Cheapest Car Insurance Policy

How To Get The Cheapest Car Insurance Policy?

A car insurance policy will protect you against the expenses of damage and injuries caused in a car accident. The worst traffic and road conditions are also the main reason to take a car insurance online policy. It becomes very challenging when you have to pay the complete repairing bill from your pocket. Purchasing car insurance will not only save your money but also protect you from legal formalities. Everyone wants to get complete protection and excellent service by paying low premiums. The car insurance company decides the premium according to the model, variants, and usage of the car. We have provided some tips for you to reduce your premium.

Follow these ways, To get the best car insurance policy

Increase deductibles: 

A deductible is the amount of money that customers have to pay irrespective of the total billing amount. You have to choose this amount at the time of purchasing or renewing the car insurance policy. The higher deductible you opt the lower will be the premium. The risk of the insurance company getting decreased hence the amount of premium will be reduced. You can save a good amount of money but choose high deductibles. But make sure that you can afford the deductible amount easily. Else, if you will not be able to pay the deductibles then it will cause problems at the time of claiming.

Collect No claim bonus:

If the customer does not make any claim in a single year then the insurance company will reward you with no claim bonus. If you don’t make a claim for more than one year then it will further be increased. You can reduce your premium at the time of renewal by claiming this no claim bonus. Try to avoid accidents and make frequent claims to accumulate more no claim bonus.

Transfer No claim bonus:

No claim bonus is linked with the policyholder and the vehicle has no role in it. If you have purchased a new car and have no claim bonus in your previous car policy then you can transfer it. The premium amount of the new car will be reduced by transferring no claim bonus. To transfer your no claim bonus, you have to inform the insurance company. Further, the company will provide a no claim bonus certificate that will be valid for 3 years.

Compare and buy:

It is the most important part that everyone should check before purchasing car insurance online. You can compare online quotes of all the car insurance companies available in the market. This will help you to choose the cheapest and the best car insurance policy.

Install tracking and anti-theft devices:

Installing an anti-theft device in your car will secure it from getting stolen. Similarly, the tracking device will track the location of your car if someone stole it. It would reduce the risk of the insurance company resulting in automatically reducing the premium cost. Customers can approve their anti-theft device from ARAI for more reliability.

Renew the policy on time:

Renewing a car insurance policy has multiple benefits. If your policy gets lapses then you have to purchase a new insurance plan for your car. In this case, the insurance company will inspect your car and the chances of an increase in premium are higher. Moreover, once the policy gets lapses, the entire no claim bonus will get void. Renewing a car insurance policy before the due date will also protect you from additional fines.

Only choose the required coverage options:

You will get numerous benefits while purchasing an online car insurance policy. The premium price will increase with every benefit you opt for. So, It is not necessary that you have to choose all the benefits. 

Take membership of automobile association:

If you are certified by any registered driving school or having a membership of the automobile association, then you can ask for an additional discount in premium. You can avail of a flat 5% discount on the premium price.

Choose a single plan for multiple vehicles:

If you have more than one car then you can cover both the cars under the same policy. You can save a huge amount of money by opting for a single plan for multiple cars.

Important benefits of car insurance policies

Insurance policies are provided to reduce financial risk, whether it is health insurance, car insurance, or any other insurance. If you opt for a car insurance policy then the insurance company will look after your repairing expenses. But if you don’t take it then you have to pay the expenses along with heavy penalties. Driving a car without insurance is a crime and you will also get imprisoned for this crime.

There are benefits that you can avail from car insurance:

  • If any person dies in an accident that has the involvement of your car then you should have to face many legal formalities. You might have to pay a huge amount of fine to get out of this. A third party liability coverage along with a comprehensive plan will save you from these formalities.
  • A Car insurance policy will pay the medical expenses of the co-rider In case of serious injuries.
  • A car insurance company will pay the loss If you have damaged any social property in the accident.
  • You can take cashless service in all the network garages.
  • You will get complete protection against theft on purchasing car insurance policy.
  • An insurance policy will also cover the damage caused due to natural calamities such as floods, earthquakes, landslides, cyclones, hail, etc.
  • You will also get complete protection against several manmade calamities such as terrorism, riots, and explosion.
  • Customers can choose to add on covers along with a basic plan. Customers can also choose to auto-recharge the sum insured amount if their basic sum insured gets exhausted.

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