You bought your favourite car last week and now wondering is it really safe to take it out on a highway? Thinking of car insurance is just the right thought to consider at this juncture. After all, car is a precious asset. These days, premiums of car insurance have taken a toll on the pocket of people. Considering this, it is essential to know some significant car insurance tips to help you save on premium expenses. Let us help you better. Here are some tips to save on car insurance premium online:
Compare many different insurance policies online
Reading and comparing various policies is definitely among the best car insurance tips. Before finalizing an ideal car insurance, make sure to compare the benefits and stated price offered by different insurance providers. Most of them have a website as well as plenty of online car insurance comparison portals where you can compare car insurance premium rates charged by these companies. These online car insurance portals are cheaper than getting manual enquiry from companies and they also help you make the best car insurance premium choice easily.
Regularly assess your current policy
If you have been taking the same car insurance policy for the same car for many years, it is advisable to try other insurance companies as well. You may get amazing discounts and still lower car insurance premium costs. This is one of the successful car insurance tips we can provide you.
Selecting a reliable car insurance company
Beware of car insurance providers who offer to give you ‘free’ insurance. It is mostly just free for the first year with no customization. Also, bear in mind that a ‘no frills’ policy is usually the cheapest as the premium increases proportionally when insurers include additional features. It is also crucial to make sure that you read the fine print in the policy carefully before buying it.
Beware of deductibles
A deductible is the amount paid by the policyholder from his pocket, when making a claim. Increasing your deductibles or voluntary deduction is one of the best car insurance tips. It can reduce your car insurance premium. If you opt for deductibles, it is suitable to pay according to your convenience rather than going overboard.
You will receive the entire claim amount in the case of an accident if your deductible is zero, but the premium you pay will be very high. A higher deduction would make sense in two cases if:
- you are an extremely safe driver, which lowers the chances of an accident; and,
- you have not claimed insurance for a few years
Get small repairs whenever you can
The claimed amount is sometimes lower than the total processing fee and the loss of No Claims Bonus. The best way to use your insurance is to obtain small repairs at local workshops. An added benefit is that the expenditure is less, and the No Claims Bonus is also saved.
Passing on your bonus
The advantage of not making a claim is that the bonus collected is transferable to the new car you buy. This way it is wise to possess the insurance in your name even after selling your car. Ask your insurance company to give you the no-claim credential.
Ensuring your safety
Not many people know that installing safety devices like the steering wheel locks and gear locks, car alarms etc. can fetch them a discount on their premiums. These associations come under the Motor Vehicles Act and Rules which means the members are considered as ‘safe drivers’.
Avoid fancy add-ons
Car modifications and expensive gadgets like adding alloy wheels, spoilers, automotive night vision, ultrasonic sensors, etc. This may lead to a higher premium. It is suggested that such modifications and gadgets should ideally be avoided if you want to keep your premium low. If you still wish to add those modifications at the cost of higher premiums, notify your insurance company. If you don’t do that, the company may invalidate your insurance.
When you have multiple insurance policies in different categories with the same insurance company, and you contact the same company for a car insurance policy, the company would offer a lower car insurance premium as a loyalty reward. Make sure to add this in your list of car insurance tips.
Taking care of the lapse
Once your car insurance policy lapses, you may not qualify for the No Claims Bonus that you would otherwise have been eligible for. Make sure to ask the insurance company to send a reminder before the policy ends, so that you renew your car insurance policy without fail.
These car insurance tips will be extremely helpful in keeping your expenditure low without compromising on the maintenance of your car. You can make a list of these car insurance tips in order to remember them at the right time.
We understand how precious and memorable a car buying experience can be. However, accidents do not come with an invitation. At that juncture, having your car insured ensures that your car is safe. After all, you have paid a hefty amount. With the right car insurance, you can start giving reasonable premiums and avail plenty of benefits. Paying for premiums must not be a challenging task with all the suggestions we have provided you that would help you find the best one online and ultimately make an ideal choice. Car insurance premiums go a long way in ensuring you enjoy a trouble-free car experience. Rest assured, with one best in hand, you can drive to hills or beaches, your car is safe. Get set, get ready!
Just like Car, Read Tips To Get The Best Quote For Bike Insurance.