Best and Cheapest Low Cost Car Insurance
There are more than 20 insurance companies in India that provide car insurance. A variety of car insurance policy options are provided by these insurance companies. From these options, car owners can choose insurance for their car as per their requirement. But choosing the best and affordable car insurance policy is a difficult task for car owners.
For car insurance, the car owner has to pay a premium every year. Every car owner wants that he has to pay minimum premium for his car insurance so that the cost of car insurance can be reduced. In this article, we will discuss about what are the factors that influence you to get the best and cheapest car insurance policy and what factors you should take to get a Sabse Sasti Car Insurance policy. What things should be kept in mind? So let’s go through these factors in detail.
Most Cheapest Car Insurance Price Factors
- Driving record and Insurance Claim :
The insurance company takes into account the driving history and claim records of the car owner before providing car insurance to the car owner. If the car owner has a record of being involved in road accidents, violating traffic rules or other types of traffic related penalties, the car owner may have to pay an additional premium for the same.
The car owner is provided a quote by the car insurance company based on the claim history of the applicant and the information provided by the applicant. If a car owner makes frequent car insurance claims, the insurance company believes that he or she is likely to take more medicine in the future and this may lead to an increase in the car insurance price.
Additionally, a person who has a good driving record and claims record and has not made any insurance claims gets a chance to avail the No Claim Bonus. With this, you can get the cheapest car insurance policy by reducing your premium significantly.
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- Age of the car :
The age of the car is also considered one of the important factors. All insurance companies providing car insurance take full account of the age of the car while final calculating the car insurance price. A new car is more expensive to repair than an old car. So you may have to pay a higher premium for a new car insurance policy. It is recommended that you should get a comprehensive car insurance policy for your car insurance work. A comprehensive car insurance policy lets you enjoy the benefits of additional coverage and is also one of the safest car insurance options.
- Car type and features :
The type of car and its features are also an important factor in getting the cheapest car insurance policy. For a normal type of car, you can get a cheap car insurance policy but for luxury cars, you have to pay a higher premium. This is because the repair cost and spare parts of a normal car are cheap while the repair cost and spare parts of luxury cars are high and also their availability is not easy. Higher premium has to be paid for diesel cars as compared to petrol cars.
Along with this, some insurance companies also check whether your car has safety features or not. If you install safety accessories in your car, you can get a discount on your car insurance premium. In this way you can get the cheapest car insurance policy.
- Deductibles:
Deductibles are the cost that you have to pay to the insurance company at the time of insurance claim and the rest is paid by the insurance company. While taking a car insurance policy from any company, you must get information about the deductible. You can get a Best Car Insurance policy by taking car insurance from the insurance company that offers you the least deductible offer.
You can reduce the cost of works insurance premium through this if you own the vehicle if you own a certain amount of insurance claim.
- Geographical Location:
Geographic location is also a major factor affecting car insurance premiums. All car insurance companies evaluate the weather patterns, crime rates and number of claims and other risks in that area while providing car insurance. The higher the risk in your area, the higher the premium demanded by the insurance company. Hence the geographical location plays an important role in getting the cheapest car insurance.
- Car Use:
While providing car insurance the insurance company looks at the purpose for which it is going to be used. For example, car insurance used for personal purposes requires a lower premium payment, while car insurance used for commercial purposes requires a higher premium payment. You will have to provide complete information about this to the insurance company. If you give wrong information to the insurance company in this regard, then your claims may get rejected in future.
- Add – on :
All car insurance companies also offer add-on benefits to the car owner. Car owners can get additional coverage for their car by adding add-on cover benefits. Prominent among these add-on covers are zero depreciation, emergency road side assistance etc. If you opt for additional add-on cover, your premium amount increases. Hence it is necessary that you should choose the add-on cover as per your requirement to get the best car insurance. You can ignore it if you don’t need it.