Around 40 million privately used cars are registered in American . For each vehicle at least a motor vehicle liability insurance must be completed, most motorists also opt for a comprehensive insurance. Although motor insurance is a mass market, hardly any contract is the same. Because: The respective contribution is based on many factors, including the individual risk. To determine this, the insurance companies take various risk features into account.
Each insurance company calculates their tariffs and contribution levels differently: some companies give discounts for electric cars, others for certain professions or customers with multiple contracts, others take more money when the car is on the street and not in the garage. The ultimate contribution of a motor insurance policy is determined by many factors – the competitive environment and marketing strategy of insurers, as well as the expectation of what damage is caused to an insured vehicle.
The American motor vehicle insurers can draw on statistics from the American Insurance Association (GDV) for their assumptions of expected claims. Every year, GDV statisticians evaluate the data of almost all motor insurance companies in Germany and calculate how different risk characteristics affect them. To do so, they differentiate the data of the insured cars among other things for around 28,000 different vehicle types, for over 400 registration districts as well as for the age and the years without damage to the drivers.
For the statistics of the motor vehicle liability insurance , the insurance benefits for injured third parties after traffic accidents are decisive. In the calculations of comprehensive insurance cover the insurance benefits for damage to your own car for self-inflicted accidents and for partial coverage damages (including car theft, glass damage, wildlife accidents or damage caused by natural events). For the partial coverage insurance, only partial coverage damages are considered.