How to cut your car insurance bill?

Cars can not only your family drive around the city, they also can make a dent in the household budget. Such cost is car insurance, which is a prerequisite for the ownership of the vehicle, but is having a great day. However, it is possible to save money on your car insurance if you understand what factors affect your premium.

Anil Sehgal, the founder of financial advice portal "i-save ', said:" Insurance companies have different clauses in which one of the premium discounts on car insurance can avail. to understand these functions, customers can be aware of this discount can help be availed, the eligibility for these cuts and these cuts makes financial sense. "

In addition, premium rating criteria changed parameters on four parameters at the time the ruling, ie. geographical area, capacity, price and age of the vehicle. "Are now, considered several new parameters in a de-tariffed era premiums in the determination so that various ways to reduce your insurance bill," says Vijay Kumar, head of motor insurance at Bajaj Allianz General Insurance.

You can, for example, the premium of 10-30% reduced simply to pass through a correct and appropriate information to the insurer. Thus, it is not always a quote from a recent insurance company to obtain, but a few simple steps and attention to details can help you save on your car insurance. Here they go:

Discount / bonus: If you have not made against your car insurance for a given year, you can enjoy the benefits of "No claim discount any claims as a percentage of specific get reducing your bonus the following year no claim bonus increases with. without incident and usually with 20% and to start each year to a maximum of 50% of the component 'Kasko Premium "your car insurance.

Voluntary insurance: Insurers offer a discount on your premium vehicle when you wear associated with a certain amount of loss with each request. voluntary deductible is the amount you agree to pay a claim before the insurance company takes the balance. More voluntary deductible you agree for your lower premium. "The reductions associated with this function generally vary between 20% and 35% of the premium, up to a maximum of 3,500 Rs. However, it must be the amount of voluntary deductibles against cuts check to make sure that the amount of the rebate actually than the be voluntary deductible higher, "says Sahgal.

Brand and model of car: each model has its own demand and record prices, the insurer of the vehicle based on its claims experience. Some models may be more prone to protest due to their structure or use, and the premium account all these aspects. "May depend where some brands / models prohibitive repair costs. Discounts on the cost of repairs on some makeup / models," says Ajay Bimbhet, managing director of Royal Sundaram Alliance Insurance Company.