To save money on car insurance, here are some effective strategies:
Increase Your Deductible: Opting for a higher voluntary deductible can lower your premium significantly. For example, choosing a ₹5,000 deductible may reduce your premium by about 25%, while a ₹15,000 deductible can save up to 35%. Just ensure you can afford to pay this deductible if you need to file a claim.
Utilize No Claim Bonus (NCB): Maintaining a claim-free record rewards you with discounts that can grow up to 50% over five years. Adding NCB protection allows you to retain your discount even if you make a small claim.
Install Anti-Theft Devices: Fitting your vehicle with approved anti-theft devices such as immobilizers or GPS trackers can earn you a 2.5% discount on the own damage premium.
Choose Add-Ons Wisely: Avoid unnecessary add-ons that increase your premium. Retain essential ones like zero depreciation if your car is new but avoid extras that you may not need based on your driving conditions.
Avoid Small Claims: Pay for minor repairs out-of-pocket to maintain your No Claim Bonus and avoid premium hikes.
Compare Quotes Regularly: Different insurers price risk differently. Shopping around at least annually can let you find better rates for the same coverage.
Maintain a Good Driving Record: Safe driving with no traffic violations or accidents can make you eligible for safe driver discounts and loyalty benefits.
Limit Car Use When Possible: Reducing unnecessary driving or using carpooling can sometimes reduce premiums, especially with usage-based insurance plans.
By following these practical tips, drivers can significantly reduce their car insurance costs while maintaining adequate coverage and protection
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