In Lima, car thefts range from 18 to 20 cars per day, according to data provided by the Vehicle Theft Division (DIROVE). Given this reality, vehicle insurance is intended to protect our investment, that is, our car.
But to acquire one that really fits your needs, it is necessary to know what the price of the same is composed of, since even in the case of the same insurer, not all insurance costs the same . This is because the price of insurance is calculated using different variables, such as the level of coverage and the brand, model and price of the car.
In terms of coverage
Your insurance may be civil liability (only covers damages to third parties in the event of an accident), total loss (in addition to civil liability, replenishes the vehicle in case of its total destruction) and all risks (includes the previous two but also the repair of the vehicle in case of different accidents).
The brand, model and price of the car also matter because the vehicles are rated low, medium and high risk. To assign this rating, insurers analyze different variables, one of them is the number of claims (thefts) in which the models have been involved.
After considering everything
We will see that, for example, the insurance of a Hyundai i10 would cost less than that of a Nissan Sentra, because it is considered the first one with the lowest risk. In addition, it is important to note that for some specific brands and models, insurers request that GPS be installed to access total loss coverage.
Another fact to consider is the deductible, which refers to the amount that the user must assume when an incident occurs. If the deductible is 15%, it means that if the car repair cost $ 600, the user must cover $ 90.
You can compare the prices of vehicle insurance available in the market for different brands and models of cars using the Sara Monday vehicle insurance comparator and also, request many of them from the same page and without any other hassle.
It is always advisable not to get carried away at first sight for the lowest price but to be well informed of everything that your insurance will cover and what you will have to pay in each case. Many times cheap is expensive, let’s keep that in mind.