单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,*,*,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,*,*,Lesson 28 Vehicle Insurance,Lesson 28 Vehicle Insurance,1,Vehicle insurance(or Auto insurance,car insurance,motor insurance)is insurance consumers can purchase for cars,trucks,and other vehicles.Its primary use is to provide protection against losses incurred as a result of traffic accidents.An insurance company may declare a vehicle totally destroyed，if it appears replacement would be cheaper than repair.,Vehicle insurance(or Auto ins,2,Insurance can cover some or all of the following items:The insured party,the insured vehicle,and third parties.Different policies specify the circumstances under which each item is covered.For example,a vehicle can be insured against theft,fire damage,or accident damage independently.,Insurance can cover some or al,3,Public Policy,In many countries it is compulsory to purchase auto insurance before driving on public roads.In the United States,penalties for not purchasing auto insurance vary by state,but often involve a substantial fine,license or registration suspension or revocation,as well as possible jail time in some states.,Public Policy,4,Usually the minimum required by law is third party insurance to protect third parties against the financial consequences of loss,damage or injury caused by a vehicle.Typically,coverage against loss of or damage to the drivers own vehicle is optional-one notable exception to this is in Saskatchewan,where SGI1 provides collision coverage(less a$700 deductible)as part of its basic insurance policy.,Usually the minimum required b,5,In South Australia Third Party Personal insurance from the State Government Insurance Corporation(SGIC)is included in the license registration fee.South Africa allocates a percentage of the money from petrol into the Road Accidents Fund,which goes towards compensating third parties in accidents.Most countries relate insurance to both the car and the driver,however the degree of each varies greatly.,In South Australia Third Party,6,Basis of Premium Charges,Depending on the jurisdiction,the insurance premium can be either mandated by the government or determined by the insurance company in accordance to a framework of regulations set by the government.Often,the insurer will have more freedom to set the price on physical damage coverage than on mandatory liability coverage.,Basis of Premium Charges,7,When the premium is not mandated by the government,it is usually derived from the calculations of an actuary based on statistical data.The premium can vary depending on many factors that are believed to have an impact on the expected cost of future claims.,When the premium is not mandat,8,Those factors can include the car characteristics,the coverage selected(deductible,limit,covered perils),the profile of the driver(age,gender,driving history)and the usage of the car(commute to work or not,predicted annual distance driven).,Those factors can include the,9,Gender.Men average more miles driven per year than women do,and have a proportionally higher accident involvement at all ages.Insurance companies cite womens lower accident involvement in keeping the youth surcharge lower for young women drivers than for their male counterparts but adult rates are generally unisex.,Gender.Men average more miles,10,Mistaken reference to the lower rate for young women as“the womens discount”has caused confusion that was evident in news reports on a recently defeated EC proposal to make it illegal to consider gender in assessing insurance premiums.,Mistaken reference to the lowe,11,Ending the discount would have made no difference to most womens premiums.Changing to per-mile charges,however,would benefit anyone whose car was driven less than average,including the majority of women who are overcharged at current per-year rates.,Ending the discount would have,12,Age.Teen drivers who have no driving record will have higher car insurance premiums.However young drivers are often offered discounts if they undertake further driver training on recognized courses,such as the Pass Plus2 scheme in the U.K.In the U.S.many insurers offer a good grade discount to students with a good academic record and resident student discounts to those who live away from home.,Age.Teen drivers who have no,13,Generally insurance premiums tend to become lower at the age of 25.Senior drivers are often eligible for retirement discounts.,Distance.Some car insurance plans do not differentiate in regard to how much the car is used.However,methods of differentiation would include:,Generally insurance premiums t,14,Reasonable estimation.Several car insurance plans rely on a reasonable estimation of the average annual distance expected to be driven which is provided by the insured.This discount benefits drivers who drive their cars infrequently but has no actuarial value since it is unverified.,Reasonable estimation.Several,15,Odometer-based systems.Cents Per Mile Now(1986)advocates classified odometer-