For a car owner, it is crucial to have an insurance policy of the car. It is also mandatory form legal point of view, and necessary too from the safety point of views. Though one can go for a third-party insurance plan, as per the experts a comprehensive plan is much better. Here one needs to note that the premium of this plan may be higher as it covers many things. Hence one should have some tips handy with the help of which the premium for the car can be reduced.
Usually, people trust the agents and hardly take any care for research and checks with other companies. But it would be better if you do some research on your end. It can helpyou save a hefty amount on insurance with the help of these little tips.
- Go for check of annual rates: The premium rates vary with the years of insurance. For this reason, it is necessary to check for the yearly rates. If a service provider offers more coverage for multiple years at a low price, it can be a viable option to go for. Many service providers prefer to have more than one-year insurance from the customer; and hence for a buyer, it can be an excellent opportunity to keep the premium low.
- Find the best-rated service provider:One can find many service providers in the market, but all of them are not good enough in terms of offering service and claims. Hence while going for the same, it is vital for one to check the rating of the service providers. One can also read the reviews offered by the previous customers of the concerned service providers. This can help one get an idea about service and go for the one which has got the highest rating.
- Have a perfect history and record: From the viewpoint of a service provider, this is an important aspect. One, who has made several claims in a year, may have to pay a higher premium due to his bad history. If one has not made any claim, he can have the benefit of no claim bonus. Plus, he may also get the premium lowered for the next year. For this reason, the best way here is to avoid making claims for small repairs.
- Check for deductibles to keep the premium low:While going for the renewal of premium, many service providers offer various deductibles. At this stage, one needs to select the deductibles prudently as they can help reduce the premium. If one does not choose the right deductibles, the same can lead to an increase in premium also. Here the best option is one should check the different options of deductible and go for only those which can help him get the maximum advantage for the same.
- Coverage:The coverage of insurance policy is primary to be checked. In many cases, it is noted that the buyers focus only on the premium amount; but at the same time, do not notice the reduction in coverage. In this regard, one needs to check the coverage first and then try other options with the help of which the premium can be reduced.
- Report your low usage:If due to a change in the profession or any other reason you have reduced the usage of your car, you must report the same to the service provider. This can help them know the lowered risk on your vehicle and in this way they can offer you insurance at a better premium rate. The reason for low usage may be due to change in location, job or profession as well as a new vehicle.
- Check for crash repairs: This is a crucial point to note for every service provider as well as the buyer of policy. You must check in case of repair you will get the original parts or identical. In some cases, the service providers drive the buyers for identical parts as they can be availed at a much lower rate than the original parts but on the other side, they cannot be as efficient as original parts and therefore the buyer may have to face repair issues frequently.
While buying The Insurance Plan, it is necessary to pay attention to this point else one may end up spending more in the form of high premium and frequent repair cost. It can also affect the physical condition of the vehicle.
- Find the perfect car first:Before planning to have reduced insurance premium, it is better to find the right car. In the case of premium cars, not only the premium is high but their cost of repairs as well as parts and maintenance is also much higher. Obviously, with such vehicles, the insurance premium goes up only. To avoid such hassles, one needs to get a car that suits his budget.
- Keep away from false claims: Many times to grab a buyer, the agents from different companies make false commitments and show plans. To avoid troubles later, one should verify the details from the website of the concerned company first and then only go for the payment of the policy. In case of any doubt, one can also compare the same with other service providers or agents and save his efforts and money as well as safeguard the interest rested in the insurance policy.
- Check for discounts:In some cases, the service providers also offer a discount to the buyers. It may be due to the profession or membership of some organization one can have a special rate of insurance. One should check if he is eligible for any such discounts as it can help him save a good amount as a part of the premium.
So, these are some of the essential points and tips that one needs to take care while going for insurance from any of the service providers from the market. It does not matter whether one buys the policy online or offline; these points need to be checked first.