Simple tricks to cut down on car insurance premiums

Some buy a four-wheeler out of necessity while others for a luxury purpose. But nobody has an option when it comes to car insurance. Everyone needs to hold a policy according to the Motor Vehicle Act, 1988. At least, vehicle owners should have third-party cover, which is compulsory based on the law. People found violating the law are subject to punishment.
Buying the best car insurance policy is the wisest decision you make for your vehicle’s betterment. Remember, not all policies are expensive. You can buy the ideal policy without overshooting the budget. Substantially reduce the cost by implementing some handy tricks:
Third-party insurance for older vehicles
Car insurance is either comprehensive or third-party. While the latter covers only third-party liabilities and person, the comprehensive policy includes the cost of damages caused to your car and self besides third-party liabilities. Considering comprehensive policy offers broad coverage, the premiums are towards the higher side. Therefore, reduce the overall premium by opting for third-party insurance.
But skip the comprehensive cover only if your car is ancient. This is because there is not much difference between the insurance coverage amount and the premium.
Install anti-theft devices
The cost of online car insurance gets decided based on the liability that a vehicle poses to the insurer. The higher the liability, the higher will be the premium. However, you can lower the premiums by installing anti-theft devices in your car. Instruments such as gear lock, anti-theft alarm, steering lock, etc., reduces the chances of the vehicle getting stolen. This way, the liability of the insurer reduces and thereby offer a lower insurance premium.
Avoid unnecessary modifications
Many modify their vehicle to boost the features. With the added aspects, the value of the car also increases. This increases the insurance coverage and premiums. So, if you want affordable car policy premium, avoid making unnecessary modifications.
Compare the premiums
Almost every insurance company in India offer ideal car insurance claim. With all companies providing impressive coverage at competitive rates, it can be challenging to choose between the best insurance. For finding the perfect policy for your four-wheeler, compare the insurance offered based on the coverages, benefits, premiums, and services. The comparison helps you find the ideal plan without spending a fortune. Hence, compare for finding the ideal one.
Raise voluntary deductibles
Almost all car insurance online comes with deductibles. It is the claim amount share that the vehicle owner agrees to pay if the claim gets raised due to the damages caused to their car. When you agree to pay a share of the claim amount, you reduce the liability of the insurer. Hence, the insurer offers lower premiums. If you want to reduce the premiums further, raise the voluntary deductibles. But make sure to consider the deductible amount, which you can pay at the time of claim settlement.
Avoid policy lapses
If you want to always protect your four-wheeler, you need to do a car insurance renewal. The lapse happens when you do not renew before the due date. A lapsed policy means carelessness and unreliability of the owner. Therefore, insurers charge higher premiums on such policies. So, to avoid a hefty amount on the premiums, compare the plans and renew before the expiry of the previous plan. You will need to know about prince pearl price in pakistan