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4 Smart Tips to Lower Your Car Insurance Premium

Posted by Royal Sundaram on 15 Oct 2019


Buying a car is an expensive investment. In India, car prices are increasing day by day and so its maintenance cost. In addition to this, car insurance premiums are also increasing. Therefore, if you are planning to buy a car insurance for your vehicle, then there are several factors that you need to consider so that you can reap the maximum benefits and reduce your car insurance premium. So, here we take a look at some of the things that will help you lower your car insurance premium –


  • No-claim bonus – No claim bonus is basically a reward that is given to the policyholder for not making any claims in the previous years. In simple terms, if you do not make any claim for minor accidents in the last few years under the policy term, then you will receive a no-claim bonus. This bonus can go as high as 50%, depending on company to company. Thus, one must avoid making claims for small accidents as this will help you reduce your car insurance premium.
  • Safety/anti-theft devices – This is one of the most important factors that helps you save money on your car insurance premium. If your car has got anti-theft features such as GPS tracking device, then the risk of your car being stolen decreases. Thus, while calculating your insurance premium, an insurance company considers all the efforts you’ve put in to safeguard your vehicle.
  • Policy Lapse – You must always renew your policy on time and try to avoid lapsing it. There are several insurance companies that charge higher premiums if you miss the renewal date of your policy. Thus, one must avoid policy lapse and renew it on time. Otherwise, your insurance company will disqualify all the benefits and discounts that you might be receiving at the time of policy renewal.
  • Driving record – This is yet another important factor that one must consider in order to reduce their car insurance premium. If the vehicle owner is a rash driver, alcoholic or has got any accident record, police record, then the insurer will charge them higher insurance premium as compared to those with a clean driving record.


On the whole, these are the few things that you can keep clear so as to avoid the increase in premium. Besides, if you are looking to buy a car insurance policy online, then go for Royal Sundaram; we offer comprehensive car insurance plans at affordable prices.

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