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What does the price of civil liability depend on?

NEWS_PUBLISH_DATE 07 August 2020
What does the price of civil liability depend on? image

The price you pay for your insurance is called the insurance premium. It is determined by insurers on the basis of different criteria that are not identical for all insurance companies.

How the price of civil liability insurance is formed

In general, we can divide the factors for determining the due premium under Civil Liability Insurance into two categories. The first category are those related to the parameters of the motor vehicle. The second are factors concerning its owner. It is important to note that the pricing criteria for the different types of vehicles are not uniform. The data needed to determine the price of car insurance are different from those for trucks.

Factors concerning the car

The parameters for cars that affect the value of the Civil Liability policy are:

  • engine capacity;
  • power;
  • DKN of the vehicle - registration number;
  • address registration;
  • type of fuel;
  • year of manufacture;
  • the purpose of the vehicle;
  • number of seats.

In addition to the above, for trucks, the load capacity and total weight of the vehicle are taken into account.

Factors related to the car owner

One of the most important components that determine the premium for individuals is the age of the owner of the vehicle and his behavior on the road. According to the tariff conditions of most insurers, younger drivers pay more expensive insurance.

Factors decreasing and / or increasing the premium

I&G Brokers knows how important it is to inform its clients about insurance products that can be combined with current policies. For example, if you have a motor hull insurance, you can get a discount on the price of civil liability. Discount is also available for loyal customers who renew their policy in the same company. I&G Brokers reminds that insuring a right-hand drive car in Bulgaria will cost you a fortune. Experts agree that these cars are proven dangerous and therefore the premium is increased.

Advice on concluding Civil Liability

You are stuck in many current tasks and do not find the necessary time to take out insurance in an insurer's office. In that case, try online. The order will take you a few minutes and gives you the flexibility to do it when and where it is convenient for you. You can calculate the prices of different insurance companies yourself, using a convenient and easy calculator. If you are about to choose where to take it out, choose an insurance broker who will take care to remind you before it expires.