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India is a booming market for every sector. Therefore, the number of people who can be customers to a company is also high. Insurance is a fiercely competitive sector where companies are hungry for sales and they aim to improve their business with a larger customer base.
To hold back their customers from switching to a different car insurer, insurance companies offer many perks to customers. As customers, whenever the insurance company offers discounts, loyalty points, etc. on your car insurance, it is natural to feel obligated to stay back with one insurer and enjoy the convenience and the comfort provided by the company. However, have you wondered if there are any downsides to this?
Work and other daily commitments make it difficult to pay attention to the motor insurance policy that we own. The insurance companies bank on this and woo their customers with facilities like door step service, online policy renewals, etc. It may be possible that many of you might not even have taken a look at the car insurance policy renewal certificate to know the details of the payment. The insurer may or may not have offered you the discounts and bonus applicable for staying loyal to the company. Therefore, it is important to understand both the negatives and positives of staying only with one insurer for a longer period.
Hence, to answer your question, the benefits and facilities that are provided while you change your insurer depend upon the insurer you chose. However, it is possible to negotiate with your current insurer to upgrade the policy and provide you with some discounts for renewal premium amount. But if you are looking to change the insurer, then make sure to get a deal that is worth your time. You can easily browse for any plans online on either insurer’s website or on any neutral third-party website to compare the plans.
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