How Can One Reduce The Premium Cost Of Car Insurance In India
Car insurance can sometimes be a very daunting task as an individual has lot of offers to choose from. But we must buy a car insurance plan which provides comprehensive insurance and financial safety without digging into our pockets. There are two types of car insurance policies available in the market namely third party insurance and comprehensive car insurance policy.
A third party insurance clause is mandatory which is required to be taken by every vehicle owner. It provides risk to cover third party car damages while comprehensive car insurance policy provides cover against damages to own car, third party vehicle and third party property. An individual has to carefully evaluate a new car insurance policy and even old car insurance renewal policy.
Selecting the best car insurance India is indeed a tough task and individual for most of the times is not aware of the various clauses of the policy. In order to avoid this situation, insurance seeker must understand the policy terms and conditions of a general car insurance policy as it helps to buy appropriate car insurance policy along with buying the insurance policy which is cheaper than other available options. Below are some of the steps by which an individual can reduce car insurance premiums and eventually buying insurance policy meeting your needs:
Compare price quotes: This is the most important factor that helps an individual to lower their insurance cost. This can be done while buying new car insurance or a car insurance renewal policy. Comparison of car insurance premium prices and quotes can be done with the help of insurance aggregators as they provide various comparison tools to compare policies provided by different insurance companies on a single platform. You can use car insurance premium calculator in order to calculate your car insurance premium.
Raising deductibles: An individual can lower their car insurance premium by opting for higher deductibles. By opting for higher deductible, you can choose best car insurance India at lower prices. Higher deductible means you will pay more for repairs in case of an accident of the vehicle. Higher the deductible, lower the insurance premium and vice-versa.
Pay lump sum: Always choose to pay one-time payment towards car insurance premium as insurance premium paid in lump sum is less than monthly installments.
No claim bonus: You should avoid making unnecessary claims as these claims account for more than 30 % discount in subsequent insurance policies. You can use car insurance premium calculator to evaluate its effect.
A third party insurance clause is mandatory which is required to be taken by every vehicle owner. It provides risk to cover third party car damages while comprehensive car insurance policy provides cover against damages to own car, third party vehicle and third party property. An individual has to carefully evaluate a new car insurance policy and even old car insurance renewal policy.
Selecting the best car insurance India is indeed a tough task and individual for most of the times is not aware of the various clauses of the policy. In order to avoid this situation, insurance seeker must understand the policy terms and conditions of a general car insurance policy as it helps to buy appropriate car insurance policy along with buying the insurance policy which is cheaper than other available options. Below are some of the steps by which an individual can reduce car insurance premiums and eventually buying insurance policy meeting your needs:
Compare price quotes: This is the most important factor that helps an individual to lower their insurance cost. This can be done while buying new car insurance or a car insurance renewal policy. Comparison of car insurance premium prices and quotes can be done with the help of insurance aggregators as they provide various comparison tools to compare policies provided by different insurance companies on a single platform. You can use car insurance premium calculator in order to calculate your car insurance premium.
Raising deductibles: An individual can lower their car insurance premium by opting for higher deductibles. By opting for higher deductible, you can choose best car insurance India at lower prices. Higher deductible means you will pay more for repairs in case of an accident of the vehicle. Higher the deductible, lower the insurance premium and vice-versa.
Pay lump sum: Always choose to pay one-time payment towards car insurance premium as insurance premium paid in lump sum is less than monthly installments.
No claim bonus: You should avoid making unnecessary claims as these claims account for more than 30 % discount in subsequent insurance policies. You can use car insurance premium calculator to evaluate its effect.
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