Choosing the right type of insurance is not easy, so here are some tips to help you make the decision. What should you take into account when insuring your vehicle and selecting the level of coverage?
Your vehicle’s manufacture date is the first factor to consider.For example, if your car is old and its market value is low, our
Basic Third-Party Insurance is the best option. It meets the regulatory requirements at an affordable price, whilst offering important cover such as road assistance.
- Do you know what the market value is? On the other hand, if your vehicle is new and, therefore, has a high market value, it’s not within your interests to sacrifice cover and expose yourself to the risk of losing your car in the event of total loss. In this case, our Comprehensive (All Risk) Insurance is the best option, as it protects against damage to your vehicle, even if you’re responsible for the loss. Plus, you can adapt the price of the policy to your needs thanks to the excess.
- Do you know what the excess is? In insurance, the term excess means the amount that the policyholder is willing to pay to repair the damage caused to his or her vehicle following a loss, if this option is included in the policy. Taking out a car insurance policy with excess shares the risk between both parties, meaning that the premium will be significantly lower than the premium for a policy without excess while ensuring that the cover included and scope of protection remain the same.
Your vehicle use.If you only use your car at the weekend, the likelihood of damage being caused is not the same as if you use it on a daily basis. This frequency should be taken into account when including cover to protect against
windscreen breakage, for example, which is one of the most common car problems encountered by drivers.
Having a garage or not also affects your car’s degree of exposure.For example, if you leave your car parked on the street overnight, consider including cover that protects against situations such as
theft or fire. These guarantees can offer relief in the event of total loss (vehicle written off), as you would be entitled to compensation.”
