Compare Breakdown Cover
So you have got a car and obviously great car insurance for that. You have gone through the lengthy procedure of purchasing the best vehicle insurance plan, carried out all the paperwork, fulfilled all the requirements and finally, you have it in your hand. It seems a daunting idea now to switch to another auto insurance policy because ‘apparently’ you seem to have the best coverage plan. But, think about it. Why not compare car insurances and then decide if you want to renew your insurance policy or not. That too, when there are so many websites out there which make it really convenient to compare auto insurance policies. So, before going for insurance policy renewal, you can benefit yourself a lot by following these tips.

1. Know your requirements:

Before going for car insurance renewal, you must know your requirements and realize that your car is one year older and has depreciated too. There are comprehensive plans and third-party insurance plans; you can pick from these. Comprehensive plan cover your vehicle against theft, accident, vehicle damage and other such benefits. Whereas, third-party insurance provides coverage against injury or death of a third party, damage to third party’s property and matters like this which involve the third party.

3. Compare car insurance costs online:

Don’t get your policy renewed before doing this little bit of research. These days there are many websites which can be of great help in making this comparison easy. You can simply go online and see a parallel comparison showing benefits of each car insurance. This will help you decide if you should stick to your existing policy or you can get a better deal with some other insurance company.

4. No-claim bonus:

A no-claim bonus is your reward for not getting into any situation. If you have not filed any claim during the whole year, you can get a bonus on your existing car insurance policy as a token of appreciation from the insurance company. This bonus is lowered premium which you can claim when your policy matures. With a no-claim bonus, you can claim a discount of up to 50% over the years.
Higher deductibles claim:
You can lower your premium significantly if your claim higher deductibles. Of course, this claim is paid later. A voluntary deductible is an amount which is paid at the time of claim. If you spend a higher voluntary deductible initially, then you can enjoy its fruits in the form of good discounts over the period of time. Before renewing your car insurance, you might want to pay a higher deductible so that you can enjoy its benefits in the long run.

5. Do not ignore the Fine Print

While you are out to purchase or renew your car insurance, do not just blindly opt for a coverage plan which is the cheapest plan available. Go through your coverage plan in detail, and figure out how it is going to cover you in different situations. A reasonable/affordable coverage plan might look yummy initially, but its clauses might contain hidden terms and conditions. And you might not like these terms and conditions.