How To Cut The Cost Of Car Insurance?
Ever Since the third party insurance has become compulsory for car owners, the prices of car insurance have gone drastically up. The whole competition of getting the best insurance at the cheapest of prices seems like an occurrence in history now. If you have just bought a car and if you are struggling at the moment, then it is quite obvious that you may be looking for the best of tips to get the minimal and most useful car insurance in India. You need to find out the most important benefits for you depending upon the kind of driver you are, your age and your car. Here are some other tips that will help you in getting great offers from the best car insurance companies:
1) Never miss out on comparing
With the world offering a variety to us in every field, it is only obvious that we want to pick the best product in the lowest price. It is all about quality and affordability together. The most important thing to remember before buying a car insurance is to weigh your options. Shortlist the best car insurance companies, especially the ones known to perform the best for offerings of car insurance in India and check the benefits that each one is offering to you. After which, weigh in the quotes and then make your decision. You can check the best of rates and decide which one suits you the best. You can also go to websites that compares insurance and does research work for you. This way you will be able to choose the benefits that you need and also get the best available price for it for car insurance in India.
2) Choose your coverage wisely
As human beings, we always want more and more. However, most of the times we end up buying this that we do not really need. It is the same case with car insurance. A person will end up buying car insurance in India just by merely checking the lucrative features, a trick that the best car insurance companies use for increasing their sales. However, if you don’t need it, avoid the feature which costs you extra.
3) Look out for the increasing deductibles on the policy
A deductible can best be described as the amount that you would need to pay for claiming your car insurance. The best car insurance companies camouflage this amount behind terms and conditions which a layman often ends up missing out. A voluntary deduction usually ends up compromising the premium amount of your car insurance. Hence, try to get the best deductible amount so that when you are in need, you end up getting the claim.
4) Don’t go big but don’t go small either
While you may feel that the main reason to get car insurance is to end up saving on the expenses that you may be burdened with in times of an unfortunate eventuality, the truth of the matter is that you need to know when to make how much claim. Making small claims for car insurance in India defeats your entire purpose of saving money. If you keep making small claims, you will end up losing on the benefit of a no claim bonus which is the amount of bonus collated over consecutive years when you do not make a claim. When you do not make a claim for a year on your car insurance in India, you may see a dip of up to 50% in your consecutive year’s payment making it quite an excellent tip for saving your money.
One way to ensure this is that do not dip into your insurance money every time you have a small accident. Getting it repaired in a small local shop will help you save up on your premium and will ensure that you take advantage of a no claim bonus.
5) Practice Safety Measures
Another way to ensure that you save up on your car insurance in India is to practice all the measures to keep your car safe. Try installing anti-theft devices like extra locks for the steering or ensuring that your airbags are working fine. Get an anti-theft alarm installed so that you can get a further 5% discount on your premium amount. Also, people who are associated with organisations such as AAI (Automobile Association of India) or even the WIAA (Western India Automobile Association) get good discounts on their premiums on car insurance offered by best car insurance companies in India.
6) Avoid being extra fancy if you want to avoid extra premium
You can cut the cost of your car insurance in India if you keep the car in the same state that it came from the manufacturer. While car modifications such as alloy wheels, expensive gadgets, ultrasonic sensors seem lucrative and fancy, they will drastically impact your premium amount and end up increasing it a lot. If you are looking at cutting costs for your car insurance, then read the terms and conditions of the best car insurance companies in India and see the quotes they offer depending upon your desired modifications. Do not avoid informing your insurer; otherwise your car insurance claim can be invalidated in times of need.
Check out the offers made by the best car insurance companies in India and see if they have some exclusive products for your age or bonus on premiums depending upon your profession or a stellar driving record. Avail car insurance in India only after seeing the available options in the market so you can bag yourself a great deal and get greater discounts based on the different criteria. Another tip to save up on the cost of car insurance is by getting all your policies from the same company. The best car insurance companies in India will also have other insurance products, and as a loyal customer, you may be able to bag great discounts. So, with all these pointers in mind, ensure that you get a good deal so that you pay only for what you need and are protected in times of need.