Small cuts and dabbles to be insured, the previous year out of the next year's premiums rise how much? Here to tell?
Driving on the road, it is inevitable that some traffic accidents, and the best way to minimize the loss of accidents is to buy insurance, and in the event of an accident, most people think of the first way is also reported to the insurance, but after the insurance will certainly make the second year premiums rise.
More often than not, some hundreds of dollars can be dealt with small cuts, after the insurance premiums may be higher than the cost of repairing the car in the second year, so it does not seem cost-effective. Today I will help you to calculate, if the small cuts out of insurance, for the second year of the premium will have how the impact.
First of all, what are the components of auto insurance?
Usually, automobile insurance is composed of commercial insurance and compulsory insurance, compulsory insurance is the state mandatory purchase, including death and disability compensation, medical expenses compensation, property damage compensation, but compared to the general insurance, these three compensation amounts have a maximum limit. So usually, it is not recommended to pay only compulsory insurance, because its compensation amount is really very low.
Commercial insurance, on the other hand, includes vehicle damage insurance, third-party liability insurance, theft insurance, vehicle occupant liability insurance, etc. The formula for calculating automobile commercial insurance premiums = base premium * rate adjustment factor, where the base premium is determined by a variety of factors, such as vehicle price, zero-overall ratio coefficient, and so on.
Generally speaking, for a more than 100,000 family car, the benchmark premium is generally about 5,000 yuan, we also choose 5,000 as the benchmark premium for calculation.
Wherein, the rate adjustment factor = no claims discount factor (NCD factor) * independent underwriting factor * independent channel factor * traffic violation factor. The NCD coefficient generally fluctuates from 0.6 to 2.0, the independent underwriting coefficient fluctuates from 0.85 to 1.15 (this article adopts 0.85), the independent channel coefficient fluctuates from 0.75 to 1.15 (this article adopts 0.75), and the traffic violation coefficient is linked to the traffic violation record of the vehicle or the owner, which is adopted in this article as 1.
Don't understand? It's okay, let's look directly at the table below.
We can see that each year's commercial insurance costs are related to the car's insurance situation in the last three years. A base premium of $5,000 for a car with three consecutive years of no insurance costs only $1,913, while in the previous year, the cost of commercial insurance reached $6,375 when the car was insured five times.
Also worth noting is that the new car in the first year in the purchase of insurance is also to enjoy the discount, but usually 4S stores will require in-store insurance, this part of the discount difference is taken by the 4S stores, so there is a reason to buy a car with a large discount.
And in the compulsory insurance part, take the following table as an example.
Here, compulsory insurance for family cars with less than six seats, for example, the base number of 950 yuan per year, we can see that the insurance situation is different, the highest and lowest price has a difference of up to 570 yuan.
What is clear is that because the discounts on insurance costs are looked at three years forward, when the insurance is taken out can have a big impact on how much it ends up costing. Some claims that having up to two insurance policies a year won't affect the cost of insurance for the second year are untenable, and at best will be the same price as the cost of insurance for a new car.
Because as long as there is one accident in the year, then the insurance cost will have to start from the price of the new car insurance to start a new round (not taking into account the rate of depreciation of each car), and then slowly accumulate the uninsured years, this time the impact of the accident until three years later will be completely eliminated.
And if you're a good driver and have been continuously uninsured, you're going to get a discount on your insurance costs every year. And if you had an insurance accident the previous year, the discount shrinks and your insurance cost next year becomes the same as a new car, which invariably equals a rise.
In the end, comprehensively, small cuts and small rub a few hundred dollars can be dealt with, if the responsibility is on your side, then private may be more cost-effective to be able to place the second year's premiums go up, and if the loss comes to thousands of dollars, then report the insurance is more cost-effective.
This article comes from the author of the automobile home car family, does not represent the views of the automobile home position.