Car insurance is not only a legal obligation but also very important. In times of accident or theft, insurance comes to the rescue. However, we often buy any policy without giving much heed and later at the time of claim we feel cheated. In such a situation, whenever you go for car insurance, take some precautions and read the policy carefully. You should not save money by purchasing any cheap policy. However, by following some tips, you can reduce your car insurance premium.
Compare and buy:
First of all, you should compare the terms and conditions of all the available policies, before you buy or renew the insurance. Know what they cover, premium, exceptions and other conditions. If you are tech geeky you can do this online, otherwise, you always have the option to contact the insurance agent of all the companies and get the quotation. Do a parallel comparison of all the policies. In this way, you can save your money without compromising.
Never hesitate to ask for a discount:
When you go to a company, ask for a discount from the company. Whenever you insure your vehicle, be sure to get information about the discount from the dealer or insurance provider. Many insurance companies also give additional discounts to those who follow the traffic rules. If you have taken fewer claims, then insurance companies take this into account. In such a situation, you can claim for no claim bonus.
Transfer your NCB:
If you have earned a huge No-claim Bonus(NCB) in 6-7 years, and are planning to buy a new car, you can cut your premium significantly by shifting the NCB from your old insurance policy to the new car insurance.
Customize the policy:
You should choose the car insurance policy according to you. If you want to reduce the insurance premium, then you can customize the policy according to your needs. However, companies also offer some packages, such as claim for loss of keys, in addition to benefits such as Engine Secure, Road Side Assistance, Claim for Loss of Personal Items. These additional services increase your premium. If you want, you can choose the policy with a low premium according to you.
Buy a car with an anti-theft device:
You should look into buying a car with an anti-theft device. If your car is equipped with devices like GPS, steering lock, which reduce the risk of car theft, then you should buy such cars, this may make your car a little expensive, but the burden of your insurance policy will also be slightly less.
Do not modify the car:
You should not get the car modified from its original state. Doing so voids the warranty of your car. Insurance companies also increase their premium if you modify the car, so if you want to avoid expenses, then you should not get the modification done in the car.