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Best Tips to Save Money on Car Insurance Renewal

Whenever a person buys a new car, he has to also apply for an insurance policy. Buying an insurance is not a one time thing, a person has to keep renewing the insurance policy before it lapses. A lot of car owners consider this renewal system a pain as it needs time and most of them do not trust the online renewal system or find it very complicated. What they do not realise or know is that if they use the online renewal system they may end up saving a good amount of time and money on premium and also get added benefits at the same cost because it is quick and hassle free.

To get benefits from the online renewal system, a person has to be careful while purchasing the insurance. One can take the following tips into consideration to save money while renewing their car insurance online.

Compare Various Online Car Insurance Policies

Thanks to the internet, a person can now check up various car insurance policies provided by different companies, compare them side by side and then choose the best product online. It helps them in getting the maximum benefit from their chosen policy. Most insurance companies have their own websites and their customers get the benefit of using their online insurance policy renewal facility. On the websites, a person can easily calculate their premium by using the insurance premium calculator. A person must always compare the car insurance policy quotes of different companies during renewal.

Enlighten Yourself on Required Documents

One should always read and enlighten themselves with the fine print of the car insurance policy they decide to purchase it. They must understand all the terms and conditions mentioned in this document in detail. It helps one discover the hidden clauses and become familiar with them. This knowledge of the same helps to avoid any problem in future.

Be Familiar With Your Car’s Value

If a car owner knows the value of his car, the knowledge helps him save a lot of money on the premium. The car owner should calculate the present value of his car by comparing it to it’s market value at the time of renewing his insurance policy, this helps him figure out the depreciated value of his car which enables him to negotiate with the insurance company on the premium of his chosen car insurance policy.

Get No Claim Bonus

No Claim Bonus (NCB) is a discount on premium provided by the insurance company to the car owner if they have not made any claims during their car insurance policy period. If a person is eligible for no claim bonus, then he should claim it during the policy maturation period. This reward can lessen the premium amount considerably through the years.

Ask for High Deductibles

Asking for higher deductibles during renewal can help a person decrease their premium amount. If a person pays a high deductible, while claiming his car insurance policy, then he can save money on premium. Paying high deductibles could be risky for a customer, so he should increase his deductible to an amount which is affordable for him.

These are just a few simple, quick to follow suggestions one can use to save money while renewing their . Car owners love their cars a lot and hate to see any harm come to it. To ensure the car is free from all possible harm, owners should keep their car insured and renew the insurance policy on time.

GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017

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Best Reasons To Buy Car Insurance Online Reviews

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  • ICICI Lombard Car Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have chosen ICICI Lombard for a car insurance because am holding a salary account and the services are good. I got a first party insurance. I am having Maruti Suzuki Zen which is 8 years old. The IDV value is better. The policy is valid for one year and paid premium of Rs.2,500.
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    , visakhapatnam
    Reviewed on Sep 17, 2019
  • SBI General
    SBI General Car Insurance
    "Good"
    0.5 4.0/5 "Great!"
    My car is insured with SBI General because its easy to renewal and main thing is the premium is not so high. The customer service is not so good and would suggest them to improve the service. I had a claim and the experience was average. The policy is valid upto 3 years.
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    , faridabad
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  • Oriental Insurance Car Insurance
    "Good for car protection"
    0.5 5.0/5 "Blown Away!"
    I have maruthi 800 car which has the four wheeler policy of Oriental Insurance, my premium was around Rs. 8.000 for specific period. I took bumper to bumper with 100% of coverage, the renewal process is very easy. I usually visit to the Oriental branch, I used to get the policy copy. They do have road side assistance, 24 hours service etc.
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    , bangalore
    Reviewed on Sep 14, 2019
  • Chola Ms Car Insurance
    "No claim Experience"
    0.5 3.0/5 "Satisfactory"
    I have taken car insurance from Cholamandalam insurance. They have financed for my vehicle hence they have provided the policy from them. Long back, i have renewing the policy with the same company. They have provided me a coverage value of Rs. 2,5 lakhs and i do not have any claim experience till now.
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    , hyderabad
    Reviewed on Sep 14, 2019
  • National Insurance Car Insurance
    "Good Experience"
    0.5 5.0/5 "Blown Away!"
    In 2016, I had a car insurance with National Insurance, at the time I done a claim because my car front bumper got damaged, hence I got the cashless garage option then within 2 to 3 days I got my car back with proper condition, it was also good insurance company.
    Was this review helpful? 0
    , panipat
    Reviewed on Sep 13, 2019
  • HDFC Ergo Car Insurance
    "Good Protection "
    0.5 5.0/5 "Blown Away!"
    Currently I have car insurance with HDFC Ergo, I paid the premium around Rs. 10,000 for one year plan, it gives bumper to bumper protection for my 2015 maruthi wagon R car, they are providing good IDV value based on manufacturing year. The renewal process was happened easily through the dealer.
    Was this review helpful? 0
    , panipat
    Reviewed on Sep 13, 2019
  • ICICI Lombard Car Insurance
    "Good for car policy"
    0.5 4.0/5 "Great!"
    I have four wheeler policy with ICICI Lombard, the premium is based on the claim or else its reliable. They do have third party insurance, road side assistance, 24 hours, I got the cashless claim when I met with an accident but they covered 50% of plastic only remaining amount I paid it.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 10, 2019
  • United India Car Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    United India renewal process is very easy and they give reminder call before the due date. I paid Rs.7800 for per annum for my bumper to bumper plan, they are providing road side assistance, 24 hours. They do have no claim bonus for my renewal. The service is prompt I able to reach them at any time.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Sep 09, 2019
  • Future Generali Car Insurance
    "Best policy for car"
    0.5 5.0/5 "Blown Away!"
    Future Generali premium cost is affordable and also they gave me best insured value based on my Alto 2016 model car. They do have road side assistance, 24 hours service, break down service, they used to give no bonus claim upto 20% whenever I go for renewal.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Sep 09, 2019
  • HDFC Ergo Car Insurance
    "Good Claim Process"
    0.5 5.0/5 "Blown Away!"
    I do have car insurance from HDFC Ergo, I believe the last year premium was Rs. 27,000 for per annum, its a comprehensive plan which has the personal accident cover as well, they do have road side assistance, 24 hours service, break down service. When my car met with the accident I got the cash garages, I left the car in Honda service center within week time I got my car back.
    Was this review helpful? 0
    , lucknow
    Reviewed on Sep 07, 2019
  • ICICI Lombard Car Insurance
    "Not at all satisfactory"
    0.5 1.0/5 "Really Bad"
    I had a very bad experience with ICICI LOMBARD so am not interested to continue my car policy with them. When I bought my car and got this policy. When I went with claim for minor accident, they have been saying only these things will be covered and some is not included.
    Was this review helpful? 0
    , mumbai
    Reviewed on Sep 06, 2019
  • National Insurance Car Insurance
    "Extremely satisfied"
    0.5 5.0/5 "Blown Away!"
    My car is insured with National Insurance which am very happy. I have been sticking with this insurer for last 10 years and all my car's are insured here. I opted for third party insurance and the premium is affordable. The claim process was done properly and the services are great.
    Was this review helpful? 0
    , mumbai
    Reviewed on Sep 06, 2019
  • New India Car Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I got my car insurance with New India Assurance and company provided me a car and they are taking care of my policy. I am not facing any problems and they have taken third party insurance. Hoping the premium is affordable and the benefits are good.
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    , vizianagaram
    Reviewed on Sep 05, 2019
  • New India Car Insurance
    "Superb"
    0.5 5.0/5 "Blown Away!"
    I took a car insurance with New India Assurance and am advisor as well. The premium is low than other insurance companies. They have charged me 18K for a year and its first party insurance with full cover. They are doing good service and even done a claim. I got 80% on the reimbursement.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Sep 03, 2019
  • HDFC Ergo Car Insurance
    "Better Service"
    0.5 5.0/5 "Blown Away!"
    My car dealer has provided me a car insurance from HDFC Ergo. Its a zero depreciation policy and i'm not sure about the bumper to bumper facility. I have no idea about the road side assistance and no claim bonus. This is a new policy which covers for 3 years. IDV value is sufficient for me.
    Was this review helpful? 0
    , kolkata
    Reviewed on Sep 01, 2019
  • Bajaj Allianz Car Insurance
    "Satisfactory"
    0.5 5.0/5 "Blown Away!"
    I did my car insurance with Bajaj Allianz because they have approached me and quoted the insurance price. They were very transparent on the things. The services are very quick and prompt. The policy coverage is one year. I took it first first party insurance for Maruti Alto car.
    Was this review helpful? 0
    , secunderabad
    Reviewed on Aug 31, 2019
  • National Insurance Car Insurance
    "Good Plan"
    0.5 5.0/5 "Blown Away!"
    For my Swift car 2018 model I paid Rs.15,000 per annum its fully covered because its a bumper to bumper plan. Best part whenever I face any issue with the car, I can immediately park in the vehicle in the agency, very next day they give the car. They take care of all the formalities without approaching us. We don't want to worry about all such procedure.
    Was this review helpful? 1
    , noida
    Reviewed on Aug 30, 2019
  • HDFC Ergo Car Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I got a car policy with HDFC ERGO from the dealer.I have purchased i20 car and they have charged me around 40K for 3 years policy. It works as a first party insurance for the first year and remaining years as third party insurance. The insurance paper sent through the postal.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 29, 2019
  • United India Car Insurance
    "Good"
    0.5 4.0/5 "Great!"
    My car is insured with United India because its premium is good when compared to private insurer. I have taken a first party insurance. The policy coverage is one year. I have done a claims and it was good. It includes bumper to bumper. They have provided the reimbursement in a week.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 28, 2019
  • Oriental Insurance Car Insurance
    "Don't recommend this policy"
    0.5 5.0/5 "Blown Away!"
    My car insurance policy was taken from Oriental because this policy was suggested by my agent. I am paying the premium amount of Rs. 4000 nearly. This is a First party cover policy. Since my car is new, for the first year, they are giving a zero depreciation.
    Was this review helpful? 1
    , mumbai
    Reviewed on Aug 27, 2019
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