Motor Insurance – Tips to Save Big on Premium!

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

If you love to own a car then it is your foremost responsibility to keep it insured. Whether a new one or an oldie, it is must to keep your hot wheels insured.  Motor insurance is an annual process with no fuss of remembering your monthly payments. Well, as third party insurance is mandatory according to the Indian government, it is must to have one.

Read more

  • Renew policy in 2 minutes*

  • 20+ Insurers to choose

  • 1.2Cr+ Vehicles Insured

Car Insurance

#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.
      Secure
      We don’t spam
      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.

      Let’s try understanding the policy and scope of saving money. As a matter of fact, having motor insurance in itself is a money saving act. Further, in order to avail discount on car insurance premium, here is what you can do

      Insured Declared Value (IDV) - 

      IDV is the current market value of your vehicle. A per the rule, this keeps reducing as the vehicle ages, and later it decreases the annual premium. IDV depends on the year of make and maintenance of your car. It is generally the total amount paid at the time of total loss. Owner of the car has all the right to further decrease the IDV.

      Automobile Association of India –

      Being a member of Automobile Association of India can help you get discount on car insurance premium amount.

      Anti –theft device installation – 
      On installing ARAI approved anti-theft device, one can get discount on own damage premium of 2.5% to a maximum of Rs.500.

      No Claim Bonus (NCB) -

      No Claim Bonus is discount provided on the own damage premium to the owner if he does not claim for any damage the whole year. This discount ranges from 20% to 50% depending on the consecutive years you haven’t claimed for. Hence it is advised not to claim for very low costing damages. 
       

      Discount on OD premium

      Years of No Claim

      20.00%

      No claim made or pending during the preceding full year of insurance

      25.00%

      No claim made or pending during the preceding 2 consecutive years of insurance

      35.00%

      No claim made or pending during the preceding 3 consecutive years of insurance

      45.00%

      No claim made or pending during the preceding 4 consecutive years of insurance

      50.00%

      No claim made or pending during the preceding 5 consecutive years of insurance

        
      Voluntary Excess -

      Voluntary Excess is a deductible amount which the insured agrees to pay from his side at the time of claiming for the damage. Here the rest of the amount is paid by the insurer. Opting for higher Voluntary Excess gives you higher discount on car insurance premium.

      Here is a table displaying the VE and discount -

      • Rs. 2,500: 20% on the OD premium, up to a maximum of Rs. 750
      • Rs. 5,000: 25% on the OD premium, up to a maximum of Rs. 1,500
      • Rs. 7,500: 30% on the OD premium, up to a maximum of Rs. 2,000
      • Rs. 15,000: 35% on the OD premium, up to a maximum of Rs. 2,500

      Reducing limits of liability –

      In case of third party liability, insurance companies provide a cover of Rs. 7.5 lac which can be reduced by the insured. The minimum amount which is mandatory to have is on Rs. 6000.

      Comparison -

      Purchasing online motor insurance is a simple way to compare policies of different insurer at the same time and save up to 10%* on your premium. Online motor insurance facility can help you get the car insurance quotes letting you to make the right decision for your four wheeled princess.

      * All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

      Age and profession
      Many insurance companies provide discounts depending on the age and profession of an individual like doctors and chartered accountants get discounts on car insurance premium.

      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
      IDV in Car Insurance

      22 Feb 2024

      In layman's terms, the IDV full form is the Insured Declared Value
      Read more
      Must-Have Car Insurance Addons for Brand New Cars

      31 Jan 2024

      Investing in a full-coverage car insurance policy is essential for
      Read more
      No Claim Bonus (NCB) in Car Insurance

      29 Jan 2024

      No Claim Bonus (NCB) is a reward given by an insurer to a
      Read more
      How to Choose the Right Car Insurance for Your First Car?

      17 Jan 2024

      Buying their first car is no less than a milestone unlocked for
      Read more
      Things To Know Before Purchasing Sedan Car Insurance

      12 Dec 2023

      The type of four-wheeler you purchase also impacts its insurance
      Read more
      Check Vehicle or Car Insurance Status/Validity Online
      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
      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
      Find Car Insurance Details By Registration Number
      Sometimes, you may face situations when you need car insurance or vehicle owner details but cannot readily access
      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
      Comprehensive car insurance offers protection to the insured car against third-party liabilities and own damages due
      Read more

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