Car Types and Its Impact on Car Insurance Premiums

In India, Insurance is seen as a heavily complex matter and a necessary evil. Thus, most purchase car insurance merely because it is made mandatory by law. But what most do not realize is that purchasing insurance is pretty simple nowadays. With the advent of online policies and facilities of comparing and contrasting various car policies; You can choose the best fit and enjoy all the security and benefits that come with the policy.

One of the most sensitive points for any customer is the car insurance premium that he/she is required to pay. Most are unaware of the nitty-gritty involved in the calculation of the premium amount. We solve the riddle to an extent by throwing light on one of the important parameters used to calculate your car premium i.e. your car type. Stay hooked!

The correlation between the car type and the car insurance premium

Most believe that the car model and make do not affect the payable premium amount. But the fact is that it plays a vital role in determining the premium amount. As a thumb rule, you need to pay a higher insurance premium amount for a more expensive car.

To understand this further, let … Read the rest