How to Save on your Car Insurance Premium
- Increase the claim deductible. The deductible is an amount that an insurer pays from his pocket at the time of claim.
- Drive safe and avoid accidents, having a claim-free year will help in getting No Claim Bonus.
- Installing safety features like anti-theft devices.
- Select the Right IDV (i.e. Insured Declared Value). IDV is the present market value of the vehicle excluding the depreciation of its parts. The cost of registering the vehicle and its insurance premiums are usually excluded from the IDV. The premium will be computed on the IDV. IDV is the maximum value the insurer can compensate in case of a claim.
