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Friday, September 08, 2017

By Kamal Swami

How to Minimize Your Costs of Driving a Personal Car?

How to Minimize Your Costs of Driving a Personal Car?

Undoubtedly, buying a car is one of the most thoughtful decisions made by a person. To buy the dream car a person saves lots of money from his income so that he can buy the car that meets his requirements. But, do you know that maintaining the car is also a daunting task for the car owner? This might come as a surprise to lots of people because for them car maintenance just means regular cleaning, servicing, fueling and checking the pressure of car's tyre. Interestingly, all these activities are just a part of car maintenance, but not the entire car maintenance routine.

There are lots of additional expenses which the car owners have to pay for enjoying a flawless drive. Often, these expenses are quite low, for instance changing the oil, air filter, replacing the horn or tyre tubes etc. But, apart from this, there are lots of expenses which require a huge sum of money in the maintenance of the car too. Let us, for instance, assume that while coming back to home from office, your car gets hit by another car. In this incident, although you were driving in your proper lane and the accident took place due to the mistake of another driver, you are compelled to pay for the repairs.

Car Insurance

This might be quite a difficult situation for you as you have to pay for the mistake of another person. Interestingly, acknowledging the concern of car drivers, there is the provision of car insurance for protecting them. The facility of insurance for a car protects the owner from the worry of unfortunate expenses and helps them cope with a tense situation. Because the above-mentioned incident of an accident is just one possibility, there might be various incidents such as burglary of your car, natural calamities, riots etc. in which your car gets damaged and to cater those expenses, the provision of car insurance facilitates you to get the amount of damage recovered from the insurance company depending on the terms and conditions mentioned in the contract.

Benefits of Car Insurance:
The benefits of car insurance can be summarized as below:

  • 1. Offers financial help to survivors in case of death in an accident;
  • 2. It offers you financial help to fight in court against the legal allegations imposed on you due to an accident;
  • 3. Helps in overcoming the expenses arising due to repairs because of an accident;
  • 4. Offers financial assistance in case if your vehicle is stolen or damaged due to any reason.

From Where to Buy Car Insurance Policy?
Today, while understanding the importance of car insurance, you can find a plethora of insurance companies offering attractive schemes to car owners to get their car insured by them. You can check out insurance policies that offer roadside assistance and other good add on covers. Companies like Reliance General Insurance even offer free road side assistance along with its car insurance policy.

Which Car Insurance Plan is Best for Me?
It is one of the most common questions which every car owner faces when he gets his car insured after the expiry of his first insurance plan. In this regard, there are various options available to them.

The Myth about Comprehensive Insurance:
There is a myth among the car owners that getting comprehensive insurance will push them towards extra expenses, and therefore they just settle for third party car insurance. Whereas, the fact of the matter is that the third party insurance is sometimes costly compared to comprehensive. According to the sources of insurance companies, the people opting for third party insurance have faced more financial trouble than the one faced by the third party. Having comprehensive insurance offers security to both the insured and the third party. The third party insurance compensates only to the third party and not to the first party.

Take Help from The Insurance Broker:
Young car drivers find it difficult to decide an interesting insurance plan for their car. Such car enthusiasts should take help from the brokers to avail the best plan for them.

Select an Used or Low Priced Car for Insurance:
If you are a novice driver then it would be better for you to minimize the cost of insurance by driving a car that is low priced or used. Doing this makes the insurer understand that you are new to driving and therefore will be at a higher risk.

Minimize the Cost of Fuel:
Although in recent times there is a decline in the cost of fuel since past few months, but,since petrol is non-renewable fossil fuel, its price is bound to increase. The best way to get rid of this problem is to search for the petrol station that charges the right price for fuel. This might surprise you but the prices of all petrol stations are not same and there is a slight difference in their prices. Doing this will not only let you pay less amount for the fuel but also benefit you by filling few extra drops of fuel in your car.

Pool Travelling:
If your colleagues live close to your residence then instead of driving your car regularly to the office you can plan for pool travelling where all of you will share the cost of travel.

Driving Style:
There is a belief among the people that driving at high speed offers excellent fuel efficiency. The fact is that driving at high speed will affect the mechanism of your car and it will consume additional fuel, than the required. It would, therefore, be better to drive at standard speed.

Check the Pressure of Your Car's Tyres:
The properly filled tyres consume less fuel compared to flattened tyres. While driving, make sure that the tyres are filled with recommended air pressure, to ensure smooth driving.

Use Air Conditioner Only When Required:
Try to avoid unnecessary use of air conditioner while driving. It is seen that lots of motorists keep the air conditioner on even if they go for shopping, doing this not only affects the working efficiency of the engine but also increases consumption of fuel.

Regular Servicing:
Getting the car serviced from time to time is helpful in detecting issues of your car mechanism and rectifying them on time prevents you from high expenses.

Find The Car that Fits Your Budget:
From the years having a car is considered as the symbol of high status in society and therefore following the blind race lots of people buy an expensive car for driving. You need to consider your budget while buying a car. This will also help you control your maintenance costs.

Keeping these factors in mind will definitely help you in minimizing your driving costs.

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