IndependentEver heard of mileage scales? No? However, this concept may save you quite a few euros. The number of kilometers you drive per year is an important factor in determining your car insurance premium. Independer.be explains how such scales can positively influence your premium.
In collaboration with Independer.be
Latest update:
09:51
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Independer.be
How is your insurance premium calculated?
There are several factors that determine the amount of your premium. Your age, your place of residence, the value of your car and your claim-free years are known to most motorists.
Reading tip: What are claim-free years? And what do they mean for your premium?
But did you know that many insurers also grant you a substantial discount if you drive fewer kilometers per year? If you fall into a lower kilometer scale, you will also pay a considerably lower premium. This is evident from our simulation, in which we compared the premium price of a full omnium for a similar car (a BMW X1), but with a difference in mileage.
The price differences are large. For example, a driver who drives more than 30,000 km per year pays 6 percent more premium than someone who only drives 10,000 km per year. If you drive less, the difference becomes even greater.
Then why are you paying less?
The reason for the substantial premium difference is directly related to the number of kilometres. Insurers assume that the less you drive, the less chance you have of an accident and therefore damage. You therefore have every interest in ensuring that the number of kilometers in your contract corresponds to reality every year.
Imagine: because you work from home three days out of five these days, you are on the road much less. This can result in a serious premium reduction if you report it to your insurer.
The choice of your car naturally also influences your premium: you need to pay specific attention to these factors.
Conclusion
Where can you find the kilometer scale in your contract? When you take out your car insurance, you give your insurer an estimate of the average number of kilometers you drive annually.
If you drive fewer kilometers than planned, you must therefore definitely inform your insurer before the annual renewal date of your insurance.
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This article was brought to you by our partner Independer.be.
Independer.be is an independent insurance broker that helps you compare and take out insurance.
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