Is fully comprehensive insurance worth it? What you should know

by Pramith

Whether or not fully comprehensive insurance is worthwhile depends first and foremost on the value of your vehicle. As a general rule, the newer and more valuable the car, the more sensible it is to have fully comprehensive cover.

Comprehensive cover is worthwhile for high-value cars

Full insurance, partial insurance or just legal protection insurance? This is a question that some motorists ask themselves. You can use certain criteria to determine which cover makes the most sense for you.

  • Generally, motor vehicle insurance cover is based on the value of the car. A new car should primarily be covered with comprehensive insurance for the first three to five years. The same applies to very valuable cars.
  • If you have a leased car, fully comprehensive cover should also be compulsory. The same applies if you are financing the car on credit.
  • Even if you own an older car, fully comprehensive insurance can be more worthwhile than partial comprehensive insurance under certain circumstances. For one thing, comprehensive insurance has a no-claims bonus. This means that if you have no accidents on the road, the insurance cover becomes cheaper from year to year.
  • In combination with where you live and the type of vehicle you drive, fully comprehensive insurance can get closer in price to partial comprehensive insurance.

Full insurance pays the new price of the car – at least in the first period after initial registration.

With fully comprehensive insurance, you enjoy comprehensive protection for all damage to your vehicle.

  • Damage caused by bad weather such as hail, storm or lightning is covered. Also insured are theft, robbery and embezzlement, fire and explosion as well as damage caused by game.
  • Cable damage due to short circuits or glass breakage due to stone chips are also included in comprehensive cover. A big advantage over partial casco is that full casco also covers damage caused by self-inflicted accidents and vandalism.
  • Important: While partial casco only compensates the current value of the car, comprehensive casco pays the new price of the car in the first period. Optimal is a new value indemnity in comprehensive insurance, where the new price of the car is paid up to 24 months after the initial registration.
  • Conclusion: If you own a new or valuable car, comprehensive cover is advisable. You can save a lot of money, especially if you have a good excess.

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