We always look for discounts when we shop and especially vie for discounts when shopping for insurance. Reason: Most of us think it is a waste if we do not make a claim, as we do not get back any money. Motor insurance is one place where it is easier to avail discounts – on account of your/driver's profile, car model, city, age and low claim history. So, we tend to negotiate more and more here. However, it would pay to be a little careful if your bargaining skills are honoured. This mostly happens when a policy is bought through a broker. If you negotiate very hard with the broker, he may lower the value of your car, hence lowering your insure declared value and give you a hefty discount. For instance, your car is valued at ` 5lakh and you are asked to pay a premium of ` 10,000 for the policy. If you bargain with the broker, he might value your car at ` 4lakh, thus bringing your premium down by ` 800-1,000. Unfortunately, you won't be able to know this till you make a
Simple! Sensible!!
Investment Planning, Retirement Planning, Tax Planning, Financial Planning, Mutual Funds, Life Insurance, Wealth Management, Portfolio Management Services, Equity, Stocks, General Insurance, Medical Insurance, Travel Insurance, Financial Advisory Services, Personal Finance, Real Estate, Gold