The cost of insurance depends on several factors, including:
Type of insurance: life, health, auto, property, liability.
Sum insured: the amount of coverage affects the cost of insurance. The higher the sum insured, the higher the premiums.
Age and health of the insured: younger and healthier individuals often pay less for life and health insurance.
Condition of the insured object: for auto insurance, the age, model, and condition of the vehicle are important. For property, the material it is built from and its usage are considered.
Location: the place of residence or location of the insured object can affect the risks and, accordingly, the cost of insurance.
History of insurance claims: the presence of previous claims can increase the cost of insurance.
Selected options and additional coverage: additional options and extended coverage also affect the final cost.