In France, motorists have the obligation to insure their vehicle by subscribing to a minimum of civil liability cover. Are you looking for an extended car insurance policy at the best price? What about the 50 lifetime bonus?
A few reminders on the bonus-malus system
The bonus-malus system or reduction-increase coefficient makes it possible to obtain a reduction or increase in the insurance premium at each annual expiry date. The modification of this amount is made according to the claims for which the responsibility of the insured has been incurred over a given period.
If there have been several responsible claims during the year, this may lead to an increase in the reduction-increase coefficient and therefore in the reference premium. Conversely, the absence of a claim can lead to a drop in the coefficient and a reduction in the amount of contributions.
If insurers are forced to apply the bonus-malus rule, they freely determine their reference premiums. It is therefore important to check the applicable reference premium in the contract.
Bonus-malus calculation method
The bonus-malus cannot be less than 0.5 and greater than 3.5. During the first subscription, it is equal to 1.
Each responsible claim occurring during the annual reference period leads to a 25% increase in the bonus-malus. For example, if a motorist with a base coefficient of 1 causes an accident during the first year, this will increase to 1.25. A second accident during this period would bring the coefficient to 1.56.
Each annual period without at-fault loss allows the bonus-malus to be reduced by 5%. Starting from a bonus-malus of 1, after a first year without any responsible claim, the coefficient will drop to 0.95. It can go down to at least 0.50.
What is the 50 for life bonus?
The 50 for life bonus was introduced by the MAAF in 2007 before being taken over by other insurers. This is a commercial offer independent of the law. Indeed, the Insurance Code specifies that the maximum reduction that an insured can obtain on his departure premium is 50%. However, it says nothing about maintaining this bonus for life.
How to get a 50 lifetime bonus?
To benefit from the 50 for life bonus, the insured must adopt exemplary behavior for 13 consecutive years without a declared responsible claim. Although this period may seem long, the insured's reduction-increase coefficient is likely to drop by 5% each year. So you have to be patient to be able to claim it.
It is important to specify that the insurers offering the 50 for life bonus are often intransigent and do not hesitate to terminate their customers involved in too many claims. This offer should be seen more as a temporary premium reduction.
Bonus 50 for life: what impact on the price of car insurance?
To make a tariff proposal, insurance companies rely on several criteria: criteria related to the vehicle (make, model, age, purchase value, fiscal power, type of engine, use, etc.), criteria related to the driver (age, sex, family situation, place of residence, date of obtaining the driving licence, type of licence, driving history, etc.).
Obtaining a 50 for life bonus affects the price of car insurance. Indeed, this reward has the effect of maintaining the reduction-increase coefficient and the amount of the insurance premium at their lowest level.
Responsible claim and bonus 50 for life
You should know that each claim is reported on the statement of information, an official document which contains the main information of the contract (date of subscription, drivers covered, information on the vehicle). This statement includes the driver's history over 2 to 5 years and allows you to consult the summary of claims, the driver's responsibility in each accident, his bonus-malus.
Consequently, in the presence of several at-fault claims, the driver will lose his 50 lifetime bonus on the next subscription and will probably see the amount of his premium increase according to the number of accidents recorded.
How long does it take to recover his 50 for life bonus?
Policyholders who have lost their 50 for life bonus following the occurrence of one or more responsible claims can recover it by displaying exemplary behavior for 3 years. Subscribing to a contract with another insurer will not change this rule since all the information will be transmitted to it, including the reduction-increase coefficient.
How to know his bonus-malus?
Many policyholders wonder where to find their bonus-malus. This coefficient appears on the notice of expiry or the call for contributions sent each year by the insurer. The document indicates the amount of the reference bonus defined by the latter as well as the net bonus after application of the bonus-malus.
The bonus-malus also appears on the information statement. You can request this document at any time from the insurance company. It will also be essential if you plan to change auto insurance.
How to find the best 50 for life bonus car insurance?
Would you like to take advantage of car insurance providing a 50 for life bonus in the absence of a responsible claim after 13 years? To sort through the offers on the market, do not hesitate to use an online comparator. This free and non-binding tool is easy to use, by completing a quick form on the characteristics of the vehicle to be insured and your profile. This information allows the comparator to offer you the best car insurance quotes.
Do you prefer to obtain personalized advice throughout the subscription? A broker can assist you in this process by comparing offers for you and negotiating guarantees and rates with its partners. Concretely, going through an auto insurance broker does not commit you to anything!
