What does comprehensive insurance with a deductible of €1000 mean?
How high should the deductible be for comprehensive insurance?
How high should the fully comprehensive deductible be? For fully comprehensive insurance, most policyholders choose a deductible of 300 euros. Basically you are not doing anything wrong. The insurers reward this with a significant price advantage.
How does deductible work with fully comprehensive insurance?
The deductible is the contractually agreed portion that a policyholder pays himself in the event of a claim. The insurer reimburses the amount in excess of the deductible. You can usually choose between different deductibles.
What is better comprehensive insurance with or without excess?
The rule of thumb is: With a deductible of 300 and 150 euros (fully comprehensive and partially comprehensive), the premium is reduced by a good 20-30 percent compared to fully comprehensive and partially comprehensive insurance without a deductible; But there are also cases where you can save 40 percent or more with this deductible!
What does fully comprehensive insurance pay for if you are at fault?
However, liability does not cover damage to your own vehicle. Partial casco does not apply to self-inflicted accidents, self-inflicted accidents are fully comprehensive damage. Only fully comprehensive insurance applies to personal damage.
Collision Damage Waiver — Saving through excess
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What does comprehensive insurance not pay for?
What does comprehensive insurance not pay for? Typical cases where the fully comprehensive insurance would not pay would be accidents under the influence of drugs or alcohol. If you still drove your car while your license was suspended, the fully comprehensive insurance will not cover any damage to the vehicle either.
What is paid for with fully comprehensive insurance?
The fully comprehensive insurance covers on the one hand all benefits of the partially comprehensive insurance (theft, natural hazards, animal collision and animal bites, fire, glass breakage, etc.). It also pays for damage to your car caused by an accident or vandalism that you are at fault.
What does deductible 500 € mean?
The higher the deductible, the lower the insurance premium. In the event of damage, this means that you pay your own share for the repair, for example 150 euros. However, the damage amounts to 500 euros. The car insurance covers the remaining amount of 350 euros.
What does deductible 300 euros mean?
Deductible in fully comprehensive insurance
Many policyholders choose a deductible of between 150 and 500 euros: with a deductible of 150 euros, the insurance is 20 percent cheaper on average. With a deductible of 300 euros you can save around 26 percent.
When do I have to pay the deductible?
The deductible is usually due for each claim. If a policyholder has frequent accidents and therefore often has damage repaired, he must pay the deductible amount each time.
How high does comprehensive insurance increase after an accident?
In principle, however, there is no upgrade in the insurance after an accident, but a downgrading in the no-claims class.
What replaces fully comprehensive insurance in the event of a total loss?
The compensation is made up of the insurance benefit plus the value of the accident car determined by the vehicle appraiser. The insurance company must therefore pay a maximum of 130% of the replacement value (9.100 euros). The residual value determined by the appraiser (3.000 euros) is not paid out by the insurer.
How long should you insure a car with comprehensive insurance?
Comprehensive insurance is recommended for the average private driver who owns the vehicle until the vehicle is about five years old.
Is there a rental car with fully comprehensive insurance?
Unlike motor vehicle liability insurance, comprehensive insurance is not obliged to cover the costs of a rental car, the Frankfurt Higher Regional Court ruled (Az. 7 U 174/00).
Which is better total loss or repair?
In the event of a technical total loss, the car can no longer be repaired. The remainder is zero. In the case of an economic total loss, the car can still be roadworthy; however, the repair is no longer mathematically worthwhile because the value of the car is significantly lower than the estimated repair costs.
Is engine damage insured with fully comprehensive insurance?
However, comprehensive insurance covers damage to the engine as a result of an accident. If your engine damage is assessed as consequential damage from a marten bite, the partially comprehensive insurance also pays — because today it usually also covers the consequential damage. There is usually no special engine damage insurance as a single component.
Can you be upgraded to comprehensive insurance?
Liability and fully comprehensive insurance
In both liability and fully comprehensive insurance, the upgrade takes place after the insurer has settled the claim. The new classification usually takes effect from the next insurance year.
When should you switch from fully comprehensive to partially comprehensive?
Fully comprehensive insurance is primarily worthwhile for new cars and expensive car models, as well as for novice drivers. From a vehicle age of five years, it usually makes sense to switch to partially comprehensive insurance.
When is fully comprehensive insurance no longer useful?
In general, the rule of thumb applies: fully comprehensive insurance is worthwhile for new cars that are not more than five years old. After that, a partially comprehensive insurance is usually useful. Here, however, you must note that the partially comprehensive insurance only replaces the current value of the car in the event of damage.
How much does fully comprehensive insurance cost per year?
On average, Germans spend around 250 euros on motor vehicle liability insurance per year; if partial casco is added, it is about 340 euros, for fully comprehensive insurance it is about 565 euros.
What happens if the damage is higher than the value of the car?
The essentials in brief. An economic total loss occurs when the repair costs exceed the replacement value of the damaged vehicle. The insurance usually pays the replacement value minus the residual value.
Who owns the car after a total loss?
Who owns the car after an economic write-off? The accident vehicle remains in the possession of the injured party after the claim has been settled, as the residual value is deducted from the insurance company.
Can I keep the car after an economic write-off?
Yes, provided you are the holder. You remain the owner of your car even after a total loss. The car insurance has already deducted the residual value when paying. You can keep the car, deregister it or sell the accident car.
How far are you downgraded after an accident?
However, you will usually be downgraded by at least six levels in the event of an accident — and you will have to reckon with lower discounts.
How much SF do you lose in an accident?
Most providers downgrade motor vehicle liability from SF 15 to SF 7. Others even send insured persons to SF 6 or SF 5 after a claim, sometimes even to SF 4 or SF 3. From SF 7 you need eight claim-free years back to SF 15, from SF 3 even twelve years.
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