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Car insurance cost: what does it depend on?

Car insurance is not all the same and the RCA award (short for Motor Vehicle Liability, ed) varies according to various factors.

The insurance companies, in fact, are based on multiple data for the calculation of the insurance premium : from the type of vehicle, to the age of the driver, passing through the residence, are just some of the main parameters that are taken into account. As a general rule, however, the cost of the insurance premium depends essentially on the likelihood of an accident occurring or not: therefore the higher the probability, the higher the cost.

In addition to the pure premium, however, which is precisely determined by the probability of an accident and the average cost of car claims , the cost of insurance is also increased by taxes and duties, which weigh on the final price.

The main parameters for calculating the insurance premium

The type of vehicle
Among the main factors that contribute to determining the so-called insurance risk, or the data on the basis of which the premium is calculated, it is certainly necessary to consider the type of vehicle to which the insurance must be applied.
In fact, some characteristics of the vehicle influence the price of car insurance, one above all the power of the engine: statistically, the more powerful the car, the more the risk of an accident increases. Tax horses do a lot in this regard. In general, every two tax horses incur an increase in the premium.
Vehicle power : the general rule says that the less fuel costs, the more you will use the car and therefore the probability of accidents. A car with a diesel engine will pay more than a car with petrol or an electric car. In particular, there will be a good saving with electric and hybrid carsfacilitated by not polluting. But this does not apply, contrary to what one might think, with methane-powered cars which, especially in some areas of Italy, are more penalized. The reasoning that leads to raising the price of auto insurance policies with this type of power supply is this: CNG cars generally run more kilometers than petrol cars and are therefore more prone to accidents.
The presence of safety accessories: ABS, airbag, black box, satellite alarm, automatic emergency braking and other driver assistance devices, are all devices that lower the cost of insurance because they make accidents, injuries and theft of the vehicle less likely. car.
Personal factors . Among these the most considered are:
Age and gender : the younger you are, the less driving experience you have, the higher your insurance premium price will probably be. Young people, therefore, pay more than adults, and, in particular, those under 25 are considered more likely to not behave properly. Moreover, if you are a woman, you pay more than a man.
How long you have the license : the less you drive, the more likely you are to crash.
The class of merit : on the basis of personal insurance history you are placed in a specific category that indicates the probabilities of making an accident. The more accidents you make in a driver's career, the higher the insurance premium. Obviously those who enter the entry class (the feared class 14) pay a higher premium than a higher class.
The profession : if you do a job for which you travel a long way, the price of car insurance will be higher.
Other factors that affect the price of car insurance can be the province where the vehicle or residence is registered Here, too, statistics come into play. The areas most at risk are those where there are more accidents and crime. And so, for example, the Lombard capital has much lower costs on policies compared to Naples (there is talk of a difference that is between 56 and 68% more). This is because the number of claims is greater in Naples than in Milan and car theft is unfortunately even greater.
Again, among the factors that influence the price it is important to consider the driver's habits : if the car keeps it in the garage, in a guarded parking lot or on the road or if the machine is used only for work or even for leisure time.
In short, the general rule is always the same: the more likely there is an accident or the car is stolen, the higher the insurance price is.
Then there is another parameter that conditions the class of merit in a fundamental way: the ceiling, ie the maximum reimbursement that the insurance company will pay in the event of a claim. The premium is directly proportional to the insurance coverage.
To these items it is good to add the fixed components such as the fiscal and health costs, the expenses for the practice, the base rate, the contribution to the National Health Service, the contribution to the Guarantee Fund for road victims, all voices that make an integral part of what will be the final figure of your premium calculation.

In Italy, RCA insurances are higher than in other EU countries

In Italy the RCA costs are 45% higher than in other European countries, the taxes on the RCa are equal to 24%, in the other EU states they are 17%. Why this difference? High numbers of claims, scams, thefts are all factors that negatively affect this sense and that, therefore, drive up prices.
The solutions seem to come from some initiatives such as the law decree which included some contractual clauses aimed at countering fraudulent claims for compensation , or the obligation for insurance companies to offer the installation of a black box at their own expense in exchange for a reduction of the insurance premium.
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About Minh Hiếu

Le Minh Hieu is a national-level weightlifter and a Singapore Weightlifting sports performance coach. Hieu's biggest passion is helping everyone find confidence, happiness, and health through fitness.


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