Question

Which among these factors are considered by the insurance companies to calculate the premium of car insurance policies?

A IDV Correct Answer Incorrect Answer
B Geographical location Correct Answer Incorrect Answer
C Year of manufacturing Correct Answer Incorrect Answer
D Cubic capacity Correct Answer Incorrect Answer
E All of the above Correct Answer Incorrect Answer

Solution

Most of the insurance companies like National General Insurance use the following factors to calculate the premium: IDV, Year of manufacturing, Cubic capacity, Geographical location, No Claim Bonus (NCB)

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