If the time has come to renew your car insurance, we are going to tell you 5 tips that will help you save a lot of money on car insurance premiums. Also, know which type of car insurance will be better for you…
Why is car insurance necessary?
Under the Motor Vehicle Act, it is mandatory to take third-party insurance for the car. But here we are talking about the insurance of your car. Make it a habit to take this as well as it provides protection against increased expenses due to any kind of loss. On the other hand, if you are also renewing your car insurance, then by following the things mentioned below, you can save a lot of money.
Do research before taking insurance
If you are buying new car insurance, or you want to switch to a new insurance company when you renew. Therefore, according to your need, first of all, you should do thorough research about insurance. Nowadays it has become very easy, you can compare or research it by visiting many online portals. It helps you save a lot of money on your car insurance premium.
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Timely Renewal Car Insurance
If you renew your car insurance then you should not delay, because if you do not renew the car insurance on time, you may have to pay an increased premium. Not only this, if you are late then you may have to comply with the new conditions related to insurance. Therefore, it is better that you get your car insurance renewed about 7 days before the expiry.
Avoid making petty claims
If you have to deduct the premium at the time of renewal of your car insurance, you should avoid making petty claims for your vehicle. If there is any damage to your vehicle and the cost of its repair is very less, then you should not claim it. You get the benefit of this in the form of a claim bonus.
Avail No Claim Bonus
If you make a no claim every year while renewing your car insurance on time, you get a bonus on the premium. In the first year, the No Claim Bonus can be availed in the form of a discount of up to 20% on the premium. That is, if your car insurance premium is Rs 10,000, then you can save up to Rs 2,000 as a claim bonus. The benefit of No Claim Bonus keeps on increasing every year.
Install anti-theft device in the car
Usually, the installment of car insurance is decided in proportion to the value of your car. This includes the depreciation cost, the risk factor of the car. In such a situation, if you install a device like an anti-theft device in your car, then it reduces the risk of the insurance company regarding your car. You get the benefit of this in the premium of the installment of car insurance. But keep in mind that any change in the engine of the car can increase your insurance premium. Know which insurance is best for the car.
take the bumper to bumper insurance
If you are insuring your car, then you should consider getting bumper-to-bumper insurance. The biggest advantage of bumper-to-bumper insurance is 100% damage cover. This gives comfort to the customer. At the same time, the customer gets full coverage at the time of claim settlement. Above all, the customer does not have to bear the depreciation cost to receive the after-damage service. However, you should choose car insurance according to your pocket and need.
