Your new car will soon be available. Its value makes you lean more towards comprehensive insurance … It’s a good decision because it is the best Car Insurance for a price vehicle.
But how does it work? What guarantees does it contain? We will explain everything to you.
What is comprehensive insurance?
All-risk insurance is the most comprehensive insurance in terms of coverage, whether for the protection of the driver or the protection of the vehicle.
In addition to the compulsory civil liability insurance for motorists, it includes additional guarantees ensuring you broader compensation in case of calamity whether you are responsible or not, and whether the third party is identified or not.
What is the difference between third-party insurance and comprehensive insurance?
In-car insurance, third-party insurance corresponds to the civil liability guarantee: this is the compulsory minimum insurance to take out for a land motor vehicle. It covers the damage that you could cause to a third party, whether it is a person (for example you injure someone), or their property (you crash into another vehicle, a wall, a gate, etc.).
To put it simply: third-party insurance will compensate for the costs resulting from the damage you have caused (to use our examples: bodily injury to the injured party, the cost of repairing the wall or the gate). These costs can quickly reach considerable sums, especially when it comes to bodily injury!
The third-party formula, with some insurers, does not cover the driver for bodily injury that he may suffer. In addition, the vehicle is not covered for material damage… Unlike all-risk insurance, which offers more comprehensive guarantees that cover damage suffered by the driver and his vehicle.
The guarantees included in the all-risk insurance
The all-risk car insurance contract, therefore, offers a level of cover much higher than the third-party insurance. In addition to the third-party formula (which generally includes the Criminal Defense and Appeal guarantee), the all-risk car formula includes a set of comprehensive guarantees for the driver as well as for the vehicle.
Driver’s guarantee
Essentially, this guarantee covers the injury suffered by the driver, whether or not he is responsible for the accident. According to the contract, it covers medical expenses, hospitalization, surgery, temporary incapacity, invalidity, and death. Check the general conditions for the amount of this guarantee, which may be higher or lower. Some Driver guarantees cover up to 1 million euros.
All-accident damage cover
Are you responsible for an accident and your car is damaged? The cover Damage all accidents comes into play. It covers all material damage that your vehicle may suffer. Very protective, this guarantee works even if you are responsible or if the third party has not been identified (examples: you find your door stamped, you hit a post…). Check the level of the deductible before taking out this guarantee.
Theft or attempted theft (if there has been a break-in), fire, vandalism, or destruction by a climatic event (storm, tornado, hail, snow, lightning, etc.): this set of guarantees is recommended for valuable vehicles and allows you to be compensated up to the value of your vehicle determined by an expert. If your car is found, any damage caused by thieves is also reimbursed.
Glass breakage guarantee
Did gravel impact your windshield? Play the glass breakage warranty. This warranty covers damage to the windshield and side windows. Some insurers, including Allianz, even extend it to the rear window, sunroof, and front lights.
Natural disasters cover
Has a flood-damaged your car? This guarantee covers direct material damage suffered by the vehicle following a natural phenomenon, provided that it is recognized as a natural disaster by an interministerial decree published in the official journal.
Technological disasters cover
It compensates for the property damage suffered by the vehicle caused by an accident declared a technological disaster by interministerial order published in the Official Journal.
Support
More or less extensive assistance services in the event of a breakdown are included in all-risk insurance.
The options
To this all-risk formula, you can add assistance options (0 km breakdown assistance, replacement vehicle loan, vehicle contents, etc.) or a legal protection guarantee, which is always useful. in the event of a dispute with another motorist.
Why take out all-risk car insurance?
With all-risk insurance and its extended warranties, you rely on the security and complete protection. Whether you are responsible or not, whether the third party is identified or not, in the event of a claim, this all-risk formula covers both the driver and his car. Whatever happens, you have the assurance of driving serenely, with peace of mind.
What’s more, in case of a calamity, all-risk insurance allows faster compensation, because the compensation by your insurer is paid without waiting for the dispute to be settled with the insurer of the opposing party.
In return for this comprehensive coverage, all-risk insurance is naturally more expensive and is therefore not necessarily suitable for all situations and all vehicles.
In which cases should you take out all-risk car insurance?
Please note: The following criteria are indicative and may not correspond to all situations. We recommend that you have a good discussion with your adviser before opting for third-party or all-risk insurance.
- Take out an all-risk car insurance policy if your vehicle is new or if it is a collector’s vehicle and if its resale value is high. Repair costs are indeed high on a new or top-of-the-range car. Especially if the vehicle is equipped with the latest hi-tech options. If your vehicle has a lot of value, it is even a good idea to add a “new value” option.
- If your car is more than 10 years old, on the other hand, all-risk insurance may be a less appropriate choice. Indeed, the expert evaluates the amount of your compensation based on his argus rating and the compensation is likely to be low. It may be preferable to subscribe to a third-party plan and add personalized options to have coverage adapted to your driver profile and your vehicle.
Keep in mind, however, that the value of your vehicle should not be your only criterion of choice. Whatever this value, you may, for example, have an interest in insuring yourself against bodily injury that you may suffer as a driver. However, this damage is not necessarily covered when you are insured against third parties and you are responsible for the loss.
Comprehensive auto insurance and deductible
Full compensation does not mean any deductible.
The deductible, an amount that remains the responsibility of the insured after compensation from the insurer, generally applies to most guarantees other than the public liability… In the event of an accident, the formula you have chosen (third-party, intermediate or all-risk insurance) and your liability determine what the insurer reimburses and therefore what may remain your responsibility. Knowing that a higher contribution can allow you to reduce the amount of the deductible, so detail the amount of the deductibles for each of the guarantees and choose according to your needs.
Which car insurance to choose for young drivers?
young drivers who often have a small budget are tempted to take out insurance at a low price and therefore to opt for the third-party formula. Be careful, however, in the event of a responsible accident, the savings made on one side can be swallowed up in repair costs. If the car is old, why not… But if it is still listed on the Argus, an intermediate formula (including theft, fire, glass breakage) is more suitable.
How much does comprehensive car insurance cost?
The amount of the car insurance premium depends on many factors:
- model
- make and power of the vehicle
- parking mode (closed garage or not)
- mileage traveled
- driver profile (history of accidents, age of driver’s license, etc.)
Beyond the price of the insurance, it is also necessary to compare the quality of the services. Detail the extent of the guarantees, the geographical areas where you are covered, the reimbursement ceilings, the amount of the deductibles, the exclusions…
