BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Your age
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Your gender
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Color of your car
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Your driving record
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Detailed explanation-1: -The IRDAI regulates the policy premiums for the third-party liability policy. And the premiums are based on the engine capacity of the car. Thus, the colour of your car does not have any direct impact on the policy premium.
Detailed explanation-2: -Some factors that may affect your auto insurance premiums are your car, your driving habits, demographic factors and the coverages, limits and deductibles you choose. These factors may include things such as your age, anti-theft features in your car and your driving record.
Detailed explanation-3: -The price of your car insurance premium also increases with the add-ons that you purchase such as zero-depreciation cover, cost of vehicle towing in case of a breakdown, increased third party liability, protection of NCB benefit, and many others.