Car Insurance

4 Reasons You are not Having the Best Car Insurance Rates

By Admin
Apr 28, 2021

Whenever you buy car insurance don’t do it in a hurry. Always take your time in doing a proper search, understand your needs, know what plan works best for you, and then make an informed decision. However, many times people are unaware of some crucial factors hence unable to enjoy the best car insurance rates. They end up buying a car insurance policy which is not ideal for them in terms of premium or rates.  So, let’s just throw some light on those reasons that won’t allow you to find the best car insurance rates. 

1. Lack of Research/Comparison: If you purchase a car insurance policy without thorough market research, the chances of you buying the wrong policy are higher. Without proper research, you cannot do the comparison of different car insurance companies, offering lower premium rates. Thus, you buy a policy which is high on premium hence it would be a big burden on your pocket. 

PRO TIP: Always research and compare your car insurance policy before taking that final call. Doing so would help you to enjoy the best car insurance premium.      

2. Unaware of/Not Utilizing Discounts: Factors such as NCB, Installation of Anti-theft devices, and Voluntary Deductibles offer you discounts under a car insurance policy. But in most cases, a policyholder is either unaware of these facts or did not utilize them to reduce his premium cost. Due to improper utilization of the perks of his policy, he is not enjoying the best car insurance rates. Just like what happened with Ashish when he approached an insurance company to renew his car insurance policy, he did not know that installation of the anti-theft devices can fetch him heavy discounts. Hence, he missed the chance of availing of the discounts on his next policy premium. 

3. Not Ready to Change Your Insurer: Many people believe that it takes a lot of time and effort to change an insurance company. They think that it would be a lengthy process that also involves a lot of formalities. As a result, they are still continuing with their present insurer and paying a higher premium.  

4. Renewable of Policy After Expiry: Many times, policyholders miss the due date of their policy renewal, which makes their policy lapsed. So, at the time of policy renewal, they must be paying late fees, charges, or penalties. Hence, all this adds up to the cost of the policy and indirectly the premium rate that you would be paying now is high. 


Avoiding these common mistakes will help in enjoying the lower car insurance premium. Follow the right footsteps such as online comparison, using discounts, changing insurer (if necessary), and on-time policy renewable to enjoy the best car insurance rates. Become a smart buyer and always try to look for appropriate ways that help in relishing the cost-effective car insurance premiums.

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