Even though nearly everyone is aware of the average costs of car insurance, not many know specifically which costs are involved in the price of the same. The whole price could be described in the following components: absolute premium, acquisition expenses, exploitation expenses, commercial premium, rights of emission and financial charges.
The absolute premium includes the fee for the civil responsibility, which will vary according to the type of vehicle, its use and own characteristics, and also is conformed by a percentage determined for each insurance company in relation to the possibility of accidents, applied to the sum assured depending on the type of coverage selected. The acquisition expenses are the commission of the insurance assistant and the exploitation are the ones assumed by the entity in order to operate. The three facts mentioned above constitute the commercial premium. Some entities also charge the emission rights and a plus for financing the same.
In order to determine the premium of the insurance, there are many facts that should be taken into account. Among them, some of the specifications are the brand and model of the car (in this particular case the fortuitous accidents and the whole value of the automobile will be considered), the use and affectation of the same, depending on whether if will be for particular use or for working purposes; and sometimes, the companies also evaluate the use estimating an annual mileage and fixing the quota accordingly.
Another issue that is taken into account is the geographical location, classifying some areas of high, medium or low risk in accordance to the population density and the auto traffic. Other characteristics that could be involved in this process will depend on the marital status, gender and age, but only in some companies where the statistics are to make some clients pay less.
In regards to the discounts, it is important to know in advance which ones are offered by the different companies before acquiring a car insurance. If an interested party has more than one vehicle, they may be able to obtain a discount assuring them the same company through the same policy; as well as it is possible to save some money if the car has road safety tools like ABS brakes, air bag, etc.
The vehicles equipped with antitheft devices will also have a better price. Another type of discount that could result are when it is time to renew the contract, if the automobile has not suffered any accidents during the first year, it is probable to pay less once it is renewed.
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