Comparison of car insurance renewal policy
Let us assume, a
person by the name of Mr. Nikhil Kumar, a Mumbaikar, purchased a stylish
Hyundai Santro car a year back. His policy is about to expire on 30th September,
2015. In a bid to find and compare available renewal policies for his car, Mr.
Kumar visited the portal of GIBL and furnished his and his car’s details. His
car details are, a 5 seater Hyundai Santro , AT, petrol with a cubic capacity
of 1086. Mr. Kumar made a claim in the first policy year and he opted out for
voluntary deduction.
Upon furnishing all
the information Mr. Kumar got hold of 15 car renewal policies to compare with.
When he started to compare policies on the basis of beneficial features, he found
only 3 policies offer all those facilities that he was looking for. Here is a
table of top 3 car insurance renewal plans.
Advance Renewal
Most car insurers tend to raise the price of renewal on or
some days before the stipulated renewal date. A lot of car-owners faced a
sudden hike on the day of renewal , simply because insurers are well-aware of
the fact that car-owners have no option but to grab them by paying more. Hence,
it is prudent to start looking for a car renewal policy at least two months in
advance.
A week or two can be spent on searching, finding, comparing
and selecting the best motor insurance renewal plan so that the renewal policy
can be acquired at least 45 days before the lapse of current policy. Even if
insurers raised the renewal rates at the time of renewing car policy it won’t
be a matter as the policy has already been renewed at a reasonable price.
While comparing a myriad of car insurance
renewal schemes, car owners invariably come across a plethora of features
on offer by insurers. Since the requirement varies from one car-owner to
another, it is prudent for motor insurance renewal seekers to narrow down on
features they they need and opt out those costly plans with extensive features
that are not relevant for them. This ploy can save them a good amount of money.
expiry of the existing policy, the new policy will come into
effect only when the former one ceases to exist. This means the money that
car-owners paid for premium earlier will not be lost.
[Source: http://blog.gibl.in/car-insurance-renewal-you-cannot-escape-but-you-can-certainly-save/]
Nice one blog on car insurance renewal thanks for shearing a blog
ReplyDeleteWhile you drive your car its mandatory to have vehicle insurance and there is no escape to this. While we have to have vehicle insurance till the time of vehicle we can be smart and can save substantial money on renewal by keeping tab on the dedication value and some premium decision parameters. The articles shows the do's to get better insurance premium.
ReplyDelete