When was the last time you drove around the city in your precious car? Can’t remember? Neither can us. However, now that the country is unlocking places phase by phase, you must be thrilled to drive your car again. But wait! Is your car insurance policy up-to-date?
As we know, car insurance is a mandatory document when driving a motor vehicle in India. If your car insurance plan has expired or lapsed during this lockdown, we might be able to get you a good deal. Here are five pro tips that will help save money on your new car insurance plan.
Five Tips To Save On Car Insurance
- Buy car insurance online
Buying car insurance online saves you a fortune. Since there is no agent involved in the entire process, the agent commission fees that are usually added to your premiums are eliminated.
Moreover, buying car insurance online is hassle-free and quick. All you have to do is –
- Visit the insurer’s website and go to the car insurance section
- Choose the type of coverage you need
- Fill the application form
- Make the premium payment online
- The insurer will assess your application and issue the policy in no time.
Also, you can use the car insurance calculator to determine the premiums charged on your chosen coverage and add-on benefits. That way, you will be able to select a policy that is affordable and best suits your needs.
- Avoid buying car insurance from a dealer
If you have just purchased a new car, it is advisable not to buy car insurance from your dealer. Usually, car dealers have partnerships with insurance providers and try to sell a policy to earn maximum commission in return. Moreover, most dealers tend to include add-on benefits that may not be necessary for you at the moment, which further adds costs to your premium amount.
To avoid this, you can buy a Bajaj Allianz Car Insurance plan by yourself at Finserv MARKETS online. Select a coverage that is affordable to you and fulfils your car insurance-related needs.
- Install anti-theft devices
Having an anti-theft or security device installed in your vehicle will help you save on car insurance premiums. The devices make your car less prone to theft and thus ensures that it has top-security. However, the anti-theft devices you install should be approved by the Automotive Research Association of India.
- Opt for a higher deductible
Most insurers allow the facility to opt for a deductible when buying car insurance in India. A deductible is an amount you choose to pay from your pocket when a claim is made. Make sure that the deductible you opt for is neither too high nor low.
It should be an amount that is convenient for you to pay in times of crisis.
- Do not make unnecessary claims
If you come across small dents or scratches on your vehicle, try paying for its repair from your pocket. It is wise not to raise claims for every little issue in your car, especially when you can afford to pay the repair expenses. The reason being, for every claim-free year, you receive No Claim Bonus (NCB). The NCB benefit can be availed to get discounts on your car insurance premiums at the time of renewal.
