When your insurance company asks for an MVR (Motor Vehicle Report), they precisely want a complete performance profile of your vehicle including crash history, malfunctions and thefts, if reported, and other minute details that may be of significance during the premium calculation.There are several other terms involved in cheap car insurance premium calculations. Make sure you skim thru them all and research well before looking for car insurance online or offline.
After this legal minimum, you have access to various options. Hence you need to know the various factors that will affect the premium that you pay for the insurance of your car, and the kind of coverage you can enjoy.
You need to decide on the kind of insurance cover you want. There is the third party cover which is the basic. While the third party fire and theft has more coverage; but most people opt for fully comprehensive cover, which includes third party, fire and theft.
In case of third party cover and fire and theft, you need to know the level of financial indemnity cover being provided by the insurance company. Here it is worth getting as much coverage as possible, with some insurance companies offering unlimited liability. Rather than cheap car insurance, people prefer to opt for fully comprehensive, or all risks insurance policy, however many cheaper premiums can also offer the same benefits.