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Factors That Affect Your Digit Car Insurance Premium

Wish

Written by Sumit Arora

Updated Oct 16, 2023

Read this article to understand the factors that affect the cost of your car insurance premium at Digit General Insurance.

Your car is your most valuable asset. When purchasing car insurance, you must make certain that the premium is reasonable. The amount of your car insurance premium is influenced by a number of things. The key factors of your premium price at Go Digit General Insurance are discussed in this post.

Factors That Affect Your Digit Car Insurance Premium

Factors Impacting Go Digit Car Insurance Premium 

The following are the factors that affect the cost of your car insurance premium at Go Digit General Insurance -

  • Type of Cover

The two most prevalent forms of car insurance are comprehensive and third-party. Comprehensive insurance will cover both the insured cars' damages, repairs, and anything else that may arise due to unforeseen circumstances, as well as third-party liabilities. Third-party insurance only covers third-party responsibilities and damages. As a result, a comprehensive plan for private car insurance in India attracts a higher insurance premium as compared to third-party insurance. You may get third-party and comprehensive car insurance for your car with Go Digit General Insurance. Go Digit has also classified the vehicles in order to provide better insurance policies.

  • Modifications And Safety Features In Your Car

Insurers scrutinise the safety features fitted on your car. Safety features include airbags, GPS, alerts, and a central lock. If you have a proper safety system installed, your premium rates will be reduced, and vice versa. This is because insurance companies think that the safer the car is, the lesser the likelihood of an accident. When it comes to obtaining insurance, having a good safety toolbox in place will be quite beneficial. If you have safety features installed in your car, your rate will be reduced at Go Digit General Insurance. If your car, on the other hand, contains performance or appearance-enhancing changes, you will have to pay a higher premium.

You may also like to read:- Everything About Multi-Year Car Insurance Plans 

  • Types of Powertrain/ Engine

Your premium at Go Digit General Insurance will be higher if your car has a diesel engine since diesel cars are more costly. Insured Declared Value is a consideration in this case. It refers to the car's market value at the time of purchase. Premium automobiles have higher premiums than their less costly counterparts, which may be attributable to the same idea.

  • Your Line of Work

Surprisingly, your profession has an influence on the cost of your Go Digit General Insurance policy. If you have a profession that requires you to use your vehicle frequently, you will almost likely have to pay a higher premium. This is because the vehicle depreciates at a faster rate than the other cars covered by the insurance.

  • Geographical Location

The sort of terrain you reside in has a significant impact on your premium. If you live in a high-risk region where accidents are more likely, your premium will be higher, and if the risk is lower, your premium will be cheaper. Your residence location will be considered by Go Digit General Insurance when establishing the cost of your premium based on the risk factor involved.

  • Deductibles And Limits 

For an insured loss, the policy limit is the highest amount paid against your premium amount. Individual coverage at Go Digit General Insurance generally has its own limit, allowing you to adapt it to your unique needs. In addition, the more coverage you select, the higher your price.

Take Away

It is critical to compare plans before getting car insurance. The factors mentioned above are only a few of the many that affect your insurance price. Other factors may exist, and not all of them can be foreseen. As a result, it is always in your best interest to get insurance only after evaluating the advantages provided by a number of different insurers.

Also Read:

How To Claim Car Damages Due To Natural Calamity Under Car Insurance?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

Wish

Written by Sumit Arora

Sumit is an insurance industry veteran with more than 20 years in the industry. Sumit is a frequenRead More

Disclaimer

This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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