Classification in the car insurance

adminonFebruary 24, 2023April 6, 2023Leave a Comment

A policyholder's car insurance rating is sometimes based on more than 50 criteria. The questions in the insurance application have no statistical background, nor are the insurers inquisitive. They are all used to determine the premium for the insured vehicle. The times when horsepower and registration district were the only basics are long gone. What items ultimately lead to the premium determined?

The most important in short

In addition to the vehicle and the registration district, there are numerous other criteria that play a role in the classification.
Old small cars are not necessarily the cheapest option in the car insurance.
Many rating features cannot be influenced by the policyholder, such as occupational group discounts.
The classification in the respective no-claims class varies from insurer to insurer.

First, vehicle type and registration district

Who would like itself to buy a car, should compare in the apron once different vehicle types with one another. The idea that a ten-year-old Polo is cheaper than a new Golf can be deceptive.

Every year, the expert committee of the motor vehicle insurers analyzes anew which basic conditions accident causers fulfilled. One of these, for example, is that old Polos, Corsas and similar small cars are more often driven by young people. These cause more accidents than, for example, 45-year-old drivers. Among other things, this affects the premium for the vehicle.

Another important point that the policyholder cannot influence is the frequency of accidents in the registration district. Although the cities of Frankfurt am Main and Offenbach merge seamlessly, car insurance for a car registered in Offenbach is more expensive. Offenbach had the highest accident rate in Hesse for many years in the past.

The option of registering the car at the second home, and thus saving insurance premiums, is also eliminated. Cars may now only be registered at the main residence.

The individual details for the classification in the motor vehicle insurance

In addition to the car and the registration district, the individual specifications of the policyholder play a role. The question about the annual mileage allows a conclusion about the accident probability. Who only 5.000 kilometers per year is less at risk of an accident than a driver with 30.000 kilometers. The same applies to holders of a BahnCard or an annual public transport ticket. Those who drive by rail are less likely to be in a car and therefore less likely to have an accident.

Young people are more accident-prone than older ones. The question about the youngest driver is based on whether the driver is younger than 23 years old. If this is the case and he has not participated in accompanied driving, this can mean a premium surcharge of up to 100 percent. In general, the more people who use the vehicle, the higher the premium will be. Those with children under 15 drive more carefully. At least that is what the statistics say. Consequently, young parents also receive a discount.

Many policyholders are unaware that their premiums increase again with age. The age limit concealed by the insurers is usually 65 years. From the age of 75, a senior citizen surcharge of over 50 percent applies.

Civil servants have always enjoyed an occupational discount. Some insurers have now extended the occupational group discount to other occupations as well. Civil servants are said to be more careful with things than other people. Car insurance for civil servants is therefore often cheaper.

Statistically, this also applies to homeowners. Since homeowners statistically cause fewer accidents than renters, there is a discount here as well.

Anyone who has completed a driver safety training course has at least the theoretical prerequisite of being more likely to avoid an accident. Against this background, proof of such training is often also rewarded with a premium discount.

The likelihood of a car being stolen at night depends heavily on the parking lot. Insurance cover is cheapest if the vehicle is parked in a single or double garage. Carports and parking on the lot also reduce premiums, in contrast to "free parking" on the street.

Other criteria for the classification

Whether the policyholder prefers the free choice of repair shop after an accident or is willing to go to a repair shop specified by the insurer is another criterion that influences the premium. The scope of insurance coverage also plays a role, of course, as does the method of payment.

Classification in the no-claims class

In addition to the classification in the tariff itself, there is, as is well known, the classification in the damage-free class, the SF class, in motor vehicle insurance. This is based, on the one hand, on the date the driving license was acquired, whether it is the first vehicle or a second vehicle and on the number of accidents in the previous year.

Those who have never owned a car and have just acquired a driver's license, usually start with SF class 0. Those who have already had a driver's license for at least three years, but only then insure their first car, usually start with SF ½ or SF 1. The classification of second cars also varies from insurer to insurer.

If a driver has had a driver's license for many years but has never owned a car, there is the option of transferring the discount within the family. If grandpa drove accident-free for 30 years, he has SF class 30. If the grandson has had his driver's license for ten years, he can take over the grandfather's contract, at least with SF 10. The number of SF classes can determine each insurer itself. Until a few years ago, the highest level was SF 25, but today, classifications up to SF 35 are possible.

How high the classification in the motor vehicle insurance after an accident looks, depends on the insurance conditions of the respective insurer.

Classification in the SF class according to company car use

Many a user of a company car experiences a rude awakening after termination of employment. He retires at 65 after driving a company car for 30 years, leaving his first car to call his own. The classification? SF ½ or SF 1.

Only if it was agreed in the contract with the employer that the employee can take the no-claims bonus with him when leaving the employment, the classification with the current SF class is possible.

If you want to become a self-employed occupational therapist and have a health insurance license, you must provide proof of an existing occupational therapist professional liability insurance. Because the professional liability occupational therapy practices extensively protects, it should be missing in any occupational therapy practice anyway.

Professional liability is important for occupational therapists and occupational therapy practices not only because it covers legitimate claims for damages. It also keeps unjustified ones away from you and, if necessary, pays the legal costs for them. Insurance coverage is offered by the occupational therapist insurance for occupational therapy practices u.a. for personal injury, property damage or financial loss.

The professional liability costs are often very favorable, especially for occupational therapists in the sideline profession. In addition, it can be optimally combined with a favorable private liability for singles or also for the whole family.

Who can be insured?

Professional liability insurance protects occupational therapists from the financial consequences of personal injury, property damage or even financial loss in the event of a claim.

Occupational therapy / Chiropractic
Pediatrics / Geriatrics
Orthopedics / Rheumatology

Occupational therapists are advised to take out liability insurance for their business or freelance work in time to start their own business.

Occupational therapy professional liability: Recommendation!

It is always not easy to make a recommendation for a specific professional liability for occupational therapists. Why? Because one tariff might be optimal for you, but for other occupational therapists it might not be. then, because of further activities, which are exercised, does not fit. A favorable business / professional liability insurance for occupational therapy practices is offered u.a. following insurers:

Adcuri
Continentale
Gothaer
The liability insurance
Helvetia
Interlloyd

In principle, we recommend a short, telephone consultation on professional liability for occupational therapists. We will talk through your current situation and then send you a concrete professional liability offer, specifically tailored to your needs. You will not incur any (!) further costs. On the contrary, due to our specialization in health professions, we can offer you very favorable professional liability rates.

How high are the professional liability costs for occupational therapists??

Since professional liability costs vary depending on the type and scope of your activity, we will be happy to provide you with an individual offer. In addition to the activity as an occupational therapist, further activities can be included in the insurance cover. We will be happy to provide you with an individual professional liability offer for your occupational therapy activity at short notice and without complications.

What does professional liability for occupational therapy practices protect against??

In our opinion, however, the most important insurance for occupational therapists is professional liability. Self-employed people should not do without this coverage. While the professional liability insurance for occupational therapists protects practices in the event of personal injury or property damage and is also a compulsory insurance, other insurances for occupational therapists should rather be considered optional.

persons& Property damage up to 10 Mio. EUR sum insured
Damage caused by employees
Damage to rented premises

Other insurances may therefore be dispensable, especially for prospective self-employed persons, in order not to strain the financial budget unnecessarily. However, professional liability for occupational therapy practices is indispensable if you want to start your independent practice with peace of mind.

Getting healthy through activity

Occupational therapy is part of the medical health professions. Ergotherapy means "recovery through work". This means that an occupational therapist helps sick, injured or disabled people to regain their lost ability to act in everyday life or, in the case of small children, to establish this ability in the first place. A person's abilities can be lost due to an illness such as a stroke or an accident. They can also be due to disturbances in the development not matured at all. This is especially the case for children. The ability to act in everyday life means that a person is able to face his or her tasks and thus fit into society in order to lead a satisfying life. Occupational therapy aims to establish maximum independence and autonomy in everyday life, at school and at work. In order to achieve this goal, various occupational therapy approaches are conceivable. They aim to improve the physical and mental condition, to reduce suffering and pain and also to prevent or at least delay the need for care.

How occupational therapists work

Professional liability insurance for occupational therapy is important because even the best therapist cannot force a successful treatment. One will train and prepare physical movements depending on the disease pattern. In addition, strength, flexibility, endurance and coordination are improved, probably with a focus on the torso. Occupational therapists offer help for self-help by assisting with washing, dressing, eating, swallowing and drinking. They facilitate participation in everyday life by training the handling of money, means of communication, orientation in traffic, time management and daily structuring and many other important skills. In case of brain injuries, brain training is of course on the agenda. In individual cases, an occupational therapist also conducts an analysis of the living situation in order to adapt the living space to the patient's needs. Occupational therapy is used, among other things, for strokes and heart attacks, for congenital physical and mental damage, for rheumatic complaints, for children if they have behavioral or developmental disorders, and for people who suffer from impaired coordination of motor function. Other areas of application are age-related diseases, which include Parkinson's or Alzheimer's as diseases of the brain or multiple sclerosis as a disease of the nervous system.

A school education is possible

You become an occupational therapist through school-based training. This is therefore a training profession that is learned by attending a vocational school. The duration of the training is three years. In order to be successful in professional life and to experience fun at work, pedagogical skills and empathy are absolutely necessary. Patients want to be motivated and guided and need a therapist who is responsive to them. Communication skills and a willingness to get in touch are also necessary, because physicians are in regular contact with their patients. Perseverance and psychological stability are qualities that even a young professional should have. Finally, knowledge of biology to understand the human body and of technology are quite important if manual and creative techniques are to be applied to healing. After the training, it is possible to work as an employee or as a self-employed person. Employees are not usually required to have professional liability insurance for occupational therapy. They should be insured through the employer's professional liability, but in individual cases it is advisable to clarify the scope of insurance. This is the only way that employed occupational therapists can be sure that there will be no insurance gap in the event of a claim.

Self-employed persons need a professional liability insurance

Insurance coverage for self-employed occupational therapists is somewhat more extensive. On the one hand, professional liability for occupational therapy is strongly recommended. Those who want to be admitted to a health insurance fund are also required to have sufficient professional and public liability insurance.

Neither physicians nor health professionals can guarantee that a treatment will really be crowned with success. But there is always the risk that a dissatisfied patient may claim damages or compensation for pain and suffering. This may be the case when therapy has not been successful, has not brought relief or has even worsened the symptoms.

Occupational therapists can be held legally accountable for the damage that appears to have occurred. If there is no professional liability insurance for occupational therapy practices and the patient has demonstrably suffered a loss, the occupational therapist must pay for it out of his or her own pocket. In the worst case, this can result in financial ruin.

Further insurances for occupational therapists

In addition to occupational liability occupational therapy, other insurances are recommended. Commercial contents insurance covers damage that occurs to practice equipment and furniture. This damage can be caused, for example, by a burglary. Since technical equipment or sports equipment is expensive, it should definitely be covered by business contents insurance.

In addition, business interruption insurance is important. If the therapist has to stop his practice for some time because he himself is ill or because external circumstances do not allow him to continue, there will be a loss of income. Business interruption insurance pays for these losses and compensates for the damage incurred.

And finally, legal malpractice insurance is one of the most important types of insurance outside of occupational therapy professional liability. If there is a dispute with a supplier or even if your own employees are employed and there are disputes under labor law, legal protection insurance is very helpful. The insurance covers the costs of the lawyer and the court, and may also cover the costs of the other party if the case is lost.

Companies must be equipped with the tools necessary to operate. But if their operating costs are not managed, their financial health and business will be compromised. For example, if a company overstretches its office space, it may not have enough capital to pay employees. Companies that want to protect their bottom line should take steps to reduce operating costs. This will ensure their longevity and growth in today's competitive marketplace.

What are operating costs?

The operating costs are expenses related to the daily maintenance and management of a company. Organizations often refer to these costs as operating expenses, operating expenses or operating costs.

A significant element of operating expenses is the cost of goods sold (COGS), which is a direct expenditure for the production of products. The price of raw materials, supplies, manufacturing parts and shipping are some examples of the cost of goods sold. Listed below are other forms of operating expenses.

Labor and wage costs

Maintenance and incidental expenses

Employee pensions, health insurance, disability insurance and other benefits

Sales commission

Depreciated assets

Amortization

Operating costs can also be used to understand a company's bottom line. This is the total profit associated with running a brand. To determine this, total sales during a given period must be subtracted from operating costs. According to the previous example, the small company would have an operating profit of 400.000 US dollars.

8 tips to reduce operating costs

Companies that want to reduce operating costs without sacrificing the quality of their products or workplace environment should follow these best practices. This not only protects the brand's bottom line, but can also improve efficiency and increase competitive advantage.

1. Leverage technology

In today's digital age, there are a variety of business systems and software platforms available. These tools can automate and simplify certain tasks such as payroll, inventory tracking and supply chain management. These solutions increase productivity and business functions can be completed faster with fewer human errors. This means that companies can reduce labor costs and avoid delays caused by inaccuracies.

When selecting a business system or program, it may be helpful to consider the following questions.

What task needs to be improved?

Which business function works just as well?

Which process is the most time consuming in the company?

2. Providers of research results

Companies that rely on suppliers should research thoroughly to find one within budget. It is important to consider their wholesale prices as well as order minimums, delivery schedules and shipping prices. For example, a small business should look for vendors with low order minimums because they have fewer customers and requirements.

3. Outsourcing job offers

Another cost-effective way to improve operations is outsourcing. For example, if a sole trader doesn't have a strong background in accounting, they can outsource that task to a tax professional or accountant. This ensures accuracy and allows the company to focus on other key tasks.

4. Promoting telecommuting

Working remotely has become increasingly popular and convenient. In fact, statistics show that 4.3 million people in the U.S. work remotely at least half the time. In addition, Upwork reported that 22% of its workforce will work remotely by 2025. By telecommuting, the company doesn't have to lease office space or pay utility costs. It also eliminates the need to invest in office supplies such as printers and desktop computers.

5. Pay suppliers immediately

Reducing operating costs also includes paying all bills immediately. Companies should pay their suppliers' invoices either early or on time. This avoids late fees, interest and costly penalties. In addition, some suppliers give their customers discounts if they pay their bills early.

6. Note about inefficiencies

Unproductive processes and procedures can lead to wasteful spending and resources. For example, if a retailer's demand forecasting system is inefficient, it will subsequently spend unneeded capital on goods that its customers do not want.

To reduce costs, business owners should regularly evaluate their operations to quickly identify inefficiencies. It would also be helpful to collect employee feedback and suggestions. Because they work directly with customers and processes, they have better insight into what works and what doesn't.

7. Cancel subscriptions

Business owners and managers should regularly review the various services they subscribe to. If a platform has not been used for months, it may be cost effective to cancel it or find a cheaper plan.

8. Be more sustainable

Buying green consumables like recycled paper, smart thermostats and energy-efficient light bulbs can help reduce costs. There are also sustainable options for air conditioning and heating. This allows the company to reduce costs, but also maintain a comfortable and welcoming work environment.

By following these cost-cutting tips, many companies can get one step closer to lowering their business costs, increasing profits and improving cash flow.