Toyota vehicle recalls intensified also affect the car insurance premium. According to “Changsha Evening News” reported that some insurance companies have increased the level of Toyota car insurance rates, the maximum increase up to 4 percent. Reporter was informed yesterday from the insurance companies who, in Beijing specifically for the insurance company has not yet Toyota and price increases. However, according to Beijing Insurance Association said Li Feng, director of auto insurance, the future risks based on different models to work out the relevant floating coefficient.

    Japanese car insurance premiums than similar models

    China Insurance Regulatory Commission said yesterday that the relevant parties and have not heard of insurance companies specifically for the Toyota vehicle recalls, and improving vehicle premiums. China Automobile Insurance Department Joint North points to analysis, said the field is likely to improve Toyota auto insurance premium discount is no longer a low discount, and to float the basis of the premium.

    PICC-related sources, as early as a year ago, the entire industry on the rate for Japanese cars have control. The source said the loss ratio by comparing the situation found that Japanese cars are more cases of dangerous condition, and parts prices are more expensive, leading to Peifu volume than other models.

    ”Rate control measures included in the underwriting on control, such as properties, especially the bad, dangerous condition of the high rate of Japanese cars may be refused coverage.” PICC pointed out above, the loss ratio was stuck atop a situation, only increases the premium, the premium Japanese cars generally higher than the price of the vehicle similar to your point.

    According to report, for example PASSAT, Mondeo, Honda Accord and so several senior car insurance premium quote, the Department of Che Sunxian Buick lowest cost, higher Accord and other Japanese car series; insurance Daoqiang Xian, Regal, PASSAT , Mondeo and other basic part of the same risk level, Accord relatively high rate because of dangerous condition, the disparity in the level of risk, the rate coefficient is higher than other models.

    Future considering the introduction of pricing by car

    Despite the different models affect the insurance premium, but the main reference of the domestic insurance companies or loss ratio, and there is no uniform price for the car industry standards.

    ”Foreign price premiums according to the car already use for many years, because of lack of relevant domestic data, not yet able to launch a unified standard pricing models.” CIRC say, China Insurance Regulatory Commission has conducted research projects for over a year .

    According to report, insurance companies, auto insurance terms submitted to the CIRC, and do not specifically address the terms of a single model.

    While in Beijing from January 1 this year, since introduction of the new floating rate commercial auto insurance program auto insurance premiums and claims floating the main frequency of claims linked to the amount of factors.

    Beijing Insurance Association, said Li Feng, director of auto insurance, the future will certainly be based on different models of the risks, formulate a correlation coefficient of floating, but not specifically for Toyota introduced the floating standard.