However, the cost of the policy has more to do with the driver’s profile and not with the type of vehicle since 93% of the incidents has to do with the human factor. Some of the factors that insurers take into account when calculating the price of insurance:
The better the driving record the lower the policy. Generally, a driver with traffic violations or recurring accidents with the vehicle pays a higher premium than another with a free history of these does does. Usually, due to higher odds of vandalism, theft and accidents, urban areas tend to be more expensive for auto insurance than smaller cities, towns and rural areas.
Some insurers vary the prices of policies, depending on the state, the area or the colony. This is done because there are states with higher rates of theft or criminality said Fernando, director of marketing a Nissan broker that controls the policies associated with vehicle financing.
Statistics show that women are involved in an accident less frequently than men are and the mishaps that come to have are less serious than those that occur with a male gender driver. Because of this, car insurance for women is usually cheaper CEO of Zurich Mexico.
Drivers under the age of 25 have a higher risk of an accident. For this reason, insurers usually charge a higher premium to the young people they drive. Although only 7% of accidents are often associated with the vehicle, insurers also take into account certain aspects such as the brand, the segment and the model to establish the price of the policy.
There are certain vehicles that have a market for illegal sale, and they are the ones that record a higher frequency of theft. The price of the policy also depends on the availability of spare parts for the models and the cost of repair.
Unlike the previous factors, this is the only one that far from being seen as an extra cost, is an added value, since the more complete the coverage. The less will be the additional expenses that the driver will have in case of damages to third parties. In almost all states of the country, by law, a driver is required to have a minimum liability insurance coverage.