Monday, May 14, 2012

How Much Should You Pay For Your Car Insurance?

How much should I pay for insurance for all reisgo? Why a third? Is this price is cheap or expensive? Although a lot of influence variables (type of car, driving license, coverage and additional clauses in the insurance ...) should know the market trend to see if your insurance is in market prices or, on the contrary, it is worth listen to offers.

Each month we publish the Security Price Index (IPS) is a monthly comparison carried out by Direct Insurance in collaboration with the Kronos consultant that analyzes the evolution of prices in the eleven reference direct insurers in Spain in the different modes insurance. By the way, if you know what insurance you need, you may be interested in this article, indicating what insurance is the most appropriate depending on the type of car.

With the IPS is easier to make a decision about hiring the company and the type of insurance based on their prices. We analyze the change from the previous month and year. Thus, and from this benchmark shows the trend and evolution of average prices in the market for car insurance throughout the year. This study analyzes data from Direct Insurance, Balumba, Click Insurance, Phoenix Direct, Genesis, Direct Line, Mapfre, Mutua MadrileƱa, Pelayo, Regal and Verti.

The latest data show that the IPS insurance average prices closed 2011 with a drop of 3.75% cumulative average in the four modes of seguros.En this picture you can see the maximum and minimum prices throughout 2011:

Maximum and minimum price insurance in 2011.

So it can be a good time to see insurance deals (here we tell you what to do to change insurers). Let us now analyze in detail the evolution of prices of different types of insurance.
Third Basic

Development of safe third grade in 2011. Source:

According to the report of Direct Insurance, this insurance index closed 2011 at 97 IPS, three points below the benchmark index 100 in January 2011. August and September were the highest peaks fall (up to four points below). The average price in December of third-party insurance was 398 euros compared to 410 in January. This downward trend is worse in other comparative: Whoever hired a basic third party insurance in August saved from December 3 euros to 15 euros compared to what was discharged in January.
Third expanded

Evolution of extended third-party insurance in 2011.

One of the ways that experiences higher down regarding the figures earlier this year. Closed 2011 at 95 points, five below the reference index 100 in January (20 euros cheaper than earlier this year, which cost EUR 463 Average Price). However, the rates went up 1.61% this month compared to November. The month was September cheaper, with an average price of 434 euros (93 points in the benchmark) and premiums were highest in February, which reached 465 euros.
With excess

Evolution of insurance with excess in 2011.

The largest decreases with third expanded, up to 5% at year end. The average price in December reached the figure of 610 euros (650 in January). The largest decreases month was September, which stood at 92 IPS, eight points below the benchmark index 100 and 594 euros in January average price.
No excess

Evolution of insurance without excess in 2011.

Insurance are less down around 2011 (2%). Ended the year with an average price of 1092 euros, 6 euros less than in January. The figure was lowest in August (and 2010), where prices fell up to 1069 euros on average.

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