Choosing the right kind of HDFC car insurance can be very helpful in cutting down on the premium cost. The company not only offers affordable premiums but also gives its customers the most convenient options to make a claim. HDFC ERGO claim settlement ratio which stands at 100% is proof of the quick and easy claim procedures the company follows.
Here’s how you can save on the premium with HDFC car insurance:
Opt for Pay-As-You-Drive
Are you struggling due to the upfront costs of premiums? Now, you should not be worried because the HDFC ERGO Car Insurance offers ‘pay as you drive’ coverage. It is a great option that gives you an opportunity to pay the premium on the basis of the usage of the car. When you opt for this cover, the distance your car travels is measured by a device called telematics.
On the basis of the distance that is covered, the premium is charged. Consequently, this gives you the advantage of saving on the car insurance premium between 10-20% of your ‘Own Damage’ premium.
Renew your policy timely
Timely renewal of your car insurance is a crucial thing. When you buy any car insurance policy, you should read its terms and conditions carefully and be alert about when the policy expires. After the expiry date, the company gives a grace period of 30 days. However, in case of an accident you won’t be able to raise a claim during the grace period, as the policy is not renewed. After a period of 90 days, you would lose out on the accumulated No Claim Bonus also. Hence, it is highly recommended that you renew your policy on or before the expiry date.Choose add-ons that are necessary
You will get various add-on options with HDFC ERGO, but you need to select the best add-on according to your requirement, location and financial condition. The unnecessary burden of insurance premiums may not allow you to pay the premium on time. You get the option of reconsidering the add-on covers when you renew your policy and you can drop what is not useful. Consequently, you will be able to save your money by reducing the amount of HDFC car insurance premiums.
Invest in the suitable anti-theft devices
The use of the proper anti-theft devices serves dual purposes. On one hand, you will be able to protect your car from any theft; on the other, you will be able to get good insurance coverage from HDFC ERGO at low insurance premium rates. The use of anti-theft devices reduces the risk factor of theft and thus, the premium of your car insurance is also minimised. Therefore, you should use the anti-theft devices to protect your vehicle and also save your money.
Drive safe, get the most out of the NCB
When you buy car insurance, your past driving record is enquired about. On the basis of your good driving record, you can enjoy certain benefits. Not making a claim in a policy year qualifies you for a no claim bonus, which can get you up to a 50% discount on your upcoming premium.
Buy your insurance policy online
When you buy an insurance policy online, your insurance policy’s premium amount is generally less in comparison to the amount that you will have to pay if the policy is bought offline. The reason behind this is that you don’t need to pay for any advisor/ mediator when you buy the policy online.
Conclusion
Even today, the adage, “a penny saved is a penny earned” holds immense value. Most of us understand the importance of saving and doing whatever we can to save. The same is followed when it comes to car insurance. While it is an expense that you cannot do away with, these easy ways would allow saving on the HDFC car insurance premium that you pay.
