One cannot do away with automobile insurance. Car insurance provides peace of mind and economiccushion to the driver and passengers. Several factors influence car insurance premium. Knowledgeof these factors can help in deciding the right car and the right auto insurance cover.
Most common factors that influence auto insurance are the model and make of the car, fuel options,safety devices, driver's age and car accessories etc. One should make careful choices whilepurchasing a car in order to derive the apt insurance benefits. One must understand that expensivecars demand higher insurance premium. One must be careful while buying sports car or classic cars.Buyers who opt for diesel cars tend to pay higher insurance premiums as compared to those withpetrol variants. Insurance companies believe that diesel cars are used more rigorously as they arefuel-efficient. Rigorous usage can lead to excessive wear and tear. This would affect the life of thevehicle. Insurance providers are of the opinion that diesel vehicles depreciate faster than the petrolcars. Buying a petrol car can help in lowering the insurance premium.
One can avail lower insurance premiums for cars equipped with safety devices. These safety devicesneed to be approved by the state laws. Presence of safety devices like burglar alarm, steering locks,air bags and GPS/ Non-GPS based security trackers can help in lowering the insurance premium byabout 10-15%. One must consciously invest in safety devices for the car in order to safeguard thevehicle and passengers.
Cars purchased for non-commercial use attract lower premiums. Similarly, cars driven in a non-metro area will attract fewer premiums as compared to metro driven cars. Statistics reveal that carsin the metro area are more prone to accidents compared to non-metro cars; hence, car owners inmetro cities pay higher premiums. Profile of driver also influences the car insurance amount. Driversbelow the age of 30 fall in high-risk category. Market trends reveal that younger drivers are reactiveand hence they tend to drive rashly. Drivers with spectacles or eye surgery will pay higher premiumsas compared to the drivers with perfect eyesight.
One can lower his insurance premium by buying a petrol car equipped with appropriate safetydevices. Clean driving record and perfect health also help in lowering car insurance premiums.Drivers above the age of 30 will pay low insurance premiums. One must always research onlineabout different types of automobile insurances before buying an insurance cover.