Top 10 Frequently Asked Questions About Auto Insurance & Answers | Carmozo
What all fix our auto insurance premium?
Auto insurance (car insurance & motorbike insurance) premium always seems to be a burden on our life. While on purchasing a new runabout or at the time of renewal of its insurance, it’s compelling most of us to secure an extra finance. Sometimes it will overburden us. Hence, several people are forced to look down for a third party insurance coverage. In addition, people are intentionally daring to ride without a cover as well. Do you know, What all fix our auto insurance premium, the auto insurance premium is calculated under several factors, such as our age, prone to accident, geography, claim history, fuel, Value of vehicle and so on.Hence we are providing the most Frequently Asked Questions answers About Auto Insurance.
Let’s have a look at, What all factors which are influencing our insurance premium?
Yes, your car has a major influence on determining the insurance premium. The type of car with max safety features and have a secure history can drop the premium to lower level. Reportedly, simple cars have a lower premium than luxury/sports cars which posses the higher risk of theft and accident. Moreover, the modifications also become a factor of a count in premium.
Opting the fuel type is up to our convenience. Most of the time we won’t count it while filing an insurance policy. An insurance policy is concerned with the fuel and the mileage and efficiency of our vehicle.
Our Age and Gender
Yes, you read it correctly. Our age and gender have a definite influence on our auto insurance coverage. It is measuring over a comprehensive analysis of accident rate on our streets. Likely, ages below 25 are considered under this calculation.
Our place, especially where we mostly ride around also a factor of concern. The accident rate and prone to lose or an incident will higher our policy premium.
Model of the vehicle
As our vehicle getting older, the insurance premium is also will reduce. It is measuring with the IDV –insured declared value. The greater the IDV, premiums will also get higher and the coverage as well.
No claim bonus is one of it. It is a reward for being careful on the road and kept yourself safe and secure. Means, a gratitude for not making any claims over the entire year of the policy. This reduces the following premium amount.
The next one is the Voluntary deductible- This will depend upon the deductible amount you are setting at the time of coverage. The higher the deductible, the lower the premium. In addition, If you are using any anti-theft measure in the car, you are eligible for an extra discount as well.
There are numerous add-on coverages are available in the policy market. Each one is specific for definite events.These additional protection covers definitely higher the premium, but is more benefit, if we use it properly.
For More Check it out car insurance premium calculator
As a expertise in auto industry chores, we Carmozo is skilled to opt the suitable insurance coverage for any of your vehicles. To know more about What all fix our auto insurance premium, at doorstep please visit our expert’s click -> Car Insurance In Bangalore In and also you can download our Carmozo app available in play store. And if you have any suggestions or reviews regarding Carmozo insurance at doorstep please share with us on our official facebook page and like it if you really enjoyed our provided Carmozo car insurance service and at your place.