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<br>Have you ever wondered how the premium on your car insurance policy is calculated? Here are some factors that influence the premium of the car insurance policy.
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Have you ever wondered how the premium on your car insurance policy is calculated? The premium can be accustomed for any bonus or discount that the insurance is eager to offer you, but in any case, they are planned only after the insurer has preset a premium that they want to charge you. To get the best out of all you must do comparison of car insurance policy online. Here are some factors that influence the premium of the car insurance policy.
Insured Declared Value Insured declared value, or IDV, is the value that the insurer places on your vehicle to calculate its worth at the time of applying for car insurance. Motor insurance plans are protection policies. IDV is the highest amount that you can claim under a car insurance policy to recompense for any loss that arises from theft or accident. So, if you undergo a total loss in an accident of your car that is worth Rs 4 lakh at the time of the accident, under no conditions will you be remunerated for more than Rs 4 lakh.
When you are purchasing a new car insurance policy, then the IDV will be calculated on the basis of its showroom price.When you buy a new car and are getting insurance for it, the IDV is calculated on the basis of the price of the new car, i.e., its ex-showroom price. www.policyadvisor.in
Cubic capacity of the car Each car has an engine size, which is calculated as its cubic capacity. The size of the engine influences the insurance premium that a person has to pay under a third party insurance cover. Engine capacity is not a condition used for scheming premium for a comprehensive cover. Features, apart from that age of the car, like your occupation, age, the model of car, and your driving experience plays a major role. www.policyadvisor.in
Use Car Insurance Calculator To Buy The Best A car insurance calculator allows a person to calculate the premium of a car. Undeniably, car insurance calculator is a precious tool that assists a consumer to get the best car insurance plan. It enables comparison of different insurance plans online within a few clicks. Car insurance calculator helps consumers to estimate their insurance requirements and get a suitable plan accordingly.
Car Insurance Premium Renewal Customers who already have policies for their cars need to renew the policy at regular intervals to get all profits. A person can use an online insurance service to do car insurance renewal.
