Why no insurer wants to make sure?

Whether in the case of a newly purchased car or cancellation, these are the words that nobody wants to hear your insurer: "your insurance application has been rejected," or "your policy has been canceled." Find that the insurance company does not ensure or has decided to cancel the auto policy is not the most common, but it is extraordinary.

Moreover, under Spanish law, effective in early 2008, all vehicles, including second hand, must have car insurance minimum coverage which is mandatory liability. Circular without it can mean sanctions ranging from 601 euros to 3,005 euros.In the activity of insurance companies that do nothing but take the risk to charge a premium to the consideration of that may have to deal with compensation claims.

That is, the business insurance sector is charging a premium take enough risks. An insured's typical thought is: "What a waste of money, do the insurance, which cost me, not have needed to use it throughout the year." But the company also argues thus: "In exchange for a policy of less than 300 euros and due to the accident caused by the user have to pay 3 million euros."

Determinants

The factors that make a company pigeonhole in a high-risk profile and a user rejects are two:- Type of conductor: the pattern following insurers is that younger age, the greater the risk, and also has the driving experience, as years of license. Thus, we reach a limit that makes the company reject the risk. It is the case of several insurers who reject drivers under 25 years and / or for vehicles with less than 2 years of license, or any age for that matter driving motorcycles or mopeds.

Unable to establish a fixed rule that applies to all companies, because while a limit on age and years of driving license it is 25 and two years respectively, this ratio up to other 27 and 5, for example .- Vehicle Type: A higher power / weight ratio, higher risk is assumed, so that it reaches a limit in which the company rejects the risk. This is the case style cars Ferrari, Porsche ... or other more modest as the Ford Focus ST, Renault Clio RS, the Seat Ibiza Cupra.As with the type of driver can not establish a fixed rule assuming cars "dangerous", and that while some companies can not ensure an Opel Corsa OPC, for others it is possible but prohibitively or to other normal risk is acceptable as any other vehicle.Moreover, these two risk factors need not be separated, but often analyzed as a whole, ie it is possible to secure a Citroen DS3 Sport unless the driver meets certain characteristics, for example, less than 35 years and less than 2 card.In the event that the insurer did not want to hire car insurance, we are able to recruit the required or mandatory liability insurance, which has the minimum coverage required by law. Only what we can find in the Insurance Compensation Consortium.