What is Insurance Premium?

Insurance Premium is paid as a cost to cover a possibly unseen devastating loss. It is the actual amount of money charged by insurance companies for active coverage. An insurer is the company selling insurance and insured is the policy owner.

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Car Insurance Premium Price

New India Assurance	Cashless Garages 253	Plan type Comprehensive	Starting from ₹ 2,727	Check premium	Claim Advantage Self-Video Claims Reimbursement Within 7 Working Days For Non-Cashless
National Insurance	Cashless Garages 268	Plan type Comprehensive	Starting from ₹ 2,757	Check premium	Claim Advantage Self-Video Claims Reimbursement Within 7 Working Days For Non-Cashless
Bajaj Allianz	Cashless Garages 1024	Plan type Comprehensive	Starting from ₹ 2,868	Check premium	Claim Advantage Spot Claims Upto Rs. 30,000 Repair service at select cashless garages
DIGIT	Cashless Garages Repair Anywhere	Plan type Comprehensive	Starting from ₹ 2,962	Check premium	Claim Advantage 6-Month Repair Warranty Advance claim payment Free Pick-up & Drop
Oriental Insurance	Cashless Garages 258	Plan type Comprehensive	Starting from ₹ 3,005	Check premium	Claim Advantage Self-Video Claims Reimbursement Within 7 Working Days For Non-Cashless
DIGIT	Cashless Garages Repair Anywhere	Plan type Third Party	Starting from ₹ 2,094	Check premium	Claim Advantage Covers damages to third party property Covers damages to third party person
Bajaj Allianz	Cashless Garages 1024	Plan type Third Party	Starting from ₹ 2,094	Check premium	Claim Advantage Covers damages to third party property Covers damages to third party person
Oriental Insurance	Cashless Garages 258	Plan type Third Party	Starting from ₹ 2,094	Check premium	Claim Advantage Covers damages to third party property Covers damages to third party person
National Insurance	Cashless Garages 268	Plan type Third Party	Starting from ₹ 2,094	Check premium	Claim Advantage Covers damages to third party property Covers damages to third party person
New India Assurance	Cashless Garages 253	Plan type Third Party	Starting from ₹ 2,094	Check premium	Claim Advantage Covers damages to third party property Covers damages to third party person

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Insurance is a form of risk management primarily used to hedge against the risk of a contingent loss. The insurance rate is a factor used to determine the amount (called the premium) to be charged for a certain amount of insurance coverage.

Insurance premiums vary widely among insurance providers, so it is advisable to get several quotes from various providers before committing. Both the Voluntary Excess and premium are inter-related.

They are part of the amounts to be paid for the coverage. When the Excess is high, the premium is automatically low and vice versa. These two parameters affect the cost of the insurance you purchase.

Written By: PolicyBazaar - Updated: 26 June 2021

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