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​​​​If you own a vehicle, it is your responsibility to ensure its security by insuring it under motor insurance​. Besides, Indian government has mandated motor insurance for all vehicle owners. And on the same ground, many people buy motor insurance just to meet the basic requirement of law; thus end up buying motor insurance with just third party cover.

But think again! While we are already paying a lump-sum as premium towards our car insurance​ or two-wheeler insurance, would it be a wise decision to ensure only third party security and not yours? NO.

Rather, it would be a wiser that while you are buying motor insurance for your car or two-wheeler, in addition to the security of a third party liability, also ensure safety of your vehicle and yourself, by opting comprehensive motor insurance policy.

There are a nearly 27 insurance companies which offer motor insurance in India. And the list of motor insurance policies available in market is even longer. To pick the best option for your vehicle do a thorough research by comparing the different features and benefits offered under each motor insurance policy. One of the best things about the comparative study of different insurance policies is it gives you a better idea of best coverages available at best reasonable prices.

Often, people avoid buying a comprehensive motor insurance policy to avoid paying high premium amounts. But, if you do a proper comparative study you would realize that there are many motor insurance plans available in market which offer probably the most expensive coverage at quite reasonable premiums.

Factors that may decide your car insurance premium amount:


Which model of car you have?
One of the common factor your car insurance premium would broadly depend on is its model and make. Older models are generally considered to be more expensive and accident prone. Therefore, car insurance companies generally charge higher premium on such cars.

Where are you located?
Another factor that may play a role in deciding your car insurance is your location. If your house is located in a jam-packed or accident-prone area, there might be chances that your car insurance premium will be comparatively higher. In such case the maximum you can probably do to save on premium is hunt for the best price available by doing an online comparative study of different car insurance policies available in the market.

Ways to reduce your car insurance premium:

Opt for voluntary deductibles
One of the smart ways of reducing your car insurance premium is choosing the option of voluntary deductible. Nevertheless, the option of voluntary deductible is generally advised to the ones who have had a good driving record and are certain about their driving skills. If you fall in this category then opting for voluntary deductible at the time of buying motor insurance in India would be a smart way to save on premium amount.

Set up safety devices in your car
If you have installed safety devices in your car, then you might become the favorite of your car insurance provider, as such devices further ensure your car’s security which is a good factor for any car insurance provider. Thus, such an act can probably get you discounts on your car insurance premium.

In addition, a membership of the Indian Automobile Association might also bring make you eligible for more discounts on your car insurance premium.

A safe and cautious driver is the darling of any car insurance company. And if you take all possible precautions towards your car, then getting expensive coverage at reasonable cost under your car insurance premium might not be difficult for you. Drive your car smartly Be a smart about buying this surely helps!