How to save on car insurance renewal premium
It is true that buying car insurance is equally important as owning a car. Car insurance saves us from many risks and hence it should be one of the basic things after buying a car. All inadvertent risks like accidents, third party damage or damage in natural calamities are covered with the help of vehicle insurance. Generally, we give more importance to new car insurance and car insurance renewal is never given a priority which sometimes causes problems as well.
Car insurance renewal is a necessity, so it should be renewed immediately after expiry. But these days buying car insurance is a tough task with lot of different options available. However, few wise decisions easily can help saving us money while taking a car insurance renewal policy. Below are the tips that can help saving us money: y:
Increase policy deductibles: By increasing you deductibles at the time of settlement of the claim can help you reducing your insurance premium. While buying new car insurance or car insurance renewal, this factor can help save you money. Deductibles are the part of the settlement which is paid by the insured and not the insurer. Hence, one can go high on deductibles but one should go through their budget before setting up sum for deductibles.
Comparison of various policies: Vehicle insurance online buying is the most easiest and convenient mode of buying insurance. We can buy new car insurance or can buy car insurance renewal via online medium through preferred insurance provider or through insurance aggregators. We just require some time to research and evaluate various options. One can use car insurance calculator India to determine the premium for the policy as well.
No claim bonus: One must remember a claim bonus which is generally provided by every insurance provider preceding a no claim year. This will help an individual in reducing their car insurance renewal premium.
Think twice about paying in installments: We should pay insurance premium in one go and not in installments as most of the carriers charge administration fees which can make our insurance premium shoot up. So, one should pay their car insurance premium upfront if possible.
Avoid lapses in coverage: We should avoid lapses in coverage as it can disqualify an individual from receiving various discounts. Insurance companies use lapses in coverage to increase you premium.
Well with the help of above mentioned tips, one can save some money. Vehicle insurance online must be preferred over other methods as it is economical and car insurance calculator India must be used in order to get better coverage.