We introduce you to some of the factors that influence when determining the price of a policy. Calculating insurance is easy.
The premium is the price that you have to pay for your car insurance. How do insurers calculate it? We introduce you to some of the factors that influence when determining the price of a policy. In this way, you can understand why the value of insurance varies considerably from person to person.
THE TYPE OF INSURANCE: it will not be the same premium to pay if you contract the basic coverage of Civil Liability as to the coverage Against All Risk, the most complete in the market. Why? Because the greater the amount of risks covered, the greater the insurer’s responsibility when assuming them. Therefore, as a general rule, an insurance policy against third parties will be the most economical option; As coverage is added, the policy’s value will increase.
THE TYPE OF VEHICLE: the type of vehicle to be insured is a determining factor in the premium value. The variables that companies consider are brand and model, antiquity; power; fuel type, mileage traveled. How do these items influence the value of the fee? because the helmet coverage is calculated based on the accident rate and the insured sum or the vehicle’s value. This means that the more value your car has, the higher the price of the insurance. On the other hand, if the car has many kilometers of travel, it is given a lot of use. So, for the insurer, the calculation would be + mileage + use + loss risk = higher insurance fee.
THE DRIVER’S PROFILE: An adult and experienced driving person will pay much less for insurance than a young driver with little experience behind the wheel. This is simple logic: the chances of a young novice being involved in an accident are much greater than an adult with several years and miles of road under his belt. On the other hand, statistics indicate that women are less likely to be involved in accidents than men. Consequently, you can already deduce that the so-called “weaker sex” will have a much cheaper premium to pay than the male representatives.
To have a value of what you will pay for your coverage, we recommend you calculate insurance through the online quote to know the value of the fee you will have to pay each month for the type of policy you have chosen.