Motorcycle insurance premium: bonus-penalty ratio

Two wheeler insurance is expensive. An effective lever for reducing the size of his insurance premium is the bonus-malus ratio. Indeed, each biker is assigned a bonus or a fine depending on his driving experience. A special insurance premium, the calculation of which is not done at random, but according to certain rules that should be known to everyone, insurance premiums are premiums applicable to all types of motorized vehicles (cars, motorcycles, etc.).

How do you know if you have a bonus or penalty as a biker? How to get a 50% bonus on motorcycle insurance? What does the MAAF Lifetime Bonus consist of? For understand everything you need to know to calculate insurance premiums for motorcycles, this article explains some important concepts such as the famous bonus malus ratio.

What is the bonus penalty ratio?

Also called the enlargement-reduction ratio. Bonus-malus - index for calculating the insurance premium... It allows you to increase or decrease motorcycle insurance premiums depending on the behavior of the driver. The motorcycle insurance premium is calculated each year depending on the increase or decrease in this indicator.

The principle of the bonus-penalty coefficient

The purpose of the bonus malus is reward drivers for good behavior on the road. Hence, this is motivation. In insurer terms, this is about making the most profitable motorcyclists pay less for insurance.

Thus, in the absence of accidents and proper behavior, the insured rewarded with a reduction in motorcycle insurance premium, this is a bonus.

Conversely, in the event of accidents and claims for which the driver is fully or partially responsible, he sanctioned by an increase in insurance premium : this is fine.

Motorcycle insurance premium calculation method

Le the calculation of the premium for motorcycle insurance is made according to certain criteria... In particular, the age or occupational position of the driver, the history of driving, taking into account the driver's bonuses or penalties, and the use of the motorcycle.

of indirect factors are also taken into account when calculating the amount as a place to assess the risk of an accident or theft on the site. These factors are not directly related to the position of the rider as such.

Bonus penalty criterion applies multiplying the base bonus by the bonus-penalty coefficient... The obtained result will allow to reevaluate the size of the motorcycle insurance premium in the direction of decreasing or increasing.

In addition to price changes for motorcycle insurance, price changes from one year to the next can be explained either by a change in the situation (for example, buying a new motorcycle), or by a change in the guarantee level formula (change from comprehensive insurance to third party insurance), or annual update of your bonus penalty coefficient.

Bonus Malus connection between car and motorcycle

The bonus malus is valid for both motorcycles and cars. When you switch from motorcycle to car, Bonus-Malus motorcycle can be transferred to car and vice versa.

Moreover, when opening a new motorcycle insurance contract, the insurer will ask you to provide him a copy of all your insurance information reports, both a car and a motorcycle. In such a case, the new contract will be based on the best bonus penalty bonus rate.

An information statement is also required to open a new insurance contract, as it allows insurers to know your bonus malus as well as your past as a two-wheeled vehicle driver.

How do you know if you have a bonus or penalty as a biker?

To find out if you have a bonus or penalty, you can calculate it yourself if you are familiar with the calculation methods. These calculation methods have already been described in detail above. Even if they require relatively technical concepts, they are not difficult to apply. However, you can also contact your insurer to write you a newsletter.

In this regard, it should be noted that all insurers are required to provide policyholders with a newsletter as of the expiration date of each annual contract... The Insured can also request it when the need arises. The request can be made on appeal or in writing. By law, the insurer needs no more than 15 days to mail the document.

How to get a 50% bonus on motorcycle insurance?

The price of motorcycle insurance is the main criterion when choosing motorcycle insurance. The 50% bonus is the maximum discount an insured person can receive on their insurance premium according to the insurance code. To get this maximum bonus, you must be able to exemplify behavior for a certain period of time.

The principle of increasing bonuses every year

According to the Insurance Code, motorcycle insurance premium increases every year by about 5% in the absence of claims. So getting a 50% bonus rhymes with good driving without your partial or full responsibility for the accident. For how many years of responsible driving can the bonus to insurance premium reach 50%?

Correct behavior over thirteen (13) years of age

The increase in the bonus coefficient is 5% per year. So get The 50% bonus requires thirteen years of responsible and lossless driving.... However, there is no lifetime warranty upon reaching this bonus. Your bonus malus will continue to change based on your behavior throughout the year.

Impact of a motorcycle accident on a motorcycle insurance bonus

Any accident for which the insured is partially or fully responsible leads to an increase in the amount of his insurance premium, that is, to a decrease in the motorcycle insurance premium. In such a situation, several scenarios can arise.

General responsibility claim

In the event of a split liability claim, your the premium will increase by 12.5%... In other words, you thus share the malus coefficient with the second driver, whose responsibility comes after the decision on insurance is made.

Fully responsible claim

In the event of a claim for which you are solely responsible, your premium will be increased by 25%, i.e. a penalty of 1,25. Thus, as the only person responsible for the incident, the maximum penalty is applied.

Responsible requirement for policyholders who have reached the maximum bonus

As we said above, the maximum statutory bonus is 50%. For people who have reached this bonus for at least three years, the first responsible accident does not result in the loss of the bonus... They start to lose it from the second accident.

Lifetime MAAF Bonus

Obviously, even when the bonus is 50%, it is not for life. It keeps changing depending on your driving. To make it easier for the insured, some insurers, such as MAAF, offer lifetime bonuses to their customers.... These are commercial bonuses that are not directly related to the bonus-penalty ratio. However, this is an additional reward for motorcyclists who insure their two-wheeled vehicles, for example by taking out MAAF motorcycle insurance.

What is a Lifetime Bonus?

Le lifetime bonus is a lifetime commercial discount on insurance premiums offered by insurers and applied throughout the entire term of the contract under certain conditions.

MAAF Lifetime Bonus Conditions

To take advantage of the MAAF Lifetime Bonus, bonus-penalty coefficient - 0.50 interrupted for the only motorcycle and sole primary driver covered by this contract for the past three years.

Then the driver shouldn't have is not responsible for any accident within the last 24 months before concluding an insurance contract. Finally, the driver must have a driving license for at least 16 years.

The bonus-malus, determined depending on the behavior of the driver or rider, is taken into account when calculating the insurance premium. Therefore, it is important to learn how to drive well in order to get a discount on the insurance premium.