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Posted by Royal Sundaram on 08 Mar 2016
If you own a car, having a car insurance policy is warranted, given the fact that it is mandatory. Whether you have a comprehensive policy or not, every measure is taken to ensure that the other person involved in an accident would suffer no loss. The question then arises that if you are willing to purchase an insurance that would undoubtedly offer security to the other person involved, then why not do it for yourselves?
The answer is simple – high premium. Most people tend to purchase the basic policies, which offers nothing more than third-party cover. However, why restrict to just third-party insurance, when availing a comprehensive policy can be easy on your pocket too. Following ways will show you how:
1. Many cars come with safety measures that are unique to them. There is a discount available in the policy for cars installed with Anti Theft devices approved by the ARAI (Automobile Research Association of India). Getting these cars insured would definitely take less than those devoid of such safety features.
2. Another best way to reduce your car insurance premium is to make sure that you have a clean record where driving is concerned. If you are prone to accidents, you are bound to pay a higher premium as compared to others.
3. Being a valid member of a recognized Automobile Association, will provide a discount on the Own Damage portion of the premium.
4. Opting for bearing a part of the claim (Upto Rs.15, 000) will provide a discount on the Own Damage portion of your premium.
5. Comparing policies provided by various providers is another way to measure how much premium you would have to pay with each policy.
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