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Second documentHow Is Car Insurance Premium Calculated | Generali CentralOpen original ↗
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Did you know? According to a 2023 report by IRDAI, most vehicle insurance premiums in India are influenced by just three factors — the car’s model, the driver’s age, and the registered location.
How Is Car Insurance Premium Calculated?
In India, your car insurance premium is based on a number of things, including the type of vehicle, its Insured Declared Value (IDV), where it is located, how old it is, your driving record, and the policy you choose. Actuarial data and government regulations help insurers assess risk and set prices. Other factors that affect the final premium amount include add-ons, deductibles, and the No Claim Bonus.
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Our team will contact you shortly to provide personalized assistance with your insurance plan.