Car insurance is one of the most used insurance market because, by law, it is mandatory to drive with a car. The fact that it is essential and can not be dispensed with means that, when calculating car insurance, the price is a determining factor when choosing a premium or another. However, the fact that the most competitive product is contracted does not mean that you give up having good coverage. In this article we explain you some keys to calculate car insurance correctly and we offer you tips to use an insurance calculator.
When hiring insurance, any company analyzes numerous factors that influence when calculating car insurance and that, basically, have to do with the characteristics of the vehicle and the driver. In fact, it is one of the most complete insurance sectors in this sense, since it takes into account many aspects. However, you can not talk about an insurer or a cheaper policy than another at a general level, since the cost of your premium will depend on your profile (higher risk, more cost).
There are many variables that are used when calculating car insurance and that can modify the amount of your policy. In addition, many of them must be included in the insurance calculator to find out the final price of your policy. These are the most outstanding:
The age of the driver:
It is a determining factor. Statistics show that younger drivers are more likely to have an accident, which is a risk factor for insurers when calculating car insurance. This makes younger drivers (between 18-25 years) have to pay higher premiums and may even be rejected by some companies.
The age of the driving license:
The veteran status of the driver is another aspect that is taken into account when calculating car insurance. To more years of card, more experience and, therefore, lower the price of the premium.
Employment of the driver:
Some professions have, statistically, greater risk of suffering a loss. Especially, those that demand more displacement with the vehicle or that entail a higher level of stress or tension that can then be transferred to the car when driving. Insurers are aware of this greater risk, hence having one or another job influences when calculating car insurance.
Being a good driver and having a clean record of accidents is associated with being a less prone to accidents, something that is valued when calculating car insurance and is compensated by a reduction in the policy.
Place of residence of the driver:
The risks and accident rates vary depending on the area where you live. When calculating car insurance, this will be taken into account, since if you live in a highly congested area, the probability of having an accident is greater. Just as if you reside in an area of difficult access, for example, close to small mountain roads. The locality of residence also influences when calculating car insurance, and, according to the average accident statistics of each municipality, it can be more or less economic. Also, if the level of crime in the area where you live is high, the risk is higher and, therefore, also the cost of your insurance premium.
Parking place at night:
It is another factor that influences when calculating the cost of insurance, since if it is usually parked on the street the risk is higher than if it is in a garage and, therefore, the premium will be more high.
Brand, model, type of vehicle: companies also take into account the particularities of the vehicle to calculate car insurance . The displacement of the engine is one of the characteristics that affect the price of the insurance. The larger the displacement, the greater the power and the higher the price. The insurer also analyzes whether it is a gasoline, diesel, hybrid or electric motor. When calculating car insurance, the number of places in the vehicle is also taken into account, since the more available, the more expensive the policy, since the number of people who must be protected is greater.
Car registration year:
When calculating car insurance, a new vehicle is not the same as another vehicle with more years. The price of insurance for the latter will be less than for the first.
Extras of the car:
the accessories are also taken into account when calculating car insurance. The more you have your car (alloy wheels, xenon headlights, leather upholstery, a powerful stereo), the more risk the company assumes and, therefore, the higher the cost of the policy.
One last advice. When you have finished calculating car insurance and you decide to hire one, read the policy carefully, especially the fine print and make sure you understand everything that is detailed. It is also convenient that you analyze coverage by coverage to know what are the limitations and exclusions. This will avoid surprises and dislikes when you realize that you do not have a certain coverage the day you need it.