Tips and tricks to choose the best car insurance plan for yourself

Tips and tricks to choose the best car insurance plan for yourself

While buying a car, you do an extensive research on which car should be bought as you don’t want to go wrong with this decision. Then why does it happen that insuring your car is left on the discretion of your insurance agent? He suggests you a plan and without a second thought, you insure your car without knowing the minute details which can help you save quite a few bucks and get you the same cover at subsidized rates. Also, insurance is compulsory for every vehicle which runs on Indian roads as per “The Motor Vehicles Act�.

Few tricks and tips if you are aware of can give you some of the best deals while insuring your car. Let us have a look at it in detail.

Pay small claims from own pockets

Often it happens that your car is slightly damaged and its repairs might cost you a small amount. Such expenses should not be claimed from the insurance company as it will impact your no claim bonus.

Transfer your No claim bonus

No claim bonus is a reward in the form of discount offered by the insurance company to the person holding the policy for driving safely and making no claims throughout the year. This benefit is transferable from one car to another of the same owner. So, if you happen to buy a new car and sell off your old car, do not forget to get your NCB transferred on your new car. This can substantially reduce your premium.

Install anti-theft devices

Anti-theft devices like a GPS vehicle tracker or electronic immobilizers. However, these Anti-theft devices should be approved by the ARAI i.e. Automobile Research Association of India. Insurance companies provide a discount of 2.5% on the premium if the car has inbuilt anti-theft devices.

Opt for deductibles

You can avail voluntary deductibles in which if you claim any expense, a fixed amount will be paid from your pocket and the balance will be reimbursed by the insurance service provider. Voluntary deductibles offer a discount on the premiums.

Renew car insurance before due date

Do not forget to renew your car insurance. Make a reminder of the due date and make payment before the due date to avoid unnecessary issues. Suppose, you fail to pay a premium on time, the policy might lapse and to renew the policy is equivalent to getting a new one. Your vehicle might be inspected again, the IDV will be calculated in a revised manner and the premiums could also be inflated.

Buy car insurance online

Now, you can compare the plans offered by various insurance companies and opt for the one which fits your need the best. Websites offer you all round the clock customer assistance and help you evaluate the options available in the insurance market. Also, great discounts are offered to buy online as it eliminates insurance agent commissions and extensive paper work. Buying a policy online provides you a great deal at a click of the mouse.

Do not forget the fine prints

Many times, the low premiums are tempting for people to buy a plan without reading the fine prints in entirety. Remember to read the terms and conditions before buying a plan. It might involve an investment of a little more time but it will be worth in the long run.

With the evolving technology, you can now buy almost everything under the sun be it gold, property, grocery, insurance with the help of internet. It only demands to be careful and knowledgeable about the purchase you wish to make. With the help of above tips and tricks, you can ensure your car at cheap premiums with all the desired features.

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