Depending on the profile of the driver or the type of vehicle, all-risk car insurance may be more advantageous than third-party insurance.
This is undoubtedly the key question when acquiring a new vehicle. Is it necessary insure it to a third party or with an all-risks formula? The second, more expensive solution can be advantageous in many situations.
A broader guarantee
L’third-party insurance corresponds to “civil liability”. This is the compulsory legal minimum for any owner of a car or motorcycle. In concrete terms, it covers damage caused by the insured to one or more third parties in the event of a claim. It can be a physical person (injury to a third party) or property (damage to another vehicle, a wall hit in an accident, etc.). On the other hand, it does not cover damage suffered by the driver holding the contract, his vehicle or his property on board.
Beyond this minimum, the formula known as all-risk insurance adds numerous guarantees. You will be covered in the following cases:
- Bodily injury to the driver, even if he is responsible for the accident
- Material damage to your vehicle, even if your liability is engaged
- Theft and vandalism, fire, glass breakage, even if the author is not identified
- Weather risks, natural or technological disasters, attacks…
To this may be added in certain contracts, optional breakdown assistance (most often 24 hours a day), the provision of a replacement vehicle or even legal protection, very useful in the event of a dispute with the insurance of another driver.
Another advantage: all-risk insurance accelerates your compensation. Indeed, it is not necessary for the dispute to be settled between the insurance companies of the different parties involved for you to be compensated.
In summary: comprehensive insurance allows you to receive compensation faster and in more diverse situations. Above all, it covers the driver, even if he is responsible for the accident.
In which cases should you prefer all-risk insurance?
Logically, it is the value of the insured vehicle that determines whether this formula is attractive. Usually, all-risk insurance allows you to drive with more peace of mind if your car (for example) is recent – less than 10 years after registration – or has a low mileage. In addition, a vehicle that drives a lot is more likely to suffer a claim: in this case, all-risk insurance covers you in a wider range of situations.
Conversely, an old vehicle (outside a collection with a high resale value) can be covered by third-party insurance, since the compensation is logically less significant in the event of a claim. Determining the value of your vehicle and establishing your budget is therefore the key to making this decision. A car insurance quote is often the best way to decide between the two options.
To read on auto-moto.com:
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