Car insurance renewal tips to consider

Have these handy when you start the renewal process for your insurance policy!

Renewing car insurance can be tricky for any person looking to find the best car insurance deal out there. However, following the tips listed below can ease the decision-making process while renewing your insurance policy.

• Understand your needs – Different insurance policies suit different needs. It’s important to understand what type of policy fits your requirement, and opt for the most suitable one. Digit Insurance offers Standard Cover (Comprehensive) and Third-party Liability Only.
• Compare policies – There are multiple websites online that allow you to compare different insurance policies. Take some time to compare the different policies. Often this, by itself, will give you a degree of clarity on different insurance policies. You can also buy Digit Insurance from the online comparison and buying portal Policybazaar.com.
• Read the fine print – Once you’ve narrowed down the policies, make sure to read the fine print in the document. This will reveal all the hidden clauses and give you a clearer picture of the policy. This will also avoid conflicts in the future. Also, what’s great about Digit Insurance is that it has reduced fine print and also simplified the jargon which typically bogs down users.
• Calculate your vehicle’s value – Calculate your vehicle’s value and declare it according to your needs. A lower Insured’s Declared Value (IDV) means you pay a lower premium – but the insurance company, quite naturally, also gives you a lower coverage. Therefore, it makes sense to opt for a lower IDV only if your car is an older car, and vice versa. Digit Insurance, on the other hand, gives you a higher IDV for the same premium for most car models.
• No claim bonus – If you haven’t made a claim under your existing policy, the insurance company rewards you accordingly. Ensure that you claim the bonus after your policy matures, as it can reduce your premium drastically. With Digit Insurance, you may declare your NCB from previous policy and get further discounts.