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How to Renew Car Insurance Policy at Low Premium?

Published On Nov 26, 2021 10:00 AM By InsuranceDekho

If you have a car, you must have a car insurance policy to keep it safe and secure. Read on to find out how you can keep it going at a low premium.

Car insurance policies are an absolute must if you have a car. They keep your car safe from a number of contingencies and are reliable under all circumstances. All car insurance policies have an expiry date, post which they need to be renewed if you want to continue to be insured under them. During the renewal of your car insurance policy, you can save up on the new premium amount in some ways which have been discussed below. 

How to Renew Car Insurance Policy at Low Premium?

Ways to Renew Car Insurance Policy at Low Premium

If you want to keep your car safe, you must renew your car insurance on time. Most insurance providers ask policyholders to renew within 90 days of the expiration date to keep the car insurance policy active and avoid penalties. The expiration date for a particular policy might differ from one insurer to another as well. Here are some ways in which you can renew your car insurance policy at low premiums.

  • Compare Policies Online

Browsing through car insurance policies online gives you a wide perspective on what is available in the market currently. This will also help you compare their prices before you decide to settle on one. There are some insurance companies that also offer huge discounts when their policies are purchased or renewed online, so make sure to avail of that. Besides, it is always more convenient to look through all the information online, where it is available at only a few clicks of your fingers and there is increased transparency. 

  • Keep your No Claim Bonus Intact 

No Claim Bonus is a certain discount that is available to all policyholders if they do not make any claim against their car insurance policies. It increases with every subsequent financial year where no claims have been made. All of the discounts are carried forward and applied during the renewal of a policy. Therefore, it is advisable that policyholders do not make claims for easily resolvable issues or ones that do not incur much charge. Keep the benefits reserved for any unforeseen and severe incident. Although it is tempting to use the benefits of the insurance for minor inconveniences, it is much more beneficial to have this discount and keep your car protected for a longer time. Moreover, most insurers allow policyholders to retain their NCB even if they switch policies.

  • Install ARAI Approved Theft Devices

Installing an ARAI (Automobile Research Association of India) approved theft device not only keeps your car from being stolen but can also help you get a lesser premium. Although many cars these days come with pre-installed anti-theft devices, make sure to check and let your insurer know to claim the discount. Insurance providers encourage the installation of anti-theft devices as it prevents the car from being stolen, thereby reducing the chances of policyholders making claims to them. Therefore, both parties are getting equal benefits with this method. 


Make sure to renew your car insurance policy on time to not only avoid any penalties but also to keep protecting your car at lower premium rates. To give up on a car insurance policy altogether just because it might not have come in much use in the previous policy period might not be the wisest decision, because unforeseen accidents are always a hassle to deal with.

Also Read:

What Is A Knock-For-Knock-Agreement?

All About Outstation Emergency Cover in Car Insurance

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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