• Vehicle type and age – An expensive new high-powered sports car will cost you more to cover compared to a ten year old 1.0 liter hatchback.
  • How the vehicle is used – Needing to drive regularly during rush hour or having higher than average mileage can increase your premium. Similarly if your vehicle will be used for business purposes, aside from commuting to and from a single place of work, this may cause an increase in premium.
  • Age – Being a young and inexperienced driver can result in higher costs.
  • Driving history – Penalties on your licence or convictions, crashes and claims can raise your premium.
  • Voluntary excess – Offering to pay a higher excess amount on top of the compulsory amount set by the insurer, which will apply should you make a claim, can lower your premium.
  • Where you live – Living in a high crime area can negatively impact your insurance cost.
  • Additional drivers – adding young or inexperienced drivers to your policy is likely to increase your premium.
When purchasing your cover it is important to remember that there are three main policies types to choose from:
  • Third-party only or TPO – This policy is the minimum legally required level of coverage for motorists in the INDIA. It covers liability for injury to others, whilst towing a caravan or trailer and damage to third-party property.
  • Third-party, fire and theft or TPF&T – This policy includes all third-party insurance coverage, but also includes theft of your vehicle, damage to your vehicle during theft and fire damage.
  • Comprehensive policy – The most wide-ranging coverage that includes everything covered by third-party, fire and theft along with medical expenses, personal effects, accidental damage, windscreen coverage and loss of or damage to your vehicle.
Once you’ve received your paperwork it’s important to keep your insurer up to date with any changes in your circumstances to ensure your policy is valid. Likewise, in the event of an incident or if your vehicle is stolen, you must contact your insurer immediately, even if you are not making a claim.