Tips to Reduce Car Insurance Premium
There are several car insurance policies available in the market that will safeguard your car against the risk of unfortunate events. However, choosing the right policy is quite difficult, especially with the number of options available in the market.
For this purpose, car buyers often prefer one primary parameter that is car insurance premium. Premium is said to be the basic comparison factor when it comes to buying a policy. However, there are several other factors that make a particular policy differ from another. First time buyers often turn a blind eye to these additional parameters, for them we have a few tips to reduce car insurance premium.
1> Install Safety Features - Insurers are concerned with the safety and security of the car when it comes to drafting a car insurance in India. By installing safety devices like ABS, theft alarm, etc. you increase the security of the car and lower its risk towards unfortunate events. Thus, insurers reduce the premium accordingly.
2> Increase the Deductible Amount - Deductible is the upfront amount you pay to carry out the repairs. By raising the deductible amount, your insurers get a slack in payment of the reimbursement amount that the policy promises. Thus, they readily reduce the premium of the policy.
3> Avoid Additional Riders - Riders are the additional forms of covers that you can avail for the purpose of seeking extra protection. They include protection for non-metallic parts, glass panes, etc. By minimizing such add-on covers, you will be able to reduce the premium amount to be paid for the car insurance plan.
4> Know where you stay - The premium charged on the policy of a car bought in the city will differ than the one bought around the countryside. This is because there is a greater risk of accidents in the city as compared to the rural areas. So your car premium will vary as per it.