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What Can Affect Your Car Insurance Premium

There are many factors that contribute towards the calculation of the insurance premium. Understanding them can help you make a well-informed decision when buying an insurance policy and will also enable you to cut down on your expenses.<br>Here are the factors that affect car insurance rates

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What Can Affect Your Car Insurance Premium

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  1. What Can Affect Your Car Insurance premium

  2. INTRODUCTION There are many factors that contribute towards the calculation of the insurance premium. Understanding them can help you make a well-informed decision when buying an insurance policy and will also enable you to cut down on your expenses. Here are the factors that affect car insurance rates. www.policyadvisor.in

  3. AGE Youngsters and young drivers are more prone to getting involved in accidents. So, they can incur higher Insurance premium rates. Older people who are married have more experience behind the wheels and tend to have fewer accidents. Your driving record to some extent can determine your insurance premium rates as well. www.policyadvisor.in

  4. WHERE YOU LIVE Your residence area has a direct relationship with your lifestyle and determines the probability of greater risk of accidents or theft. The city you live in whether metropolitan or village influences the premium you will have to pay for your car. Insurance providers have categorized the various cities across the nation under different zones, and this forms a basis of insurance premium calculation. Generally these zones fall under the metro cities and rest of India. www.policyadvisor.in

  5. CREDIT SCORE A lower credit score can mean a higher insurance premium. Your credit score is a tool to assess how responsible you are financially and insurance companies take this into account to determine your premium. www.policyadvisor.in

  6. PROFESSION Auto insurance companies may also correlate a person’s risk of accident with their profession. They can adjust the premium accordingly ¡f they think that you are more prone to accidents. For example, delivery drivers and Journalists who are mostly on the road can attract higher premium rates than other normal professions. www.policyadvisor.in

  7. FINAL WORD Now that you know the insider facts on car insurance Premium calculation, you can make the right decision to buy the right insurance policy for your prized possession It is very important to know what goes into the calculation of the car insurance premium so that you can learn how to get discounts. Compare different insurance policies, select the right coverage and choose the best plan that suits our requirements, budget, and lifestyle. www.policyadvisor.in

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