Frequently Asked Questions
Who should buy a Vehicle Service Contract (VSC)?
It would be great to consider Vehicle Service Contract - VSC if you want to own your car with an extended manufacturer’s warranty and mileage limits for a new or used car. The average car loan for a new car is 5 years and 11 years for the cars on the roads.
What is the Validation Period for?
The validation period is the duration in which the premiums of the insurance policy must be paid. It is for this reason that the expenses attached with the insurance policy are paid through this premium. Once the premium is paid, the insurance company will begin generating profit from the insurance policy.
What is a Vehicle Service Contract (VSC)?
Vehicle Service Contract or an extended warranty is referred to as additional protection that you provide to your vehicle that covers beyond the manufacturer’s warranty and mileage limits. Besides, they are like health insurance for your car.
What happens if I sell my car?
For whatever reasons you sell your car, it is important not to cancel the car insurance. It is necessary, however, to insure and register your car before bringing it on the roads and reselling it to potential buyers. Once your car is sold and your hand in the keys to the new buyer, you can call the insurance company to cancel your insurance so you won’t be held liable for the damages the new driver does to your car.
What is the claims procedure?
The claims under the General Insurance Company Act refer to a formal request to the insurance company for a payment based on the conditions of an insurance policy after a car accident. The insurance company reviews and investigates the request and pays out the requested amount to the requesting party.