covers your car against risks like theft, accident, explosion etc.
Car insurance protects you against loss of your car due to theft, accidents, fire, natural disasters and so on. It is a boon to you during emergencies and helps you cover against the subsequent financial liabilities. In most cases, the cover level of a car insurance Policy will include the Insured party and vehicle, as well as third parties, including people and car. The Premium charged for a car insurance policy is dependent on parameters such as gender and age of the owner, vehicle categorization and so on. Car insurance gives you the assurance to drive without worry but at the same time you must follow traffic rules. Car insurance today is mandatory by law in India.
However, you can be classified as a high-risk driver too. If you are labeled as a high-risk driver, finding car insurance can be a big problem. Some insurance companies will deny you the insurance itself, while others will charge you really high premiums. However, the irony is that many people have less than perfect driving records./p>
There are many factors and perceptions, natural and man-made, which could label you a high-risk driver. Common perceptions are:
It will take you a moment of carelessness to get the high-risk driver tag but take many years of safe driving to erase the label. However, it is not an impossible task and, if you have a clean record for three years, you can redeem yourself and get the benefits of lower premiums. There are still other ways to lower your insurance payments.
With a little effort and wise decisions, you can thus reduce your car insurance premium by a fair amount even when you are a high-risk driver.