We always keep looking for various ways to reduce the cost of the product we buy, so that the deal becomes cost effective without compromising on its benefits. And if the cost of the product is on a rise, then making the deal economical becomes our prime concern. The same goes with a car insurance policy.
On the basis of cost inflation and claim statistic, the cost of car insurance is revised every year by IRDAI and last year, the premium rate of car insurance policies was increased by 40%. The increasing price of car insurance is causing problems in the financial planning of many people, but there are many ways through which you can reduce the cost of car insurance premium and make it fit into your budget easily.
That’s why we have outlined some of the important tips which will help you to reduce the premium of your best car insurance policy and tackle the increasing price of car insurance in the most effective way without compromising on its benefits.