When you own a vehicle you are concerned about its safety on the road and you ensure that it is protected against all kinds of unfortunate events. Therefore, you plan to buy car insurance.
But at the same time, you are also on the lookout for various discounts you can avail, so that ensuring safety for your vehicle is not compelling you to dole out an unnecessary amount of cash.
Comprehensive car insurance Policy or just the collision coverage, whatever you buy there is a discount on almost every car insurance product. Your car Insurance Agent may not disclose the number of discounts on the insurance policy for your new car or give you a minimum possible discount. So, you need to be alert on how much discounts you are eligible for.
Let’s see the types of discounts available in the market through which you can lessen the burden of paying the highest cost for required car insurance cover:
Driving history and other background details
If you have never collided your car or you are habitual of following traffic rules with utmost sincerity, your genuineness will be honored by offering you a discount on your car insurance policy.
On the contrary, if you have bought a car for the first time and do not have a driving history, do not worry as there is a host of discounts in your position too. There are other background details apart from driving history such as marital status, age, area of usage for driving, etc.
Generally, the insurers provide good discounts to a married person in comparison to the unmarried young adult or a teenager. So, if you are married or drive in considerably less traffic area or prefer to drive your car occasionally, you can have your part of the bargain on discounts here.
Member of recognized clubs
If you are a member of any of the recognized clubs, check with your club as well as your car insurance company whether you are eligible for any kind of discounts on your car insurance policy due to the same reason.
If you already own car insurance policy or any other insurance policy and want to procure another for your new car, prefer buying it from your existing insurance company. This way you will be eligible to get loyalty Bonus or discount.
Discount for defensive drivers
If you have acquired quite excellent defensive driving techniques while learning car driving, you can ask your Insurer to provide you a discount for the same. As acquiring this skill set will save you from many of the road accidents, you will be able to save your car insurance company to pay for huge accidental expenses, your insurer will be happy to provide you this kind of discount.
Safety equipment discount
If you have installed any safety equipment in your car like anti-theft device, you can ask your insurance company to provide you discounts for the same. The amount of discount may go around Rs 500 or so.
Voluntary excess discount
You need to choose deductibles while choosing a car insurance cover. If you opt for higher voluntary Deductible that is excess of your normal deductible amount, you are eligible for a voluntary excess discount on your premium.
Pursuing discounts on car insurance is actually a good habit as it will lead you to acquire real cheap car insurance. However, maximizing the number of discounts on your car insurance can sometimes disrupt your car insurance cover. So be aware of that and hunt the discounts that can provide you requisite cover while saving.