Insurance is one of those expenses that we must assume when we purchase a car, but its price can vary from one person to another. Not only because there are different types of insurance policies; but also because, even when contracting the same type of insurance, the price can change depending on criteria such as age or accident history, among others. Below we detail everything you should take into account and explain how to calculate the price of your car insurance.
What does the price of your car insurance depend on?
The age and length of the driving license
Youth and lack of experience are considered by insurers to be a risk factor since you are more likely to suffer an accident. The younger your license is, the higher the insurance cost will be. But don’t worry, over the years you will gain experience and your insurance may become cheaper.
The geographical area
Although it may seem strange, your vehicle insurance will not cost you the same if you live in one province or another. This is because there are places with a very high accident rate, such as Pontevedra, where third-party insurance costs an average of 471 euros, more than double the 216 euros it could cost you in Zaragoza, according to the data. from the latest Rastreator study. Therefore, your place of residence has a lot to do with the price of your insurance.
The accident history
The claims history is the compilation of the reports you have given the company over time. When you give a part the price goes up and the more parts you have given, the higher the price of the insurance will be. This increase, of course, will also depend on the responsibility for the accident. But even if it’s not your fault, some insurers will raise the price of your insurance. So, the fewer parts, the lower the price.
The extra drivers
The more people who can drive your car, the greater the risk of an accident, therefore this also means that the price may increase. The circumstances of the extra drivers you want to include can also affect the rate, for example, new drivers have a higher rate on their insurance due to lack of experience.
The age and price of the vehicle
The more expensive the car is, the more the repair usually costs, which means that the insurer will have a higher expense in the event of an accident. The value of the car causes the price of insurance to rise.
The displacement and power of the car
Power and displacement are characteristics of the car that are taken into account when budgeting for insurance. The more displacement, the greater the power of the car. The more power and less weight, the more unstable the vehicle will be, so there will be a greater chance of suffering an accident.
ABANCA car insurance offers you personalized coverage according to your needs. In addition, depending on the modality, you will be able to access a replacement car, you will have the possibility of choosing your workshop, a single assistant, a guaranteed tow truck in less than 1 hour, and the opportunity to turn some coverage on and off from the application and many other services which you can consult on their website. Please note that some of these coverages may have certain requirements or limitations.
Calculate the price of your car insurance
With the new ABANCA insurance calculator, you will know in a few moments the price of your car insurance. Now that you know the data that affects the price of your car insurance, you can request a quote tailored to you from the website or app in a few simple steps, just enter the data mentioned above. And in a few moments, you will receive your personalized quote. If you have any questions, consult our ABANCA staff who will be happy to answer all your questions.
The replacement vehicle is included in all types of ABANCA Car Insurance, except the Essential type.
Mediator:
ABANCA MEDIACIÓN, OPERADOR DE BANCA SEGUROS LINCULADO SL, linked banking-insurance operator, with registered office at Avenida de la Marina 1, 4th floor of A Coruña, and provided with CIF B-70049630, registered in the Commercial Registry of A Coruña, in Volume 3092, folio 73, page C-38698 and the Special Administrative Registry of Insurance Mediators of the General Directorate of Insurance and Pension Funds with number OV-0044. With Civil Liability Insurance, Financial Capacity is required by current insurance distribution regulations. Consult insurers with whom the mediator has an agency contract.
Insurance company:
ABANCA GENERALES DE SEGUROS Y REASEGUROS, SA, with CIF A-14715270, registered in the Commercial Registry of A Coruña, Sheet C-47133, Volume 3407 and Folio 9, with registered office at Avda. Linares Rivas, 30 – 3, A Coruña, 15005, A Coruña, with registration number in the Administrative Registry of insurance and reinsurance entities of the DGSFP C0808.
Tips:
Remember that the contents of this blog are for informational purposes. Any action motivated by its content or by the interpretation of the regulations to which it refers must be analyzed specifically taking into account the particular situation in question.
