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Car insurance


The 10 biggest mistakes around car insurance and how to avoid them!

Classic and collector's vehicles should not be insured in a conventional car tariff under any circumstances. If this is the case, problems regarding the value of the vehicle are to be expected in the event of damage, especially if the car is on the threshold of becoming a classic.

1. Old value estimation

Our tip is to regularly have a current expert opinion drawn up; the more detailed the expert report, the easier it should be to settle a claim in the event of a claim.
A so-called self-assessment, which some insurance companies accept up to certain value limits, is not recommended. In a claim in which the classic car is damaged by a third party, for example in a rear-end collision, these assessments have no relevance to the opposing liability insurer.

2. Exlusions

Yes, according to provider, the exclusions can vary considerably, generally applies, cheap does not mean equally good.
Driving on race tracks can be just as generally excluded as parking in front of your own garage. How is insurance cover regulated in other European countries, are there restrictions in the comprehensive cover? Our tip is to draw up a list of the points that are close to your heart when it comes to covering your collector's item and talk to an expert. Don't save on the wrong end - after all, you don't buy the cheapest DIY store oil and paint seal from discounters, do you?

3. Old conditions

Conditions and tariffs change, put your insurance cover to the test, at the latest every three to four years, it could be that conditions have improved, i.e. the insurance cover is now more extensive, without necessarily costing more.

4.  My broker

takes care of everything. But keep in mind that even for a broker the insurance of exotics, super sports cars or high-quality classics is not necessarily an everyday business. Even online research does not replace a personal risk assessment. 

5. Gross negligence excluded

In the past, many insurance companies have also started to cover damages caused by gross negligence. This could be driving over a red traffic light or exceeding the maximum permitted speed! Check whether this is also the case in your policy!

6. Transport and tourism

Pay close attention to how your vehicle is covered during transport on the trailer or loading area! Are damages during loading and unloading covered? Transport on a car train is also considered transport!

7. Market value instead of replacement value

Over 75% of all classic cars are insured at market value. What many are not aware of is that only the replacement value (WBW) is based on a short-term replacement (within 14 days region D-A-CH). Therefore it includes the dealer margin (max. 20%) and 19% VAT. Consequently, only insurance to the WBW will reimburse you for the costs you would have to incur for the purchase of your classic car, in the event of a case! Do not waive a quarter of the indemnity.

8. Stationary  insurance

Contrary to all regular table opinions, most damages occur to amateur vehicles, if these stand, i.e. the burst battery, damage by moths or mouse food, the fallen ceiling plate in the Schrauberhalle, or theft from the underground garage. A rest cover which is based on a conventional premium-free partial cover is worthless! 

9. Precaution with increase in value

As a general rule, you should make sure that a free insurance cover applies beyond the value in your policy. 20-30% should be sufficient. However, have your report renewed or reviewed at regulär intervals.

10. My car gets into the car repair shop

A re-commissioning after winter or a restoration is planned?
The deregistered car is taken to the garage without insurance cover, which can be a nasty sight. Not all companies have a suitable insurance cover for your vehicle, so you should clarify in advance who is liable for theft or accident damage and up to what amount!

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