IndependerAsian cars are on the rise on the Belgian market. But does choosing such an – often unknown – car brand change anything to your insurance and premium compared to a ‘classic’ European brand? Independer.be find out.
More and more e-cars from Asia
Insurers always look to the future when determining the amount of their premiums. They try to assess the risk: what is the chance that they will have to pay (high) damages to their customers in the future? That is why they also want to have insight into the quality of each vehicle and the extent to which the car is road safe. And that’s exactly the problem…
Because many new Asian brands are only now entering the market, insurers do not yet have data to map the difference with a ‘normal Western’ car. For example, there are no or too few representative figures on the number of damage cases, the average cost for a certain type of repair, and the number of serious accidents involving these vehicles. This data will of course be available in the future, because it is expected that more and more people will buy an electric car from an Asian brand.
Conclusion: For the time being, nothing will change for your insurance and insurance premium. But that may change in the future.
To store your car in your garage or on the street: this is the effect on your premium.
What other criteria do insurers use when determining your premium?
One of the most important criteria is certainly in which municipality or city you live. Those who live in a city are guaranteed to pay a higher premium. This is because the risk of accidents is greater there, because traffic is a lot busier. The risk of vandalism also normally increases.
The amount of your car insurance premium also depends on, among other things, the list price of your vehicle, its power (HP/kW), your claim-free years and the number of kilometers you drive each year. The higher the list value and the higher the equity, the more you pay. Logical, because if you can drive faster, the risk of accidents is greater. And if you have a more expensive car, the chance that it will be a more expensive repair also increases.
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Finally, the ‘age’ aspect plays a major role in the calculation of your premium. A driver who is a little older has a lot more driving experience than someone who has only just obtained his driver’s license. Such a driver can assess risks better and is therefore less likely to have accidents than a person in their twenties.
Tip: You will score the highest discounts on car insurance in February.
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2024-02-20 09:20:00
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