ECONOMICS (CBSE/UGC NET)

ECONOMICS

INSURANCE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which factor does NOT impact the cost of your auto insurance premium?

A	deductible amount
B	the vehicle you are insuring
C	your credit score
D	your income

Explanation:

Detailed explanation-1: -Driving History Driving history will not have an impact if you are buying car insurance for the first time.

Detailed explanation-2: -Insured declared value/IDV. Insured Declared Value or IDV refers to the amount that reflects the current market value of your car. Car Owner. The make and model of your car. Safety features. Coverage required. Frequency of claims.

Detailed explanation-3: -Age – This one of the critical factors that affect the premium amount. Past Medical History – Occupation – Policy Duration – Body Mass Index (BMI): Smoking Habits – Geographical location: The Type of Plan You Choose: More items

Detailed explanation-4: -Type of Policy: The type of policy you select will impact the premium you will be required to pay. Coverage Amount: Age: Sex: Smoking or Vaping: Health: Lifestyle & Occupation:

There is 1 question to complete.