93
5 min read
Does car fuel impact the premium of your car insurance? If so, how? Let us find out in this blog about petrol VS. diesel cars and how each variant impacts your car insurance.
There was a time when cars used to run primarily on petrol, while diesel vehicles were limited to trucks, buses and other commercial vehicles. With time and need things evolve and thus automobile manufacturers started producing diesel cars, which became equally popular as petrol variants. And now, the automobile industry gets introduced to new versions of both petrol and diesel cars that manufacturers are releasing every year.
In this blog, let us take a quick overview on car insurance policies and if the fuel variant of the car has a role to play in your policy.
There are many differences between petrol and diesel cars. But do you know if the fuel type of your car also influences your car insurance policy? Yes, most of them do because the premium of a car insurance policy offered by different insurers varies as per the fuel type of a car along with numerous other features.
As such, having car insurance is mandatory for every car owner in India. So, withstanding the fact whether you have a petrol, diesel or electric car, you must buy a car insurance policy for the vehicle to drive safely on the Indian roads. Further, having comprehensive car insurance is regarded as a great protection against a number of car related issues and damages. Thus, it is important to keep renewing your car insurance online every year so that the policy remains active and you keep receiving the benefits of the plan along with other features. For your convenience, you can use a car insurance renewal premium calculator to calculate the insurance premium of your car at the time of renewal.
So, coming back to whether a car insurance policy is influenced by the fuel type of a car, following are the two factors which primarily impact the car insurance premium
When it comes to engines, the cost of cars with diesel engines are usually more as compared to cars with petrol engines. This results in higher IDV or Insured Declared Value of diesel cars. Thereby, it affects its premium price because the higher the price of a vehicle the higher the premium you pay.
Also, as the expenses of repairing cars powered by diesel is more, the insurer charges a higher premium on your diesel-powered vehicles.
Below are some points that you may consider while choosing a petrol vs. diesel engine car:
As mentioned earlier, there are many other aspects that determine your car insurance policy besides fuel. These aspects also determine your decision to purchase a car – a petrol vs. a diesel car. Some of these points are mentioned below:
Conclusion
To safeguard your car from damage it is important to look for the best car insurance plan. As per your car fuel type and other requirements, you can choose the amount of coverage that you require to ensure the protection of your car. Just ensure that you buy the right plan for the right vehicle you have purchased to give your car an appropriate coverage.
In this regard, a car insurance premium calculator will help you in finding the right policy for your vehicle.
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
Does Car Fuel Affects Car Insurance Premium? Does car fuel impact the premium of your car insurance? If so, how? Let us find out in.
Can You Test Drive a Car in India Without Insurance? Keen to buy a new car for your family? The excitement starts when you visit.
Steps to Claim Car Insurance for Damages Caused by Natural Disasters Natural calamities can happen any time without intimation. These disasters give you the most.
Car Insurance Claim in Total Loss Car accidents have been on the rise in India over the past few years. Car insurance helps to cover.
Finest Crossover Cars and Their Insurance Rates in India Gone are the days when having a car was a symbol of luxury. These days, it.
Break-in Period for Car Insurance - Everything You Need to Know The feeling of owning a car is one that is synonymous with freedom and.
Checklist and Tips to Avoid Motor Insurance Claim Rejected There are some car insurance claim rules that you must know. The last thing you’d want.
Driving Four-wheeler Safely Through Waterlogged Roads Waterlogging is one of the ordeal experiences that most car owners often face during the monsoon season. The pits.
Make Your Car Monsoon Ready with Important Car Insurance Add-on Covers in India Monsoon is the most blissful season as it allows you to get.
Car Insurance Transfer from One Person to Another in India Looking to sell your existing car to get a new one? Do you know the.
Speak to our advisor
Corporate Office : Mahindra Insurance Brokers Ltd ( A Mahindra Group Company ) Sadhana House, Ground Floor, 570 P. B. Marg, Behind Mahindra Towers, Worli, Mumbai 400018.
Licenced by IRDAI License No. 261; License Validity : 17-05-2022; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2022 Mahindra Insurance Brokers. All Right Reserved.