Considering the fact that if the customer approaching the insurance company for getting his or her car insured, the premium rates will depend on the number of conditions fulfilled by the customer. The more the number of conditions fulfilled, the lesser will be the premium rates. These conditions include: -

1} age of the driver- if the driver is a teenager then the premium rates would be high and if the driver is a mid aged person then the premium rates would be less as till this age the driver becomes a responsible and experienced driver and the chances for meeting an accident also gets lowered.

2} safety factor- the maximum number of safety measures in the car helps in lowering the premium rates. The safety measures include central locking system, antitheft device, gear lock and many more.

3} condition of the car: - depending on the condition of the car and the year in which it was manufactured the premium rates are decided. This factor plays an important role while renewing of the car insurance.

In order to get the lowest premium rates in the market an individual before applying in the company for the car insurance, should carry out an extensive research in the market. This would result out in the opening of all the opportunities to the individual to decide with which insurance to go.

Suppose a person has to renew his car insurance and the company which he is approaching does not have separate schemes for the old cars. If the person opts for this scheme then he would have to pay the similar premium rates which an individual otherwise pays for a new car. But if the person carries out a simple research then he may find a profitable deal in some other company which might be offering special discounts for the old cars. In this way that individual would be benefited a lot. The research material may include

1} newspaper

2} magazines

3} internet

4} references from friends or relatives

In the recent time a lot of companies have come out with a new scheme on car insurance where these companies offer the normal premium rates for the first car which an individual will insure and on the second car of the same driver would be given a huge discount. The discounts will be available depending on the records of the driver.

Author: Franchis Adam

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Article source: Free Insurance Articles.