Buying insurance from car dealer is costlier, consider getting it online

Before buying, compare premiums online, and opt only for those add-ons that you need

If you are purchasing a new car, and decide to buy the insurance cover for it at the car dealership, instead of online, the premium you pay could be higher by as much as Rs 3,000-20,000 (and sometimes even more), depending on the model of the car.

Furthermore, the Chairman of the Insurance Regulatory and Development Authority of India (Irdai), Subhash Chandra Khuntia, recently expressed concern that insurance companies may in some cases be paying higher commissions to motor insurance service providers (MISPs) than permitted by the regulator. 

Auto dealers take the MISP licence to sell motor insurance. When