HomeTECH BLOGSave money on insurance Policy - 15+ Best Tips and Ideas

Save money on insurance Policy – 15+ Best Tips and Ideas

insurance policy save money

Save money on insurance – Insurance is a means of protection from financial loss. Its a form of risk management, primarily used to hedge against the risk of certain loss. An entity which provides insurance is known as insurer. Now a day cost of insurance policy is very high, either its is vehicle insurance or life insurance. So, here I will be give you some best tips to save money on insurance. In addition to it I will recommend you some best platform where you buy insurance online and save money on insurance.

ALSO READ :- How to claim car insurance price,if you meet with accident

How to save money on insurance policy :-

  1. Always looking for a discount

In insurance you always get a discount, If you ask your insurer for discount then sure he/she will give you discount. Apart from that, Always renew your insurance on time.

2. Pay Attention to roads

Through this point I want to say that, always be a good driver, Don’t distract yourself while on driving. Because this will make fatal accident and more money has to be spend on next insurance.

3. Check for better insurance rate’s

Company like policy bazaar offers you wide variety of insurance rates on her website. In addition to it , if you don’t want to do insurance online than take quotations from different insurer and get best insurance price.

4. Increase your deductible

When selecting a car insurance, we can typically choose deductible, which is the amount of money you have to pay before pick insurance. So choose this thing according to your requirements.

5. Review your coverage

Dropping certain type of coverage can be a slippery slop. After all, nobody can predict if or when accident will happens. If you are driving new car then do Bumper to bumper insurance(fully covered insurance) and if you driving a old car then take only third party insurance.

6. Always research additional discount

Agent will provide you variety of discount such as , Offers you to entire annual premium at one. agreements to recive E-bills and documentation. Memberships in particular organizations o group that offers discount.

7. Score high with no claim bonus points

You can save your 50% of car insurance if you aim for high no claim bonus points. Insurance company will reward you with no claim bonus if you don’t make claim in full year.

8. Install safety Feature’s

Always install safety feature’s in your car to save money. The safety feature like Anti-theft alarm, GPS, anti-lock brake system etc.

9. Don’t buy a guaranteed issue policy is you are fit and healthy

Some agent give offers guaranteed issue policy, These policy does not require medical exam and this policy are passed easily.

10. Quit smoking

Yes you are reading it right. Quit smoking will enhance your way to live life. Smoking can reduce your life expectancy significantly and increase the agent risk of having to pay a death benefits.

11. Discount for automated payment.

Check whether your agent give discount in your insurance if you opt for automatic payment method.

12. Ask for a re-evaluation if your health improves

You will be able to save money by asking your agent to re-evaluate your insurance if your health is improve. You need to submit a new medical report to the insurance company for re-evaluation.

13. Improve your health

By improving your health you will save lots of money because health is wealth.

14. Dealer or non-dealer garage?

Drivers are well aware that the premium for dealer garage is more expensive, which can be 10-30% more. Now a days many non dealer garage have quite good standard to compete with dealers garage.

15.Group Insurance is cheaper

If you own more than one car, registered on same name. Than you will get discount from group insurance.


Most Popular