3.Age of the driver and driving experience
Age of the driver and his driving experience adds to deciding the premium for his vehicle. Safe driving record definitely provides an edge to the driver. Also age is a factor considered.
4.Type of cover taken
Insurance cover and thus premium varies due to the type of cover taken too. Cover taken only for third party damage caused due to accident costs lesser premium than the one taken for both personal damage as well as third party liability.
5.Credit rating of the person concerned
Credit rating of the person applying for cover plays an important role in deciding the cost of premium. A good credit rating comes from a good track record of repayments which include payments of credit card dues, loan installments, insurance premiums in case of previous covers taken and many others.
Voluntary deductibles, if any, opted by the person taking the insurance policy would definitely add to lowering of the premium amount.