All-risk or third-party insurance: which to choose?

All-risk or third-party insurance: which to choose?

We can never remind you enough: car insurance is not only legally compulsory, but also very useful in the event of a claim. Against a monthly or annual contribution, your car but also your passengers and yourself will be covered in the event of an accident.

If you call to take out a new contract, an auto insurer will offer you several rates with different levels of coverage. The two main types of contracts are third-party insurance and all-risk insurance, both with variations depending on the company, such as for example for Leocare car insurance.

What type of formula to choose? How to find it? Is it better to spend more or on the contrary to save money every month? Here are our tips for choosing the best.

Third-party insurance, an economical formula

As motorists’ budgets soar, with new and used car prices soaring, as well as fuel prices, saving money on car insurance can seem tempting.

The most attractive insurance formula in terms of price is compulsory car insurance or third-party insurance. This will cover damage caused to a third party if you have an accident for which you are identified as the responsible driver. This means that if, for example, you run a red light and cause an accident with another car, the repairs to this car will be covered by your insurance. But the repairs of your own car will remain at your expense…

With third-party insurance, it is therefore essential to be a good driver, to avoid having an accident where you find yourself responsible. The loss of control of a car is always possible with poor grip caused by the weather or the road in poor condition…

This third-party insurance formula may be suitable for good drivers, yet the latter will be the ones who can benefit from all-risk insurance at the best price!

Because in France, the amount of your insurance premium depends on the famous bonus-malus system.

If you are hurt, third-party insurance may be the only formula offered by an insurer, who will not necessarily want to take the risk of covering you more.

Third-party insurance may or may not be accompanied by coverage of certain risks such as fire, glass breakage or theft. This will depend on the insurance companies, and the formulas offered.

To limit the risk of financial loss, it will therefore be advisable not to opt for a third-party formula for a car whose value is significant.

All-risk insurance, the most comprehensive coverage

Unlike third-party insurance, the all-risk formula will cover damage to your vehicle even if you are responsible for the accident.

If your car has a high financial value, insuring it well is essential. Because in the event of an accident, the cost of repairs can amount to several thousand euros, or even the total value of the car if it is declared unrepairable.

All-risk insurance therefore provides a reassuring level of security, with a large number of risks covered: accidents, theft, fire, vandalism, glass breakage, natural disasters, but also assistance in the event of a breakdown, or even legal assistance.

The price of all-risk insurance is logically more substantial than third-party insurance: it varies in fact and on average from simple to double for the same driver, vehicle and residential address.

This formula is recommended for cars of a certain value, but also when you can afford it. In the event of a problem, whatever it may be, you will be properly covered and reimbursed.

The price of this formula may drop with limited annual mileage packages, or by increasing the amount of the deductible in the event of a claim. You will also be able to save money by opting for a model that is not overpowering but economical, and by increasing your bonus to the famous 50% bonus. The key: drive carefully, to avoid causing the slightest accident…

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