10 ways to save money while purchasing car Insurance
- Spot-fixing: Chandila was in touch with four sets of bookies, says Delhi Police
- Chinese Premier Li Keqiang arrives, to hold talks with PM on boundary, water issues
- IPL 2013: Delhi Daredevils crash to defeat, finish last
- Jaganmohan's wife attacks CBI, accuses it of working at Congress behest
- Blast accused death: UP govt seeks CBI probe, FIR against 42 persons
Increasing traffic and the rising costs of car repair indicate that there is no avoiding auto insurance. Unless your car sits undisturbed in the garage, do not make the mistake of not insuring it.
If a comprehensive policy does not fit your current budget, get at least third party, fire and theft cover. Cash-strapped individuals should consider insurance costs before even buying a vehicle. Yet, for most others, the car comes first. Are there any possibilities to save money regardless of the car model? Of course there are. Here are my top tips:
Go Shopping: There is no alternative to shopping around for car insurance policies. Seek quotes from different insurance companies. The costs could vary even for similar coverage amounts.
A Higher Deductible: The deductible is the amount that you pay out of your own pocket for repairs following damage to your car; your insurance starts paying out thereafter. Increasing your deductible could lead to a proportionate decrease in your premiums. Make sure to choose an amount that you can afford to pay in case you need to file a claim.
No Excess Coverage: Car insurance has its own list of frills. Things like roadside assistance and loan payoff sound good on paper but will inflate your premiums. Do not scrimp on these benefits if you have the money, but scrape away this excess coverage if you are on a tight budget. If you plan to insure an old car whose value has depreciated, comprehensive and collision insurance may not be financially worthwhile.
Be a Good Driver: A good driving record can work wonders when it comes to lowering your car insurance premiums. Even little things like speeding tickets can push up your premiums. Drive safely to cut costs.
Seek Discounts: Insurers offer a host of discounts on car insurance. You will find everything from group discounts to low mileage discounts. Buy your home and car insurance from the same company to avail of discounted rates. If you have more than one vehicle, buy insurance for all of them from the same company. Fitting your car with anti-theft devices would also fetch you discounts on your premiums.
- Former Ranji player among 3 more held
- Rajasthan Royals to file FIR against tainted trio
- If found guilty, BCCI to ask ICC to erase Sreesanth records
- Top cops among 42 named in death of blast accused
- PM takes tough line on incursion issue
- Security forces blame Maoists, villagers say CoBRA man was killed in ‘friendly fire’