6 Tips To Save On Car Insurance Online Renewal

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21 Jul 6 Tips To Save On Car Insurance Online Renewal

Be it an old car or new, if you want to to drive it on Indian roads you need to have a car insurance policy. There is no escape and the task doesn’t end with buying car insurance online as one has to renew  car insurance policy every year to keep it valid and to enjoy continuous coverage that it offers. Car insurance online renewal is a fairly easy process and it also provides policyholders with an opportunity to save on their car insurance premiums. If you have a motor insurance policy, you should try and implement the ways to save on your motor insurance costs. Here are 6 proven tips to reduce premium on your car insurance online renewal.

Compare Car Insurance Online Policies

Internet is flooded with information about everything under the sun, car insurance is no exception. Car-owners can research on internet about the available policies and compare car insurance online. Since you don’t necessarily have to stick to the same motor insurance policy for years you can always choose a new plan to go with on renewal after making a careful and detailed comparison.

On insurance comparison portals like GIBL.IN you get the facility of not only comparing policies on one platform but you can also get multiple motor insurance quotes for free to pick the best plan as per your budget. By steering clear of costly plans with unwanted features and availing a cost-effective cover you can save significantly on your car insurance online renewal.

Know The Present Value of Your Car

If you are aware of the value of your car you can save god amount of money on your car insurance online renewal. You can calculate the depreciation cost by deducting the present value from the original value. The depreciated value of your car would help you get a new car insurance online for a much-reduced premium.

Grab The No Claim Bonus

All car insuers in india reward their  customers with No Claim Bonus for not making any claim during a specific policy year. The reward comes in form a discount on renewal premium and it increases with each passing year up to 50% after 5 claim free years. If you have been maintaining a good driving record and have not made any claim so far you should accumulate NCB to get a hefty discount on your car insurance online renewal. This is a great way of saving on motor insurance costs.

Opt For Deductibles

While renewing car insurance online, you can also opt for deductibles to keep the premiums low and save in the process. The deductible is an amount that policyholders voluntarily choose to reduce premium and to pay in time of a claim. So, you can pick the deductible amount that you are comfortable with and save significantly on your car insurance online renewal.

Install Anti-theft Devices

Motor insurance companies determine the premium after assessing the risk interspersion the policyholders. If your insurer consider you less risky they will work out less premium for your policy than the premium of the policies of those they consider as more prone to risks. Incorporating anti-theft devices in car is a good way of reducing risk and thus reducing the premium on car insurance online renewal.

Become Member of Recognized Motor Associations

Members of some specific organizations enjoy 2.5% discount on the premium on their car insurance online renewal. These members are considered as safe drivers by car insurers and hence they are entitled to discount. You can also become member of such an association and be eligible for discount. This is a good way to minimize the premium and save on your car insurance online renewal.

Aside from these discounts, some car insurers also provide discount to car-owners of particular age-group and for those involved in some specific occupations as well. All these discounts also help car-owners save on their car insurance online renewal.

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