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7 Sure Ways to Bring Down Premium of Your Comprehensive Car Policy

By Vikas Chandra Das
21 July 2022, 11:46 AM

Comprehensive car premium is costly? Think again.

You may think that the premium for a comprehensive car insurance plan is expensive as it covers both third-party plus own damage. But there are smart ways to cut down on the cost. And this article is all about that!

Let’s find out the different ways to make comprehensive car premiums affordable.

7 Ways to Reduce the Price of the Car Premiums

  1. Buy online – You must be tired of paying the commission costs and other hidden charges when you buy a car insurance plan through an agent. You can now cut all that easily and reduce your premium prices by buying the policy online. Moreover, you get to compare various plans easy to find the most suitable options. Just like what Arun did when he purchased a car insurance policy online on his brother's recommendation hence got a policy at a reduced premium as compared to offline mode.
  2. Compare plans – Just like you compare various other products while shopping, the same should be done while buying something as important as a car insurance policy. You must compare different plans, based on the IDV and the premium prices. Always go for the combination of higher IDV and lower premiums.
  3. Multi-year policy – Multi-year policy is a new scheme that many insurance providers have come up with in the wake of regulations brought in by the government. Now, you can buy a policy for multiple years in one go. This way, you do not have to bear the increase in the percentage of premium prices that happen every year. Usually, this increase is around 10-15%, and saving that amount can make a big difference, especially if the premiums are already quite high.
  4. Voluntary deduction – Apart from the compulsory deductions, you should also opt for voluntary deductions. This can reduce the premiums considerably. Always remember that the more deductibles you are ready to pay the less will be the premium prices. Note that, you will have to pay this amount only when there is a claim settlement to be done. So, if you are confident of being a responsible driver and not meeting any accidents, you might not even have to pay the deductible amount if there won’t be any car insurance claim. It means you can save on premium prices just by opting for a higher voluntary deductible amount in your plan.
  5. Use of anti-theft devices – Make sure that you install anti-theft devices in your car to cut down the premium rates. If you have an anti-theft alarm system or proximity sensors, then the company will be much more comfortable in providing insurance to such vehicles than the ones without them. As a result, you can get the plan at lower premium prices. Additionally, you can install a CCTV camera at the spot you park your car, as this reduces the chances of theft. This too is a deciding factor when it comes to premium prices.
  6. Be a member of a motor association – There are various government-approved motor associations in India, based on different regions of the country.  If you are a member of any of them, then you will get a waiver of INR 500 in your premiums.
  7. Opt only necessary add-on covers – One of the smartest ways to save on premiums is to buy add-ons that make sense and will be actually useful. Evaluate your needs and look at your pocket size in order to know which add-ons you can avoid if you think they are not required. This will automatically bring down the prices of premiums.


We are sure that these measures will help in reducing the prices of premiums for your comprehensive car insurance plan. Just make sure that you buy the policy online to not only save money but to make the whole process easy for you. Always take your time to compare different policies before finalising one.

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