How can you save by keeping a few things in mind while renewing car insurance? Apart from this, keeping in view the condition of the car, do update the plan. Many times it takes more money to renew from outside. If possible, renew it online by yourself.
New Delhi . Insurance cannot drive any vehicle. It is very important for the safety of the people as well as for the vehicles. Very few people pay attention to this after taking an insurance policy while buying a car. While getting it renewed again, most people get insurance from third party or any local company to avoid challan. By doing so, they may suffer heavy losses in case of an accident. Not only this, many times people even die due to not getting treatment at the right time.
To avoid these problems while making an insurance claim, it is important to pay attention to mainly five things while getting it renewed. Which will help you in choosing the right policy.
How to avoid extra charge
Most people get it renewed only after the insurance policy expires. In such a situation, they may have to pay a fine of up to Rs 2000 as an extra charge. Most of the people take online insurance policy by going to petrol pump or cyber cafe. In such a situation, they do not have good knowledge about the company and about the plan. If you are also going to renew, then you can do it yourself sitting at home with the help of a smartphone. Not only this, you will also be saved from extra charges.
Upgrade plan considering the condition of the vehicle
Year by year the price of the vehicle keeps decreasing. Not only this, according to the time, gradually defects also start coming in it. It is very important to keep this in mind. Actually, keeping these things in mind while taking an insurance plan, you can save extra expenses on the vehicle. This also increases the value of the vehicle. Keep upgrading the insurance plan as per the time. However, you may have to pay more money as premium for this.
Insured Declared Value (IDV)
Information about the cost of the vehicle is available from the insurance policy itself. There are some companies that charge very low prices for the vehicles. Not only this, they refuse to give claims even in case of natural calamity and vehicle theft. That’s why it is important to pay attention to the IDV ie Insured Declared Value while renewing the insurance. The amount you have to pay for insurance completely depends on the insured declared value.
20 – 50% off
At the time of getting insurance, NCB i.e. No Claim Bonus is issued by the company. According to the old policy, if you have not taken any kind of claim, then you can get a discount of 20 to 50% at the time of renewal. Very few people pay attention to this. If you are getting insurance done not by yourself but by someone else, then definitely inquire about NCB from them. In such a situation, you will be able to save thousands of rupees very easily.
Don’t know about the insurance company
There are many insurance companies who harass people while giving claims. Many times these companies flatly refuse to give the claim. In such a situation, you can get rid of it by gathering proper information about the company at the time of getting insurance. Also do check out Garage Network Cashless. Under the cashless facility, after an accident, you can get the vehicle repaired from anywhere, later the insurance company returns all this money to you.
