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Car accessories, extra fittings are covered at extra premium

These accessories and fittings are classified as electrical and non-electrical fittings in your car.

Please suggest the ways to reduce a car insurance premium.

—Anand

Here are a few criteria for getting cheap auto insurance.

Most car insurers in India offer up to 50 off on car insurance premium in case the policyholder is a member of Automotive Research Association of India (ARAI). If the car is fitted with an ARAI-approved anti-theft device, that too can offer you up to 50 discount on the premium.

Experienced drivers get better discounts compared with young drivers.

If the age of the policyholder is between 35 and 45 years, a 5% additional discount on premium is applied in the own damage section. If the age of the policyholder is between 35 and and 45 years, this discount goes up to 10%.

A few insurers also offer a discount of up to 5% on the basis of the profession of the car owner. Usually, such a discount is offered to a practising chartered accountant, defence and paramilitary servicemen, central/state government employee, teacher in government-recognized institutions and doctors registered with the government.

If this is your second insurance policy, you can transfer the no-claim bonus that you many have accumulated on your earlier policy. A no-claim bonus can offer a car owner of up to 50% discount on their own-damage premium.

Are accessories and extra fittings covered under a car insurance policy?

—Rohit

Yes, insurers do cover accessories and extra fittings at an additional nominal premium.

These accessories and fittings are classified as electrical and non-electrical fittings in your car. Under electrical/electronic fittings in the vehicle, the insurer provides a cover for items such as fog lights, music system, air-conditioner (if not as a standard fitment) and spoilers with brake light. Non-electrical fittings such as seat cover, non-electrical spoiler are covered as per own damage tariff on the value of such accessories.

Compressed natural gas (CNG) kit and bi-fuel system (as endorsed  in the registration certificate, or RC book) can also be insured but at an additional premium.

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