How to Find the Cheapest Car Insurance Rates
Car insurance is a must but keep one thing in mind. It is not necessary that more the premium you pay better will be the coverage. Sometimes you can get a good deal. That is, you can get a cheap car insurance, which gives you several benefits. Here are some tips which will help you find cheap car insurance rates.
- Compare before buying: Enjoy Cheapest Car Insurance Rates
Do not opt for the first company that you come across. You must compare different company’s insurance policies before you take a call. The best thing that you can do is compare the prices and features of different car insurance policies offered by different companies online.
- Two crucial factors that you must check:
The first thing that you must check is the IDV amount. In case there is complete loss, then the IDV amount is what you will get. There have been cases where the agents in order to give low premium reduce this amount. Do not let this happen.
Also keep a watch on the no claims bonus. You must get the correct no claims bonus. If your claim amount is more than what you must get then your claim may not get processed.
- Know the difference between an insurance broker and insurance agents:
The insurance broker will have a license number. Brokers are given some money which does not depend on which company policy they are selling. They will therefore give you an idea about the insurance policies of different companies.
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An insurance agent on the other hand might be selling policy of just one or two companies. He will naturally push only those policies irrespective of whether they are giving you a good deal or not. For them their own benefit will naturally be more important.
- Combining policies:
If you bundle up your policies, then you have a better chance of getting a better deal. That is if you are thinking of buying a home insurance policy and a car insurance policy then try to get it from the same company. They will naturally give you a better package since you are buying two policies from them.
- Insure your co-passengers:
There are policies which have the provision to insure the driver as well the passengers that travel with you. This is normally in the form of personal accident insurance.
- The Deductible factor:
The deductible amount is the money that you pay when you submit a claim. If you increase your deductible amount then naturally your premium amount will get reduced. But you need to be prudent while selecting this value. If you end up paying too much from your pocket just to reduce the premium amount then what is the use of having a car insurance policy.
- Learn to let go:
One more way of getting Cheapest Car Insurance Rates is by learning to let go small claims. When you do this, your premium amount will get reduced.
- The bonus transfer factor:
Keep in mind that your car insurance is linked with you and not with your car. So when you think of buying a new car then the accumulated bonus will get transferred. So if you are selling the car even then make sure that you retain your car insurance policy.
- There is nothing free in this world:
Sometimes people get fooled with the words free insurance. But beware in the pursuit to get cheap car insurance you may land up in a soup. This free insurance thing is normally only for a limited period that is say a few months or so. These insurance policies cannot be customised as per your needs and they do not cover many important things.
- Install safety aids:
One more way of getting Cheapest Car Insurance Rates is by installing safety aids. If your car is equipped with anti-theft equipments like steering lock, car lock etc then your premium amount will get reduced.
- Installation of expensive gadgets can be a problem:
If you install expensive gadgets or make modifications to the car like you get alloy wheels or you do some exterior modifications, then there are chances that your premium amount will be increased.
- Be a part of the road safety organisation:
Road safety organisations like the Automobile Association of India promote road safety. If you are a member of such an organisation then it can help you get better auto insurance premiums.
- Policies lapses can be monetary loss to you:
Come what may you must not let your policy lapse. Because if your policy lapses then you are no longer eligible for the no claim bonus. So make sure that you renew the policy before it lapses.
- Drive safe:
Never drink and drive. Always drive safely. When you follow this you will find that eventually the premium amount will get reduced and the risk coverage will increase.
- Read the fine print:
Before you make your decision make sure that you read the fine print carefully. There are chances that there are hidden charges or some unnecessary clauses or unnecessary things that are being covered which will increase the premium amount.
Car insurance policies are a must. After all, they are giving risk coverage for you, your car and if you opt for the right policy, then it will also cover your co-passengers. But while buying the policy you need to make sure that you opt for the right policy which offers maximum risk coverage at low premium. You must compare the features of the policies of different companies. Opt for a no frill policy which gives you good risk coverage at low cost. But at the same time make sure that you do not fall prey to jargons like free policy as you will only end up in a trouble situation. Also you need to improve your own driving habits, get safety gadgets etc as these things will also help you get a good deal. You can easily compare and buy the best policy online.
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