How to buy cheap car protection policy?

Posted by sanjay on July 11th, 2016

Car insurance is one good thing that can save thousands of rupees, at times when you meet with an accident and it’s critically damaged or in case of theft. Despite these benefits, we may hesitate to get car insurance, due to higher premiums. However, there are several ways in which you can get the cheapest car insurance deals if you take some simple efforts. The best way to get a cheap car insurance is to compare car insurance quotes of various insurance companies available at your place. While the lowest premium price is the most important element of finding the best car insurance, there are still several other factors that should be considered when making a decision.

Here are few tips to consider lowering the cost of your car insurance plan:

Correct Details

Most of the time people tend to hide an accident or wreckage. It is better to be true and share correct details with the company so that you can reduce your premiums by 10-30 per cent.

Make & Model

The premium of your car policy is directly rational to your car make and model. A sedan, SUV, RUV or TUV, sports edition will obviously have higher premium compared to hatchbacks or other simple car. It is advisable if your new drivers buy a second hand car, refine your driving skills and get cheap car insurance policies for your car as well.

Place of Living

One of the crucial points to decide upon the insurance policy is the place where person stays. A person living in riot prone or unsafe area or geographical difficult locations will obviously has to shred more money from his or her pockets compared to the one living in rather civilized and township area where possibility of burglary, stealing or riots is less. It will offer benefit of buying policy at cheaper rate.

No claim bonus

It’s a discount allowed as a percentage on the 'own damage premium' and the same is increased every year to the next level if a claim for damage to the vehicle is not done. You can accumulate upto 70% of discount and thus encase the value for cheap car insurance policy or claiming for higher damages in future ahead. It is advisable try not to claim your policy for petty scratches or dents instead save your no claim bonuses and use it for higher claims.

Automobile Association member

Being a member of Automobile Association will help you avail discount on your own damage premium. It’s applicable for private car and motorized two-wheeler policies.  A discount of around 5% is given on the own damage premium.

Safety Equipment

Adding safety equipment to your car like airbags, security alarms, Teflon coating etc. will help you reduce your car insurance premium at around 2-5% discount. Therefore, you should provide full and exact details about your vehicle along with safety measures adopted by you in order to avail discounts.

Online purchase

Comparing policies online in terms of benefits & features, discounts, payment procedure, hassle-free claims etc. can help your buy cheap car insurance policy to quite a great extent. Online policies are cheaper compared to traditional ways of buying patterns. The insurance company has a considerable saving on processing and distribution costs when the transaction is carried out online.