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The Secret Behind Car Insurance Premiums

If you have a car and have been paying for your car insurance without knowing anything about the things that affect your premiums, then you are in the right place.

Like other types of insurance, car insurance premium rates in Indonesia are limited by applicable rules, and all insurance companies are required to use the same premium rate basis. This figure is determined by the following factors:

1) The age of the car owner. Most companies have a similar age group categorization.


2)  Driving experience. This refers to how long (in a matter of years) the driver has had a driver's license (SIM) and not the actual driving experience.

Most insurance companies offer low premium rates for car owners with driving experience of four years or more.

3)  The sex of the car owner. This factor may not apply to all insurance companies, but some companies charge premiums. This may not apply to every insurance company, but some companies charge lower premiums for male drivers or vice versa. This could be based on the individual company's statistics.

4)  Type of work. This is determined by whether your work is indoors or outdoors. For example a job as a salesperson is considered to be an outdoor job, therefore a higher premium will be charged.

5)  Discount without claims. Car owners can enjoy discounts or bonuses that vary each year if no claims are made in the previous year. The maximum discount offered can reach 100% in certain insurance companies with pre-determined conditions.

6)  Engine capacity (cc). This refers to the capacity of your car's engine or which is often referred to as cc. The lower the cc, the lower your premium rate.

7)  Manufacturing year. The year of manufacture or year of registration of your car will affect your premium. Generally, the older your car, the lower the premium.

8)  Type of car, such as MPV, SUV, or 4WD (4- wheel drive ). Some companies charge different premiums depending on the type of car.

9) Engine type. It is important to know that most insurance companies charge higher premiums for cars with turbo engines. Some other companies even refuse cars with this type of engine.

As with insurance practices in general, if you buy car insurance for a new vehicle, the amount insured should be the purchase price of the vehicle. For older vehicles, you must ensure it based on the value of the vehicle on the market. It's better to ensure a higher price because you can ensure that you will receive a full payment if you submit a claim.

If you want to buy your insurance at a new company but still receive a discount without a claim that you have with the old company, you can request a letter stating the status of the discount without your claim from the old company. Discounts without claims can also be transferred if you change your vehicle.

For those of you who want to get information about the cheapest and most trusted Car Insurance in Indonesia with a car insurance premium price calculator, please check the cheapest car insurance comparison

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