SIGN UP WITH AUTOMOBILE ASSOCIATIONS

Turning into a member of the Automobile Association of India (AAI) or its affiliates can make you suitable for certain rights. Among other things, it will bring you concessional premium rates from some insurers -the discount could be the lower of 5 percent or 200 on the own damage premium for private cars.

Likewise, if you install an anti-theft device approved by the Automotive Research Association of India (ARAI), you can claim a discount of 2.5 percent, subject to a maximum of 500, depending on the insurer. You can also hit the premium hike by buying your policy online and insuring only the resale value of your vehicle.