When its time to renew your car insurance there are chances you may think about changing lanes. If you think you should look for new car insurance plans just to get an idea about what things are available out there, you should know a few helpful hints and tips. In India, car insurance renewal might actually turn out to be something useful for you.

Car Insurance Tips

Here are the few car insurance tips you should keep in mind:

• Compare Quotes

There are plenty of online insurance comparison websites that can offer reliable auto insurance quotes. Doing a bit of research and seeing what else is available will always being a big help. Find out which company is offering the best and most affordable plans. You can also use a car insurance premium calculator.

• Save Money Through Comparison

Quote comparison can actually land you quite a few benefits. So many people compare quotes from different providers once their car insurance renewal is up and they find out they were able to save almost as much as fifty percent on insurance premium.

• Things to Look Out for

There are of course some things you need to be careful about like voluntary excess, no claims bonus and IDV.

• Voluntary Excess

If in case of an accident, voluntary excess requires you to pay a certain amount, so that your premium can be reduced. While this might be feasible, if you don’t know about this prior and don’t have money at the time of the accident it can be a major problem.

• No Claims Bonus

Your claim will not be processed if you take more no claims bonus than you are entitled to so be careful about the kind of no claims bonus you receive.

• IDV

IDV is the amount that you get in case there is a total loss. This is actually the maximum amount but your agent might be tempted to reduce this without telling you because IDV reduction brings about a reduction in premium, which may mean a sale for the agent.

• Check Insurance Broker

Buying from an insurance broker is much more reliable but it is important to see if they check out by using the IRDA website. You can make a check by getting the license number from the broker.

• Insurance Broker VS Insurance Agent

An insurance agent is basically someone appointed by a particular insurance provider who works as a salaried employee. An insurance broker on the other hand isn’t associated with just one company but multiple providers so they can help get you a better insurance plan without having bias towards one company.

• Additional Personal Accident Insurance

In an accident if you have passengers along then their liability also falls on you. This is why getting additional insurance for family members is always a good idea because these people will be traveling in the vehicle with you.

• Drive Safe

Once you have the insurance policy and after car insurance renewal, you don’t have the license to drink and drive. You are still in charge of your life and the lives of other people. Drive safe and don’t give your insurance providers a reason to deny a claim.