Consider these tips for reducing premiums when renewing your car insurance!


Car insurance is more of a need than an option. It is necessary to protect the car, the car owner or any third party. Additionally, the increasing number of traffic accidents highlights the importance of having car insurance. You should be aware that auto insurance coverage is mandatory if you drive a car. Any vehicle detected on the road without legal car insurance will face heavy fines. You have to be extremely careful to avoid incidents, but if they do happen, only car insurance can protect you from an area of ​​consequences and liabilities.

Auto insurance coverage is not something you buy once and forget. You must renew your car insurance every year. If you don’t renew your car insurance in a timely manner, your coverage will expire, putting your car at risk. This implies that you will not be compensated for damages if something serious happens to your car or to a third party due to the expiry of your car insurance.

H2- How to reduce premiums?

The procedure to renew expired car insurance is simple, fast and requires minimal documentation. Here are some things to keep in mind if you want to lower premiums when renewing car insurance.

• NCB – No Claim Bonus

Before renewing expired auto insurance, check the applicable SOP. If you haven’t made a claim on your car insurance in the past year, you may be eligible for a no-claim bonus, which is a reduction on your renewal fee. The PNE increases each year until it reaches a certain maximum after five years without claims. You can use the accumulated NCB to reduce your costs when you renew your auto insurance policy.

• Renew your insurance policy on time

Always keep track of the expiration date of your car insurance. Some insurers provide a buffer period of a certain number of days after you have passed your expiration date. However, if you ask renew car insurance when it has already expired, you may miss the opportunity to earn SCB or other benefits.

• Value declared by the insurance

The IDV is the maximum sum reimbursed by the insurer in the event of total damage or theft of the car. The IDV is determined by the insurer based on the market price of the car after depreciation. IDV differs from insurer to insurer.

A higher IDV equals higher premiums, and vice versa. However, this does not mean that you should select a lower VDI when renewing your car insurance. Choosing the right IDV will ensure that you do not pay excessive premiums and suffer financial loss in the event of theft or total loss of the vehicle.

• Deductibles

Your deductible limit decreases the insurance company’s liability for claims. As a result, the insurer accepts a rate reduction. Therefore, by choosing a higher voluntary deductible, you can reduce the cost of your renewal premium. However, bear in mind that the amount to be received in the event of a claim will be reduced as a result.

• Install anti-theft equipment in your automobile.

Another simple strategy to minimize your car insurance is to reduce the likelihood of the vehicle being stolen. The higher the level of security, the lower your premium. Installing anti-theft equipment such as speed locks, burglar alarms, and steering locks from certified manufacturers can help you save money on your insurance.

• Choose car insurance with consideration

It is essential to carry out research before purchasing car insurance online. Research the different car insurance policies thoroughly, weighing the benefits and features against the price paid by the car insurance company. Once this box is checked, you can evaluate other factors such as premium payment methods, auto insurance company claims settlement ratio, auto insurance claims filing procedure and image. from the auto insurance provider.

• Avoid making unnecessary vehicle changes

Modifying, altering or adding any new technology to your car will significantly increase your premiums. This is because certain modifications can increase the likelihood of an accident or theft. The increase in costs would depend entirely on the type of improvements implemented. In addition, it is essential to notify the insurer of any changes made to the vehicle to avoid refusals during claims.

• Compare and rate insurance plans online

The internet has made life so simple that our needs can be met at our doorstep with just the touch of a finger. Everything from clothing to consumables, jewelry to vehicles and residences can be purchased online.

You need to be careful when renewing your car insurance policy now that you know how to save money on this one. So, the first thing to note is the expiration date of the policy, then take the opportunity to research better plans or other ways to minimize your car insurance premium.

There are different methods to reduce the renewal premium of your car insurance policy. You can use one or more of the procedures described above to obtain the lowest possible premium rates. It’s important to remember that the cheapest doesn’t always mean the best. In addition, nothing replaces safe driving techniques. Safe driving coupled with adequate insurance will undoubtedly help lower your insurance premium in the long run.

Disclaimer: The above information is provided for guidance only. For more details, please refer to the wording of the policy and the prospectus before closing the sales.


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