Ways to lower your car insurance cost
It is a known fact that seldom anyone would want to pay more for a service than it is meant for. Similar is the case with car insurance. In India car insurance is a mandatory requirement for anyone who wishes to drive on the roads. Therefore, we have a robust market place where insurance providers cater to various needs of all and sundry.
So, when you have to anyway buy car insurance, it’s prudent to get the best value for the money you spend. Ideally, one must be adequately insured which means you must neither be under-insured or over-insured. Needless to say, a good deal of research is required to strike the perfect balance.
Below are some of the Ways to lower your car insurance cost
Be cognizant of the various deductibles you apply for, as deductible for various events and uncertainties are different. For lay men, deductibles are those amounts that the policy holder pays out of their pockets in the event of a claim. This does not imply that you must file a claim every now and then. One must be able to save a significant amount by raising the deductibles amount of their policy.
Have an impeccable credit report, as car insurance companies use your credit data to arrive at a credit score which will then determine your premium. The healthier your credit report the lower will be the premium.
Equip you car with safety mechanism such as theft alert system, air bags, anti-lock brakes and their ilk, this will help you avail additional deductions. These results in double benefit, the safety quotient of your car increases and your premium reduces without affecting the coverage.
Comparing rates and policies, both offline and online, will make sure that you get the best of the bargain. Therefore, shop around.
General Insurance Mantra 