How to Save Money on Car Insurance in India?

As the economy is opening up in India, it has become almost a necessity to have a vehicle/car for transportation. While many people may yet rely on taxis, trains, buses, or any other public means of transport a large segment of the population and an increasing population of youngsters are buying vehicles.

It is given without saying that people require car insurance and most often will buy this insurance policy for their vehicles or for their two-wheelers.
Also known as vehicle insurance or motor insurance, car insurance is the coverage or insurance that is taken for cars, commercial vehicles and other road vehicles. The main aim of these policies is to provide financial protection against bodily injuries and physical injuries to a person, as a result of traffic collisions or even against liability. This protection may also extend to cover the risk of theft and damage of the vehicle as a result of other means, other than traffic collisions.

With the plethora of car insurance policy options available in today’s times, a customer may very not know how they can save money while buying their insurance policies. They may be guided by the most popular policy which everyone is using or what their friends or family members have told them, but there are a number of factors that need to be kept in mind to save money while buying your policy.

Some of these include comparing insurance policies of different companies. You can find a number of varying quotes, some cheaper than the other. Another thing to keep in mind is to opt for that insurance policy which has higher deductibles. These deductibles are the amounts that you will have to pay in case you meet with an accident with your vehicle.

Very often, there are a number of package policies and discounts that are offered. Many insurers offer these discounts from time to time. It is always wise to buy your policy during this time. For instance if you buy a life insurance policy with the company, you may get a discount for your car insurance.

Discounts may be seasonal and vary from time to time. There may also be a number of holiday discounts. It is always a wise option to buy your policy when there are discounts available.
It is easy to buy car insurance online in today’s times with a number of insurance providers offering their services online with various online payment options such as Net Banking, through credit card or debit card, etc. People can also compare different policies from different companies all on the same platform to see which one offers a better rate and which one would suit them best.

There are also car insurance premium calculators available online where people can find out the premium policies of either used or new cars with just a few clicks of the mouse. A person can get a variation of premium rates from different car insurance dealers and find one suitable to their requirement. Thus, by comparing the premium policies from different insurance providers it can help the person to find a beneficial policy for their car.

Some people may also be using used cars and there are a number of online calculators such as the premium calculator for used cars which can help to give a customer an economically efficient deal as per their requirement.

Every company uses a different method to calculate its premium. Usually a person is required to fill in details such as vehicle model, year of manufacture, state of registration of car, vehicle manufacturer, etc. with the person’s own details as well.