Typical Ways to Reduce Your Car Insurance Premium

Save big bucks by shopping around for cheap car insurance. Our analysis shows a big gap between the most expensive and cheapest policies in India. However, people often pay according to the amount of cover that they get. Other than shopping around, there are ways to get cheap auto insurance.

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Following are top 10 ways to get cheap car/auto insurance:

• Car insurance premium increases depending on the number of luxury gadgets you add like night vision, ultrasound sensors, etc.
• Facilities like immediate assistance from the insurer in case of car breakdown will add to your premium cost.
• The amount of voluntary excess you choose to pay also determines the cost of your policy to some extent. This refers to the amount that you will have to pay in case of an accident. Thus, higher the voluntary excess, the lower will be the insurance premium.
• Insurance for loss of personal belongings, car locks, etc. adds to the premium cost.
• A No Claim Bonus can also fetch you some good amount of discount. These discounts increase as the NCB years increase. Obviously, there is an upper limit to NCB.
• Nominating drivers or restricting the use of your car to drivers of certain age will also help you reduce the premium.
• The safety and anti-theft features your car has like airbags, antilock brakes and immobilizers should help you get a better premium because these are used for safety reasons.
• Insurance companies may offer discounts to the insured owning more than one policy with the same company.
• Avoid lapses of the policy, it might disqualify the discounts you otherwise have benefited from.
• If you have a garage, then start sheltering the car in the garage, such vehicles attract discount.

The job is not yet over, you might have managed to get a good reduced premium this year but what happens next year? Well, just remember few things and observe it as measures to control your insurance premiums. Let us list them below.

• First and foremost drive safe!
• If you are changing your vehicle, consider a more traditional car. It will not only save you a fortune on fuel but a ton on your insurance premiums!
• Don’t add younger or inexperienced drivers to your insurance, it may let your premiums go sky high!