Car insurance advice

Banks, Insurances & Third Pillar
22

New question that falls into the “Car Insurance Advice” Title :slight_smile:

I have bought a used car recently and need to confirm my insurance on it. Its a 2016 so 6 years old. I have the obvious options of Casco complet (including parking), casco partiel and just RC. As I know that after 8 years the insurance I have (Mobiliere) applies the Valeur venale, for the 2 years between now and then, they apply a % against the value for reimbursement after an accident. I’ve asked to confirm what this % and value would be.

In this context, I feel I should go to partiale immediately then down to RC after 8 years, since they will only give me resale value at that point anyway and the difference in insurance primes is 50%.

Lastly, why is there “accident” insurance in the casco complete? It says for driver and passengers (invalidité and death) … I feel that this is over insurance, am I wrong? This last part is where I am least comfortable and any opinions are welcome.

1 Like
23

Hi!

“accident” for passenger was used in the past when insurance was not mandatory in CH or Europe.

Now it is over insurance except if you have a person who is not insured against accident (typically outside EU) in your car.

For % of reimbursement in case in total damage, check general conditions linked to the offer.

1 Like
24

Thanks for the link @Ardius ! Thats what I thought…i just hate how people try to add things into policies without just asking if it could be interesting for me to have. They’d have way more chance to convince me to consider it with transparency - I’m skeptical of almost every clause now and they need to spend more time to explain them to me so totally not in their interest :slight_smile:

1 Like
25

I agree and feel the same about it.

I also don’t believe that we always have a choice to cherry-pick individually each item, in hopes it would decrease the final premium.
I think they are mostly sold as “bundles”.
Or do you have different experiences?

26

As you change car, you can change insurance company.

Check smile direct for example in order to fit your needs.

1 Like
27

It all depends. Most bundles you can break down in one way or another even if at times there can be resistance or even bluffs on their side*. Otherwise, you need to be ready to leave to the competition as @Ardius mentions, even if it’s much more a pain in the ass for you than them.

However, in this case, the “Accident Insurance” was added to my policy when I changed cars, so I knew it wasn’t mandatory not having had it on my last several policies…I had forgotten what it was but now recall reviewing it several years ago when I also took the equivalent off my health insurance since I’m covered at work.

Overall, good negotiation comes down to expertise and confidence (not always in that order). I rarely bluff, but if I do its from a position of strength (not when they know I can’t leave). If you are well prepared for yourself, I expect that at least 50% you are better prepared that the person in front of you negotiating for a company. Regardless, when they know you read the fine print and have educated yourself in details, they are much more hesitant to try to abuse your ignorance as a client lambda (since they know they’ll lose time). So, I try to make it as easy as possible to say “yes” and as hard as possible to justify saying “no”…

**If you have an account manager that only calls and never formalises discussions in writing, you’d be amazed at the effect providing/asking for a PV (minutes) of your call will have on your relationship :blush:

2 Likes
28

Bit of a revival.

What are your rules of thumb for deciding whether to take full kasko / partial kasko / liability-only?

My example:
9 y/o car, worth ~10k, parking on the (safe) street.
Currently on partial kasko, considering liability-only switch for cca 40% savings on the premium.

Btw are there “1 month notice” deadlines for car insurance switches too, like for health one? :slight_smile:

29

After 8 years most insurances don’t give you the value you may think in the event you are responsible for an accident. Best to check case by case, but my rule of thumb is around 6 years down to partial, then >8 years RC only which cuts your insurance roughly in half.

I then try to keep the car as long as financially viable. Meaning when maintenance and new purchases (ie tires) become more than the value of the car, I then stop that too and start to look to replace with a “new” used car before I have any issues. As I drive Toyota I’ve never had major surprises though

To mitigate the risk for timing, I always start a “replacement fund” with every chg of car so I am always only paying cash for the next one.

1 Like
30

Two things to consider if you park on the street

  • Hagelschaden / hail damage is not covered with only liability coverage.
  • “Parked damage” is something you could also consider, if it’s financially worth it

AXA has a nice modular nature of their premium builder if you need a hint (I’m not affiliated).
Also raising the deductible from 0 to 200 CHF in both partial casco as well as the liability portion has a rather positive effect by most companies on your premium going down.