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Smart ways to save on car insurance

Wish

Written by Udit Varshney

Updated Oct 15, 2023

It is illegal in India to drive without car insurance. But paying insurance premiums could be quite hectic on the wallet. It will be possible to save on the insurance premiums by choosing the plan and the insurer wisely.

Paying for car insurance and renewing it every year with premiums can be a huge burden. But having car insurance is mandatory in India and helps tremendously when the vehicle meets with an accident or theft. Thus it is important to be a smart buyer and choose plans that help to save on Car insurance premiums.

Smart ways to save on car insurance

Smart Ways to Save on Car Insurance Policies

One of the best ways to save on car insurance premium is to drive safely and avoid accidents and traffic fines. Insurance premiums are low for responsible and careful drivers. Other ways through which we can save on car insurance are as follows:

1. Shop Around and Compare Policies:

Comparing between different policies and insurance companies can help choose an affordable policy and save a lot of money. Careful screening of the policy can result in ample savings. Get quotes from several insurance companies to get the best deal from the best insurer. It is also a good idea to compare policies online and choose an affordable policy.

2. Review the Policy Features Thoroughly:

Policy seekers should not fall for advertisements but should review all the policy features and determine appropriate add-ons and riders before zeroing in on a single policy. Cutting on unwanted add-ons can also help to save on the cost of the premium.

3. Try to Score on The No-Claim Bonus:

Car Insurance companies will reward the insured with a No-Claim Bonus if they do not make any claims for a full year. The more the number of claim-free years, the greater will be the discounts on the premium. The best way to score points on the NCB is to drive safely and to refrain from making any claims. Up to 50% discount can be availed on the premiums if no claims are made for five years.

4. Install Safety Devices:

Most of the new vehicles come with standard safety devices including anti-theft devices. Those who have old car models can install such devices and communicate the same to the insurance company, to avail discounts on the premiums.

Also, Read

Why Key Replacement Cover is Important in Car Insurance?

All About Anti-Theft Device and Its Impact on 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.

Wish

Written by Udit Varshney

Udit has built B2C segments across various industries and has had significant contributions to the insurance sector. Read More

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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