Every time you are introduced to words like Car Insurance the first question that pops in your head is “what is the price of the car insurance?” Unquestionably, price plays an important role when buying car insurance. So, to buy a car insurance policy that fits into your budget and needs let us understand the factors that will determine your car insurance price.
Based on the following factors the price of your car insurance is determined:
These are the four main factors that directly influence your premium amount. Besides these, No-Claim-Bonus is another factor because of which your premium amount can fluctuate.
One of the best features under car insurance is NCB because it encourages drivers to drive safely by rewarding them for every claim free year with discounts on the car insurance premium in later years.
For instance, if you do not make any claim in the first policy year then in the second year you will be eligible for a 20% discount on your car insurance premium. The percentage of discount gets cumulated with uninterrupted claim free years. The maximum percent of discount that you can avail in the event of uninterrupted claim free years is 50%.
However, once you make a claim, you will lose your no claim bonus benefit. And in the event of your next claim free year, the subsequent year will start with a 20% discount on your car insurance premium.
Buying car insurance policy online is the easiest and quickest method. Here are some of the Best Car Insurance Plans available online. For any further assistance or queries regarding car insurance, feel free to reach out to us at email@example.com or 86559–86559. We have a team of experts to dispense unbiased advice to help you select the most suitable plan for your prized possession.
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