Can I Have Two Car Insurance Policies from Two Different Companies?

Car protection is fundamental as it shields a vehicle proprietor from monetary misfortunes if there should be an occurrence of a mishap, robbery or a cataclysmic event. It is additionally a compulsory prerequisite to employ on the streets of India lawfully. Normally, a driver buys one insurance contract to cover various harms that his/her vehicle might cause. In any case, in specific situations, you might contemplate whether you can purchase vehicle protection from two unique organizations. Here is the response!

 

Is It Illegal to Have Two Insurance Policies?

Having two insurance contracts for your four-wheeler isn’t unlawful in India. Nonetheless, it is likewise not fitting to purchase vehicle protection from two distinct companies.

A single insurance agency doesn’t offer two unique approaches for a similar vehicle. While a safety net providers might dismiss double arrangement applications because of “crooked advancement”, others might find it unlawful to sell another approach for the equivalent car.

Besides, some may likewise offer two arrangements as a deceitful means to procure more premium.

Therefore, you might need to buy a second approach from another engine insurance agency and pay the charge for the two arrangements independently. You can likewise inadvertently buy two unique insurance contracts through covering vehicle protection contracts or contracts that recharge automatically.

 

For the unversed, cross-over vehicle insurance contracts as a rule happen when a vehicle proprietor switches between two contracts. Closer restoration dates may likewise be the reason for strategies covering by a couple of days or more.

However, paying for two separate insurance contracts for your vehicle will be two times as costly. Also, in the event that you intend to get remuneration from two insurance agency for a similar case, it will be considered unlawful.

Should I Buy Car Insurance from Two Different Companies?

While it is legitimate to purchase vehicle insurance from two distinct organizations for a similar vehicle, it isn’t suggested. On the off chance that you buy two insurance contracts, you might abuse the conditions of one or both protection companies.

 

Moreover, if both of the insurance agency comes to be aware of the second insurance contract, they might request that the other guarantor pay for your cases in future. This can bring about huge postponements or neglected claims. You can likewise not guarantee the whole sum from both the insurance agency as it will be a fake. You can guarantee and get pay from just a single protection company.

In the end, buying two insurance contracts won’t just prompt more expenses yet can likewise create pointless setbacks for claims. So why purchase two distinct organizations assuming one case is everything you can make?

Is Double Insurance Ever a Good Idea?

As expressed above, twofold vehicle insurance contracts don’t build the worth of your protection cover. It just outcomes in an expansion in how much premium to be paid. In this manner, having twofold vehicle inclusion is certainly not a financially feasible option.

Few drawbacks of having twofold four-wheeler insurance contracts include:

  1. Having two insurance contracts might bring about a defer in the installment of claims.
  2. Whether a vehicle is safeguarded for at least one arrangements, the pay can be guaranteed from one approach in particular. An expansion in the quantity of arrangements won’t expand the worth of your protection cover.
  3. Purchasing more than one protection will likewise result in pointlessly paying a lot of premium.

 

Thus, getting twofold inclusion from numerous vehicle protection companies is convoluted and most certainly not a decent idea.

How Can I Avoid Purchasing Two Insurance Policies for My Car?

There might be sure examples when you might wind up incidentally buying two insurance contracts for a similar vehicle. Nonetheless, there are far to try not to purchase four-wheeler protection from two distinct organizations. These are:

 
  1. Avoid cross-over vehicle insurance by completely analyzing everything about your current four-wheeler protection contract archives particularly during the hour of renewal.
  2. Make sure that you are not bending over your inclusion without checking for the breakdown cover. You can likewise buy a breakdown add-on cover as opposed to purchasing two distinct policies.
  3. Check your recharging date cautiously to try not to cover vehicle protection policies.
  4. In case you need individual mishap cover for individuals other than drivers, purchase an extra traveler add-on cover as opposed to buying two policies.
 

Can I Have Two Insurance Policies on Different Cars?

Having two engine insurance contracts on various vehicles is lawful. You can do so in the event that your current protection supplier doesn’t give inclusion to one of your vehicles, for example, an extravagance car.

However, having two vehicle protection inclusion on various vehicles can set you back more cash. It might likewise be unwieldy to deal with the restoration of various protection policies.

To defeat what is going on, you can buy a multi-vehicle strategy or engine floater strategy, which covers various vehicles under one engine insurance contract. It assists you with saving time as well as decreases bother and paperwork.

 

Conclusion

Even however purchasing vehicle insurance from two distinct organizations isn’t unlawful, it can bring about disarray and unreasonable installment. Also, it is unlawful to document claims from two insurance agency if there should arise an occurrence of a startling occasion, like a mishap. Consequently, it is prescribed to try not to purchase twofold inclusion for your vehicle and save yourself from pointless hassle.