Car insurance is a brand new sector for first-time vehicle owners. While it is critical to drive the car safely on the road, it is also critical to insure it with the appropriate coverage, which can assist you financially in times of need. Insuring your automobile policy from a car dealer would seem to be a good idea, but not knowing anything about car insurance could land you in problems instead. So here are 10 secrets your vehicle insurer won’t tell you.
1. Your car’s model is important.
The model of your car has a direct impact on the price you will pay for your car insurance. Every model and make has a separate rating system on the basis of which the automobile premium is decided on.
2. Your good driving talents will be rewarded.
Being a skilled driver has its own set of advantages that not only protect you from getting into an accident, but also provide you with a no-claim bonus. No claim bonus is the insurer’s way of rewarding the policyholder for not filing a claim in the previous years. On premiums due, the discount ranges from 20% to 50%.
3. It is critical that you compare several auto insurance coverage.
It is usually a good idea to perform a comparison before settling on a certain auto insurance plan. Comparing auto insurance premium prices, coverage options, and add-ons, among other things, may be done online. Your auto insurance cost may be greater if you have more coverage. Before deciding on a specific plan, make sure to compare them.
4. Installing security equipment might help you save money on insurance.
Installing security equipment protects your vehicle from theft while also lowering your insurance rates. Different anti-theft gadgets, such as gear shift locks, ignition kill switches, audio alarms, floorboard locks, and so on, can keep your car safe while also saving you money on insurance.
5. It’s critical to keep your insurance policy valid.
When your policy lapses, it means it is no longer active. Driving your car while your insurance is inactive means that any damages to the vehicle will not be covered, and you will not be eligible for any no-claim bonuses. As a result, it’s critical that you have your insurance active at all times.
6. Small claims should always be avoided.
If you file a claim for minor damages, you risk losing the no-claim incentive you are entitled to. This is significant because you must weigh the amount of NCB you will receive against the cost of the damages you are seeking. If the repair costs are less than the NCB you are eligible for, go ahead and file the claim; if the repair costs are less, take advantage of the reduction.
7. Expensive gadgets and modifications can raise the premium.
Exterior modifications such as LED extensions, fuel alterations, body kits, roof racks, and body wraps, among others, might raise the cost of your automobile insurance coverage. This is because your driving style is evaluated based on such changes.
8. Join AAI or WIAA as a member.
Joining the Automobile Association of India and the Western India Automobile Association will save you money on your insurance premiums. The Motor Vehicles Act and Rules give the AAI and WIAA authority. Members of these organizations are thought to be safe drivers.
9. You have the option to transfer your no-claim incentive.
It’s worth noting that you can move your NCB from one car to another if you’re the owner of the vehicle. NCB is tied to the car owner, not the policy or the vehicle. If you buy a new car, you can always request an NCB transfer certificate from your insurance company.