Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

How to Save Money on Motor Insurance?

Let us take you through a few things you must know about motor insurance to understand how you can save an unexpected amount from your next car insurance premium.

Contributor Content

Updated:October 13, 2017, 6:45 PM IST
facebookTwitterskypewhatsapp
How to Save Money on Motor Insurance?
Image for representation only.
Loading...

Nobody likes paying more for less, but somehow we all end up paying money even where we can save. Everybody pays premiums for motor insurance every year; however, do we actually know what premium are we supposed to pay? Let us take you through a few things you must know about motor insurance to understand how you can save an unexpected amount from your next car insurance premium.

1. Renew on Time

If you want to get your policy renewed with same terms and insurance cover, you should do it before the last date as afterwards it may cost you more with the supervisor charges and late fee. Also, if you get your policy renewed 45 days in advance, then you are covered for any price hike in insurance premium too.

2. Compare before Buying

Review various car insurance policies online to compare and find the benefits and insurance cover provided by different companies. By comparing different policies, you can see if there's another insurance policy that can offer you more benefits which are not there in your current policy.

3. Review Policy Features

At the time of renewing your policy, you can add upon or discontinue with any feature of the policy you don't need any longer or are covered for, by someone else. By reviewing your policy features, you can reduce your car insurance premium.

4. No Claim Bonus

If you don't claim for any accident or any other repair throughout the current year, then you are officially signed to get a no-claim bonus, which will ultimately reduce your next year motor insurance premium.

5. Valuation of Your Motor

At the time of renewing your old or taking a new policy, one should know about the market value of the car getting insured as accordingly insurance premium is supposed to be fixed. Thereby, it can give you a fair idea of the amount to get insured and to be paid as premium.

6. Review Terms and Conditions

Whenever signing up a new policy or renewing an old one, you should go through all terms and conditions listed at least once, to avoid any hassle later, as there are many hidden terms and charges that can cost you money later.

| Edited by: Bijaya Das
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 103.85 11.43
Indiabulls Hsg 646.35 1.16
Infosys 784.85 0.71
HDFC Bank 2,391.20 -0.15
Tata Motors 170.00 5.62
Company Price Change %Gain
Yes Bank 103.90 11.48
ICICI Bank 424.55 0.51
Reliance 1,293.10 1.35
Indiabulls Hsg 646.10 1.22
SpiceJet 131.75 4.36
Top Gainers
Company Price Change %Gain
Yes Bank 103.85 11.43
Tata Motors 170.00 5.62
Sun Pharma 433.30 2.45
NTPC 130.95 2.34
Titan Company 1,114.75 2.33
Company Price Change %Gain
Yes Bank 103.90 11.48
Tata Motors 169.85 5.53
Sun Pharma 433.25 2.57
NTPC 131.05 2.46
Power Grid Corp 208.75 1.93
Top Losers
Company Price Change %Gain
TCS 2,106.00 -1.85
M&M 622.90 -1.42
Britannia 2,747.15 -0.95
UPL 641.90 -0.85
HCL Tech 1,019.65 -0.76
Company Price Change %Gain
TCS 2,105.30 -1.86
M&M 623.10 -1.35
HCL Tech 1,020.00 -0.71
Kotak Mahindra 1,502.50 -0.35
HDFC Bank 2,392.15 -0.16

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results