Age, Gender, and Marital Status
The insurance companies believe that age is directly proportional to the experience of the driver. So, if a person has more experience in driving then he/she is least expected to cause an accident. Sometimes the gender of a person is also considered since most statistics reveal that usually men get more involved in accidents as opposed to females. Marital status is also important. Also, the marital status may contribute to less premium amounts since married drivers are less likely to get involved in rash driving. However, bear in mind that these factors can get negated by your driving record.
Accidents are unforeseen and regularly caused by factors like the place where you live. For instance, if you reside in a metropolitan area that is theft prone or thickly packed with traffic then your premium could be higher as compared to people who live in a rural area.
Your Car Model
If you own a car that has scored good during crash safety tests, strong chances are there that you would get a lower premium rates as compared to a driver who owns a car that scored less on the same test. Moreover, if your car is not much expensive then your premium would also be low.
The Usage of Car
The car insurance india company always takes into the account the usage practice of your car. A person, for instance, may use the car daily many times for commuting within a thick traffic. Another person, on the other hand, can use the vehicle just for weekend drives. The premium is calculated accordingly.
Engine Size of the Car
The engine size of a car is calculated as its cubic capacity. The insurance premium is sometimes also influenced by the size of the engine.
Different insurers use different factors for calculating premium amount, and thus it is better to compare all the policies at one platform. Always opt for a fairly priced policy that can enhance your livelihood. If a policy makes you pay very high premium then you may refrain from purchasing it. Similarly, if the premium is too low then you end up risking your financial stability just for a claim. Contact a professional and compare different quotes at GIBL before taking any major step.