The Indian Wire » Automobiles » 10 Tips to get discounts on car insurance renewal this new year

10 Tips to get discounts on car insurance renewal this new year

Car insurance is mandatory. If you have a motor vehicle in India, you will need a motor insurance plan to cover it. You need to find a plan that is affordable and effective. The same holds true for car insurance renewal. If you feel the premium you pay is too high, look for discounts when you renew car insurance online. But how can this be done? Just take a look at this article to get your answer.

Handy tips to get discounts on car insurance renewals:

Listed below are some of the best and the most effective ways in which you can lower your car insurance premium when renewing the plan:

  1. Compare plans: It is absolutely vital for you to compare car insurance online. Comparisons tell you which plan is available at what rate. When you compare, you also get to see the different features of various plans. You, therefore, get to find the best plan at the best price. So, comparing will help you get the best deal. Compare plans based on premium and price, and also analyze the service aspect of the insurance provider, especially with respect to claim 
  2. Calculate the IDV properly: Your vehicle’s IDV determines its market price and thereby its insurance cover. Make sure the correct IDV is calculated.
  3. Check your NCB: The insurance provider offers a discount if you do not make any claims in the previous policy year. This is known as the no claim bonus (NCB). Be a good driver and refrain from making claims. You will get a healthy discount on your current premium as a reward.
  4. Join an automobile association: Most Indian insurance companies offer a discount on the car insurance premiums if the owner of the car is a member of an automobile association. Join a registered automobile association and get discounts.
  5. Install safety gadgets: When you go for your car insurance renewal, you can inform your insurance provider about the new anti-theft device you installed. Most likely, you will get an instant discount on the premium.
  6. Adjust your deductible: Before you renew car insurance online, take another look at your existing deductible component. One is the compulsory deductible and one is voluntary deductible. Higher the voluntary deductible, lower your premium.
  7. Beware of a break in policy: Renew your car insurance policy on time otherwise your policy will be considered as a break-in policy. This might increase its premium.  
  8. Get the right type of cover: Do you need several riders? You may have a lot of riders and this may be pushing the cost of your car insurance up. When you renew your plan, assess these riders and their effectiveness. If you feel some are non-productive, drop them and see a drop in your car insurance premium too. Review your requirements and then see what type of cover you need. You may be able to make some hefty savings this way when you renew car insurance online.
  9. Lookout for offers: Digital-first online insurers sometimes provide some offers on their website. Make use of such offers to reduce your insurance premium.
  10. Choose online insurer: Online insurance companies offer low-priced car insurance policies without compromising on the benefits.


Keep these car insurance tips in mind for purchasing car insurance online. It is important for you to not only find the best car insurance cover, but it is also important to find it at the right price. So, look for every available discount and make some very handy savings when you renew your motor insurance policy by going for car insurance online.

About the author


I cherish a profound sentiment towards cars, bikes, speedboats, planes and almost all modes of transportation and writing about it is an avenue that helps me redeem myself.

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