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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:
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.
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