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Tag: Car Insurance

Best Add-on for Car Insurance One Should Know

Buying a car is a pragmatic and emotional decision. Hence, keeping it safe and insured is a wise choice. Picture this: you are driving down a soaked path during heavy rain. The water level rises rapidly, and before you know it, your car gets stuck in the middle of a waterlogged road. The engine fails to start due to water intake. You might think your car insurance policy will protect you against the damages.

Well, the chances are your insurance will be inadequate for such specific conditions. While the law mandates you to insure personal and commercial vehicles before you hit the road, basic car insurance can only cover a limited extent. That is why investing in add-ons is necessary to ensure entire coverage.

How do you pick suitable covers when there are numerous options available? This article will list the best add-ons you can consider.

Add-ons for Car Insurance

An add-on provides additional coverage you can leverage with car insurance plans. These extra coverage benefits offer enhanced protection to the insured car. It enables you to improve your coverage benefits for damages excluded from a standard car insurance policy.

1. Zero Depreciation

Car insurance typically requires the insurer to cover the cost of replacing damaged parts after considering depreciation. It often results in you having to pay some of the price yourself.

However, you can sidestep these out-of-pocket expenses like the ones occurring due to accidents, water related damages or others. Zero depreciation car insurance cover allows you to claim the entire cost of replacing these parts without having to pay anything extra.

Standard car insurance policies typically only reimburse the depreciated value of the car parts. Hence, the depreciation waiver cover can come in handy and facilitate higher claim amounts.

2. Full Invoice Cover

Comprehensive insurance comes with a limitation; the maximum payout is tied to the Insured Declared Value (IDV), which typically depreciates each year. Simply put, your car is insured for a fraction of its original price as it ages.

Full Invoice or Return to Invoice cover is an optional safeguard. It becomes useful in the unfortunate event of a total loss or theft of your vehicle. It helps you recoup the entire amount you initially paid for the car.

Say the insurer deems the car beyond repair or a total loss. Then, Return to Invoice cover ensures that you, as the policyholder, receive the original invoice value of the vehicle rather than its depreciated worth.

3. No Claims Bonus Protection

A no claim bonus cover of NCB protection cover helps protect the insured against losing No Claim Bonus even if the claim is made in the policy period. If you haven’t made any claims for past few years, then your NCB value will be higher, which means you will get higher discounts in premium.

However, if you make a claim without having NCB protection cover, you will lose all the benefits accumulated over the years in terms of No Claim Bonus.

4. Engine Protector

The engine, often described as the heart of a car, is the powerhouse that drives its functionality. Surprisingly, standard car insurance plans do not protect this crucial component from non-accidental damages.

It is where an add-on cover comes into play! An engine protector cover offers insurance against various issues like oil spills or water damage. Investing in it if your vehicle is under five years old is highly recommended.

5. Roadside Assistance

Car breakdowns can occur unexpectedly. While they are not uncommon, it can be highly inconvenient when they happen in the middle of a city street. Of course, preventing breakdowns is not in your hands, but receiving quick assistance can make the situation better.

Roadside assistance cover can be valuable when traveling in remote areas where locating a mechanic can be tough. It acts as your safety net and informs your insurance company about the situation. Thus, they quickly arrange the necessary service and mechanic for you.

Choosing a roadside assistance cover ensures you have access to support for fixing wheels, arranging a tow for your car, and more. It saves you from being left stranded for extended periods without any assistance.

6. Key Protection

Losing car keys to theft or an unfortunate mishap is disheartening. A standard car insurance policy would not help you replace them. But a key protection cover can!

The key protection cover is an add-on that steps in when you find yourself in a tight spot. It covers all expenses for replacing lost, stolen, or damaged car keys. Additionally, it even takes care of the cost of repairing the lock set if your keys are compromised.

In short, it is like having a safeguard for those unexpected key-related emergencies. The cover has an upper limit on how many times you can claim it, so be careful about misplacing your keys.

7. Medical Expenses Cover

Car accidents can be distressing and traumatic, resulting in injuries demanding medical attention. Medical expenses add-on shine as a reassuring aspect to ensure peace of mind and cover associated costs up to a specified limit.

Medical expenses add-on cover ambulance and medical costs, including ambulance fees and emergency treatment, for all on board. It protects you and your passengers who sustained injuries from the car accident.

You can also leverage this cover if another vehicle injures you while walking. It is essential to note that the coverage extent varies from one policy to another and location.

8. Daily Cash Allowance

A car breakdown can leave you reliant on public transportation. However, commuting daily via buses or taxis can be expensive, especially during peak hours. But what if you can travel without worrying about the costs while your vehicle gets fixed?

The daily allowance cover is an extra option that gives you an allowance for your daily travel costs when your insured car is in the shop for repairs. It helps reimburse your expenses when renting a vehicle or using public transportation while your car is at the repair shop.

Remember that this coverage only applies when your car is being fixed at the garage approved by the insurance company. Further, it is typically available when the repair takes over two days.

Conclusion

A car is more than a transport mode; it is a cherished investment and deserves protection from potential mishaps. Add-ons equip you with complete coverage to guard your automobile and you from financial losses in multiple ways. You can choose any of the mentioned supplementary covers or check various covers for car insurance online.

Also, car insurance add-ons are not free. You must pay the extra premium amount to purchase the required cover. Keep in mind to check the claim settlement ratio and read the terms and conditions carefully before investing.

October 31, 2023
Benefits and Drawbacks of Usage-Based Car Insurance

Finding the right car insurance coverage can be exhausting, overwhelming, and downright frustrating. The market seems to grow every year, with companies offering new ways to bundle coverage and reduce premiums.

Saving money is great, but it can be difficult to find the right coverage at the right price while navigating the endless options. Is full coverage necessary for all drivers? What about people who drive significantly fewer miles than average?

Let’s face it, commuting to a workplace is becoming less and less common nowadays. More people are preferring virtual jobs and more businesses are opting for virtual offices, resulting in less time in the car. The transition to a more virtual world brings with it advantages while also highlighting some less than practical functions in life.

Buying a standard auto insurance policy doesn’t always suit the needs and lifestyle of modern individuals. There needs to be a way to pay for only the coverage you use, not the extra you-should-probably-have-this-because-you-drive-everyday coverage.

Pay-as-you-drive insurance is the solution. This type of coverage allows a driver to pay for auto insurance when they need it – for the miles or amount of time they are actually on the road. But can it really be that simple?
What is usage-based car insurance?
Pay-as-you-drive insurance options are a growing trend in the insurance world. These coverages offer the same peace of mind and simplicity as the auto-pay bill option many banks offer. Drivers sign up for the usage-based insurance coverage and pay for the car insurance they use. It sounds simple enough, right? Let’s look deeper.
Pay-Per-Mile
Pay-per-mile, as known as pay-as-you-go or pay-as-you-drive, is a coverage option based on how much a driver actually drives. The more miles driven in a year, the more a driver pays for their insurance coverage.
Pay-How-You-Drive
Another usage-based option factors in how safely a person drives. This type of coverage requires constant monitoring and analyzes everything from when you drive to how quickly and sharply you turn. The riskier your driving maneuvers, the more expensive your coverage.
Manage-How-You-Drive
This type of coverage is much newer than other usage-based options. Manage-how-you-drive is similar to pay-how-you-drive but with more real-time feedback and cost analysis.
How are drivers monitored?
Usage-based insurance requires high levels of monitoring. Insurance companies need to know when and how you drive so they can provide discounted rates. Drivers who choose usage-based insurance are usually offered two different options for monitoring.

Depending on the provider, drivers are provided with a tracking device. This device is small and unobtrusive. It simply clicks into the underside of your dashboard and collects data about your driving habits.

Other providers outfit their customers with a phone app. The app is activated when inside the car and collects similar data on driving habits.
What are the benefits of usage-based car insurance?
Some benefits of usage-based insurance may seem obvious, but there are some that are worth exploring more closely.
Financial
The biggest benefit to this type of car insurance is cost. Drivers can see big discounts in their premiums and rates based on how well and how often they drive.

The biggest savings are seen by those who drive better than statistics suggest, such as young or new drivers. Drivers between 16 and 25 are considered some of the most costly to insure. If a young driver uses usage-based car insurance and drives safely, they could see big savings.
Societal
One benefit that is often overlooked is society at large. The more people turn to usage-based insurance, the safer the activity of driving becomes.

Usage-based insurance encourages drivers to practice safer, more aware driving habits. This means all road users — drivers and passengers — are at lower risk of accident or injury. Those who are more aggressive or higher-risk drivers will be discouraged from these habits when they see an increase in their premiums.
Security
This type of insurance coverage also offers security benefits. Cars that are equipped with a tracking device for insurance purposes can be more easily recovered in the event of a theft. Drivers can breathe easier knowing they have an extra layer of support and security.
What are some drawbacks to usage-based car insurance?
This car insurance coverage does present some concerns or drawbacks. These drawbacks should be understood and weighed alongside the advantages to determine if usage-based car insurance is the right option for each driver.
Information Security
There have been concerns or worries about personal information and data breaches. Because usage-based insurance relies on technology and the collection of personal information, people have voiced concerns about its safety.

News of large tech companies falling victim to online hackers has people worried about the vulnerability of their personal information. A breach or loss of data is possible with usage-based coverage.
Limitations
Depending on the provider, usage-based insurance can have some serious limitations. Some providers limit when a driver can be on the road, blocking out certain times of day as riskier. Other providers limit this coverage by placing age restrictions.

This type of insurance coverage can also be limited when circumstances change. If a driver finds a different job with a longer commute, usage-based coverage may no longer make any financial sense. Usage-based insurance can be limiting just by its own nature.

Usage-based insurance is a new trend. It’s growing in popularity and shaking up the car insurance industry. Similar to when buying car insurance online became the norm, usage-based insurance may soon be the new norm.

Laura Gunn writes and researches for the auto insurance comparison site, BuyAutoInsurance.com. She and her husband work out of the home, so they understand the need for flexible, personalized auto insurance options.

March 9, 2023
How Working From Home Can Save You Thousands of Dollars a Year

Since the beginning of the pandemic, people are not only working from home in record numbers but they’re also saving tons of money on expenses they’d otherwise need to pay.

Working from home can save you money in pay-per-mile car insurance discounts, lunches you would normally eat with coworkers, wardrobe updates, office expenditures, public transportation, and more, leaving you with more cash to save or use for other things.

Here are a few ways you can save thousands of dollars each year by working from home.
#1 – Lunches and Coffees with Coworkers
When people work at their offices, it’s only natural to buy a coffee before work or to eat lunch with coworkers. However, these quick bites add up.

When you work from home, you’re more likely to make both your lunch and coffee at home, which is cheaper than dining out. Doing so can potentially save you hundreds of dollars per year that you can use toward buying new furniture, decorating your home office, or saving up for a larger purchase.

#2 – Work Clothes and Upkeep Costs
A professional wardrobe for the office can be costly. To look presentable in person, office workers are generally required to follow a dress code, though the code itself may vary from business to business. Spending cash on good-quality clothes can add up throughout the year.

However, when you work from home, you don’t always need to have an extravagant wardrobe. More and more Americans are wearing athleisure while working from home, which can be bought almost anywhere and is significantly cheaper than suits and other work-appropriate attire.

Keeping quality work wear in tip-top shape also costs money, from going to the dry cleaners and tailor to getting expensive shoes resoled.

When you’re not required to put on a suit and tie for work, you save money in the long run.
#3 – Gas or Public Transportation
The average price for a gallon of gas in the United States has skyrocketed in recent months due to inflation, supply chain bottlenecks, and COVID-19 mitigation measures. Taking public transportation such as a train or bus adds up over time, too. By working from home, you can avoid these hefty prices and save hundreds per year.

#4 – Tax Breaks
People who are self-employed are entitled to various tax deductions when they work from home.

If you have a home office, you can deduct the percentage of space (compared to your entire home) that you work in from your taxes. For example, if your home office takes up 10% of your home, you can deduct that amount in insurance costs or utility bills. Some of your rent can be written off, too.

There are even COVID-19–related tax breaks for 2021. If you dealt with issues related to COVID-19 during the first nine months of 2021 and were unable to work, you can claim sick and family leave credits.

#5 – Health Improvements
Morning commutes can be stressful. From spending hours in the car dealing with traffic to running after the train so you don’t miss it, the stress of commuting takes a toll on the best of us.

This can potentially lead to your spending more money on medications and therapy. People who work from home can cut that stress out of their lives and feel less anxious as they take the 10-second commute to their home office and put away that gas money toward other things, like retirement.

You’ll also have more time to hit the gym and cook healthier foods since you won’t be spending hours in the car or on the train. This will also lead to less time at the doctor’s office to receive treatment for conditions related to poor diet and exercise, therefore saving you money.

Sleep health is extremely important. Lack of proper sleep hygiene can lead to all sorts of dangerous health woes, including depression, obesity, and heart disease. Working from home gives you more time to get enough sleep since you won’t be waking up as early to commute to work.

#6 – Low-Mileage Car Discounts
Some drivers can get discounts on car insurance if they cover low mileage. Since insurance rates are based on risk and time spent on the road, this means that low-mileage drivers are considered less risky drivers. This is why it may be possible to receive a discount if the miles you cover fall within discount criteria.

Every insurance company defines “low mileage” differently. However, this number can usually be anywhere from 7,500 to 15,000 miles per year. Since remote workers are driving less than they used to, they may be eligible for low-mileage car discounts.

Talk to your insurance provider about low-mileage policies.

Luke Williams writes and researches for the auto insurance comparison site, BuyAutoInsurance.com. His passions include writing about insurance, business, finance, and other ways everyday people can spend better.

September 4, 2022
How Auto-Pay Can Help You Stay on Top of Your Bills

The worst part about being an adult is the responsibility of paying your bills. Utilities such as water, heat, electrical, and gas are a necessary pain. Insurance premiums for your home and vehicle are also imperative to keep up with.

Staying organized and being punctual with your payments will save you money in the long run and keep you in the good graces of those to whom you owe money. Many banks allow you to use auto-pay options, which take away the hassle of remembering when everything is due.

Even when you know a due date, life can get in the way and make it more convenient to change the due date to a different time. But is every entity that you owe money flexible with due dates? Or do they desire for their customers to be right on the nose?

This article will help answer many of the questions you may have about paying your bills, such as “Can I change my car insurance payment date?” and “Do auto-pay options with my bank have any drawbacks to them?”

Car Insurance Companies and Late Payments
When it comes to car insurance bills, most companies will be flexible with their due dates on payments. Remember, the best insurance companies will treat the relationship between customer and business as a humanistic one. Don’t be afraid to communicate and treat the relationship as one that is on equal footing.

So many customers fret that they need to fear the auto insurance industry as they do the IRS or another federal entity that is going to arrest them and discipline them for a late payment. Your business is valuable and if you find that your current provider is not working with you in a reasonable manner, it may be time to explore your options and make a switch.

It’s easy to take control of your insurance options by shopping online or asking a friend. Remember, though, that if you are switching insurance companies frequently, think about why you are never satisfied with your agency and their policies on things like late payments.

Healthy understanding is a two-way street. Never paying your bills, even when you have asked for multiple late payments, will lead to consequences.

If it feels like manual payments are never going to be right for you, you should take a look at auto-pay options.

The Pros of Auto Payments

Setting your bills on auto payment is super easy and allows people who have a hard time keeping track of all of their expenses to never have to worry about late fees or other repercussions of forgetting to pay up.

Auto payment can be especially helpful if you are on your last limb with your insurance company, you want to stay with them, and you promise to pay up after messing up so many times in the past.

This is also important if you are forgetting to pay bills that are essential to living a suitable life for your family and yourself. Never paying the water bill is going to put you at risk of losing one of nature’s greatest gifts; not paying for electricity is going to send you back to the Renaissance for lighting resources.

The Cons of Auto Payments
This doesn’t mean there aren’t downsides to automatically paying for bills, though. What if the payment changes on a monthly basis? You may find yourself searching for funds or wondering why the auto payment has bounced when there aren’t enough dollars and cents in the piggy bank.

If you decide to put entertainment subscriptions on auto pay, you’ll look back with extreme regret that you didn’t give yourself the opportunity to cancel before paying another 80 bucks for four different streaming services, three of which you never watch anymore.

These problems won’t affect everyone. Many people will look at and evaluate all of their auto payments on a monthly basis to make sure their bank accounts have a sufficient balance and that they aren’t getting overcharged for paying for something they no longer use.

But if you are the type of person who meticulously examines your finances for ways to save money, why would you need auto payments? You would just as well want to manually pay each and every bill so that you can save time worrying about what’s flying out of your account without your knowledge.
The Verdict on Using Auto-Pay for Bills
Whatever is best for you, make sure that you evaluate what types of bills are right for automatic, and which ones are better suited for manual. It’s always nice to find a balance for everything in modern society.

Financial responsibility is actually a very personal and unique experience. Some of us want to earn online, and others are more old school. Even though we all have to worry about paying our expenses, the ways we do it are specific to our lifestyles.

Gather the information you need and go from there. Success should always follow this philosophy.

Shawn Laib writes and researches for the auto insurance comparison site, autoInsurance.org. He enjoys helping people evaluate and maintain their financial situation.

January 8, 2022
Top 10 Best Health Insurance Companies In India | 2020
Hello friends, if you are looking for the best health insurance companies in India online then read this article completely because in this article we are going to tell you about the top best health insurance company. Which have been providing their services in India for a very long time. And millions of people have taken advantage of health insurance from these.

The main objective of health insurance is to get care without any burden on your finances. Health insurance plans provide protection against medical costs including hospitalization expenses, daycare procedures, and ambulance fees, among many others.

There are 5 types of health insurance policy in general –
1. Individual health plans
2. Family floater health insurance policies
3. Senior citizen health insurance policies
4. Top-up and super top-up insurance policies
5. Policies covering specific illnesses such as cancer or major disease
You can choose any of these policy plans according to your needs. Let us now know which is the best company in India for insurance. From where you can get health insurance for yourself.

1.Religare Health Insurance

In a short time, Religare Health Insurance Company has shown tremendous growth. This medical insurer has set its criteria in the insurance market of India. This health insurance provider has 3 units: Religare Enterprises Limited, Corporation Bank and Union Bank of India. The company provides treatment in more than 4100 hospitals across India. Another feature of this health insurance provider is that they settle claims directly, which helps the company to maintain customer satisfaction and retain its customers.

2.Max Bupa

Max Bupa is one of the best companies providing health insurance in India, which has been providing health insurance in India for a very long time. The company is a joint venture of Bupa Finance PLC and Max India Ltd. This renowned insurer offers a special range of insurance products for individuals of all ages and income groups. Max Bupa offers special benefits in mediclaim policy packages such as coverage for room rents without sub-limits and lifetime renewal options.

3.ICICI Lombard

The ICICI Lombard Company is a well-known name in the health insurance market that provides complete coverage of expenses incurred during any medical emergency. The reach of this insurance company is very high. It provides cashless treatment facilities in more than 3200 hospitals in India. Also, the speed with which the company resolves the claims is very impressive as if this insurer approves the reimbursement claim in just 14 days. ICICI Lombard is popular across India for a comprehensive health insurance policy packet that offers its services abroad as well as India.

4.Apollo Munich

After the merger between Apollo Hospital Group and Munich Health, India’s most famous medical insurer Apollo Munich Health Insurance Company came into existence which is very reliable. Which is one of the companies providing very good health insurance facility. This medical insurance company provides health policies with comprehensive coverage. This Apollo Munich Health Insurance is good medical insurance as it has a wide range of offerings to cater to the needs of people from all sectors. When it comes to a real treatment facility, this insurance provider offers a cashless treatment facility in most hospitals within a few hours which is one of the very popular facilities. This company claims over 80% renewal.

5.Star Health & Allied Insurance Company Limited

Star Health & Allied health insurance providers rank first in the list of standalone health insurance companies in India. It had carved a niche for itself in the health insurance sector in India right from the beginning. Star Health Insurance is financially secure in times of online medical emergencies. This company has a very large network that provides cashless treatment facilities in more than 7000 hospitals. In addition, the company also claims an in-house claims settlement team. The company won the Health Insurance Company of the Year award in 2015.

6.Cigna TTK Health Insurance Company

The Insurance company is a joint venture between Cigna and TTK group. Established in the year 2014, this company immediately became part of the best health insurance companies in India due to its good facilities. The company offers a wide variety of products to meet individual and family health insurance needs. Also, the insurer provides cashless treatment facilities in more than 4000 hospitals across the country. Cigna TTK Company’s health insurance policy provides expenditure coverage 60 days before and 90 days after hospitalization.

7.Bajaj Allianz General Insurance

This major general insurer offers all types of health insurance products. Which will be helpful in meeting your medical needs. Bajaj Allianz General Insurance is the first company to offer captive TPA services along with some benefits. This company offers health insurance plans for individuals, families, senior citizens, and women-specific health insurance policies. It provides coverage against pre and post-hospitalization expenses. Also, the company has access to more than 5000 hospitals.

8.New India Assurance Insurance Company

It is a new health insurance company which is very popular for its New India Health Insurance Plan. These New India Insurance online health plans provide cashless treatment in all the hospitals in the network. Currently, New India Insurance claims access to over 1200 hospitals across India. This company offers a lifetime renewal option of the Mediclaim insurance policy. Also, the company offers free medical check-ups.

9.Oriental Insurance Company Limited

This company was started in Song 1947. Oriental Insurance is fully government-owned and the oldest general insurance company of the government. Which provides all other types of insurance like Personal Accident Insurance Policy, Happy Family Floater Policy, Super Health Top Up Policy and car insurance policy etc. across India. The Oriental Insurance Health Insurance Policy for the family provides coverage to a maximum of 7 members of the family including 4 adults and 3 children. It comes with health insurance policies available online along with health insurance or lifetime renewal option. According to this company, its network is more than 4300 hospitals, where the health insurance policyholders are provided with cashless treatment.

10.National Insurance Company

It does an insurer that provides the best medical insurance in 2019 among the best health insurance companies in India. This company fully covers the costs of treatment and care before and after hospitalization for 30 and 8 days. Also provides health checkup after 4 years. This company has more than 6000 hospitals in its network to provide cashless treatment facilities to its policyholders.

Conclusion

I hope you will find this information very good and now you will know that which is the best health insurance companies in India and which company is providing health insurance according to your needs. If yes, then go to any of these sites and read all the policies carefully. Then take a health policy for yourself.
February 24, 2020
Want to save money on car insurance? Check it out here

Technology is taking over the conventional modes of driving and is being replaced by the autonomous cars. They are designed to keep us safe and will take us places as we want. But, even they are prone to any kind of accidents if there is a system failure. If the system loses its control over the car, it could lead to consequences. It is better that we keep our cars and automobiles insured upfront.

Insurance for our vehicle is a must and we know that we need to pay for the insurance. It will be helpful for us to claim it in the future, if at all there is any kind of damage. Insurance is done for the purpose of accidental damage or theft in any case. There are certain things we need to consider before we go ahead and apply for insurance for our car. This isn’t too much of problem for motor traders, as they can get a traders insurance policy for any car they drive. However, all other people, they must have a personal policy that covers their personal vehicles.

There is a list of factors which the car insurance providers will be considered to know the actual quote for our car. Right from our age, to the income we earn through our job, everything needs to be examined. The first thing we need to look into is the form we will be filling out for our car insurance. The information provided should be appropriate enough to have an equal sharing amount in paying.

Insurance for our vehicle is a must and we know that we need to pay for the insurance. It will be helpful for us to claim it in the future, if at all there is any kind of damage. Insurance is done for the purpose of accidental damage or theft in any case. There are certain things we need to consider before we go ahead and apply for insurance for our car.

There is a list of factors which the car insurance providers will be considered to know the actual quote for our car. Right from our age, to the income we earn through our job, everything needs to be examined. The first thing we need to look into is the form we will be filling out for our car insurance. The information provided should be appropriate enough to have an equal sharing amount in paying.

Fill appropriate details in the form

In most cases, the car owned by a person will be used by oneself or more. If they one or more persons who use the car on a regular basis. Then the primary and secondary driver details must be furnished so as to avoid unequal payment from the respective parties. We as well need to consider, is the interval time we are taking to pay for the insurance.

Depending on the interest rates and the time interval of our payment, it will help us to save more money. It is better that we provide genuine details while we are applying for insurance. If we end up providing false information, then we are the ones who will be in jeopardy. We need to check the quotes which the insurance companies are willing to cover for our car.

Check on the quotes for the coverage

We tend to think that, if the quote for the cover is more we need to pay more for it, but that may not be the case. It is better that we check what we are paying and in turn what we will be getting out of it. There could be chances that we are paying more than we need to pay, if we can keep a close check on it. We can certainly save more money than we are paying for the insurance.

There is another easy way around to save that extra money, is by taking forward the excess. This will indeed help us to get lesser quotes from the companies rather than the higher ones. It is a fact that we are paying a bit more upfront, but on the other side, it is giving us the benefits of lesser quotes. A few companies may charge us more or less depending on the circumstance of our car driving.

Compare the policies

It is a good thing that we compare the quotes which these insurance companies make through their websites. It will provide us the details of which company is best for our preferences. That will save us some more money apart as will get the discounted rate. The business tactics which they follow is that, not comparing the complete quotes from the traders.

Not all the comparisons will give us the best deals; there can be chances that we may not get one. For us to get the best deals for our coverage, it is better that we fill in all the details in the form. It will be easier for the search engine to give us the guidance on which one will be the best one for us. Try to avoid certain options which will mention priorities, a common search will give us better results.

Aim for details from all the corners

We can also look out for options which will provide us the details of the insurances available in complete market. It will be an added advantage if we can opt for an insurance which will provide us cash back guarantee. Before we switch to any other insurance provider, it is always better that we discuss it with our current insurance provider as well.

The best way to get away with insurance at low cost is by paying it at a nominal price. It is better that we own our car rather than leasing it out to someone else. We are the ones who are paying for the insurance for our cars and it is ought to be used by ourselves. If we give it away on lease to someone else, the regulations set are by the organization.

Driving the car for personal use

So, it is better that we keep it to ourselves and use it for our own personal purpose. If at all we want to lease it out, we need to make sure that we are getting a compensation for the vehicle. We should not be paying for the damage occurred by a third party, if we do so it will our loss. Then there will be no question of saving our money, instead we will be spending more.

There two types of insurances which we can opt for when it comes to car insurances. One which will pay for the damages made to our vehicle by us. Another option is the one which pays for our own property damage as well as others property damages. This is not recommended to any of us, we may end up paying more, as it includes third party properties as well.

Minimum coverage

The best option we can always go with is, considering the minimal allowances we would like to have for our car. This will reduce the rates for our insurance cover and will save those last few dollars. There is a question; if by any chance we hurt someone else will it be covered. Yes, it will be covered and there is no doubt about it.

Driving less will eventually make the insurance agents to make lesser quotes. That is another way of saving a bit more money than the usual. Driving our car for longer distance is much preferred than shorter distance. It will keep us within the limit of miles to be used per year. If we drive less we can easily avoid all the consequences which we may face due to reckless driving.

Build skills to avoid accidents

It is good that we learn better driving skills from a professional to avoid accidents. As a matter of fact, the insurance company will give us an insurance based on our skills. They don’t want us to make them pay big time money for our mistakes. Though we are the ones who are paying for our insurance coverage, it is a loss for both the parties.

Every year there are changes in the rates for insurance companies, so we need to keep ourselves updated. We can buy a better insurance, which will be reliable for us and cost effective as well. If possible, we should pay for our policy upfront when the interest rates are less. Requesting for a discount based on the insurance we are applying will lessen the cost.

We should never our insurance to breach the set time, period and make sure that we are always insured. A smart thinking will always lead us to better options and save us from the pitfalls. If we can follow all this then we are going to definitely save money through our car insurance.

Anand Rajendran is a freelance writer living in Chennai, India. His interest in personal finance and budgeting began when he was earning an MFA in theater, living in one of the most expensive cities in the country (Chennai, TN) on a student’s budget. Today, he writes for a number of websites and keeps up his own Classic Car Insurance company named Sysive in UK.

November 30, 2016