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Tips To Reduce SBI Car Insurance Premium

Published On Aug 12, 2021, Updated On Aug 18, 2021

Read this article to find out effective ways to reduce the cost of your car insurance premium with SBI General Insurance.

In today's world, car insurance prices are increasing on a daily basis. Having a vehicle insurance policy with maximum coverage at a reasonable cost has become a top priority for everyone in such a situation. Insurance premium prices are determined by a variety of variables. This article will show you how to save money on your car insurance.

Tips To Reduce SBI Car Insurance Premium

Ways To Reduce Your SBI Car Insurance Premium

SBI General Insurance is a well-known and well-respected name in the insurance sector. In FY20, it paid out 89.51 percent of claims, making it a very dependable insurer. The SBI General Insurance network includes over 16,000 garages, ensuring that your car is repaired quickly and efficiently. You may also personalise your car insurance coverage by selecting from a list of 12 optional riders. Your premium may be on the pricey side as a result of these favourable features. SBI General Insurance offers a number of cost-effective solutions to lower your car insurance rate. A few are - 

  • Pick Your Riders Carefully 

Choose Your Add-On Covers Carefully. Insurance companies provide a number of additional services that might help you in times of need by preventing you from incurring unavoidable additional costs. The cost of your premium will go up if you add these coverages to your car insurance policy. As a result, double-check that the policy add-ons you choose are truly required and worth your money. SBI General Insurance provides the following riders/add-ons -

  • Bi Fuel Kit Cover 
  • Zero Depreciation Cover
  • No Claim Bonus Protection Cover
  • Key Replacement Cover
  • Personal Belonging Cover
  • Inconvenience Allowance Cover 
  • Return On Invoice Cover
  • Engine Guard Cover 
  • Consumable Cover 
  • Additional Roadside Assistance Cover 
  • EMI Protector Cover 
  • Tyre And Rim Guard Cover 


  • Insurance Claims For Minor Damages Should Be Avoided

Most insurance experts advise against filing a claim for small damages on your car insurance. This is largely owing to the fact that not claiming your insurance for more than a year might result in SBI car insurance price savings of up to 50%. No-Claim Bonuses are what they're called. These might help you save a lot of money on your car insurance premiums.

You may also like to read:- Tips To Avail No Claim Bonus For A Car Insurance Policy 

  • Adding Security Modifications

In recent years, car customisation has grown increasingly fashionable. Adding changes to your car that increase its security decreases the chances of it being stolen or damaged. The risk element is of primary importance to insurance firms. As a consequence of the devices put in your car, the risk is reduced, resulting in a lower premium. Thus, SBI General Insurance will reduce the cost of your car insurance premium as there is a reduced risk of theft.

  • Try Not To Make Any Performance Or Appeal-Enhancing Changes

Modifications to your car that enhance its speed or appearance will boost your premium since they increase the chance of an accident or theft. As a consequence, making such changes only when absolutely essential can help you save money on your SBI car insurance rate.

  • Increasing The Voluntary Deductible May Be Beneficial

Raising your deductible might help you save money on your car insurance rate. A deductible is an amount you pay out of pocket to the insurance company before the company pays for your expenditures. Make sure you just pay what is necessary for your budget.

  • Remember To Renew Your Insurance Policy

Not only will the timely renewal of your car insurance policy keep you safe and protected, but it will also help you remain on top of the NCB component. You will be ineligible for the NCB component if you do not renew your insurance.

Also Read:- No Claim Bonus in Car Insurance: Know More? 

Take Away

Car insurance is not only required but also very advantageous if you want to prevent expensive repair expenses. Make certain you get a car insurance policy that offers enough coverage at a fair price. To reduce the cost of your car insurance premium and drive safely, follow the measures described above.

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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