Five Pro Tips to Save Money on Your Car Insurance Plan

We know that the number of people who own a car is increasing by the day. Simultaneously, the cost of car insurance premium in India is also seems to be rising. To be able to legally drive in India, a car insurance policy is mandatory. However, considering the policy cost, most people tend to buy the cheapest plan available in the market. When it comes to car insurance premiums, the amount is determined based on several factors.

We’ve several insurers in the market providing the best-in-class car insurance plans, making it is obvious to look for a great deal when buying/renewing the policy in India. To put an end to your hassle, and this discussion for once and all, we have listed five best tips that will help you save money on your car insurance plan.

Five Pro Tips to Save Money on the Car Insurance Plan

We are not going to tell you any magic trick for getting a discount on car insurance policies. To be precise, we will be sharing some tips from which you can grab a perfect deal for an affordable price.

  1. Buy Car Insurance Online

Since no agent is involved when buying car insurance online, you can save a lot of bucks. The commission fees (usually charged by an agent when quoting insurance premiums to you) are eliminated from the premium cost, which allows you to secure an excellent deal at the time of the car insurance purchase.

Besides, the process of buying car insurance online is quick and hassle-free. Just follow the steps that we have given below.

  • First, you need to visit the insurer’s website.
  • From the homepage, go to the ‘Car Insurance’ section.
  • Select the type of policy and add-on covers (if any) you need.
  • Fill in the application form with your personal and vehicle details.
  • Review the policy details and proceed to pay the premium amount online.
  • Once the premium is paid, the insurer will issue the car insurance certificate shortly.

Note: If you wish to understand how much the policy will cost you before making the purchase, use the car insurance premium calculator to determine the same.

  1. Avoid purchasing a car insurance plan from the dealer

There is no need to purchase a car insurance plan from your car dealer, especially if you want to save the commission agent charge. One can purchase Bajaj Allianz Car Insurance Plan online to avoid any commission or hidden charges.

  1. Install anti-theft devices

Having anti-theft devices installed in your car reduces the premium cost and increases the security of the vehicle. However, the anti-theft device must be approved by the Automotive Research Association of India. So, be mindful of the same before investing in a costly anti-theft device.

  1. You can opt for a higher deductible

Many insurance companies allow customers to choose a deductible premium amount. You can opt for a higher deductible, which will affect the premium pricing of your chosen car insurance plan. It is best to choose a deductible amount that you can pay easily at the time of claim settlement.

  1. Do not make unnecessary claims

For those already having a car insurance plan, it is advisable not to raise claims against your policy for minor scratches or dents. In fact, if you can take care of the damage repair expenses from your pocket, consider doing so. The reason behind this is that for every claim-free year, your insurer rewards you with a No Claim Bonus (NCB). The NCB can be used to avail discounts on your car insurance premiums at the time of renewal.

Bottom line

You can save money on your car insurance policies if you keep in mind the tips we listed above. There are no ‘shortcuts’ or ‘free deals’ when it comes to buying the best-in-class car insurance plan for your precious vehicle. You must do a thorough research on it. However, if there is any query related to this article? Feel free to ask us in the comments section.

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