There are a number of factors that are looked up by motor-insurance providers that determines your final premium of car insurance. The below listed factors are some of the many factors that may affect your premium amount:
Registration City
The city where your vehicle is registered might be responsible for determining your car insurance premium. For instance, cars that are registered in metropolitan cities might have to pay a higher amount of premium as compared to rural areas. This is because the probability of the vehicle facing an accident increases in metropolitan cities.
Model
A vehicle manufacturing year and the model might also affect your insurance premium. This is because the potential risk factor depends on how old the car is. Also, some models can handle a collision without much damage, while some of them might get extremely damaged with the same intensity of crash.
No Claim Bonus Percentage
If you have not made any claims before, chances are that your insurance premium will be lesser. This factor plays a major role in determining car insurance premium. So the next time, think before making a claim over an inconsiderable scratch or dent on your car.
Type of Cover Taken
Opting for additional perks of car insurance like- CNG/LPG kits, road-side assistance, key replacement costs, etc. can eventually increase your insurance premium. So opt only for the ones that your really need.
Note: One of the ways that you can save up money while buying car insurance policy is to get it online. If you opt to buy four wheeler insurance online, you will be able to save the brokerage fee as well make the entire process easier.
Now, that you know the various factors that can increase your car insurance premium, you can save up some extra money keeping them in mind.
