Factors that influence the premium of the car insurance

Listed below are some of the factors that influence the premium of the car insurance

Car related components-The make, type of fuel, model etc all matter when it comes to determining the insurance for the car premium. Generally diesel cars attract a higher premium when it compared to petrol cars.
Location-The car premium generally tends to be higher in urban areas and near highways.
Driver-The age and profession of the rider also plays a vital role in determining the premium of the car insurance. Multiple drivers leads to higher premiums.
Personal Factors- personal factors are also a big reason that decides the premium rate. Women pay less premium amount than men because they are considered safer drivers as compared to men. Customers’ age is another important factor that can push costs either up or down. People under the age of 25 years need to pay highest premium and person between the age of 50 years to 65 years are required to pay the least.

Listed below are some of the car insurance clauses and exclusions.

Any problems associated to the vehicle due to common aging and of a certain age of the car.
Consequential loss.
Mechanical breakdown of the car.
Wear and tear of the car components such as tires.
The policy won’t offer any cover for the damages incurred from using the car outside the geographical location of the country.
No cover will offer if the driver is driving an insured car without driving licence.
No cover will offer if the driver is under the influence of alcohol or drugs.
Damage incurred to the vehicle during a war or nuclear attack.
The policy does not offer cover if the car was damaged while being used for purposes other than what was mentioned in the policy.