How can I reduce my insurance premium?

If you wish to reduce your insurance premium before purchasing a policy, the process is quite easy. You will just have to go through all the insurance policies that are available in the market. If you wish to renew your insurance policy with a reduced insurance premium, then you will have to contact your lender. An endorsement of the existing insurance policy will help you change the details of the policy. Thus, you can take help from your lender for the same. Also, you can reduce the premium amount by using a simple hack. Try to avail as much No Claim Bonus as possible. Avoid getting coverage for small damages like a broken tail light, and so on. This will make you eligible for NCB, which will then provide you with a discount on the premium payable ranging from 20%-50%.