1. Do you think the car premium should be based on driver profile (age, profession, lifestyle, marital status) along with car model & location?
Yes-63% No-31% Can’t Say-6%
Almost two-thirds of the respondents think car premium should be based on driver profile with car model and location.
2. Do you think the car premium should be based on number of kilometres driven in a year, distance to work place?
Yes-64% No-32% Can’t Say-4%
Almost two-thirds of the respondents think car premium should be based on number of kilometres driven and distance to workplace.
3. Do you understand what your car insurance covers and who will reimburse you in case of accident?
Yes-65% No-26% Can’t Say-9%
One-fourth of the respondents do not understand what car insurance covers and who will reimburse in case of accident.
4. Did you buy car insurance based on recommendation of car dealer?
Yes-30% No-62%
Can’t Say-3% Not applicable-5%
Almost one-third of the respondents bought car insurance based on recommendation of car dealer.
5. Did you shop around for the lowest insurance rate?
Yes-41% No-51%
Can’t Say-5% Not applicable-3%
Half of the respondents did not shop around for the lowest insurance rate. 6. Will you change your car insurer based on lower premium offered by another insurer at a 20% lower premium?
Yes-57% No-23%
Can’t Say-18% Not applicable-2%
More than half of the respondents will change car insurer if 20% lower premium was offered by another insurer. 7. Have you used Web aggregator sites like policybazaar.com, MyInsuranceClub.com to compare car premium?
Yes-27% No-71% Can’t Say-2%
Over one-fourth of the respondents have used Web aggregators to compare car premium.
8. If yes, did you find value in the comparison offered by Web aggregator sites?
Yes-21% No-16%
Can’t Say-11% Not applicable-52%
Over one-fifth of the respondents have found value in the comparison offered by Web aggregator sites.