Insurance

Ways To Your Manage Car Insurance Premium

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No claim bonus:- How better incentive you can do, as an owner, Everyone wants to drive their car without meeting with an accident? This type is awarded to the owner of the vehicle for ‘No Claims’ in the preceding policy years.The value of the discount depends upon the how much insurance claims you have made in last year.Avoid Policy Lapses are Renew your policy in a correct time by paying premium according to your insurance agent. Insurance companies usually levy a fine on insurance renewals made after the due date, and it might reflect on your premium amount. In case the delay is beyond the grace period, you may lose out on the discount as well,without using any claims in last year.Policy lapse involves the risk of driving your car illegally on the road that can result in huge fines. In case of an accident, you may have to pay for the damages out of your own money. These incidents can also lead to higher policy premiums once you reinstate your car’s insurance.Pick Your Riders Diligently are Insurance companies offer a number of add-on’s or riders that cover the minutest of the problems that you, as a car owner, may suffer.

“These range from arranging for duplicate keys, and fuel delivery to spare parts replacement and engine protector cover. Such add-on’s, normally are not covered under the policy but can be bought at an additional price. Avoid selecting blindly; choose and pay only the add-on’s that you really need.“

If your car has the more of security features like anti-theft tools, engine cut-off systems etc., you are in a great position to negotiate a competitive price for the premiums.So it is better to prefer to buy a car with latest features.Voluntary Deductibles are Avoid claiming for small and tiny damages like scratches, small dents, etc. as availing attractive discounts on the premium is a more valuable choice than opting for small claims.

Finally, your driving history is considered to be one of the top factors that any insurance company which they will consider it as top priority; it can have a huge impact on your insurance premiums. Typically, insurance companies look for records of violations during the last five years. Hence, drive smart and pay less!

Drive Safely A car owner have to pay amount as Voluntary deductible in the event of a claim. While compulsory deductible is as per the policy terms, voluntary deductible can be fixed during policy renewals. The higher the deductible amount, the lower will be the premium and it may reverse

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