Car Insurance Guide | MICARE PS

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

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


Classic and enthusiast cars should never be insured in a conventional car tariff. If this is the case, problems with regard to the value of the vehicle are to be expected in the event of a claim, especially if the car is on the threshold of becoming a classic.

1. Old appraisal

Our tip is to have an up-to-date expert opinion prepared on a regular basis. The more detailed the expert opinion is, the easier it should be to settle a claim in the event of an incident.
Not recommended is a so-called self-assessment, which many insurance companies accept up to certain value limits.
In a claim where the classic car is damaged by a third party, for example in a rear-end collision, these assessments have no relevance for the opposing liability insurer.

2. Exclusions

Depending on the provider, the exclusions can vary considerably, generally speaking, cheap does not necessarily mean good.
Driving on race tracks can be excluded just as much as parking in front of your own garage. How is the insurance cover regulated in other European countries, are there any restrictions in the hull?
Our tip, make a list of the points that are important to you when insuring your collector's item and talk to an expert. Do not save at the wrong end - after all, you are not buying the cheapest DIY oil and paint sealing from discounters, are 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 comprehensive without necessarily costing more.

4. My broker

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

5. Gross negligence excluded

In the past, many insurance companies have switched over to paying also for damages caused by gross negligence. This could be driving through a red light or exceeding the speed limit! 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? Transportation on a car passenger train is also considered transport!

7. Market value instead of replacement value (WBW)

Over 75% of all classic cars are insured at market value. What many people are not aware of is that only the replacement value (WBW) assumes a short-term replacement (within 14 days region D-A-CH). Therefore it includes the dealer margin (max. 20%) and 19% value added tax.
Consequently, only an insurance policy to the WBW will reimburse you for the costs you would have to pay for the new acquisition of your classic car, in case of an emergency! Do not waive a quarter of the compensation payment.

8. Rest insurance

Contrary to all regulars' opinions, most damage to collector's vehicles occurs when they are stationary, i.e. the burst battery, damage caused by moths or mice, the fallen ceiling panel in the screwdriving hall, or the theft from the underground car park. A rest cover based on a conventional premium-free partial cover is worthless!

9. Precaution in case of increase in value

In general, you should make sure that free coverage is covered beyond the value in your policy. 20-30% should be sufficient. However, you should still have your appraisal renewed or checked at regular intervals.

10. My car comes to the garage

A recommissioning after the winter or a restoration is planned?
Taking the deregistered car to the garage without insurance cover can be a nasty business. Not all companies have suitable insurance cover for your vehicle, so you should definitely clarify beforehand who is liable in the event of theft or accidental damage and up to what amount!

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