Do you want to buy affordable vehicle insurance in India? The first thing you should know when buying insurance is that the amount of car insurance premium you pay is determined by various factors. Secondly, there are several valuable tips that you can adopt when searching for affordable vehicle insurance premiums. Also, you can calculate your likely car insurance premium with an online premium calculator.
This post reveals factors that can significantly influence your premium amount. We also provide tips on finding comparably cheaper premiums and what is needed to calculate your Car Insurance premium online.
Some of the key factors that can greatly determine how much premium you pay when purchasing vehicle insurance include:
However, suppose you have a record of accidents, incurring traffic tickets, DUIs, and other traffic infractions. In that case, your insurer might require you to pay a high premium in either purchasing a new insurance policy or renewing an old one.
It is also worth noting that add-ons like emergency roadside assistance or zero depreciation cover would cause an increase in the price of your vehicle insurance premium. You can request these add-on benefits before you buy any insurance policy, such as Acko car insurance renewal, or at the point of purchasing a new insurance plan for your car.
Some useful tips for finding low car insurance premium prices include:
- Get as many vehicle insurance quotes from as many insurers as possible.
- Always compare the insurance coverage features and premium prices offered by different insurance companies.
- Find out the IDV on offer, which is the optimal amount of money due to you in the event of a complete loss of the vehicle. Some insurers lower the IDV to reduce the premium price.
- Consider the no-claims bonus offered by insurance companies. Note that you may be unable to file a claim for minor repairs if the no-claim bonus mentioned by the provider is high.
- Buy your car insurance directly from an insurance broker rather than an insurance agent. The former sells policies of numerous insurance companies, while the latter only sells policies of one insurer. You will get the chance to compare policies when buying policies from a broker.
You can find cheap premium pricing by using an online insurance premium calculator. However, to get the right premium price, you will need to submit some vital information such as:
- Car details- Make, model, fuel type, and year of manufacture.
- Show-room price of your car.
- Name of the city where your car was registered.
- Year of purchase of your car.
- Claim history stating if you have filed a claim on your car insurance in the previous year.
In conclusion
As you can see, you can find affordable vehicle insurance premium pricing in India. However, you should know that the premium you pay is greatly influenced by the value of your vehicle, your purpose of using the car, the type of policy you purchase, the inclusion of add-on benefits, and so on. Make sure to stick with the tips highlighted in this post and not misinform your insurer with false information, as this can lead to your claim being denied.