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Best tips to Save Money on your General Insurance Premium

Best tips to Save Money on your General Insurance Premium

When we talk about General Insurance, it’s all about the Insurance products such as Health Insurance, Motor Insurance, Travel Insurance and Personal Accident Insurance etc. The domain of Insurance coverage is divided into two categories – Life Insurance and General Insurance. Life Insurance products don’t come under General Insurance. There is a short-term period contract between the insurer and the insurance company for all General Insurance products. For which the Insurer has to pay an amount as a premium for the offered coverage.

There are two common terms that you will come across when it comes to General Insurance, Sum Insured and Premiums. The sum insured is the coverage, the maximum amount an insurance company would offer you as a risk coverage. And the premium is the amount you pay to keep the policy in force.

If you are thinking either to Insurance your vehicle, getting a health insurance for yourself and your family, or buying a travel insurance for your planned trip, you would naturally wish to save money on premiums. Read further to know how you can save on general insurance premiums, either when you are buying for the first time or at the time of a renewal.

Here are some best tips to save money on your General Insurance Premium:

Go online and compare:

Go online and compare different insurance policies offered by various insurers. Online comparison of insurance policies is the easiest and the best way to save money at the stage of buying and renewing of the insurance policy. Click here to check & compare plans.

Motor insurance:

Since it is mandatory to have a motor insurance as per the Motor Vehicles Act, 1988 in India. Spare some time, and compare car insurance policies or if you are interested in getting a cover for your two-wheeler, compare two-wheeler policies and save money on premiums.

Health Insurance:

Whether you wish to buy a health insurance for yourself or your family, the right approach is to compare health insurance policies online. By comparing various health insurance policies side-by-side on the basis of inclusions and exclusions, you get an opportunity to select the right health insurance policy and save money too.

Travel Insurance:

Are you traveling abroad or planning a family vacation? Then, travel insurance is what you need. Whether it’s a single trip or multiyear trip in a year, compare travel policies to choose the right travel insurance policy.

Use our Online Premium Calculator:

Don’t have any clue about how insurance works? Not sure how to save on premiums in the pursuit of buying the right type of insurance policy? Get some help, check out insurance calculators available online.

Motor insurance:

We take pride in sharing knowledge and guiding you in saving money. Check out PTIC INDIA’s car insurance premium calculator and two-wheeler (bike insurance) premium calculator.

Health insurance:

Check how much it will cost you to buy an individual policy and a family floater. Again, check how you can save money, get benefits of no claim bonus, or check if a super top plan is suitable for you, check full details on the health insurance premium calculator.

Travel Insurance:

Is a single trip policy right for you? Or do you need a multi-trip one? Not sure about the ideal medical coverage you should opt? Know inclusions and exclusions, and how factors influence your insurance policy, check the travel premium calculator. Get all the facts straight and save big on your travel insurance policy, and use the savings to enjoy your trip.

Renew your Policy on Time:

If you already have a car, bike or health insurance policy, it’s advisable to renew it on time. Any delay in paying of premiums may lead to the termination of the policy. And if not, you may end up paying a higher amount of premiums to keep the policy in force. Moreover, you may lose the No Claim Bonus benefit, a discount on bike and car’s insurance premiums. While, in health insurance, a no claim bonus means an increase in the sum insured (coverage), a delay would lead to losing the benefit and also the termination of the policy. Do not delay. Renew it on time.

Talk to an Experts:

Short on time? Get in touch with PTIC INDIA’s team of insurance experts. Our executives are here to guide you all the way, right from comparing, choosing, and finding the right policy to claim settlement, while you keep safe your hard-earned money in your pocket. We understand your needs and are ready to guide our cost-savvy customers.

Stay covered, stay happy!

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