18 April 2018
Our segmentation policy: what criteria determine your car insurance?
Our segmentation policy determines whether you can take out (or renew) a car insurance policy and how much you pay in premiums.
An insurance policy is drawn up based on your individual situation and characteristics. They are taken into account to offer you tailor-made rates. The information you provide is not only important when you take out the insurance policy, but also during the term of the insurance contract.
The following characteristics are determinative for accepting the Third-party liability insurance, the object and scope of the insurance and the price you will pay for it.
- The characteristics of the vehicle: such as the make, power, fuel, catalogue value and accessories, have an impact on the insurance premium of the cover you select. For example: higher insurance premiums are applied to more powerful vehicles.
- The vehicle’s use: the number of kilometres you will drive or the reason for which you will use the vehicle also contribute to the amount of the insurance premium. The more a vehicle is used, the higher the risk of loss or damage and therefore the higher the premium. If you only use the vehicle for professional purposes: the professional transport of goods, people or materials or the rental of vehicles may not be insured in the framework of ING Car Insurance.
- Your claims history: for example, a driver who suffered a lot of damage in recent years will pay a higher premium than a driver who has not suffered any damage. The price is calculated so that suits the driver as far as possible. The application of persons who have had too many claims in recent years may also be refused by the insurer.
- Your driving experience: for example, a driver who has had their driver’s license for over 10 years will pay a lower premium than someone who has just obtained their driving license. The price is then calculated based on the driver’s driving experience.
- Your place of residence: for example, a city-dweller runs a greater risk of damage than a person who resides in a more rural area.
- Whether you own your own home: there may be a difference in premium between owners and tenants of a property, because owners move house less often. This means that they are more familiar with their neighbourhood and cause fewer accidents.
- A combination of the age of the usual driver and the type of car: for example, a younger driver with limited experience but who owns a powerful car runs a greater risk of damage. This factor is therefore determinative for the premium and the drawing up of the insurance policy.
- The amount of excess: when you choose an excess of 800 euros instead of 400 euros, you may benefit from a more advantageous premium for your comprehensive insurance.
- Other drivers in your household: the insurance history, traffic offence convictions, limitations that influence driving behaviour, and the claims history of other people in your household declared as drivers of the vehicle also play a role in the acceptance of the insurance.
Please note: The simulated premium includes all costs, charges and taxes. They are mentioned separately in the policy documents.