A bonus for safe drivers
Another way to reduce the price of insurance, is patience – and caution – to garner a bonus coefficient up to 50%, it is not yet reached. Applied to almost the entire premium excluding taxes, this bonus can halve the amount payable.
Malus: attention, rapid descent!
However, things go much faster on the side of “penalty”. Each accident for which the insured is responsible resulting in a coefficient of increase of 1, 25 only consolation this penalty is not applied to drivers who have the maximum bonus for three years for their first accident liability. Because this penalty applies as many times as there are accidents in a year.
A person with a bonus-malus neutral of 1 that causes three accidents is found the following year with a penalty of 1, 95 (1 x 1.25 x 1.25 x 1.25) and insurance premium almost doubled! The penalty is capped at 350%: a contribution of 1,000 $ then culminates 3,500 $. And after two years without a hitch, the penalty (that is to say, anything above 1) automatically disappears.
A system for penalizing young drivers
This mechanism weighs on young drivers, who have not yet acquired a solid experience and have a statistically higher risk of accidents than experienced drivers. Because the penalty is in addition to premiums sometimes applied to those who provide for the first time.
The rules allow insurers to increase their base rates up to 100% for these risk categories, that is to say that the rate is doubled. Conversely, when the young won his license through early learning driving, this premium may not exceed 50%.
It is removed after two years without an accident in the first case, after a year with the accompanied driving. It was only after the counter snaps bonus.
Essential driver protection
In the world of cheap no deposit car insurance, there are a forgotten case of an accident the driver is responsible. Is not considered a victim, he is not entitled to any compensation, with dramatic consequences for the key in case of death, disability or long work stoppage with expensive care.
To correct this failure, insurance is required: the “guarantee individual driver.” Offered by all companies, it can be compensated as a victim if the worst happens (better check the limits of compensation). It is an extra expense, but it is really necessary.
Originally posted 2013-06-29 11:04:04.