Car insurance How to insure yourself correctly

Motor vehicle liability insurance:

Motor vehicle liability insurance is required by law. Without them there is no license plate.

What is insured:

Motor vehicle liability insurance covers justified claims that may arise as a result of an accident you are to blame for by third parties (e.g. compensation for pain and suffering, loss of earnings, damage to the other party’s car, recourse claims from social security for the hospital stay, medical costs). It also helps to defend against unjustified claims.

Damage to the insured vehicle itself is not insured. This can be covered by comprehensive insurance.

commercial vehicle insurance online,shop car insurance,commercial auto

choice of sum insured:

  • The statutory minimum sum insured is 7.79 million euros. 
  • This can be increased with a small premium surcharge.
  •  You should not skimp on the sum insured, because the claims against you can be very high. We have based our sample comparisons on an insurance sum of 19 to 20 million euros.

a notice:

Make sure you pay the premiums on time, otherwise the insurance company may make claims for reimbursement after an accident that could threaten your existence. 

If it happens to you that you have already been rejected by 3 insurance  cars companies, you can ask the insurance association to assign an insurer. However, this usually results in higher insurance premiums.

Comprehensive insurance fully or partially comprehensive:

You can insure damage to the vehicle with comprehensive or partially comprehensive insurance.

Partial casco insurance :

Partial casco insurance usually covers damage caused by theft, fire, explosion and natural forces such as hail, storms, lightning strikes, rockfalls, falling rocks, landslides or floods, and possibly also by roof avalanches.

 Collisions with furred game and possibly other animals as well as breakage of large glasses such as the windscreen, side windows, panorama roof and rear window are also insured.

Fully comprehensive insurance :

With fully comprehensive insurance, (self-inflicted) accidents are also covered.

In detail, there are enormous differences in the products: For example, whether parking damage, vandalism or gross negligence are also insured. There are also differences in the amount of the deductible and whether this applies to all damages.

An increased total loss benefit for vehicles that are still in new condition can also be insured. GAP cover, in turn, closes the gap between the replacement value that the comprehensive insurance pays for in the event of a total loss, for example of a leasing vehicle, and the outstanding settlement amount from the leasing financing (an example: the replacement value of the vehicle at the time of the accident is 10,000 euros, the open settlement amount EUR 13,000. The difference of EUR 3,000 is covered by the GAP cover).

When is a total loss:

In practice, it often happens that the insurance company determines that the car is a total loss. According to the usual conditions, this is usually the case in motor vehicle comprehensive insurance if the expected repair costs plus the residual value (wreck value) exceed the replacement value. 

  • The residual value is usually determined via so-called "wreck exchanges". These are online platforms where dealers can bid on the wreck.
  • In motor vehicle liability insurance, there is only a total loss if the expected repair costs exceed the replacement value of the vehicle by more than 10 percent. Up to this limit, the repair costs are covered in full (see our article on total damage to a car )

As an insurance benefit, you will receive the difference between the replacement value and the wreck value minus an agreed deductible. You get the wreck value replaced by the best bidder on the wreck exchange. 

commercial vehicle insurance online,shop car insurance,commercial auto

Therefore, do not only compare the premiums, but also the scope of services. 

Car insurance:

 you should pay attention to this

compare insurances:

Check again and again: Our surveys show that there are very large differences in premiums between the individual insurance companies. Therefore, get several quotes before signing up or changing car insurance. 

The insurance calculators that are available free of charge on the Internet can also give you an approximate orientation. However, it is advisable to visit several comparison portals, because no online portal offers the tariffs of all insurers. Another option is to contact an insurance broker. Insurers often change their offers, and the premiums can be completely different as early as next year. Therefore, regular comparisons - every 1 to 2 years - are worthwhile.

Take advantage of discount opportunities:

There are many different discounts, whether for infrequent drivers, civil servants or for registering a vehicle in a specific region.

pay annually:

  1. If you agree on an annual premium payment, you can save surcharges for payments during the year that are incurred with monthly, quarterly or semi-annual payments. For example, the motor-related insurance tax increases by 10 percent if paid monthly.
  2. On October 1, 2020, a consumer policy demand of the AK Upper Austria will be implemented:
  3. For vehicles registered for the first time after September 30, 2020, the surcharges for engine-related insurance tax during the year do not apply (6 percent for semi-annual, 8 percent for quarterly or 10 percent for monthly payments).

Transfer of bonus level from relatives:

Novice drivers are ranked at level 9 in the bonus-malus system. Is there someone in your family who wants to stop driving in the near future? If so, the often significantly lower classification can be taken over. 

Negotiate premium level:

You can also negotiate the premium level for a new contract. Newcomers do not automatically end up in the cost-intensive level 9 everywhere. However, keep in mind that the better classification only applies internally with the respective insurance company. If you change insurance, the association level applies.

free damage:

Some tariffs include a free damage. An accident does not result in a higher premium.

Deductibles for young drivers or seniors:

Some tariffs contain special deductibles for young drivers and/or seniors if they cause damage. You may incur additional costs here. 

Post a Comment

Previous Post Next Post