Purchasing a Maruti vehicle is an important milestone, especially for first-time car owners. Along with the excitement of owning a new car, there comes the responsibility of protecting it against potential risks. Car insurance is not just a legal necessity; it is a safeguard for your finances in case of accidents, theft, or other unforeseen events. Knowing how to manage premiums while securing strong coverage is the key to a smart purchase.
1. Compare Multiple Policies
Many first-time buyers accept the first plan offered by a dealer or aggregator without exploring other options. Taking time to compare multiple plans can help you find cost-effective choices that still provide extensive protection. By examining features, benefits, and claim settlement records, you can ensure that you choose the most suitable Maruti vehicle insurance for your needs.
2. Opt for a Higher Voluntary Excess
A voluntary excess is the amount you agree to pay before the insurer covers the rest of a claim. Selecting a higher voluntary excess can reduce your premium significantly. However, this should only be chosen if you are confident you can manage that amount in case of an accident or damage.
3. Choose Add-ons Carefully
Add-ons can enhance your coverage, but unnecessary ones can increase costs. Popular options include zero-depreciation cover, roadside assistance, and engine protection. It’s important to assess your driving habits, vehicle age, and local conditions before deciding which add-ons truly benefit you.
4. Install Approved Anti-Theft Devices
Security upgrades not only protect your vehicle but can also lead to premium savings. Devices approved by the Automotive Research Association of India (ARAI) are recognised by insurers and can make your policy more affordable. Installing such devices shows you are taking proactive steps to protect your car.
5. Select the Right Coverage Type
Choosing between comprehensive cover and third-party liability depends on your needs and the vehicle’s value. Comprehensive cover is ideal for new cars as it protects both your vehicle and third-party liabilities. As your car gets older, a third-party only policy might be more economical if it still meets your coverage requirements.
6. Maintain a No Claim Bonus
The No Claim Bonus (NCB) is a reward for driving safely and not filing claims during the policy term. Over the years, maintaining your NCB can significantly reduce renewal premiums. Good driving habits and avoiding minor claims help preserve this valuable benefit.
7. Renew on Time
Letting your policy lapse can lead to the loss of accumulated benefits, including the NCB. Starting the Maruti insurance renewal process a few weeks before the expiry date helps ensure uninterrupted coverage. Renewing on time also saves you from additional inspections and paperwork.
8. Explore Usage-Based Policies
If you drive your Maruti only occasionally, a usage-based insurance plan might be worth considering. These policies calculate premiums based on kilometres driven, making them more economical for low-mileage drivers. It’s a good way to match your insurance cost with your actual usage.
9. Park in Secure Locations
Where you park your car can influence your premium rates. A well-lit, secure area or a private garage reduces the chances of theft and accidental damage. Insurers often factor this into their risk assessment when calculating premiums.
10. Review Policy Details Regularly
Your needs and your car’s value change over time. During Maruti insurance renewal, review your existing coverage to ensure it aligns with your current requirements. Removing unnecessary add-ons and adjusting coverage can lead to meaningful savings without compromising essential protection.
11. Avoid Small Claims
For minor repairs costing about the same as your chosen deductible, it may be wiser to pay for them yourself. This approach helps you maintain your NCB, which results in lower premiums in the long term. Avoiding small claims also reduces the administrative burden of processing them.
12. Drive Responsibly
Safe driving not only protects you and your passengers but also improves your insurance profile. Following traffic rules, avoiding harsh braking, and staying attentive on the road lowers the chances of accidents. Over time, this can contribute to more favourable premiums and better policy terms.
Conclusion
First-time owners can reduce the cost of their Maruti vehicle insurance by comparing plans, choosing coverage wisely, and maintaining good driving habits. Timely renewals, security upgrades, and thoughtful use of add-ons further enhance savings without compromising on protection. Taking these steps ensures you strike the right balance between affordability and comprehensive coverage.
+ There are no comments
Add yours