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Smart ways to avail discount on motor insurance in India
by Kanika Shelatkar Insurance ConsultantCar insurance is essential. It is illegal to drive unless it
is insured. Therefore, look for a good motor insurance policy when you purchase
a four-wheeler. However, the cost component should also be taken into account.
This is why you need to search for deals and discounts when you purchase a new car
insurance policy. Your ideal policy should be all-inclusive yet affordable.
Thankfully, there are some techniques through which you can reduce
your four-wheeler
insurance costs. Look out for offers in your auto insurance quotes, and you
will have a profitable deal.
Automobile Association: Before you purchase a new car
insurance policy, consider being a part of a registered automobile association.
Members of such associations are instantly eligible for insurance discounts.
So, if you are looking for a genuine and stress-free way to get an offer on
your vehicle insurance quote, do consider this alternative.
Hands-on Deal: Many individuals end up spending funds
unnecessarily on insurance policies owing to wrong choices. Motor insurance is of
two kinds – third party and comprehensive. A comprehensive plan is
all-inclusive but more costly as compared to a third-party plan. A
comprehensive cover is more beneficial for a fairly new car, but it might be suitable
for old cars. So, analyse your requirements and purchase the type of motor
insurance you need. You may save a lot by choosing the right plan.
IDV Calculation: The moment you purchase a
four-wheeler, you need an insurance to drive on the Indian roads. This is
because a new car has more value, but your three-year-old car is devalued in
the market. Hence, determining the IDV is crucial. The IDV reduces your vehicle
insurance premium, and thus, calculate it accurately.
Usage of NCB: If you have some No Claim Bonus (NCB) accumulated
in your policy, remember to use it while renewing the insurance online. The NCB
can substantially reduce your overall four-wheeler insurance costs.
Change Your Deductible: When you purchase a new motor
insurance plan, make sure you change the deductible yourself. If you are assured
of your driving skills, choose for a higher deductible and your premium will go
down.
Safety Device Installation: Install some anti-theft devices
in your vehicle. This makes it less susceptible to thefts. The insurer’s risk reduces,
and they might compensate you with a discount deal on the motor insurance quotation.
Adjust Add-Ons: Add-ons are helpful and you need to
pay extra for them. It is, therefore, essential for you to see which add-ons
are actually of use. Do not purchase them unless you require them. This also brings
down your overall motor insurance costs. For example, a passenger cover might
not be helpful if you travel solo. It only adds to your premium and maybe of no
use.
Compare: Lastly, you must compare car insurance
policy in India. It is the quickest and the most economical way to find vehicle
insurance discounts. You can find the best policies at reasonable rates only if
you compare your alternatives.
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About Kanika Shelatkar 
Insurance Consultant
11 connections, 0 recommendations, 73 honor points.Joined APSense since, March 18th, 2019, From mumbai, India.
Created on Nov 29th 2019 01:01. Viewed 577 times.
