This video discusses the must do things that you need to do when you renew your car insurance policy Whenever you are renewing car insurance policy check whether you have taken a car insurance claim in the previous year In that case you will not be given a no claim bonus In case you have not made a claim in the previous year, you will be given a no claim bonus No claim bonus is 20% in the first year and it goes up to 50% for after 5 no claim years You also need to decide whether you want to take a comprehensive auto insurance policy or just take a third party liability insurance Till 6-7 years of the car, one should take a comprehensive insurance policy and after that one can consider taking only a third party liability insurance policy This covers damage and theft in the initial years when the impact is likely to be much higher During auto insurance policy renewals, you need to compare the premiums of auto insurance policy or car insurance policy You need to also compare the benefits and coverage For instance, are they providing personal accident insurance to the driver and owner? Are they providing cover to the passengers? Check out on the compulsory deductible since that can vary across auto insurance or car insurance policies Deductible is the initial amount that you need to pay from your end when you make a claim

You may find that in companies charging lower premiums, the deductibles are higher Also check out the IDV of the vehicle IDV is the Insured Declared Value One company might show a lower IDV and your premium could be lower due to that reason You also need to check out whether you can enjoy the zero depreciation feature In case of zero depreciation policies, no depreciation will be deducted in case of a claim While metal and rubber parts, the depreciation is 50% while for metal parts, the depreciation is based on the age of vehicle In the first 6 months of the car, there is no depreciation From 6-12 months it is 5% and it is 15% when the age of the car is 1-2 years If you are adding the zero depreciation feature, the insurance company will like to inspect your car