Car owners think that buying or purchasing car insurance online is a tedious job and hence resort back to the traditional methods of purchasing insurance.
But the truth is that if certain rules are followed and purchased carefully, you can save a handful of money on the premium and if lucky, may also land up getting some additional benefits at the same price. Given below are some important tips for getting your car insurance renewed online in a profitable manner.
Shop for different online car insurance policies
Often, car owners avoid looking around for other plans before the expiry of the current policy to avoid the hassles involved.But comparing various plans from different insurance companies online before car insurance renewal often helps you find better options than your existing policy and you may land up getting a much better deal. The best practice is to get quotes from various car insurance providers using the car insurance calculators and comparing them online. Online aggregators like Policybachat are very useful for comparison of online car insurance. You can log onto www.policybachat.com to avail the car insurance calculator facility.
Be aware of policy features and hidden clauses
You should always be well aware of the features of the online car insurance policy before purchasing it or before car insurance renewal. It is advisable to read the fine prints and all the clauses thoroughly. Go through each detail and understand their implications to avoid any kind of hassles in the long run.
Calculate your car's value before purchasing online car insurance.
Car owners are always advised to calculate the depreciated value of the car before car insurance renewal so that you can easily coordinate with your insurance provider about the premium and in turn save money on your car insurance India. Knowing the market value of your car before purchasing or renewing online car insurance is always a wise move.
Get the benefit of No-Claim Bonus
In India, you are rewarded by your insurance provider for not registering any claims under the existing online car insurance policy.
If you have not made any claim in the previous year, do not forget to avail the No-claim bonus after your policy matures, at the time of car insurance renewal. This can help you get a huge discount on the new policy which can go up to around 50% throughout the year.
Go for higher deductibles
Voluntary Deductible is the amount an online car insurance policyholder needs to pay from the pocket at the time of a claim. Insurance companies always encourage you to take up higher deductibles so that you do not have to pay high premiums. But this depends on a lot of factors. If you feel that you are a brilliant driver and your commute and the place where you park your car are safe, then it is wise to take higher deductibles as chances of claims are less. However, if the conditions are the reverse and the chances of making claims are more, then it is wise to balance the deductible with the premium accordingly while car insurance renewal or purchase.