How To Reduce Premiums During Car Insurance Renewal?

Get Car Insurance starting at only ₹2,094/year #
Processing

Car insurance renewal is an essential step to continue receiving financial and legal coverage for any damage that your car may sustain due to road emergencies like accidents. However, when it comes to renewing a car insurance policy, we all look for plans with lower premiums. Here are a few pointers that can help you reduce premiums during car insurance renewal.

Read more

  • Renew policy in 2 minutes*

  • 20+ Insurers to choose

  • 51 Lakh+ Vehicles Insured

#TP price for less than 1000 CC cars. All savings are provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.

Get Car Insurance starting at only ₹2,094/year #
Looking for Car Insurance?
    Other models
    Other variants
    Select your variant
    View all variants
      Full Name
      Email
      Mobile No.
      View Prices
      Please wait..
      By clicking on “View Prices”, you agree to our Privacy Policy & Terms of Use
      Get Updates on WhatsApp
      Select Make
      Select Model
      Fuel Type
      Select variant
      Registration year
      Registration month
      Save & update
      Please wait..
      Search with another car number?

      We have found best plans for you!! Our advisor will get in touch with you soon.

      Tips to Reduce your Car Insurance Renewal Premium

      Who doesn’t likes discounts especially when it comes to yearly things like your car insurance renewals? Below we have mentioned some smart and very simple ways to reduce car insurance renewal premiums:

      1. Avoid Policy Lapse

        To continue receiving policy benefits, you are required to renew your car insurance policy before its expiry date. If in any case, you forget to do so, you not only lose your cover but your policy also becomes lapsed. This in turn will increase your premium whenever you will purchase a new car insurance policy. Therefore, to avoid paying a higher premium, it is essential to renew your policy before its expiry date.

      2. NCB Benefits

        Your No Claim Bonus reward is another benefit that can help in reducing your renewal premium. For every claim-free year, you receive an NCB reward, that if accumulated can give you up to a 50% discount on your renewal premium. Thus, if you do not make a claim during a policy year, make sure to use your NCB reward to receive a discount on your car insurance renewal premium.

      3. Remove Unnecessary Add-Ons

        To increase the coverage of your car insurance policy, you can buy additional covers by paying an extra premium amount. These additional covers can be increased or reduced as per your preference while renewing a policy. For instance, if you do not require an engine assistance add-on anymore, you can remove it at the time of renewal which will lead to a reduced premium amount. So, before making the final premium payment during motor insurance renewal, make sure you remove the unnecessary add-ons from your car policy.

      4. Compare & Renew Policy Online

        Online purchase of a car insurance policy is not only simple but can also reap lower premiums. By comparing your four-wheeler insurance online, you can also compare the premiums of multiple car insurance companies and choose the right policy. Moreover, by renewing four-wheeler insurance online, you can also get the benefits of multiple discounts offered by different insurance companies.

      5. Consider Changing your Coverage

        Renewal is the right time to consider whether you need your existing coverage or not. There may be chances that you may not need the existing coverage and might want to purchase the one with less premium. For instance, changing your coverage to third-party insurance from comprehensive insurance at the time of renewal.

      Wrapping Up!

      If you are looking for ways to reduce car insurance premiums during car insurance renewal, you can easily follow the tips mentioned above. Apart from these tips, you can also get a discount on premium by raising your deductibles and installing an anti-theft device in your car. Moreover, you can also compare car insurance premiums online on Policybazaar.com and choose the plan that suits your requirements and budget.

      Find similar car insurance quotes by body type

      Hatchback Sedan SUV MUV
      Search
      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
       Why buy from policybazaar

      Car insurance articles

      Recent Articles
      Popular Articles
      Things You Need to Know About SUV Car Insurance

      07 Dec 2023

      If you are planning to buy an SUV car, it is also essential that
      Read more
      All You Need To Know About Hatchback Car Insurance

      05 Dec 2023

      Investing in a hatchback can be a great option if you are looking
      Read more
      Does Your Car Insurance Cover Damages By Rat Attack?

      29 Nov 2023

      Considering the population of rats in our country, it is common to
      Read more
      All You Need to Know About Standalone OD Insurance

      29 Sep 2023

      The concept of Own Damage(OD) is not a new one. For those of us
      Read more
      Your Guide to Reducing the Chances of a Rejected Motor Insurance claim

      29 Sep 2023

      Filing a motor insurance claim can be a complex process, and
      Read more
      Check Vehicle/Car Insurance Status Online on Parivahan Sewa, Vahan, IIB & RTO
      It doesn’t matter if you are an excellent driver or take your car out only once in a few months, your car must be
      Read more
      How to Find Car Insurance Details by Registration Number?
      As a car owner, it is mandatory to have a car insurance policy under the Motor Vehicles Act 1988. However
      Read more
      Getting Your Duplicate Car Insurance Policy is Easy-Here’s How!
      Losing your car insurance documents can be daunting. In such a state of affairs, the first thing that comes to your
      Read more
      How to Transfer Car Insurance Policy?
      An integral part of selling a car for both the buyer and the seller is ensuring a successful car insurance transfer
      Read more
      Comprehensive Insurance Vs Third Party Insurance
      A comprehensive car insurance policy offers protection against third-party liabilities and own damages sustained by
      Read more

      top
      View Plans
      Close
      Download the Policybazaar app
      to manage all your insurance needs.
      INSTALL