When you take a home loan or buy a car, the insurance that comes bundled in isn't always the cheapest one out there.
Dealers and banks often tie up with specific insurers, and that convenience can quietly cost you ₹2,000–5,000 more a year on car insurance, or ₹20,000–40,000 extra as a one-time premium on a home loan.
That's money added straight into your EMI or upfront cost, with almost no one checking if it's the best deal.
What this means for you
- Your car insurance premium could be ₹2,000–5,000 higher each year if you just accept the dealer's offer.
- On a home loan, bundled insurance can add ₹20,000–40,000 to your loan amount — and you pay interest on that too.
- That's money that could've gone into your SIP or EMI buffer instead.
What you can do
- Before signing any loan or car paperwork, ask for the insurance quote separately and compare it on an insurance comparison website or directly with 2–3 insurers.
- If you've already bought bundled insurance, check if you can switch at renewal — most policies allow it.
A five-minute comparison today could save you thousands over the life of your loan.
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