How much does car insurance cost on average?

How much does car insurance cost on average? If you are looking  for auto insurance  with or without deductible, comprehensive and other specifications, you have to know what type of insurance suits you and how much it costs  in average auto insurance .

How much does car insurance cost on average?

The  auto insurance  offers  coverage  and attendance being compulsory insurance also must hire every owner of a vehicle to protect and cover the  expenses for car accidents  theft of the vehicle. The  price of auto insurance  increases or decreases according to the level of coverage and assistance as well as coverage against:

  • Occupant injury expenses
  • Personal injuries
  • Damages to third parties
  • Civil liability
  • Medical expenses
  • Material damage
  • Legal advice
  • Mechanical assistance.

There is a minimum age for  car insurance , since the insurance takers need to be over 18 years old and have the current car documents.

An  online comparator can be used  to  quote auto insurance  based on the coverage and assistance between the main insurance companies. For what they must enter the basic data such as: name, surname, age, make and model of the car, the year and the RUT, from this it gives the  average prices of the car insurance  for said  vehicle .

Auto Insurance Coverages

There are different coverages for auto insurance . They are-:

  • Civil liability:  Said  insurance coverage  covers the cost of damages and injuries to third parties, based on the amount established by the insurance company.
  • Smart deductible:  If there is a third party identified as at fault for the accident, the insurance deductible does not apply.
  • Criminal defense and the establishment of bonds:  This coverage allows to cover the fees of lawyers and attorneys, court costs and the amount of the bonds per claim.
  • Theft, theft or unauthorized use:  Allows you to cover the theft of the vehicle or damage caused to the vehicle during an attempted robbery.

Auto Insurance Assistance

Most auto insurances have assistance services , which include:

  • Light mechanic service:  This insurance assistance provides mechanical help on the spot if the car is unable to circulate and is immobilized.
  • Crane:  If the vehicle is immobilized on the route in the event of an accident, the insurance activates the assistance to the place.
  • Auto Replacement:  The insured may request it if he cannot use his vehicle due to the covered claim.
  • Replacement  driver : The insurer will offer a replacement driver if the insured is unable to drive.

Average car insurance prices by deductible

For this table, only the quotes of certain car models were considered and offers with extreme prices due to vehicle or user conditions were not included. These offers are for 12 annual installments.

Monthly priceAge range
$ 50,677.0018/20 years
$ 47,851.0021/31 years
$ 41,549.0031/40 years
$ 40,234.0041/50 years
$ 39,334.0051-60 years
$ 37,586.0061/70 years
$ 37,959.0071/90 years
$ 39,662.0091 years +

How do insurers set the price of insurance?

The  price of the insurance  is established based on certain factors such as:

  • Amount of Claims: The more claims they have, the more expensive the premium will be. The insurer considers the number of claims of each driver in the last 24 months.
  • Age: Insurance companies estimate that the younger the insured, the greater risk they pose than an adult insured.
  • Make / model: Within the makes or models of vehicles, some makes and models are more likely to suffer theft or theft.
  • Technical Service and spare parts: Something that not everyone takes into account is that each vehicle is associated with different values ​​of spare parts and technical services according to the make, model and year, which directly influences the value of the premium.
  • Deductible: It is the value in UF that the insured must pay for each claim and whose amount will not be reimbursed by the insurer.
  • Civil liability: This is the obligation to repair or pay the damage caused to third parties such as material damage, moral damage or lost profits.

Based on these types of tables, you can know the average prices of car insurance and decide which policy you can hire according to your age, model, year and brand of vehicle and what they consider to cover.