Auto insurance is crucial when owning a car. It can be full auto insurance, Your own auto insuranceor automobile insurance without depreciation. Whichever plan you choose, don’t be fooled into paying high premiums. There are several ways to lower your auto insurance premium rates.

Keep these tips in mind!

Compare auto insurance

Most insurance companies have their official website where full details of the policies are given. There are several other websites where insurance comparisons are made. Remember, “cheap” isn’t always the best. If you get low premium rates, you should still have good coverage. Don’t be fooled by low premium rates and make sure you get all the benefits you need. If you have worked for the same insurance company for a long time, try outsourcing your insurance to a competing insurance agency.

Automobile insurance transfer

If a person is lucky enough not to have made a claim during the term of the contract, they are eligible for a No Claims Bonus (PNE) which will help earn discounts during the renewal period. When buying a new car, one should not worry about losing the bonus benefits since this bonus can be transferred to the new car insurance. If someone sells their vehicle for which they have not made any claims, they can ask the insurer for a no-claims bonus certificate and use it every time they buy their next vehicle. Keep in mind that the premium rate will not decrease when purchasing new auto insurance, but the reduction will help reduce premiums.

Pay attention to the cover

Insurance conditions come with several additional covers. Always check coverage when renewing and do not give up any coverage until absolutely necessary. Having your car completely covered is the best choice. Here are some additional coverages:

  • Loss of baggage and personal effects – Used to make a claim for loss or damage of personal effects at the time of an accident or theft. If a claim for own damage is not raised, this cover can be used without affecting the NCB.
  • Rapid Roadside Assistance – If the insured vehicle stops due to a flat tire, dead battery, lack of fuel or an emergency, you may be eligible for assistance from the insurance company by simply calling them.
  • Zero Depreciation – This is about getting a total claim amount against the value of spare parts when they are replaced after an accident.

Keep an eye out for excess

When a claim arises, the policyholder is also obliged to pay a small sum to the insurance company. There are two types of franchise / franchise:

  • Compulsory deductible – This is a compulsory deductible that must be paid according to the rates of the insurance regulator
  • Voluntary excess – This is an amount that the policyholder can pay voluntarily. If you choose a higher amount, it will lower the premium rates. Choose to only pay if you are a safe driver

Install anti-theft devices

Check with your insurance provider and install anti-theft devices approved by the Automobile Research Association of India (ARAI) which can lower premium rates. One can also benefit from discounts by becoming a member of any automobile association such as South India Automobile Association.

Remember when the policy is due for renewal and don’t let it expire. If there is a failure, you cannot enjoy the benefits of NBC. Insurance companies also check a policyholder’s driving record. It is therefore important to pay attention to the road and to drive safely, in compliance with all traffic rules.