How much car insurance coverage do I need?

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How much car insurance coverage do i need

When buying a car, it is worth checking the insurance costs. They depend primarily on the make and model of the car, the place of use and the driver’s profile. In addition to the price of the compulsory policy, you should also be interested in the costs of additional benefits. How much is the car insurance you need?

What determines the amount of the insurance premium?

How does it happen that the same person in one insurance company pays PLN 480, and in another, without changing the car or any of their data, would have to spend PLN 950? Each insurer takes slightly different factors into account when determining the premium and gives them a different weight. However, there are universal elements that are important for each insurance company. 

Car parameters and price

The insurance price depends on the characteristics of the car, such as its year of manufacture, which allows you to predict the technical condition of the car, engine capacity, which allows you to assess the likelihood of driving at a higher speed and thus a serious accident, or make and model – some are statistically more often involved in breakages and accidents.

The driver and the price

A driver with longer experience and one who runs collision-free driving is additionally rewarded by companies, younger age must take into account a higher premium. For some insurance companies, what matters is the profession of the driver – athletes, IT department employees pay much more for civil liability than farmers or teachers.

How much car insurance coverage do i need
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Place of residence and price

Not only is the city in which the car will be used most often, but also the place where it is parked. If the car is parked in a guarded place, you can expect a lower premium.

How much does insurance for a new car cost?

The year of the car has a significant impact on the price of insurance. Owners of several-year-old cars pay significantly less than owners of several-year-old and older cars. However, cars break straight from the salon. This is due to the fact that they are most often bought by doctors, lawyers or IT specialists, who are assessed by insurers as more likely to cause damage on the road. We also like to boast about new cars, test their power – all this affects the high risk and high insurance price for new cars.

To sum up, the lowest amounts will be paid by people whose cars are between three and ten years old, the highest – owners of cars approaching their twenties and those who have left the road straight from the salon. 

Insurers need a lot of information to be able to properly assess the risk of damage and thus set the rate at which it will pay them to insure the driver.

 

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