Download App app-link

How do I save on Car Insurance?

How do I save on Car Insurance_ - (A)

Let’s be honest; Paying for car insurance always seems like a burden. Well, you cannot deny that car insurance is not only mandatory in India, but also useful if your vehicle is the victim of an accident or theft. Now that we need to get car insurance, here are some tips and tricks to lower the cost of high premiums.

  1. Compare policies

Don’t we insist enough on this point? Yes, the comparison saves a lot of money as you can see the premiums and benefits offered for each policy in parallel. The simple and intuitive process leads to good decisions and great savings.

  1. Re-evaluate the functionality of your policy

Don’t be fooled by the advertising. Review all the features of the policy and identify backups or add-ons that may not be required Reduce uncomfortable additives like rust inhibitor, sealant coating, etc. it can save you premium costs significantly. Be sure to review the usefulness of all aspects of the plan and limit your options.

     3. Higher score with bonus points without entitlement

Yes, you can save up to 50% on your car insurance if you aim to earn high NCB points (no claims bonus). Insurance companies reward you with a no-claim bonus if you don’t file a claim for an entire year or more. The more years you are ineligible, the greater the reduction in your premium. Drive safely, earn NCB points, and save more on your bonuses!

  1. Increase your deductibles

By keeping your deductibles high, you can drastically lower your auto insurance premiums. For example, if your deductible is Rs. 3000 and your claim is worth Rs. 12000, you pay the first Rs. 3000 and the insurer pays the remaining rupees. 9,000. The higher your deductible, the lower the premium you will have to pay. Just make sure you don’t get carried away and choose an unaffordable deductible, as you will have to pay that amount when you make a claim.

  1. Install security features

Do you really need to put safety devices in your car? While most newer vehicles come with safety features as standard, those with older cars should think about them. Vehicles equipped with security devices such as anti-theft, alarm system, anti-lock braking system, etc. often have poor quality tiles. Installing additional safety features in older cars can dramatically lower your auto insurance premiums.

When it comes to saving on car insurance, it’s all about knowledge and research. Stay informed and act wisely!


Home Loan   Loan Against Property    balance-transfer    Business Loan    Personal LoanMudrahome App               


Recent Posts