Car insurance premiums have fallen by 6.5% in 2012

One of the first things to pay attention to when buying a car is how much the insurance will cost us. The cost of car insurance is something every driver must plan for, not only to protect the value of the car as an asset, but also to cover us against accidents and damage caused to third parties.

In Spain, the cost of insurance fell by an average of 6.5% in 2012, according to the annual report of the Insurance Price Index, with price reductions across all types of insurance. These reductions correspond to the adjustment of tariffs to the Gender Directive, since on 21 December the differences between men and women when taking out insurance have disappeared in Spain.

Until now, insurers set insurance prices based on variables such as age, sex, type of vehicle, etc. With the entry into force of this Directive, women will now pay the same as men for their insurance in general. Each insurer will adjust its prices according to its customer portfolio, and there will be no single criterion. This directive is expected to bring about a reduction in the total average premium of between 2% and 3% more.

Up to November, Third-Party Basic insurance recorded a 1% drop compared with October and has accumulated a decline over the year of 5%, while the price of Third-Party Extended policies fell by 1% in October and a 7% in the first eleven months of the year.

Reductions have also affected Comprehensive insurance with excess, which in November remained at the same levels as in October, accumulating a decline of 7% up to last month. As for Comprehensive insurance without excess, it remained stable in November and fell by 7% from January to November.

Source | Auto Ocasión