The moment you buy a car, the car insurance is required. The insurance saves you from the loss arising due to a natural disaster or loss arising due to accidents or thefts. Not only does it safeguard your vehicle but the damage caused to the third-party by your vehicle as the third-liability cover is mandatory in our country. You can get online car insurance for a new policy and also pay renewal premiums online. Online car insurance process is easy and saves your time too.
The car insurance premium is dependent on various factors, and some of the factors can be well handled by you to ensure that you do not land up paying more than the required premium.
Key factors that will determine the amount of money you pay for your policy:
1. Car Type and Model
The type of vehicle that you drive, the safety devices installed in it, the condition of your vehicle all can increase or decrease your premium. The high-end cars are less susceptible to vehicle damage because of inbuilt safety devices so, and insurance provider may give discounts on premium because of it. The premium rate is also determined by the safety score set by National Highway Traffic Safety Agency.
2. Compulsory and Voluntary Deductibles
Both Compulsory and Voluntary Deductible is the amount of money that you promise to bear if the claim is made with the difference being voluntary deductible is optional, and the compulsory deductible is mandatory.
3. Geographical area of drive.
The car insurance premium is also decided to keep in mind where you reside and drive. There is a high risk of car theft, damage or accident in cities rather small town. So car insurance premium would be high in metros and cities rather than small towns.
4. Age factor
As the saying goes Youngblood is hot blood, so the drivers who are less than 25 years have to pay a comparatively high premium as generally they may get involved in risk driving as some of them are caress and will always drive at a high speed to show off but for the old generation they are past show off they drive carefully thinking of their families back at home.
The car insurance premium for males up to 25 years is also higher as compared to female counterparts because males drive more, and indulge in risky situations and adventure drives. However, as the age progresses, the car insurance premium for older men are lower than aged females if they exhibit safe and sound driving habits.