How long do I need full casco insurance?

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The car insurance comparisons at show that many older vehicles – some more than 10 years old – still have full casco cover. Yet partial casco insurance would be much cheaper, and perfectly sufficient in most cases. Comparis explains what to watch out for when switching from full to partial casco insurance.

When should I switch from full to partial casco?

Vehicles lose value quickly, particularly during the first few years. In the first year, they lose around a quarter of their list price value; after three years, they sell for only around half of the original price. If you take into account the car's actual value, it's not worth paying the – often high – premiums for full casco cover once the vehicle reaches a certain age. The following rule of thumb applies: if your car is four or more years old, you should check whether it’s worth switching from full to partial casco.

Isn't it worth keeping my full casco insurance for longer?

Of course, the time at which you switch also depends on your personal needs as well as the car's as-new value. If your car is particularly expensive, you can wait another one or two years before switching. If you cause collision damage on a regular basis, you’re better off sticking with full casco for longer. This applies in particular to people who do not have enough savings to pay for collision damage or a new car out of their own pockets if necessary. But there are limits here too. Full casco is definitely no longer worthwhile once the car reaches seven or eight years of age. If a car is written off, many insurers will only pay its current value. Partial casco, on the other hand, is still worth it even if the car is a bit older, because the cost of replacing certain parts such as the windscreen remains the same, no matter how old the car is.

When is the best time to switch?

In winter, the risk of accident is greater because of adverse weather conditions and poor visibility. Ice and snow can cause even the most experienced drivers to lose control. In addition, cold, ice, snow, grit and salt can affect a vehicle so badly that they damage the paint, body or chassis. For this reason, spring is a good time to switch from full to partial casco insurance.

Check the policy's term length

Many insurers take advantage of the switch to restart the policy from the beginning. For example, if you took out a five-year policy three years ago, you would be tied to the new policy for another full five years. Don't just accept this. As well as requesting to switch to partial casco insurance, you should also apply for the right to cancel the amended policy annually. Insurance providers typically accommodate this request.

Isn't switching rather complicated?

No. The easiest way is of course to remain with your current insurer. In this case, all you need to do is inform your insurer that you would like to switch from full casco to partial casco insurance. Insurers generally accept such requests and will provide you with a new quote. If you like the quote, you simply sign the document and return it. In most cases, the switch can take effect from the date of your signature.

However, it can be worth comparing quotes from different insurers. You may get a better deal from another company. You might even save a few hundred francs.

Is it worth switching insurer?

You don't have to restrict yourself to the quote from your current insurance provider. You can easily request quotes from several insurers free of charge and compare them with each other. Switching to a different insurer can often save you the most money.

Although it is not always possible to cancel your current policy immediately, you can always cancel with effect from the end of the policy. As a rule, your insurer must receive your cancellation letter by three months before the end of the policy at the latest. The date that counts here is not the postmark but the date of receipt by the insurance company. We therefore advise you to send your letter on time by registered post.

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