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Auto insurance: how to choose it ?

Auto insurance: how to choose it ?

Auto insurance: how to choose it ?

How to choose the right car insurance? A question that we will answer, while stopping on various points such as the deductible, the bonuses / penalties, or the price comparison.

What are auto insurance contracts hiding?

We find ourselves penalized for not having paid enough attention to the said contract. Third party, third party plus or intermediary insurance and all risks: each insurance contract is different. The guarantees offered are not the same according to the insurers. Do not think that an all-risk or intermediary insurance automatically offers you this or that guarantee when in the end, it was only an option in the contract in question.

How to read your insurance contracts properly?

So pay close attention to the guarantees offered in the contract, especially if they are important to you: theft, towing, loan of a car, glass breakage, fire, etc. It is important to take a good look at your contract in order to make sure that you are eligible for this or that guarantee and to observe the amount of deductibles to pay in the event of an accident. The deductible corresponds to the sum which remains at your expense and which is not assumed by your insurer. It happens that some organizations offer an affordable insurance premium but in return hides exorbitant deductibles that will cost you dearly the day a disaster occurs. So do not neglect the amount of these deductibles!

What are the points to check before taking out a contract?

Before taking out an insurance contract, here are the points to check in order to choose and understand your car insurance:

1. Choose the guarantees

It is essential to establish the list of guarantees that did not suit you or no longer in your old contract, in order to establish which ones you really need.

2. Compare prices

The contract must adapt to travel needs, types of journeys, car model. It is interesting to simulate your situation with auto insurance comparators.     

3. Stay informed

Since the Chatel law of January 2005, insurance companies are obliged to inform the insured of the new insurance premium for the coming year and this within a period of at least 15 days before the deadline. annual deadline. If it has not sent this notice of expiry in writing to its client, the latter may terminate his contract within 20 days from the date of renewal.

4. Liability coverage

Third party or civil liability cover is compulsory. Particularly important, it guarantees in particular compensation for all material and bodily damage caused to third parties.

5. Pay attention to the deductible

Insurance companies display attractive prices but the amounts of their deductibles are often exorbitant. It is better to pay a little more expensive guarantees and have a more affordable deductible. So take the time to compare, play against the competition and choose the one that best suits your profile.

Is the deductible compulsory?

The franchise can take two forms: absolute or relative. There is the soft method. An insured will not be reimbursed if the compensation amount does not reach a certain level. The absolute deductible works in the same way, with one small detail: once the amount of compensation reaches that of the deductible, only the difference between the cost of the repairs and that of the deductible is reimbursed.

What are the risks of insurance without deductible?

With auto insurance without a deductible, you won't have to pay your insurance company in the event of an accident since you cover all the repair costs of your vehicle. Therefore, you will pay more for your membership fee. Conversely, the higher your deductible, the lower your contribution will be. Most insurers offer car << formulas  no deductible  >> therefore no minimum amount payable by the insured. However, this 100% support is reflected in the cost of contributions, which is clearly high. It is up to everyone to measure before signing whether the absence of a deductible in the event of an accident is more profitable than an insurance contract with a low-cost deductible.

Auto insurance: how to choose it?

What are the essential options of a contract?

To help you, we have listed the essential options to find in your insurance contract. Liability insurance, more commonly known as third party or third party collision insurance, is the minimum guarantee required for driving. It takes care of the damage caused to others. The optimal cover is the "all risks" guarantee which will compensate the victims whatever the degree of responsibility. In the event of a non-responsible accident with an identified third party, it has the advantage of compensating you without waiting for reimbursement by the opposing company. This is called the advance on recourse. It is also justified if you bought your vehicle on credit.

What other option is it important to consider?

Bodily injury to the driver. When offered, this option offers a higher compensation than the formula. The driver is compensated according to the amount provided for in the contract, in the event of injury, disability or death, resulting from an accident, even when he is responsible. 0 km assistance in the event of a breakdown (without kilometer deductible) is also important. This option allows you to benefit from full assistance even downstairs.

How to choose the different options of a contract?

Auto insurance can include different options depending on your vehicle, your situation and your needs.

How to find your way among all the guarantees, formulas and options offered?

Replacement value is an option reserved for new vehicles, generally insured on an all-risk basis. During the years following the subscription, you benefit from the reimbursement of the purchase price of your vehicle if it is destroyed or economically irreparable. Mechanical breakdowns and repair costs linked to the overhaul of the vehicle are covered, in particular parts and labor. However, not all breakdowns will be covered. Expenses related to vehicle maintenance cannot be covered: overhaul, change of shock absorbers, etc.

Personal effects are guaranteed in the event of disaster, damage, vandalism or theft or the vehicle. This option is useful, especially for drivers who travel regularly. Legal protection makes it possible to include legal assistance and advice by telephone in the contract. This option can also take care of your defense and protect your interests during the various disputes related to your vehicle. Thanks to this option, your car insurance covers the costs and fees related to your dispute according to the amounts fixed in the contract.

Why is it important to compare different actors?

When you have to take out auto insurance, the choice becomes multiple. Indeed, there are many factors to take into account: the type of car, the background of the driver, the desired guarantees. To see more clearly, insurance comparators analyze the types of coverage to find the one that will meet your exact needs.

The key to inexpensive insurance: insurance comparators

To avoid losing yourself in the face of the embarrassment of choice, it is important to get help in your choice by carrying out an auto insurance comparison. Transparent, free and without obligation, auto comparators allow you to receive several insurance quotes in just a few clicks. Not favoring any insurer, they provide you with complete information according to your criteria. In a very short time, comparators provide you with the best auto insurance offers tailored to each profile. To save money and save time, comparing offers is a solution favored by many drivers. In a few clicks, you will have all the cards in hand to find the cheapest insurance for your car!

What information do I need to provide to compare prices?

Before taking out auto insurance, it is useful to obtain several quotes and details of the coverages offered from different insurers.

In order to avoid you having to go unnecessarily to an agency, many insurance comparators offer you to establish a comparison in order to save money and choose the insurance that best suits your needs. To make this comparison in good conditions, you must have a computer and an internet connection, but not only ...

What documents do you need to carry out an auto insurance comparison?

To give you a price, these auto insurance comparators will ask you several questions through a form. In particular, they will weigh the price of your current auto insurance against other existing products for similar guarantees. To make this comparison, you must provide: the vehicle registration document, the driving license of the main driver and, if there are secondary drivers, the information sheet which contains all the information on your past insured, including your coefficient bonus Malus. Once you've gathered all of these documents, it's easy to proceed with your auto insurance comparison.

Auto insurance: how to choose it?

What is the bonus?

You are probably familiar with the term bonus / penalty when we talk about auto insurance, but you do not know exactly how this coefficient works and what does this famous “bonus” or “penalty” that you have correspond to? Explanations. When we talk about car insurance, one notion always comes up: your bonus / penalty coefficient. This coefficient is essential in determining the auto insurance premium you will have to pay each month, and therefore directly affects the cost of your auto insurance, regardless of the model of your car. 

The bonus, to reduce the cost of your insurance

All insurers are required to apply a reduction – increase clause to their rates called bonus-malus. The rule is simple. Each driver benefits from an original coefficient equal to 1. Then, each year, if the driver has not had a claim for which he is responsible, then he benefits from a reduction of 5% of his coefficient. Thus, each year, it suffices to multiply the coefficient of the previous year by 0.95 to obtain your new coefficient. It is thus possible to obtain a bonus (that is to say if your coefficient is less than 1), which can go down to 0.50. In this case, it is said that you will have a 50% bonus, which means that the reference contribution will be reduced by half. If you have a bonus, then this number serves as a multiplier for the bonus. basic insurance. So you have a reduction compared to the standard price. Conversely, if your coefficient is greater than 1, a penalty is applied, and the insurance premium is higher than the reference contribution.

What is the penalty?

In terms of automobile insurance, all drivers are subject to the so-called reduction-increase rule called bonus-malus. In the event of a claim, you receive a penalty which has a direct impact on your insurance premium. Explanations. If you cause accidents, and claims occur during the last 12 months before the annual expiry date of your insurance contract, then you will receive a penalty, which will have consequences on the cost of the insurance you will need to pay monthly. 

The penalty, a penalty on the cost of your insurance

All car insurers are required to integrate the bonus-malus system into the calculation of their insurance premiums. This system has a fairly simple operation. All drivers start with a bonus-penalty coefficient equal to 1. Then, in the event of an accident for which you are responsible, an increase of 25% of this coefficient will be applied (12.5% ​​if you are partially responsible). For each accident, the multiplication by 1.25 (or 1.125) is performed. It is thus possible to obtain a penalty of up to 3.50. Accidents for which the responsibility is attributable to a third party, or even events assimilated to a case of force majeure do not count for the calculation of the penalty. Your penalty coefficient will have a direct impact on the cost of your insurance, because the reference contribution will be multiplied by the penalty. You may therefore have to pay up to 3.5 times more than a “basic” premium. Namely, after two years of insurance without accident, the penalty disappears.

How to claim bonus?

To calculate auto insurance premiums, insurers apply the bonus-malus rule. In the event of an accident, your penalty coefficient increases, and increases the cost of your car insurance. So how do you get the bonus? A penalty applies when you report claims for which you are responsible. For each claim, a multiplication of your old coefficient by 1.25 is applied, ie an increase of 25% of the basic insurance premium (12.5% ​​for claims for which you are partially responsible). To see this increase reduced, you need to "recover" the bonus. Here's how. 

Do not have a claim to recover the bonus

The bonus-malus coefficient changes every year. If you have claims to report, then your coefficient will increase, and a penalty will be applied to you. The basic bonus will be multiplied until it reaches the maximum penalty of 3.50. How to reverse the trend? If you have not had a claim during the last 12 months, then a reduction of 5% applies. Better, after two consecutive years of insurance without any accident, then your bonus-malus coefficient will return to 1. After 13 years without any accident, you can reach the maximum bonus of 50%. This is the lowest coefficient, which allows you to benefit from a 50% reduction on the basic contribution.

Auto Insurance: Compare Prices

To choose the solution that best suits your situation and your budget, auto insurance comparators make your life easier and provide you with the rates offered by various insurers in a few minutes.

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