Co wpływa na cenę ubezpieczenia OC pojazdów mechanicznych?

What affects the price of motor third party liability insurance?

Every owner of a motor vehicle must buy third party liability insurance every year. Often, such an expense is a significant part of our household budget. Why do many people, despite having the same discounts, pay different contributions? What does it depend on? We decided to analyze which elements have the greatest impact on this.

What is third party liability insurance?

Liability insurance is a mandatory document that every owner of a motor vehicle must have. There is a risk of a rather high financial penalty for its absence, which is increased every year. Why is it so important? Because it protects the driver from serious financial consequences in the event of an accident or collision due to his fault . In the case of minor bumps it does not matter that much, but in a serious accident it does.

It is very important that regardless of the Insurance Company, its conditions are always the same. This is because they are specified in the Compulsory Insurance Act. Therefore, the deciding factor in choosing it should always be the price. And this one can be very different. What it comes from? This is due to several factors.

Vehicle owner data that affects the cost of third party liability insurance

The first element affecting the price of third party liability insurance is the owner of the vehicle, and more specifically some of its data. The most important of them are:

  • age – the younger the driver, the higher the price. This is mainly due to the fact that he is inexperienced and more prone to reckless driving, so the risk of a possible event is higher. Each insurer individually determines the age threshold for which an additional premium increase applies.
  • driving license period – we may be punished with a higher insurance price not only because of our age. Another important factor is how long we have the driving license. So even a 50-year-old person can pay a higher premium if they have just recently obtained a driving license.
  • place of residence – the larger the city we live in, the higher the price. This is mainly due to the fact that there are more cars on them and it is easier for a possible collision. Therefore, residents of villages and small towns are privileged in this place.
  • marital status and children – the fact of having children gives insurers reason to think that the driver will drive more carefully. Therefore, she is able to offer him a discount. On the other hand, a childless bachelor may pay a higher price, because statistically he is less careful and is more often allowed to speed up.

It is worth knowing that the price of third party liability insurance is also influenced by the fact that the co-owner is entered in the registration certificate. If it is a young person, then we risk an increase due to her age.  However, it also offers some savings on the premium, as the inexperienced person behind the wheel can take advantage of the no-claims discounts accumulated by the co-owner.

Vehicle type and the price of third party liability insurance

The amount of the premium for the third party liability insurance is influenced not only by the owners, but also by the vehicle to be insured. The most important elements that insurance companies take into account are:

  • vehicle brand – insurers keep detailed statistics on the number of accidents caused by specific car brands and models. So if you are the owner of a vehicle that appears in them quite often, and is therefore in the highest risk group, you have to take into account that you will pay a higher premium.
  • current mileage – the higher it is, the greater the risk of a possible failure. Therefore, insurers recognize that such a vehicle is less safe, so owners of cars with high mileage must take into account a possible higher premium.
  • engine capacity – higher capacity means a higher price for the civil liability. This is mainly due to the fact that a larger engine contributes to higher speeds, and these are often the cause of many collisions.
  • age of the car – older cars are more prone to various types of breakdown that make them more difficult to drive. This can lead to a possible accident sooner. Therefore, having an older car, we will often pay more than those who have new vehicles.

 System Bonus Malus

The last factor that may have the greatest impact on the price of third party liability insurance is the so-called Bonus Malus system. What does this term mean? Namely, it is a system that relates to the history of driving so far. It allows insurers to assign the driver to a given claim class and on this basis calculate his premium . According to it, any premiums may increase or decrease each year. So it is a system that, on the one hand, rewards drivers for damage-free driving and, on the other hand, punishes them for damage caused. Each Insurance Company has its own individual system in which it determines the amount of any discounts and increases. It consists of different classes that can be promoted or relegated after every 12 months.