How to get Best Car Insurance: If you have bought a car or are going to buy a car in future, then you can save a lot in insurance premium by these methods..
Despite rising inflation, sales of cars and other vehicles have increased during the festive season in India. In September, the sale of passenger vehicles across the country has been 3.5 lakh units. Due to the great offers, people bought a lot of vehicles. After buying a car, now it is the turn of maintenance and insurance for which you have to spend a lot of money. In such a situation, if you want to avoid the expenses related to insurance, then this news is for you.
Vehicle insurance is considered legally mandatory in India under the Motor Vehicle Act. If you have bought a car this festive season or are planning to buy a car in future, you can save a lot on insurance premium by adopting some methods.
Pay as much premium as you drive
Insurance Regulatory and Development Authority of India has come out with a new concept ‘Pay As You Drive’ (PAYD). Under this, the price or premium of the insurance will be decided according to the number of vehicles that run. Pay as you drive policy is beneficial for those who drive less. Insurance premium has to be paid more. With the help of this, they also have to pay less insurance premium.
Drive carefully, premium will be less
If you drive your vehicle carefully and follow the traffic rules, you end up paying a lesser premium as compared to the rest of the person. The name of this model is ‘pay-how-you-drive’. In this, the driving habits of the customers taking insurance are tracked.
Owners of more than one car take floater policy
Nowadays more than one car is found in all the houses. If you have more than one car in your house, then you do not need to take separate insurance for each car. You can opt for one family floater plan, where all your vehicles will be covered under a single insurance plan. This will cost you less insurance premium.
Deductibles will be a big advantage
Deductibles in motor insurance mean voluntary deductibles. If the policyholder opts for a higher deductible, then he has to pay a lower premium to you. However, this option should be used with caution.
