Cordova has the cheapest life insurance in andalusia
Having a life insurance Cordova is cheaper than in the rest of the community and many parts of the country. This is evidenced by the report “Statistics of the Financial System in Andalusia. Insurance Entities’ published by the Statistical Institute of Andalusia (IEA), which reveals that the average premium is paid in the province to recruit life insurance is 589 euros.
This amount is far from the regional average in this chapter, which is placed in the 771 euros, and even more the national rate, which reaches 859 euros.
Within the ranking of autonomy, the province recorded the highest amount is Malaga, with 1145 euros, more than double the amount of Cordova, followed by Almeria, which is located in the 818 euros.
Regarding the trend of the figures, the situation has not changed much. In this way, between 2006 and 2007 (last updated by the IEA years), the average premium for life insurance signed in Cordova was increased by 4.2%, going into this period from 565 to 589 euros. In Andalusia, the rise was 12.3%, triple that in the province.
The fact that the life insurance contract that is in Cordova are the cheapest in the region is in contrast to that the province has one of the highest accident rates in the community. The IEA’s report indicates that the average number of accidents per policy of these features is 0.04, the highest in Andalusia with Seville and Malaga. However, in Spain the rate is 0.07, much higher than here.
As a result, insurance companies have had to spend a lot of money to defray the high accident rate that has been linked to life insurance. The study reveals that the average amount of each incident is placed in Cordova 478 euros, this being the second highest in the region. Andalusia was the average of 462 euros, while the national was 845.
Policyholders in the province also were forced to dig too pocket for the rest of the types of policies that are recruited.
This applies, for example, with motor insurance. In this case, the average premium to be paid in Cordova for this kind of protection is only 310 euros, which is 22 euros cheaper than in the whole of Andalusia, 66 fewer than in Spain. In this case, to find the cheapest policy in the community are traveling to Jaen, where you pay 284 euros just to have the car insured.
In this case, the loss ratio that occurs in the province is below the regional average. This way, if the average number in cordova car incidents involving vehicles covered by insurance is 0.35, in Andalusia is 0.38, while in Spain it is 0.39.
In this type of insurance policy with the province cheapest it agrees with that has the least number of accidents (Jaen), with just 0.31.
The fact that this statistic does not correspond to 2007 reflects the influence of all that has been taken in this sector the impact of the crisis (the first negative data began to occur in 2008). For this reason, the number of policyholders has increased steadily in recent years. The report notes that in 2007 were recruited in Cordova 1,606,062 insurance, 9% more than last year, when it stood at 1,472,215.
Rising incomes
The largest increase was recorded in life insurance, which grew by 14.7% in that period, to put in a total of 373,017 policies. The “boom” housing is one of the reasons for this considerable growth, largely because of the mortgages that are hired one of the requirements was the recruitment of various insurance, including the homeless and those in life.
This has enabled insurance companies to enter 602.24 million in 2007, 10.8% more than in the previous 12 months. Also here are the life insurance that have a greater market share, to account for more than 36% of the billing of insurers operating in the province.
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