Know How Claims Affect Your Car Insurance Prices

Having an appropriate car insurance is both prudent as well as beneficial. A policyholder must pay premium annually to continue the policy in the long run. However, premiums can vary depending upon the type of policy and the add-ons you have selected in the policy. Besides, claims also have an impact on the premiums. Different types of claim or no claim make changes in the profits of insurance companies. Thus, insurance companies decide the prices of policies based on claims and various other factors such as the IDV of the vehicle, city in which you reside, etc. related to car insurance. 

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