Insurance is like a spare tyre. You may not require it, but not having one is not an option.

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 insurance policies online . 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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  • Oriental Insurance Car Insurance
    "Very nice zero dep plan"
    0.5 5.0/5 "Blown Away!"
    My car insurance premium is reasonable it has the coverage of two years, its has 100% of coverage called zero depreciation. Oriental Insurance agents are very polite in the service. I got best insured value based on my Mahindra Scorpio manufacture year.It has 24 hours service and also road side assistance.
    Was this review helpful? 0
    , jaipur
    Reviewed on Mar 26, 2019
  • National Insurance Car Insurance
    "Good"
    0.5 4.5/5 "Excellent!"
    I have chosen National Insurance for car insurance after comparing it online. They have provided higher insured declared value with lower premium and it includes zero dep. Once I will go for a claim then I can give better opinion. I have paid around 7,500 rupees for five years old vehicle. The policy period is one year.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Mar 26, 2019
  • ICICI Lombard Car Insurance
    "Better"
    0.5 3.0/5 "Satisfactory"
    I had a car insurance with ICICI Lombard and never used the service for claims. They never offered zero dep during the renewal. They are charging more premium for special features. I do get a notification regarding the renewal. Its a first party insurance.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Mar 26, 2019
  • review Car Insurance
    "Its Good"
    0.5 5.0/5 "Blown Away!"
    First time I took policy from Bharti axa for my hyundai eon, the insured value was good. They have comprehensive benefits front bumper to back bumper covered. Time of activation is good with their customer center. They have benefits 24 hours of road side assistance and other service.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 25, 2019
  • HDFC Ergo Car Insurance
    "Good claim experience and prompt response"
    0.5 5.0/5 "Blown Away!"
    I do have HDFC Ergo four wheeler insurance for my Hyundai eon its around four years old. One claim happened I went for the cash less garages, my car front bumper to back bumper got damaged, they settled Rs.11,000. I got the car within four days.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 25, 2019
  • New India Car Insurance
    "Affordable premium for my car"
    0.5 5.0/5 "Blown Away!"
    I have taken the zero dep plan with NCB in New India . New india has provided correct IDV value for my Maurtui Ertiga car . It is a third party covere and Co-passengers also covered in my insurance . Cash less garage is alos available in my location .
    Was this review helpful? 1
    , new delhi
    Reviewed on Mar 23, 2019
  • Oriental Insurance Car Insurance
    "Correct Insurance premium"
    0.5 4.0/5 "Great!"
    I insured my Tata Indica vista Car in Oriental Insurance with affordable premium . It is first a party cover but not zero depreciation . I got the better IDV value for my vehicle .Till now , I didn't gone for cliam, so I got 25 % No claim bonus for my vehicle .
    Was this review helpful? 0
    , mysore
    Reviewed on Mar 22, 2019
  • ICICI Lombard Car Insurance
    "Good"
    0.5 3.0/5 "Satisfactory"
    I have been with ICICI Lombard for almost 8 to 10 years because the premium is affordable for car insurance. I never contacted the customer service. I used to get a reminder msg through mail as well as mobile for the policy renewal. I have no claims. Its a first party insurance and includes bumper to bumper.
    Was this review helpful? 0
    , mumbai
    Reviewed on Mar 20, 2019
  • Reliance General Car Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have taken Reliance Car insurance .It is a one year policy .The name of the car is Volkswagon Polo .The Premium is yearly basis and i have paid Rs.14,000.I have got IDV value as well .ythe agent clearly explained the process of car insurance .Not yet faced any difficulties till now .
    Was this review helpful? 0
    , mirzapur
    Reviewed on Mar 19, 2019
  • HDFC Ergo Car Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    My car was insured with HDFC ERGO and it was default insurance by the showroom and am renewing the policy with them every year. The service is also good and the response was immediate. The premium was around 8 to 9K for one year policy. Its a first party insurance. It has included zero dep and bumper to bumper.
    Was this review helpful? 0
    , mumbai
    Reviewed on Mar 19, 2019
  • New India Car Insurance
    "Better service"
    0.5 3.0/5 "Satisfactory"
    I have a car insurance with NEW INDIA ASSURANCE and my experience was very good. The premium was 15,000 rupees for seconded car insurance. The policy period is one year. I have not gone any claims. It covers bumper to bumper and road side assistance.
    Was this review helpful? 0
    , pune
    Reviewed on Mar 19, 2019
  • ICICI Lombard Car Insurance
    "NOT SATISFIED"
    0.5 1.0/5 "Really Bad"
    ICICI LOMBARD GENERAL INSURANCE is the insurance provider where i have taken the car insurance policy but i am not satisfied with this because I had a claim once but they have declined it. The premium was 13K and the policy coverage is for bumper to bumper.
    Was this review helpful? 1
    , mumbai
    Reviewed on Mar 18, 2019
  • Tata AIG Car Insurance
    "Smart Protection"
    0.5 5.0/5 "Blown Away!"
    I prefer Tata Aig car policy, because of the service and reputation, I am holding this car insurance for couple of years. They are providing no claim bonus depend upon the vehicle, the premium is very reasonable, last year I paid the premium around Rs. 10,000 for one year cover.
    Was this review helpful? 0
    , mumbai
    Reviewed on Mar 18, 2019
  • New India Car Insurance
    "Affordable premium for my car "
    0.5 5.0/5 "Blown Away!"
    For my Maruti Suzuki Swift Desire , I insured my Vehicle in New India . It is a third party cover . New India provided a correct IDV value and No claim bonus . It is Bumper to Bumper cover . I got a very good quotation with affordable premium in the market .
    Was this review helpful? 1
    , bangalore
    Reviewed on Mar 18, 2019
  • Tata AIG Car Insurance
    "Best insurance service "
    0.5 5.0/5 "Blown Away!"
    Recently I renewed the car policy with Tata Aig, its fine, the premium is good. The executive came to my place and collected the documents for the renewal, I availed the policy called bumper to bumper. I paid the premium around Rs. 14,000 for one month, IDV is good around Rs.5 lakhs.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Mar 16, 2019
  • SBI General Car Insurance
    "Excellent plan"
    0.5 5.0/5 "Blown Away!"
    I took my car insurance with SBI GENERAL, as a employee got benefits regarding the cashless garages, zero dep is provided. The premium was normal about 15K. It is a entire cover policy. I have been using this insurance since 3 years. The claim process was excellent.
    Was this review helpful? 0
    , mumbai
    Reviewed on Mar 15, 2019
  • New India Car Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I took my car insurance in New India Assurance from 2014. I like the service and am getting no claim bonus. The customer service is excellent. I have gone for cashless garages and its good. The policy period is one year. I have paid the premium through cash. Its a third party insurance.
    Was this review helpful? 0
    , new delhi
    Reviewed on Mar 12, 2019
  • ICICI Lombard Car Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy a long time back and the premium has been paying on an annual basis. I had done two claims last year and it was pretty much simple in the claim method. The policy covers bumper to bumper with zero debt and the premium amount has not been high.
    Was this review helpful? 0
    , chandigarh
    Reviewed on Mar 11, 2019
  • Bajaj Allianz Car Insurance
    "One of the best insurance provider with lot of options "
    0.5 4.5/5 "Excellent!"
    I insured my HONDA vehicle 2018 model in bajaj insurance .It is really having flexibility insurance .It is third party cover with a good IDV .Till now i had not gone for any claim . It is comprehensive plan with affordable premium .One of the best insurance provider with lot of options
    Was this review helpful? 1
    , bangalore
    Reviewed on Mar 09, 2019
  • Reliance General Car Insurance
    "Good Car insurance package"
    0.5 4.0/5 "Great!"
    I insured my Renault KWID in Reliance general insurance . They provided a affordable premium , correct IDV value , Bumper to bumper cover and third party cover . while processing my insurance with reliance i got good response . Till now i didnt gone for any claim .
    Was this review helpful? 0
    , gurgaon
    Reviewed on Mar 09, 2019
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