The bonus malus is a system used by insurers, by which they give a Bonus or one criminalization to Tomato of a Sure.depending on your sinister historythe sinister of which he has been a part of the insurance over the years. The bonus malus is different for each company, although they have a certain resemblance. In this article we will talk about this concept and its implications for the price of insurance.
Bonus Malus
If you have a vehicle and you look for insurance for it (car, motorbike, van, caravan, fleets, classic vehicles (c) premium that you will pay does not have to be the same as the one someone else pays for that same vehicle. It will depend on many factors, one of which the most impacts in the price is the system of bonus malus, your history as driver: the number of claims you have had and those you have given part to insurance.
The cousin of a person who has never given a part or given innocent parts is going to be lower than the one that has given several guilty parties, as the insurer probably loses money with the latter, while with the former it makes much more. The good driver has much less risk that the driver who has guilty parts. Therefore, the insurers decide to raise the price to the drivers who have parts and to lower it to those who have no parts or are innocent.
This decision to raise and lower prices is what in the insurance world is called bonus malus. The bonus malus is the system that insurers apply, a system of bonuses and penalties with which your insurer will determine your premium.
There is no single system of bonus malus, but each insurer has his own. For this reason, some insurers reach bonuses up to 65% while others remain at 50%. The same applies to penalties, which some companies establish their system of bonus malus with penalties greater than other insurers.
Bonds and penalties
As we have already said, the bonuses and penalties are directly related to your previous sinister:
The bonus
To have a good bonus you must have a low sinister. The bonus malus system allows to identify the price of the premium and reward those who have no accidents or have few accidents and these are innocent.
Criminalization
If you have a high sinister, the insurer will apply a penalty, raise your premium price. Even if your sinister is too high, the insurer can refuse to secure you and you will have to go to the Insurance Compensation Consortium.
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