What do I need to know about used car insurance?

What is the best insurance for a used car? If you’ve just bought a used car, remember that insuring it is a legal obligation for any driver. However, a used car does not necessarily require the same coverage as a new car. When you buy a used car, be prepared to take the necessary steps to insure it. It’s not enough to buy a car first and then look at how you might insure it. Also, used car insurance is not the same as used car insurance.

What you need to know before you buy a used car insurance policy

As with the car itself, you should also find out about the necessary and possible insurance options before you purchase. In principle, it works in the same way as buying a car or looking for a car itself: you search on a used car portal for a vehicle you like. To do this, you check the make, model, year of manufacture, condition and mileage of the used car as well as the price that is charged for it. This information is necessary, as it will enable you to look for appropriate insurance in the following areas. The make, model, year of manufacture, condition and mileage of the future used car are now entered on an appropriate website for insurance comparison. In addition, aspects such as accident car and number of previous owners can also play a role. Each insurer’s online tool as well as the individual comparison portals will show you the results afterwards. These clearly indicate what you should pay for a particular used car insurance and what benefits you can expect in the event of a claim.

Used car: full or partial

For new cars, the general rule is that until the age of five, it is worthwhile to take out comprehensive insurance. Thereafter, partial coverage is often recommended. Remember that partial coverage insurance only replaces the current value of the car in the event of damage. If the ratio between the amount of damage and the value of the car is unbalanced in the sense that the amount of damage is higher than the value of the car, partial coverage is no longer recommended. From this point on, a motor liability insurance is theoretically sufficient. The same applies to a used car. However, to find out to what extent a used car guarantee could be useful in this case, please read below. Once you have made your final choice to receive personalized car insurance offers, you can request concrete offers from selected insurance companies. That way, you will know the exact amount of your monthly car insurance and can budget accordingly.

Used car: hull or warranty

Buyers of a used car often ask themselves the question: should they buy comprehensive insurance, a used car warranty or something completely different. The question is justified and requires some basic explanations. Hull insurance policies must be fundamentally distinguished from used car warranties. Hull insurance governs damage to your own vehicle. While comprehensive insurance covers almost everything, a partial comprehensive insurance, as it is called, only covers partial aspects. For example, a partial coverage according to the insurer covers the following.

Fire or explosion

Storms such as hail, lightning or floods. Collisions with furry game: deer, roe deer, foxes.

Damage to windows

Theft of the car or spare parts. The used car warranty, on the other hand, protects you against unpleasant and/or expensive repairs if these are due to a defect e.g. an electrical component.

What does this mean for the buyer of a used car?

The hull insurance is calculated according to the value of the vehicle. It is only useful in certain circumstances to guarantee and maintain the value of a vehicle. The used car warranty, on the other hand, also makes it possible to establish specific obligations between the buyer and the seller or to include individual parts of the vehicle in the warranty contract. Thus, the used car warranty avoids possible disputes between the parties to the purchase beyond the case of repair.