Every product or service costs money and requires you to plan your expenses according to your income capacity. However, it would help if you prioritised your safety and convenience before investing in them. For example, buying a four-wheeler is necessary for your family as it offers comfort and allows them to roam freely.
Along with that, you must also consider buying car insurance to guarantee your safety along with your vehicle. It is mandatory according to Indian law and attracts penalties for not owning or renewing it on time. You also file claims from the company if an incident has caused injury or death of the policyholder.
Avoid unnecessary claims
File a claim for car insurance online only if necessary. The easiest way to reduce your premium is to restrict filing claims as much as possible. Insurance companies reward their customers with a No Claim Bonus for every claim-free year. The first year makes you eligible for a discount of 10% to 20% on insurance premiums up to a limit of 50%.
Minor damages
As your vehicle grows older, it becomes accustomed to wear and tear. You get a lower 4-wheeler insurance premium by paying for minor damages and repairs from your pocket. It works out to be affordable in the long run. You save money on your insurance premium and utilise the accumulated NCB for discounts.
Security system installation
There are numerous advantages of installing a security system in your car. Firstly, you receive alerts on mishandlings by strangers. Secondly, the loud siren scares away potential thieves and reduce the chances of robbery. Thirdly, your online car insurance provider appreciates your initiative of installing an anti-theft device since it reduces their risk of paying for car theft and reduces the premium.
Avoid unnecessary frills
One of the best methods to reduce your car insurance policy premium is to avoid unnecessary frills, including installing alloy wheels, ultrasonic sensors, automotive night vision, etc. However, all these embellishments increase the premium since the vehicle cost increases. Additionally, in the case of theft, your insurance provider pays a high compensation amount.
Join associations
Car owners who are road safety associations’ members such as the Automobile Association of India (AAI) or Western Indian Automobile Association (WIAA) become priorities for several benefits. You receive a discount on car policy premium with the maximum NCB discount. Members of AAI and WIAA are considered safe drivers, which make them eligible for compensation.
How to save time?
In this hectic lifestyle, you hardly find the time to visit the general insurance company to enquire about their products and offerings. However, you buy car insurance online by visiting the company website, check features, inclusions, benefits, etc., and compare it with its competitors. Moreover, the website is operational 24×7, making it easier for you to buy the policy conveniently.
Other benefits
By buying the policy online, you save penalties and fines by doing a four-wheeler insurance renewal. The insurer sends you notifications for renewal on your registered email address and mobile number so that you pay it on time. In addition, you switch between providers while renewing it if you find a better deal.
Conclusion
Always carry your insurance documents with you while driving on Indian roads. Ensure the policy is valid and contains accurate details as the company checks them when filing for claims and compensation.
