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When taking out car insurance, you have to take into account that there are certain factors that can influence the calculation of the premium. One of the most important is the accident history, which records the incidents that the insured has had on the road. As a driver, this is not only important because you have the possibility of obtaining benefits, but because it shows that you drive safely.
In this article we tell you what the accident history is, how it affects car insurance and its price, and what benefits you can get by keeping it clean.
What is the accident history in car insurance?
The accident history in car insurance refers to the record of an insured’s incidents or claims over a given period of time. This may include traffic accidents, theft, vandalism or other events.
How does accident history affect car insurance?
Accident history is an important factor that insurance companies use to determine the level of risk that a particular driver represents and to set insurance premiums.
A clean accident record, meaning one with few or no incidents, is generally associated with lower premiums as the driver is understood to be responsible and less likely to make claims in the future. In contrast, an accident record with multiple claims or accidents may result in higher premiums to compensate for the higher risk of claims.
In some cases, an unfavorable claims history can also affect eligibility or insurability. That is, insurers may limit the purchase of certain coverages or even not renew the policy after its expiration. Likewise, a negative history can have an impact on the claims that a policyholder makes. A clean claims history can result in a smoother claims experience and the protection of no-claim bonuses.
Does the accident history affect the price of car insurance?
As we have seen, the accident history does have a significant influence on the price of car insurance, as it is one of the factors that insurers take into account when calculating the premium. Maintaining a clean record, without accidents or claims, can help save money on insurance in the long term.
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Do insurance companies offer benefits for maintaining a clean accident record?
Many insurance companies offer benefits and discounts to drivers who maintain a clean accident record. In addition to lower premiums, the insured may receive some of these benefits such as good driver discounts, no-claim bonuses, and rewards programs.