If you are buying a car with a mortgage, then the car belongs to the bank, and you must buy full insurance in the first year. But in the second year, the car owner can choose the appropriate auto insurance based on his or her own situation. That is, the second-year auto insurance calculation method for a mortgaged car is the same as the second-year auto insurance for a fully paid-up car.

As for how to calculate the second year of car insurance, this is mainly calculated based on some reasons of the car owner. For example, the number of types of car insurance a car owner chooses. The more types of car insurance the car owner chooses, the more the car insurance cost will be in the second year. On the contrary, the fewer types of car insurance the car owner chooses, the less he will spend. Another point is related to the car owner's own driving habits, which is commonly referred to as the number of insurance claims.

Usually, insurance companies stipulate the following three situations:

1. No accidents in the first year;

2. The number of accidents is less than two (including twice);

3. The compensation amount in the first year is lower than the premium amount.

If the car owner meets the above three conditions, the car owner will get a preferential insurance price in the second year. If the car owner has multiple accidents in the first year, the car owner will not enjoy the price discount, and the car insurance premium will definitely increase in the second year, even higher than the first year's premium. Some car owners will think of changing insurance companies for insurance. In fact, changing insurance companies will not help because most insurance companies' systems are now connected to the Internet, and the owner's accident records can be seen at a glance. If there are multiple accidents, the car owner is likely to be listed. Entered the "blacklist" of the insurance company.

Extended reading: How to buy insurance, which one is better, and step-by-step instructions to avoid these "pitfalls" of insurance