Money-Saving Hacks for Your Vehicle Insurance Premium

Hii connections... Lets know some tips for lowering for insurance premium cost for vehicle from this narrative

(Kailas and Pooja meet outside a car showroom )

Kailas: Hi Pooja!

Pooja(CA): Hiii Kailas, Congratulations you have bought a very nice car! Now you have to give party.

Kailas: Yes but not this month as I have expended too much on this car plus I have to take insurance and its premium is very high.

Pooja: Why, haven't you getting "No Claim Bonus"?

Kailas: No, what's that?

Pooja: No claim Bonus or NCB is a reward given by and insurance company to an insured for not raising any claim requests during a policy year.

Kailas: How much discount I can get from this?

Pooja:  The NCB is a discount ranging between 20-50% and is given to the insured while renewing a policy and this discount is offered on the premium amount during renewal.

Kailas: But its useless to me as my car is new.

Pooja: This discount is transferable and can be transferred even if the policy holder buys new vehicle.

Kailas: Wow!! That's great, do you know some more tricks like this?

Pooja: Yess, but for that you will give me treat for saving your money.

Kailas: Ok, but that depends on your advice.

Pooja: So you can get discounts by these two ways

1.Installing anti theft devices

2.Don't buy unnecessary add-ons

I have one more best hack but for that you have to increase your party budget

Kailas: Yes, I will give where you want. Just go on.

Pooja: There is one more term "Pay as you drive"

Kailas: Now, what's this?

Pooja: Pay as you Drive implies “usage-based” car insurance. It allows the insured person to pay for insurance based on the distance driven, rather than flat fees. This means that those who drive their cars rarely will have to pay less premium amount with pay as you drive car insurance policy.

One of the primary advantages of Switch on Switch off car insurance policy is potential cost saving. By turning off coverage during period of inactivity, policyholders can reduce their insurance premium significantly.

It is crucial for policyholders to understand that the vehicle will not be insured for switch off period. Any damages, accidents, or theft during this time will not be eligible for insurance claim

Kailas: Thank-you, you saved my lots of money. We're definitely going for party and in this month itself.