How car insurance costs are calculated
Auto insurance, that is, motor vehicle insurance, referred to as auto insurance, refers to the commercial insurance that is liable for personal injury or property damage caused by natural disasters or accidents. Auto insurance is a kind of property insurance. In the field of property insurance, auto insurance belongs to a relatively young type of insurance. This is because auto insurance is produced and developed with the appearance and popularization of automobiles. At the same time, different from modern motor vehicle insurance, in the early stage of auto insurance, the main insurance is the third party liability insurance of the car, and it is gradually extended to the risk of collision loss of the body.
In the face of more than ten types of auto insurance, how do you get the premiums for each type of insurance? Is there a standard vehicle insurance calculation formula that car owners can apply themselves? What is the easiest way to calculate? The calculation of car insurance costs mainly considers the calculation of the main insurance and additional insurance of the vehicle insurance.
1. Premium of vehicle loss insurance = basic fee for partial loss + partial loss premium for partial loss coverage + total loss premium for total loss coverage
2. Premium of third party liability insurance = fixed premium
3. Calculation of additional insurance cost for vehicle loss insurance (1) Insurance premium for separate glass breakage = new car purchase price rate (2) Spontaneous combustion loss insurance premium = premium rate (1 + floating percentage of the relative value of the floating years used) (3) Vehicle parking loss insurance premium = maximum compensation days and daily compensation amount rate (4) whole car theft insurance premium = insurance rate (1 + floating ratio of the relative value of used years + floating ratio of anti-theft device + floating ratio of fixed parking places), the new equipment loss insurance premium = the insurance amount corresponding to the vehicle loss insurance part of the loss rate, other vehicle loss insurance additional insurance premium = the insurance amount rate
4. Calculation of additional insurance costs for third-party liability insurance (1) Insurance premiums for personnel liability insurance on the vehicle = maximum compensation limit rate per person per accident per insured seat (1 + floating ratio of compensation limit + floating ratio of safety devices) Among them, compensation The floating ratio of the limit is determined based on the cumulative compensation limit of all insured seats. (2) Cargo liability insurance premium = maximum compensation limit rate for each accident (1 + floating ratio of compensation limit) (3) No-fault liability insurance premium = same-grade third party liability insurance premium rate (4) Cargo onboard Drop Insurance Premium = Compensation Limit Rate (1 + Compensation Limit Floating Ratio)
5. Secondly, the calculation of auto insurance also needs to consider the special clauses, the annual premium rate of the policy, the daily rate usage standard, and other factors. If car owners want to know more about car insurance costs, it is recommended to use the car insurance calculators of various insurance companies to compare quotes.
How to Calculate Car Insurance Costs Correctly
Calculating the premium before purchasing the relevant auto insurance can help the car owner to understand the consumption. Given the problem of how to correctly calculate the car insurance cost that the majority of car owners are more concerned about, the following will introduce this in detail. Calculation formula of automobile insurance cost 1. Vehicle loss insurance premium = basic insurance premium + insurance amount and rate of this insurance type; 2. Third-party liability insurance premium = fixed insurance premium corresponding to the fixed level of compensation limit; 3. Whole car theft insurance premium = Vehicle actual value rate; 4. Newly added equipment loss insurance premium = insurance amount rate of this insurance type; 5. Glass breakage insurance premium = new car purchase price rate; 6. Spontaneous combustion loss insurance premium = insurance amount rate of this insurance type; 7. On-vehicle liability insurance premium = compensation limit rate for this insurance type; 8. Cargo drop liability insurance premium = compensation limit rate for this insurance type; 9. Excluding deductible special insurance premium = (Vehicle loss insurance premium + third liability insurance premiums) rates.
Precautions for calculating car insurance costs The first step is to understand the rights and interests of the insurance company’s various car insurance types that can protect, and personal and property must be insured. You should also be aware of the differences between insurance companies. Different insurance companies have different insurance clauses. For example, insurance company a excludes the loss of a vehicle such as an explosion from insurance compensation, and company b excludes natural disasters. The difference is small, but it is consistent with Always want. The second step is to understand which losses the insurance company does not provide claims for. This is also a very important point, which can greatly avoid disputes between the insured and the insurance company during the claims process. Such as broken glass alone and scratches on the body, these two are exempted in the insurance liability of most insurance companies and need to be added to the main insurance.
Analysis of the calculation method of car insurance costs
1. Premium of vehicle loss insurance = basic fee for partial loss + amount insured for partial loss * rate for partial loss + amount insured for total loss * rate for total loss
2. Insurance cost of third party liability insurance = fixed insurance cost
3. (1) Glass breakage insurance premium = new car purchase price * rate (2) Spontaneous combustion loss insurance premium = insured amount * rate * (1 + floating percentage of the relative value of the floating years used) (3) loss of vehicle stoppage Insurance premium = a maximum number of days of compensation * daily compensation amount * rate (4) total car theft insurance premium = insured amount * rate * (1 + floating ratio of the relative value of used years + floating ratio of anti-theft device + floating ratio of fixed parking places), the new equipment loss insurance premium = insured amount * the corresponding vehicle loss insurance partial loss rate, other vehicle loss insurance additional insurance premium = insured amount * rate.
4. (1) Passenger liability insurance premium = several insured seats * maximum compensation limit per person per accident * rate * (1 + floating ratio of compensation limit + floating ratio of safety devices) Among them, the floating ratio of compensation limit is based on all insurance policies The cumulative compensation limit for the seat is determined. (2) Cargo liability insurance premium = maximum compensation limit for each accident * rate * (1 + floating ratio of compensation limit) (3) No-fault liability insurance premium = same-grade third party liability insurance premium * rate (4 ) Cargo drop insurance premium = compensation limit * rate * (1 + floating ratio of compensation limit)
