Getting a four-wheeler is a thought-out decision for most people. As it is a hefty investment, choosing the perfect model is of top priority. But the same approach does not get adopted while getting it insured. Many vehicle owners give in to the offers made by dealers. This seems like an easier method than buying the policy directly. However, this poses a risk to your safety. It also leads to surprises when you put the Insurance to use.
Hence, treating Car Insurance with the importance it deserves is necessary. Check the coverage it provides against the premium you pay. Contrary to popular belief, the premium is not a fixed charge. Insurers decide them based on your driving record, location, vehicle’s condition, etc. This provides room to get lower costs. Use these tips to negotiate for the best deal:
Choose Comprehensive coverage tactfully
The minimum required according to the Motor Vehicles Act is a Third-Party Policy. But it only covers third-party persons and assets. Hence, upgrade to a Comprehensive Plan to get extensive protection. This involves compensation for losses against your vehicle as well. Additionally, you can choose riders for specialised security. But they increase the premium cost. Hence, choose the Comprehensive Car Insurance Policy carefully, considering your budget.
Avoid modifications
Insurers fix the premium amount based on various factors. One of them is your four-wheeler’s condition. They check the depreciation rate and the model to evaluate the risk. Vehicle enthusiasts make modifications for stylistic preference and performance enhancement. While this is up to discretion, excessive changes jeopardise safety. This increases the premium on the Car Policy. Hence, if possible, avoid them having an edge while negotiating.
Do your research
Dedicating time to research is an essential aspect of getting the best policy. Shop around to evaluate the competitive offers. Most insurers make this process easier as they provide online Car Insurance. You get the information required on their respective websites. Refer to the details to evaluate their offers. Look beyond the quoted premium amount to learn about its calculation. This way, negotiating for a better deal becomes easier.
Opt for higher deductibles
Prepare for this if you seek a lower premium. It is the amount you agree to pay during claim settlement voluntarily. It handles the repairs and other associated costs of maintaining the four-wheeler. If you opt for zero deductibles, the insurer covers all expenses. But this leads to a higher premium. By contributing a portion, you reduce the overall premium amount. You may change this during Car Insurance renewal.
Maintain a clean driving record
Insurance providers also check your driving history to judge the risk level. If you have a clean driving record, you are in a better place to negotiate for a lower premium. Insurers pay heed to your request owing to the responsible driving. Also, some insurers offer discounts to reward you. Check the same while comparing Car Insurance online.
Install security systems
Being a responsible driver does not end with driving safely. You also need to upkeep your vehicle with utmost care. Although you cannot prevent losses, taking security measures is still an option. This involves installing security devices like theft alarms and disc locks. Insurers consider this positively while deciding the Insurance cost.
