purpose. They also assist with the claim settlements.

Avant-grade and less paperwork – an uncomplicated method is to buy car insurance online. This saves time and initial cost. Complete details about the policy and the procedure to claim are provided, ensuring transparency. You can compare the viable car insurance policies online of various insurance providers using insurance aggregator websites like Coverfox.com.

Car Insurance and everything you need to know

It is important to have car insurance in India; one because it is mandatory according to the Motor Vehicle Insurance Act; two because it will protect your vehicle in an event of accident or loss / theft. Besides car insurance also provides personal accident cover to the owner or driver and covers any liability to third parties involved in the accident. There are different car insurance policies available in India covering specific damages. It is important to thoroughly understand the terms and conditions of car insurance and the damages they cover. On the whole car insurance policy covers the damages suffered by your vehicle due to natural disaster and mishaps caused by humans.

It is also important to understand what a comprehensive policy does not cover. The policy does not cover ageing wear and tear, breakdown due to mechanical / electrical problems, damages caused under intoxication and damages caused while driving without a valid driving licence.

All-inclusive insurance policy also protects the driver and the passengers (if the number of permissible passengers in the vehicle is legal as specified by the vehicle manufacturer) in case of an accident. Most policies come up with add-on protection for the peripheral components of the vehicle, mainly the engine. The comprehensive policy does not cover engine damages. Installing an anti-theft device in your car not only protects the vehicle but also helps to cut down on the premium amount. Also a membership with the AAI also brings down your premium amount.

Choosing the right car insurance is very important. The first step is to get complete information about the claim settlement procedure and calculate the claim settlement ratio i.e, to verify the number of claims received by the insurance provider to the number of claims fully settled by them. It is important to understand the terminologies such as Insured declared value (IDV), zero depreciation and no claim bonus.

While buying an insurance policy, we would want to have the best all-inclusive, adds-on policy at a nominal price. To achieve this you can compare and get quotes for your vehicle from various insurance providers. It is important to reach out to a customer friendly insurance provider. In the age of social networking, it is easy to perform a thorough check of the insurance providers by reading reviews and getting feedback from fellow customers.

According to the Vehicle Motor Act, 1988 having car insurance is a legal requirement. Having car insurance will help you to get your car fixed after a mishap, even though the policyholder is responsible for it.


The Secret To Selling To Different Personalities

Let’s face it. We all have those difficult customers to whom we are required to sell. From the demanding, abrasive buyer to the individual who never seems to make a buying decision, we encounter challenging people on a regular basis. Part of the reason this happens is due to the disconnection we have because of conflicting personalities.

This article will look at the four key types of people and how to improve your results with each.

Direct Donna. Donna is very direct in her approach. She tends to be forceful and always wants to dominate or control the sales call. Her behavior is aggressive, she points at you while she talks, interrupts you to challenge you, and she seldom cares about hearing the details of your new product or service. Instead, she demands that you “cut to the chase” and “tell me the bottom line.” Donna is very results-focused and goal-oriented and hates wasting time.

To achieve the best sales results with this individual you need to be more direct and assertive. Tell her at the beginning of the sales call or meeting that you know how busy she is and how valuable her time is. Tell her that you will “get right to the point” and focus your conversation on the results she will achieve by using you product or service. Resist the temptation to back down if she confronts you because you will lose her respect. To Donna, it is not personal, it’s just business.

Lastly, be direct in asking for her business-you don’t have to dance around this issue.

Talkative Tim. Tim is a gregarious and outgoing person but very ego-centric. He is often late for your meetings and his constant interruptions and long stories cause your sales calls to go beyond the scheduled time. He appears to be more concerned with listening to himself talk which is frustrating because you don’t always get enough time to discuss your solution.

Relationships are very important to Talkative Tim so invest more time in social conversation. Even if you don’t see the point in this, he will appreciate the gesture and will like you more. This person often makes buying decisions on intuition and how he feels about the sales person.

Be careful not to challenge Tim because he will feel rejected and when this happens he will “shut down” and become unresponsive. During your sales presentation, tell him how good your solution will make him look to others in the company or how his status or image will improve. In other words, appeal to his ego.

Steady Eddie. Soft-spoken, Eddie is a “nice” fellow who seems more focused on his team and coworkers than on his personal results. He is very quiet compared to some of your other prospects and can be difficult to read. But most frustrating is his reluctance to make a buying decision. Eddie’s mantra seems to be “I’m still thinking about but thanks for following up.”

Structure and security is important to these people and it is difficult for Eddie to make changes. He often contemplates how the decision will affect other people within the organization. That means you need to slow down the sales process, demonstrate how your solution will benefit the team, and remove as much risk from the decision-making process as possible. Soften your voice and make sure your sales presentation flows in a logical manner. Use words like “fair” “logical” and “your team” in your presentation.

Analytical Alice. She reads every point and specification about your product or service and regardless of how much information you give Alice, she always wants more, including written guarantees and back up documentation. She is very difficult to read and it is extremely difficult to get her engaged in an open conversation because personal feelings and emotions do not enter the picture when Alice makes a decision.

Whenever possible, give Alice a written, bullet-point agenda of your meeting-beforehand. Ideally, email it to her a few days in advance so she can prepare herself. Make sure it is completely free of typos, spelling mistakes and punctuation errors. When you meet, follow the agenda in perfect order and if you make any type of claim, have supporting documentation available for her to read.

While the approach to use with each of these people may not make sense to you or seem completely rational, it is critical to recognize that how you naturally and instinctively sell may not be the best way to get results with someone else. Modifying your approach and style, even briefly, will help you better connect with your customers and prospects which means you will generate better sales.

What’s really cool about this is I’m connected to a system that does most of this for you in the sifting & sorting process.