Motor vehicle insurance: When is partial or fully comprehensive insurance worthwhile? - Tips from financial experts

Motor vehicle insurance: When is partial or fully comprehensive insurance worthwhile? - Tips from financial experts

According to a report from www.24auto.de, owning a car is expensive. In addition to the obvious costs such as the purchase price and fuel, there are also maintenance, repairs, vehicle tax and of course insurance. While motor vehicle liability insurance is mandatory, partial and fully comprehensive insurance are optional. The decision as to which additional protection makes sense depends on various factors.

Partial vehicle insurance covers damage caused by external influences, such as fire damage, storm and hail damage, glass breakage, collisions with furred game, damage from flooding and vehicle theft. Fully comprehensive insurance offers additional protection in the event of self-inflicted accidents and vandalism. As a rule of thumb, new cars should be fully insured up to five years old, as they still have a high value during this period. After that, partial comprehensive insurance with a lower premium may make more sense. The costs for comprehensive insurance depend on various factors such as the age of the driver, kilometers traveled, type class and regional class. A higher deductible can reduce costs, but requires consideration of whether you can cover the costs in the event of a claim.

These factors are important for car owners who want to choose the right insurance. Depending on the vehicle value and individual situation, the choice between partially comprehensive and fully comprehensive insurance can have major financial consequences.