Every year we see the spurge in the car insurance rates. For new drivers the rate cards are set even higher. If you are looking forward to buy car insurance, here we present to you some useful tips that will help in getting sound deductions on your car insurance prices.
Learn driving from some established driving school
This one is for the inexperienced drivers or those who are comparatively new to the driving arena. Before you apply for car insurance, make sure that you have the driving school certificate from some learned institute. You can request the driving school management to help you in securing a cheaper policy as they may already have good contacts in the field.
Driving schools provide several advanced and defensive courses that can help you in gaining an edge over your inexperience with driving.
Many companies out there offering buy now pay later car insurance, if you have a training certificate from a reputed driving school.
Entitlement to “No-Claim” Bonus
Safe drivers are always rewarded by the insurance companies by providing them with adequate bonus. The condition is that if you didn’t make any claims on your last year’s car insurance policy- you are considered as responsible and safe! Thereby, the companies provide “no-claims” bonus i.e. NCB (popularly known).
The trick is to avoid getting minor claims during the year so that at the end of the policy you can avail its benefits.
It will be better if you are aiming to claim “No claims” bonus that you should clarify all the aspects regarding it at the time of buying. Different companies may have different regulations and amount of bonus that they sanction. Usually it is the percentage of the policy amount but it is always better to keep the written documents in possession.
Do not go for elite model of vehicles
In fact if wouldn’t be a bad idea to buy a small end vehicle that suffices your purpose. It gives an obvious impression that if you are buying an expensive car with all the modern advancements, you can afford to buy its insurance too. Especially in the case of premium sports models or SUVs it is evident that the vehicle may cause troubles with its speed and smoothness on the roads.
If you are seeking cheaper car insurance policy, it is advised that you invest in a decent vehicle that can help you in attaining maximum utilization.
Look for discounts in your state policies
Often the state governments offer discounts to their citizens under various schemes and classifications. For example there may be some student discount, some salary criterion eligibility for discount, some age criterion or special cases too.
You need to check with the insurance regulatory authority in your area and find out the discount opportunities for citizens. These are very helpful at times. For example- if we buy separate policy for every member in family- it may have different cost while if we buy a combined policy such as father-son or father-daughter etc. -such policies save on our total budget. However that one combined policy will be costlier than the single one but the total amount that we will pay towards the policy premiums get reduced. Especially if the kids are mentioned in one of the parents’ policy it is the most beneficial.
Compare and buy
People often think of buying the policies that are most widely publicized. The impression which is created through the advertisement and marketing gets majorly imprinted on our minds. However it is not necessary that the car insurance policy which is easily available is going to be the best for “you”. Therefore, you need to compare the policies before you make the decision of buying them.
It is simple to compare various policies in one go through online comparison tools that are easily available. One can compare, analyze and decide on which policy they want to buy.
Let us say if you like one policy but do not want a few coverage points in it- you can consider discussing them with the company representatives. They may even offer discount on removing those coverage points from your policy as it reduces their own risk too.
Conclusion
These simple tips are the smart hacks that can help in reducing the cost of car insurance. Being vigilant and attaining the right kind of knowledge is the key to ensure that you get the best car insurance policy in the most economic prices.
