When it comes to own auto insurance, things can become more expensive. Car insurance plans have a way of increasing for different reasons over which the auto owners have no control. Below are few tips which will help to maintain car insurance affordable:
Check IDV
When auto owner is in a complete loss, it is the only source from where he can get maximum money. The insurance service provider can decrease these expenses in order to reduce premium.
Get Quotes
It is important to get car insurance quotes from different insurance service providers. Customers can obtain these quotes online as well. After getting these quotes, compare the rates and features and sort it out depending on the most affordable prices while still maintaining the correct coverage amount you require. Vehicles are covered based on their IDV value and this value is the ex-showroom rate minus registration, insurance and depreciation.
Benefit to Deal with Insurance Brokers
It is good to deal with the insurance brokers only because their information such as license number can be verified from the Insurance Regulatory and Development Authority (IRDA). As these insurance brokers in India are paid same amount irrespective of company’s policy they sell. Remember that agents offer biased opinion while selling policies.
Select the Annual Policy
After certain days of period, policyholders will get the final copy of policy documents which proves that they’re covered. By selecting a yearly car insurance policy, it can extend your savings on motor insurance. Buying a yearly policy rather than a six month plan offers a rate which cannot switch for one year.
Keep Credit Clean
It is very important to maintain good credit history because various insurance companies in India are reviewing your credit history and basing your plan on what is found.
Accident Insurance
Get an additional personal accident insurance for the passengers who are traveling with auto owner. It helps in covering your vehicle along with the people driving in that car.
Offer Home or Auto Policies
In case buyers already have a home or auto insurance with the same insurer, they may feel lucky as insurers offer a discount in case they carry their home or auto insurance plan with the same insurance company.
