Simulation of Car Insurance Comparison by Brand and Year

Car Insurance Comparison bjy Brand And Year

People are now starting to realize using car insurance. Therefore, it is necessary to simulate a comparison of car insurance by brand and year.

Although there is an official provision, the amount of premiums of each person is usually different. The difference is caused by the brand and the year of making the car. For example, sedan type car insurance and truck type will definitely be different. So is the age of the car. The older the age of the vehicle, the higher the premium price. That's because as it gets older, cars are more prone to damage.

Not only by brand and age, car insurance comparison based on bradn and year is also based on the type of car insurance chosen. Car insurance has two types, the first is All Risk and the second is Total Lost Only (TLO). Both types of insurance are equally aimed at protecting your car from losses with different coverage coverage from each other.

TLO Car Insurance

TLO Insurance will provide compensation if the car has damage above 75% or severe damage that can no longer be repaired. How to calculate the comparison of car insurance for TLO car insurance premiums is not too difficult. For example if you buy a Toyota Yaris car for 20.000 $ , then the insurance premium that has been set is about 0.44 to 0.53%. The insurance party can determine the amount of premiums that must be and based on their calculations, the premium given is 0.50%. Then the calculation of premiums to be paid:

0.50 % x 20.000$ = 100$

If at any time your car has an accident and the insurance company calculates the damage to the car more than 75%, then you will get compensation according to the market price of the car. For example, at that time the market price of Toyota Yaris is 18.500$ , then you also receive compensation worth that nominal.

All Risk Insurance

All Risk Insurance protects your vehicle with wider coverage. Unlike the new TLO insurance provides protection costs when the damage is above 75%, with All Risk insurance, cars affected by blisters can also get compensation. This makes All Risk car insurance premiums higher than TLO insurance. The insurance company will charge an additional premium amount especially if your car is more than 5 years old, at least 5%. For example, you buy a Toyota Kijang Innova for 200,000$ that is 5.5 years old. Then, the insurance party will set an insurance premium of 5%. Then the calculation of premiums to be paid:

5 % x 200,000 $ = 10,000$