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If you own a four-wheeler, you need insurance with the help of a car insurance agent salisbury nc. Investing in insurance is not only essential but also mandatory according to the Motor Vehicle Act, 1988. You also need to renew the car insurance annually for continuing receiving the coverages. Hence, the premium amount could change, depending on several personal and external factors. If you want to save money while renewing the plan, you need to learn some tricks.
Following are the ways to save money at the time of renewal –
- Going claim-free
If you own vehicle insurance, you may be aware that there are many benefits of going claim-free as opposed to making claims. For every claim-free year, you become eligible to a discount on insurance premiums called as no claim bonus. This discount ranges between 10 per cent to 50 per cent, if done for five consecutive years. You can use the accumulated NCB and save money during car insurance renewal.
- Flouting traffic laws
If you get caught flouting traffic laws like no license, insurance, and PUC certificate, then the vehicle gets reported to the RTO, police station, and the insurer. The same applies if you get caught driving without a seat belt, speaking on the phone, or driving under the influence of alcohol. These behaviours are considered risky, considering insurers leverage to increase the premium amount. You can simply save the funds by not following any of these practices.
- Small damage claims
In case your four-wheeler bangs a pole or endures some scratches, you may be tempted to file for claims. However, these minor damages are repairable and payable. While the insurer does not reject these claims, your premium can increase significantly. Instead of spending thousands and letting go of the NCB, pay for minor damages yourself and save funds on car policy renewal.
- Anti-theft devices
If you install an anti-theft device, it is an excellent investment. Not only does it scare away the potential thieves but also brings down the insurance premiums massively. As your four-wheeler becomes prone to theft, so does the instance of filing claims. Precisely why insurers offer a discount on premiums on car insurance renewal if you install such a device.
- Member of AAI or WIAA
All those who are members of road safety associations like Automobiles Association of India or Western India Automobile Association receive discounts on their insurance premiums. All insurers offer such a discount.
Renewing four-wheeler insurance is as important as buying one. It offers legal and financial coverage if you are caught in an unfortunate scenario like an accident or if the vehicle gets stolen, damaged, or totalled. All insurers allow car insurance renewal online today. You only need to visit the insurer’s portal, and the insurance agreement gets sent to the registered address.
