Vehicle Insurance for cars, motorbikes, vans and lorries is divided between:
1. Liability (third party) insurance
The third party motor vehicle insurance is the mandatory minimum insurance coverage. It covers damage to property and injury to people caused whilst operating the vehicle.
The third party insurance also covers injuries to passengers in the vehicle however, passengers who are economically supported by the legal owner of the car or its driver (as a rule, the financially dependent members of the family) are excluded from this cover.
2. Comprehensive insurance
Comprehensive insurance provides coverage for damage caused by;
- The driver
Whilst reversing out of the garage you damage the side of the car
You are involved in an accident which was your fault. Your comprehensive insurance will cover the damage to your car, your liability insurance the damage to the other car
- The malicious action of others (Vandalism)
You return to find that your car has been hit by another car. Unfortunately, there are no witnesses and no note from anyone admitting responsibility.
An excess of € 150 to € 1,000 is usual in the comprehensive insurance coverage; the higher the excess, the lower the insurance premium.
The car insurance premium is determined by the vehicle make and model, area of registration and the insured's no-claims bonus.
Motorbike & moped insurance premium is determined by the power and cc of the engine as well as the insured's no-claims bonus.
Caravan insurance premium is determined by the purchase price and insured's no-claims bonus.
No-claims bonuses issued by foreign insurers ( Europe and North America ) have to be originals.