Best Ways to Reduce Car Insurance

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Car Insurance
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Best ways to reduce Car insurance While choosing
a Car insurance online India one should be aware
that your policy has two components own damage
and third party damages. Your premium will be
based on these two components of the insurance
cover. People look to save money on the insurance
premium. Those who wish to lower their premium
should understand that only the own damage
premium part is under your control and third
party premium is prefixed by the regulator so
its same for all plans by various insurance
providers.
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The article gives some tips to control the costs
you pay for your own damage Car insurance online
India No Claim Bonus Every time you complete
your car insurance year without a single claim
youre rewarded with No Claim Bonus points. You
can redeem the points against the claim amount or
premium reduction. So check and see if you can
avail of this benefit. If yes, then the discount
will be deducted from your premium and you have
to pay less for the current year. It is
advisable, dont claim for petty scratches or
dent. Instead, accumulate your bonus points and
go for higher claim or discounts. The other way
to keep your NCB intact would be applying for add
on cover for NCB protection. Though you may need
to pay a bit extra on your premium but it is
always a valuable protection. It helps to
reinstate your NCB to a certain measure.
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Garage Repair Every car insurance online India
company has its own network of garages where you
can avail cashless repairs. Network garage offer
services at cheaper rates compared to your local
shop. These deals are 20 lower compared to a
local garage. A lower cost of repair means a
lower depreciating value of your car or bike.
Taking your motor to a network garage helps you
get a negotiated deal on repair costs.
Long-Term insurance policy - Keeping in mind
the huge growth opportunities and high FDI flow,
the government has decided to boost the
two-wheeler insurance segment. They have launched
the first three-year comprehensive cover for
scooters and motorcycles. The comprehensive cover
is 30 percent cheaper than buying annual policies
and comes with lucrative offers for the buyers.
The best part of a long term policy is that the
third party insurance premium and the service tax
hikes would not affect the premium of the policy.
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Voluntary Deductible A voluntary deductible
means you will have to pay a part of the claim
whenever the situation of claim arises. The part
of the claim you promise to pay decides the costs
of the premium for the rest of the cover. If you
opt for this option it will help you lower the
premium rate. It is advisable, if they are
small dents or scratches dont make a claim. It
will affect your no claim bonus in the long run
and you wont be able to reduce the premium or
make higher claims. Prudent and smart strategies
will always help you to keep the premium lower so
it proves easier on your pocket.
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Online comparison always helps to get better Car
insurance online India deals. You can get
multiple quotes from a single window. Based on
the comparison of policy in terms of benefits
features, discounts, claim settlement ratio, etc.
you can choose the one that fits your needs and
budget.
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