Have you finally got your driving license? Long live your freedom! A getaway with friends, a weekend by the sea like everyone else, you are obliged to take out a BA FR44 Insurance before you hit the road.
Young driver
Young drivers pay more for their FR44 Insurance, because insurers rely on statistics. For example, they see that less experienced drivers are more often involved in an accident. And so insurers have to intervene more often for that group of directors. The insurers worked out special rates and rules for young drivers usually between the ages of 18 and 26.
What risks can you insure yourself against?
Determine what you need, so you can choose the coverage that suits you best. Ask your insurer or broker. Or read our section ‘ What risks can you insure against? Young drivers can reduce their premium in various ways. Some examples:
- Opt for a franchise;
- Accept certain restrictions (e.g. driving ban between certain hours or on certain days of the week);
- Demonstrate that there is already driving experience (e.g. the person concerned has been driving accident-free for more than 3 years);
- Take driving lessons or a defensive driving course to ask the insurer for favorable conditions;
- Since the premiums that differ in function of the vehicle’s power choose a vehicle with lower power.
This insurance covers involuntary material or bodily damage caused to third parties by the insured vehicle. It reimburses, up to the limit determined in the policy, the indemnities that the insured is required to pay, judicially or extra-judicially, for having caused personal or material losses to others.
How much should I hire for each coverage?
We recommend that these coverings are at least R $ 100,000.00 each material damages and bodily damages. And it is simple to exemplify why. For example: An insured person caused an accident involving 3 third party vehicles plus the insured person’s vehicle. The material damages caused were:
- Car 1: Total loss in the amount of R $ 40,000.00
- Car 2: Partial loss in the amount of R $ 12,000.00
- Car 3: Partial loss in the amount of R $ 7,000.00
In total this insured had a loss of R $ 59,000.00, and the insurance will cover up to the contracted limit, in which case if the insured contracted R $ 50,000.00 for the coverage of Property Damage would have a loss of R $ 9,000.00 . That is, an insufficient amount of R $ 50,000.00 would be an insufficient amount in this example.
For the coverage of bodily injuries, in the event of an accident involving victims, high compensation is paid with medical costs and treatment of the victim. To have an idea, we have a history of compensation claims of R $ 80,000.00, where it was necessary to have surgery for reconstruction of the leg of a traffic accident victim involving a vehicle and a motorcycle. This is very common accident these days.
Will I pay a lot more to increase this coverage on my policy?
The cost of this third party coverage is relatively low. See how the difference is very small to hire insurance, but it makes a big difference in their use.
Example:
- Material Damage – R $ 50,000.00 – R $ 277.00 is paid
- Body Damage – R $ 50,000.00 – R $ 142.68 is paid
Folding these covers:
- Material Damage – R $ 100,000.00 – R $ 295.73 is paid – Difference of R $ 18.73
- Body Damage – R $ 100,000.00 – R $ 173.28 is paid – Difference of R $ 30.60
With an average difference of R $ 50.00, you can double your coverage and be much more relaxed.
What are civil liability coverage?
The RCF-V covers can be basic and additional. The former provide guarantees for property damage and personal injury. The additional ones include moral and aesthetic damage and extension of the insurance perimeter to the countries of South America.
Material Damage
Covers the material damage that the insured vehicle reaches, which directly affects the assets of individuals or legal entities. Example, collision with a third vehicle or even the destruction of the facade of a store.
Bodily Damage Covers damages caused to victims such as hospitalization or treatment of the victim.
Moral or Aesthetic
Damage Complementary Coverage to Corporal Damages, covers legal damages if the victim has been, for example, crippled, deformed, prevented from exercising his profession, etc. and to claim a compensation from the insured in court, for these reasons.
3 tips for affordable FR44 Insurance
When was the last time you switched from car insurer? Are you determined and will you stay with the same insurer for years? A shame, because you can often save a lot of money on this! Read some useful tips for your FR44 Insurance.
Save on your FR44 Insurance
Small damage
The more damage-free years you have, the better. Have you had no damage for several years in the past? Then you build up claim-free years, which ensure that you can get a lower premium. Every year that you do not claim damage from an insurer is an extra claim-free year.
But what if you have a little bit of paint damage or, for example, damage to an outside mirror or brake light? Then you can also choose not to submit this damage as a claim to your insurer and to pay the costs yourself. This way you keep your no-claim discount and a lower premium.
The right coverage
Did you purchase a new car a few years ago? Then you probably opted for WA Allrisk coverage at the time. Smart, because you had a high daily value. But if your car is older and you have been driving it for 7 years, for example, the current value has decreased and chances are that you pay too much and have too much coverage. With a car that is between 5 and 10 years old, many people choose WA Extra, a lot cheaper than Allrisk.
Deductible
When taking out insurance, you often have a choice of the amount of the deductible. This is not only when taking out FR44 Insurance, but also, for example, with your health insurance. By increasing your deductible your premium will decrease.
Certainly on the road
Do you doubt whether you have FR44 Insurance that matches the car you have? Take the insurance and check whether the conditions are still appropriate for your current situation. Chances are that with some minor adjustments you will be cheaper.