Here are 5 Tips for maximizing car insurance coverage


25 Jul 2023

Maximize your car insurance coverage with 5 tips: buy online, use premium calculator, avail discounts & add-ons. Learn more with Kotak General Insurance.

If you have car insurance, you would obviously have purchased the coverage as per your preferences and needs. It is not necessary that you renew the policy keeping the features constant throughout, as there are ways through which you can enhance your insurance cover whenever the need arises. Let’s get to know five simple ways to maximize your car insurance cover:

1. You can buy car insurance online:

If you want to purchase a car insurance policy, you can opt for buying car insurance online. There are several benefits to purchasing a policy online. You can compare multiple plans, check for online reviews, determine the insurance premium, and check whether the company is registered with IRDA. At the same time, you also need to understand policy exclusions. Buying car insurance online gives you the flexibility to choose a policy that matches your preferences.

2. You can avail of discounts:

For instance, many prefer to buy four-wheelers mostly during festivities or when there are offers on vehicles. This is also an apt time to maximize your car insurance coverage as you can take advantage of the discounts offered by insurance companies during the festive season. So, whether you are buying a policy online or offline, always remember to check the policy in detail.

3. You can check for No Claim Bonus (NCB):

NCB is the premium discount you get on the own damage portion of the insurance when you haven’t raised any claim during the term of the policy. This can be availed at the time of policy renewal, which needs to be done within the due date. There are chances of losing the NCB benefit if your policy expires. Typically, the discount on the premium is 20% for the 2nd year, and in the 5th year, you can get around 50%. Availing discount helps you get reduced premium rates.

4. You should use the premium calculator:

Before you buy a car insurance policy, you can evaluate the premium payable for the policy. A lot of factors are responsible for the premium rate; these include – the age of the vehicle, type of car model, location, and type of cover. For instance, Kotak General Insurance allows users to determine the annual premium for their car through a car insurance premium calculator.

5. You can opt for add-on cover:

Every insurance company offers add-ons if you have chosen a comprehensive car insurance policy. Some of the optional covers include daily car allowance, depreciation cover, engine protection, consumables cover, return to invoice, loss of personal belonging, and roadside assistance, among others. This is an ideal way to enhance your insurance cover as it provides added protection; however, you are required to incur additional charges if you opt for any of them. The final note:

So, if you purchase a comprehensive car insurance policy, you can use some of the tricks mentioned above to maximize the policy. If you purchase Kotak Car Secure, a comprehensive car insurance, you get the flexibility to design the policy by choosing deductibles, riders, and IDV for your vehicle. Basically, you can customize as per your needs which otherwise isn’t possible when you have third-party insurance.

Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.