As a new driver, you probably think about how to save on car insurance for new drivers. Vehicle insurance for new drivers can be expensive. However, we will tell you several strategies to save on your premiums while ensuring you have adequate coverage.
One of the most effective ways to save on car insurance online is by comparing insurance policies. By getting multiple quotes, you can see each policy’s premium and benefits. This comparison process allows you to make an informed decision and potentially find a more affordable option.
Take a close look at the features of your insurance policy. Some add-ons or riders may not be necessary for your specific needs. Reducing unnecessary coverage, such as rust protection or sealant cover, can significantly reduce your premium costs. Carefully assess the utility of each aspect of your plan and consider streamlining your coverage.
Insurance companies reward policyholders who don’t make claims by offering No Claim Bonus discounts. The longer you go without making a claim, the higher your NCB and premium discount will be. By driving safely and accumulating NCB points, vehicle owners can save up to 50 per cent on their car insurance premiums.
Ways to save on car insurance premiums in India
Here are some practical ways to save on car insurance premiums in India:
If you have multiple vehicles, insure them with the same provider to take advantage of multi-car discounts.
Maintain a clean driving record; avoid any traffic violations and accidents, which can lead to lower premiums.
Enrol in a defensive driving course to improve your skills and qualify for insurance discounts.
Compare insurance quotes from various insurers to find the best rates and coverage.
Public transportation reduces your car’s mileage, so using mass transit or carpooling when possible works in your favour.
Choose a smaller, more economical car, as it often comes with lower insurance costs.
Opt for higher deductibles to lower your monthly premiums, but be prepared for increased out-of-pocket expenses in case of a claim.
Manage your finances responsibly to maintain a good credit rating, which can positively affect your insurance rates.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the relevant industry. It is advised to verify the relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.