car insurance premium : We can deduct the car insurance premium if we keep some things in mind while taking or renewing the policy and before that.
Choosing a policy (car insurance premium) after careful investigation according to your needs will cost less money in the form of premium.
Car Insurance: There are many types of expenses every year on keeping a car or any other vehicle. Insurance expenses are also included in these expenses. Insurance is very important. This not only compensates for the damage caused to the vehicle in an accident etc., but the insurance company also gives an insurance claim to that person or dependents in case of injury or death due to the vehicle.
Care should be taken while buying and renewing a car insurance policy. It should not happen that due to our carelessness, we choose the wrong policy, due to which we have to pay more premium and get less facilities. Let us know by taking care of what factors we can reduce the insurance policy premium of the car.
Compare first, then decide
Car insurance will put less burden on your pocket only if you do a thorough investigation before taking an insurance policy. You don’t have to go anywhere for this. There are many such platforms on the Internet nowadays, which do a comparative study of the insurance policies of different companies. These are helpful in choosing the cheapest plan according to your needs. With their help, you can buy a good policy at a low price. You can also take an insurance policy online nowadays.
Pay according to coverage
Car insurance consists of two parts. First third party damage and second self damage. According to the Motor Vehicle Act, third party cover should be in the car insurance at all times. You can choose the self insurance cover as per your convenience. Self cover covers various types of damages caused to the vehicle and the driver due to accident, loss due to fire and waterlogging etc.
This means that if there is a loss to the car and the car owner in the above circumstances, then the insurance company will compensate the loss. Self insurance cover should be chosen carefully. It has many add ons. This is necessary because the more add-ons you have in your policy, the higher the premium you will have to pay. For example, engine protection is added to compensate for engine damage caused by waterlogging. If you do not have this problem here, then do not take this add-on. This will reduce your premium.
Know how much you drive your car
A new type of policy has started in the Indian auto sector. Under this, premium has to be paid on the basis of how many kilometers your car travels. You get all the facilities under the policy. In such a situation, if you drive less car then you can buy such a policy. However, only a few insurance companies have been allowed this by IRDAI.
Avoid unnecessary modifications
It is necessary to inform the insurance company about any change in the car. If you make changes without notice, your insurance claim may be canceled later. Changes include changing the car from petrol to CNG, interior changes or wheel changes etc. Due to such changes, your insurance premium amount also increases by the insurance company. Therefore, make changes to the car only when absolutely necessary, so that you do not have to pay high premiums.
Do not claim small loss, take advantage of NCB
If we do not take any claim for the whole year, then we get No-Claim Bonus (NCB). This gives a discount of 20 to 50 percent in the insurance policy for the next year. If you have taken advantage of NCB for many years and are thinking of buying a new car, then NCB can be transferred. Therefore, in the loss caused to the vehicle, you should compare the money out of your pocket and the profit from NCB. Also, as far as possible, do not claim for minor damages to the vehicle, so that you can get the benefit of NCB and the premium for the next policy is cheaper.
