Used car insurance – How to protect your used car

 

A used car can be an excellent alternative to a new car – not only in terms of price, but also in terms of variety. But especially with older vehicles, the risks of damage, repairs or unexpected costs also increase over time. This is where used car insurance comes into play: It protects against financial burdens, whether due to accidents, theft or technical defects. At the same time, it ensures that you remain flexible and protected even in the event of breakdowns and repairs.

If you are interested in a used car, here are a few offers:

 

What is used car insurance?

Used car insurance is a special form of protection for vehicles that have already had a previous owner. While manufacturer's warranties often apply to new cars, a used car needs more individual protection. This insurance is intended to protect against financial burdens caused by damage to the vehicle, breakdowns or repairs.

Used car insurance or used car warranty?

The terms are often confused. However, a used car warranty and used car insurance are not the same thing:

• Used car warranty: Often offered by the dealer, it covers specific technical defects, such as the engine or transmission.
• Used car insurance: Provides more comprehensive protection, including damage caused by accidents, natural forces or vandalism.

Ideally, both options complement each other.

Is used car insurance a repair insurance?

Repair insurance – often referred to as car repair insurance or car repair insurance – is a supplementary insurance policy that only covers repair costs. It can be part of a used car insurance package, but usually has to be taken out separately. Repair insurance is particularly useful for older vehicles to cushion unexpected workshop costs.

Who needs used car insurance?

Used car insurance is useful for:

• Private buyers who depend on the safety and reliability of their used car.
• Drivers of older vehicles who want to be protected from expensive defects by repair insurance.
• Novice drivers who drive a low-cost small car and value low insurance premiums.

By the way: If you have paid in advance, you will receive a refund from the car insurance when you deregister the car.

 

What insurances are available for used cars?

There are different types of insurance available for used car owners:

Fully comprehensive insurance

Fully comprehensive insurance is the most comprehensive protection and is particularly suitable for valuable used cars.

Scope:

• Damage to your own vehicle, even in accidents that you are responsible for.
• Protection against vandalism.
• Protection in the event of a total loss.

Arguments:

• Ideal for expensive vehicles or financed cars.
• Higher costs, but also better protection.

Partial Comprehensive Insurance

Collision damage waiver provides basic protection and is a popular choice for used cars.

Scope:

• Protection in the event of theft, storm, hail, lightning and flooding.
• Covers damage caused by animal bites and glass breakage.

Arguments:

• Cheaper than fully comprehensive insurance.
• Good balance between price and performance.

Motor vehicle liability

Motor vehicle liability insurance is required by law and protects against claims by third parties.

Scope:

• Covers personal injury, property damage and financial loss caused by the driver.
• Compulsory insurance for every vehicle.

Arguments:

• Basic coverage, without which no car can be registered.
• Particularly low premiums if there are no claims.

 

What benefits should used car insurance cover?

A good used car insurance should include the following benefits:

• Theft: Protection against the loss of the vehicle.
• Repair costs: Protection against high workshop bills.
• Natural hazard protection: Protection against damage caused by storm, hail or flooding.
• Puncture protection: Assistance in the event of breakdowns, including towing service.

 

How much does used car insurance cost?

The cost of used car insurance can vary greatly, as it depends on several factors. The most important influencing variables include:

Vehicle type and age:

Newer used cars or vehicles from higher-quality classes are usually more expensive to insure. Older vehicles often have lower premiums because their replacement value is lower.

Driver profile:

Novice drivers and younger drivers often pay higher premiums because they are considered riskier. Sometimes there are also novice driver insurances with different conditions.

Scope:

Fully comprehensive insurance is more expensive than partial comprehensive insurance or liability, but also offers more extensive protection.

Regional class:

Depending on where you live, costs can fluctuate, as cities with a higher accident rate or risk of theft can lead to higher premiums.

No-claims class:

Those who drive accident-free usually receive discounts and pay lower premiums. The more years you have driven without an accident, the higher the no-claims class and the lower the insurance premium.

Average cost

There are many factors that affect the premium, but here are some rough indications:

• Liability insurance: From about 150-300 euros per year for a small car. For larger or more powerful models, the costs are higher.
• Partial casco: Additional protection costs an average of between 100-200 euros per year in addition to liability.
• Comprehensive: With fully comprehensive insurance, about 300-800 euros per year are realistic, depending on the vehicle and driver profile.

 

How can you take out used car insurance?

Taking out used car insurance is straightforward these days and can usually be done both online and directly with an insurance provider. Before you decide on insurance, there are a few important steps you should take to ensure that you get the best possible protection at a fair price.

Is there used car insurance at the dealership?

Yes, when buying a used car, some dealers offer the option of taking out used car insurance directly. Usually, insurance is brokered by the dealer, who works with various insurance companies to offer customers a quick solution. This option has some advantages, but also certain limitations that you should be aware of.

How does used car insurance work for private purchases?

Taking out used car insurance is just as important when buying privately as when buying through a dealer. Here you should think in advance about which insurance you want to take out - because in this case you have to take care of it yourself and look for an insurance that suits you.

Used car insurance is an indispensable protection that protects you from unexpected financial burdens. Whether through liability, partial or fully comprehensive insurance - with the right policy you are well protected. Make sure that the services meet your individual requirements and compare different providers to find the best deal.