When buying a car, car insurance is an expense that should not be overlooked. Indeed, it is necessary to choose the one that best meets the needs of the owner. To avoid paying large sums, here are different techniques to reduce its price.
Car insurance: a mandatory element
To be able to travel on public roads, all motorized land vehicles must be covered at least by civil liability insurance. Indeed, it should be noted that since 1958, car insurance has become compulsory. It should be noted that this provision is reiterated by the Insurance Code and by the Highway Code.
On this point, it should be noted that in France, driving with an uninsured car constitutes an offense liable to a fine of €3,750 which can be accompanied by a license suspension up to 3 years. In addition to this sanction, the vehicle concerned may also be immobilized and/or confiscated.
Beyond the elements cited, in the event of an accident, the uninsured motorist who is at fault will be responsible to compensate casualties and/or damage caused.
Taking out car insurance therefore covers bodily injury and/or material damage that the car may cause to others. In addition, not all insurance contracts offer the same coverage.
What are the different types of insurance?
There are mainly three types of insurance contractsto know :
- Third party insurance compensation for damages caused to others. However, with this type of insurance, the driver is not covered for damages incurred. The same applies to the vehicle concerned.
- Extended third party insuranceoffering additional protection, especially in the event of theft, glass breakage, fire or natural disasters.
- All risk insurance guaranteeing full coverage to the owner. In addition to accidents, it also takes into account damage linked to vandalism as well as replacement at purchase value, in the event of total destruction of the vehicle.
Of course, the wider the coverage, the higher the price of the insurance.
What solutions to reduce the cost of your insurance?
The price of insurance can be particularly high. Thus, to try to pull the tariffs down, different methods can be applied:
- Picking out an insurance contract adapted to their needs. Like a “little wheeler” insurance. This type of contract is intended, as its name suggests, for people who drive little. It saves up to 50% compared to traditional insurance.
- Revise your guarantees downwards. Indeed, an all-risk contract can be advantageous for a new car. However, after five years, the vehicle loses value at the Argus rating. The scale used by the insurer to reimburse a damaged vehicle after a fire or collision. In this case, third-party or extended-third coverage is sufficient.
- Choose a vehicle with a small engine or equipped with electric or hybrid technology. Although the big bikes offer great performance, it is not necessarily the best choice to reduce the price of its insurance. Indeed, as far as possible for standard use, it is better to favor small engines. Electric and hybrid cars are also cheaper to insure than internal combustion vehicles.
Thus, applying one or more of these tips will significantly lower the price of insurance. We advise you to compare car insurance to find the best price. In particular, it is possible to do this online.
As an appeal, the cost of your insurance premium also depends on the insured vehicle, your geographical location and your profile (age, background, bonus/penalty, etc.).
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