Are you looking for the best car insurance policy at the lowest premium? Here are top 5 hacks to buy car insurance with lowest premium.
Do you really love your car? If yes, you must be aware of the fact that a car insurance policy with full protection is the most important need for your car. Rather, it is a necessity if you want to drive your car in India. Hence, you should always keep your car insurance policy updated and go for the renewal process before it expires. This is when; you might look out for the best car insurance policy with the lowest premium.
Many people believe that buying car insurance online is more expensive than the offline mode. Also, there is a wrong myth that premium of online car insurance policies is more when compared to those available through offline channels. In fact, you might get attractive deals and discounts when buying car insurance policy online that lowers the premium by a huge margin.
Check out these top 5 hacks to buy car insurance at lowest premium.
# 1 Buy Online
Your insurance agent must be insisting you to buy car insurance policy through offline mode only as it is cheaper than online mode. But wait, this isn’t the fact. Buying car insurance online can be cheaper, all thanks to the attractive deals and discounts available online.
As there is no agent commissions included, most of the insurance companies give away the benefit to the customer when they buy or renew car insurance policy online. The difference in the total premium between online and offline mode can lie between 5%-10%.
# 2 Compare before you buy
It is always advisable to do a thorough research and compare all available car insurance policies before buying one. Nowadays, there are several comparison websites which allow you to compare different car insurance policies, their features and the premium with one single click.
All you have to do is enter the required details and you’re done. An interactive screen will show you car insurance quotes from leading car insurers in a few seconds. Thanks to this, you can buy the best car insurance policy with the lowest premium.
# 3 Renew before expiration
Give up the laziness! Don’t wait for your current car insurance policy to expire. We would advise you to get your existing car insurance policy renewed before the last day of its expiration, and ensure that it remains active always.
Almost every car insurer offers additional discounts to those car owners who get their policy renewed before the expiration date. This would also ensure that you don’t have to pay extra for car inspection, penalties or any fine, bringing your car insurance premium to its minimum figure.
# 4 Cherish No Claim Bonus
It is sensible to pay for small repairs and damages to your car, instead of raising a claim to cherish the benefits of NCB (No Claim Bonus). If your current financial position allows, you should pay for all those minor damages like broken tail lamp, broken side indicators or any minor dent and don’t affect your policy’s NCB status affected.
And then, when you renew your existing car insurance policy next year, the car insurer will offer you additional discounts. This would bring down the car insurance premium significantly.
# 5 Club two policies
Almost every reputed insurance company offers additional discounts and amazing deals, when you buy more than one insurance policy or product together. If you have more than one four-wheeler, ask the insurer whether you eligible for discounts when you buy an insurance policy for both the cars.
Also, several insurers offer customized insurance policy that includes both; car insurance and personal insurance, clubbed together at a discounted premium.
Do you have an extra hack or advice to be added here? Share your thoughts and comments in the section below.