Tips for Choosing Car Insurance

Options offered by insurance companies

Although there are many opportunities for employment, insurance companies offer 2 or 3 possibilities depending on customer preferences and age of vehicle. 

New Car Insurance

If a vehicle is less than 5 years, usually opt for an All Risk. The All Risk form is complete and therefore more expensive. 

You can agree a with excess, so that the insurance comes cheaper. Franchises are fixed quantities (different depending on the value of the vehicle), the insured will assume for themselves in each incident.

To be quite moderate amounts, in any case represent a significant financial loss to the insured in case of accident (taking the economic stability of its assets secured at all times).

The ultimate goal of franchising is that small scratches or taps, are borne by the insured, as a cost of vehicle maintenance, insurance covering the remaining cases, ie, the risk of accidents really.

If you have a new vehicle and it looks to hire an All Risk is paying too much money, it would be wise to reflect on the following aspects:

Age of vehicle: the newer the vehicle, plus receive compensation in the event of total loss (ie when you run out of vehicle). It is therefore more interesting to all risks.

Economic situation of the client: whether to buy the car has run out of savings, or even had to borrow money, you should hire an All Risks to be covered against major incidents that threaten economic stability and avoid problems Borrower Entity.

Degree of utilization of the vehicle: the longer a vehicle circulating on the road, the greater the possibility of an accident. Therefore, interested in being fully insured.

Use of garage: If the vehicle sleeps in the street, are at greater risk of harm.

Degree of risk aversion of the client. This is a subjective factor of each person. There are people who do not mind risk being without a car, and third party insurance contract with the newly purchased car and people who need greater security, ensuring your vehicle at all risks, even if the car is 10 years.

The general trend in new vehicles is secured at all risks, even if it means over the first 5 years 3 or economic effort, given the peace of mind against a well liked and expensive, as is the new car. The economic effort involved is greatly reduced with the hiring of a franchise.

Insurance for  cars

From the 5 th year of service, the customer does not worth having your vehicle insured for all risks, because the car will have depreciated approximately 60 - 65%.

It's time to move to a less comprehensive form. To avoid the big jump the switch from All Risks to Third, companies offer intermediate forms, which assures us of a possible total loss of the vehicle by paying a moderate premium. This mode is recommended for vehicles between 5 and 7 years.

If the vehicle is very old, the most appropriate form would be a Third Moon. It has the advantage over the Third Basic on that for a small additional premium, is hiring assurance Broken Moons and Extraordinary Risks (extraordinary floods, acts of terrorism such as riots, etc..).

Choosing insurance company

It is recommended to study several aspects: 

Value hedge / Price: Inside the cover, look at the capital of occupants, additional guarantees (seeking fines, travel assistance, additional guarantees: repair defective claim, defense as a pedestrian / cyclist, etc..).

Geographical location of the company: some only have offices in provincial capitals. Many large companies are centralized in California, Los Angeles, New York, Houston ,Madrid and Barcelona and often lead to more bureaucracy and delays.

Companies with recent mergers leave much to be desired in its claims management (incoordination, delays, etc..).