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Cars have become a key aspect of our daily life without which our day-to-day movement gets hampered. When going in for car insurance, one should do proper research to understand key terms and aspects of vehicle insurance in India. Without understanding the nitty-gritty of vehicle/car insurance, you may wonder how the insurance premium varies even for the same model.

What are the factors affecting Vehicle/Car Insurance Quotes?

  • Insurance Cover: The type of insurance cover you choose - third-party car insurance and comprehensive car insurance impact insurance premium prices. Third-part insurance coverage only covers damage to a third party in an accident. Comprehensive coverage is for both the insured and the third party and so entails a higher premium.
  • Safety Features: The safety features on your car like gear lock, anti-theft device, airbags etc. also impact the premium paid. The more the safety of the car and the passengers are assured, the lower will be the premium.
  • Place of Residence: The city/town where you reside has an impact on the premium to be paid as bigger cities have huge vehicular traffic and a higher risk of accidents, so may have to pay more premium.
  • Engine Make: Your vehicle/car engine type also happens to influence the insurance premium to be paid. Diesel engines are more expensive than petrol run engines, so insurance premium is higher for them.
  • Driver age/experience: The age/experience of the driver also has a bearing on the insurance premium to be paid.

Points to Remember: 

Various factors influence Vehicle/Car insurance quotes.

One should understand these factors before buying a Vehicle/Car insurance policy.

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