Buying a new car is a significant investment, and in India, securing the right car insurance is an extremely crucial step in protecting this investment. With so many options available in the Indian insurance market, it is important to know how to get the best discounts on your car insurance.
In this blog, we at Chola MS provide some strategies to help you save money on insurance while making sure you have the right coverage for your new car.
1. Compare Insurance Quotes Online
The Indian insurance market offers a variety of options, and comparing quotes is essential for finding the best deal on insurance for new car purchase. Use online comparison tools available on platforms like Policybazaar, Coverfox, BankBazaar, etc. These tools allow you to enter your details once and receive quotes from multiple insurers. By comparing these quotes, you can find the most competitive rates and discounts available for your new vehicle insurance.
2. Check for New Car Insurance Discounts
Many insurance companies in India often provide special discounts on insurance for new car purchase. Since new vehicles come with the latest safety features and are less likely to require costly repairs, insurers often provide lower premiums. When getting quotes, make sure to mention that your car is new to make the most of any discounts available for new cars.
3. Highlight Safety Features
Modern cars are equipped with various safety features that can lower your insurance premium. Features such as Anti-Lock Braking Systems (ABS), Airbags, Electronic Stability Control, etc., reduce the risk of accidents and injuries. When discussing insurance insurance for new car purchase, highlight these features to potentially receive discounts based on the advanced safety technologies in your vehicle.
4. Check for Low Mileage Discounts
If you drive less than the average number of kilometres each year, you might qualify for a low-mileage discount. Many insurance companies in India offer lower rates for drivers who don’t use their cars often. Make sure to give accurate information about your driving habits when getting quotes to see if you qualify for this discount.
5. Good Driver Discount
Did you know being a good driver has its own perks? Yes you read right! Maintaining a good driving record can help you qualify for a discount. Most insurance companies offer a good driver discount of 20% to 25% to individuals with clear driving records such as no accidents or rules violations.
6. Bundling Policies Discount
Purchasing multiple insurance policies such as Home insurance, Life insurance, etc., from the same provider can lead to a bundling discount on your premiums. For example, if you purchase new vehicle insurance along with Home or Life insurance from the same insurance company, you will get discounts on both policies.
Conclusion
We know you have already invested a lot in your new car and might be hesitant to spend more on insurance. However, by following these simple yet effective tips, you can enjoy discounts on your new car insurance. Do thorough research, prioritise coverage, and choose reputable insurance for new car purchase.
Your new car deserves special treatment, so keep these tips in mind to double your happiness with your new purchase while protecting your own peace of mind.
