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Car insurance: three tips for checking small print
Which car insurance policy is best for me? Important details are often hidden in the small print. Comparis explains what to look out for.
21.05.2024
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1. What are the General Conditions of Insurance (GCI)?
The GCI are basic contractual conditions that always apply when taking out a contract with an insurance company. It’s worth noting there are often large differences between contracts written into the small print.
But what should I watch out for? The following tips will help you recognize important details hidden in the small print.
2. Compare compensation in the event of a write-off
What compensation do you receive if your car is written off? You’ll find the answer in the GCI.
It’s always worth comparing beforehand. Making the right choice after comparing means you pay as little as possible out of your own pocket if you have an accident and can help you get a new car easily.
Each insurance company has its own compensation table. This is usually based on the vehicle’s current value. A compensation table defines what percentage of your car’s replacement value you will receive if it’s written off, based on your car’s age. You can find this table in the GCI – it should be easy to spot.
An example of two compensation tables:
| Car’s year of operation | Insurance company A * | Insurance company B * |
|---|---|---|
| 1st year of operation |
100% |
95% |
| 2nd year of operation |
100% |
86% |
| 3rd year of operation |
85% |
78% |
| 4th year of operation |
75% |
70% |
| 5th year of operation |
65% |
62% |
| 6th year of operation |
55% |
55% |
| 7th year of operation |
48% |
48% |
* Average compensation in % of your car’s replacement value in the event of a write-off
Example calculation based on table: if a vehicle with a replacement value of 50,000 francs is written off in the second year of operation, insurance company A pays the full 50,000 francs and insurance company B only pays around 43,000 francs. That’s a difference of 7,000 francs.
Comparing different GCIs can therefore pay off.
3. Compare premiums tier systems
Many car insurance companies use what’s known as a bonus system.
The idea is simple:
If you make a claim, your premiums go up.
If you don’t have any accidents and make no claims, your premiums go down.
The terms and conditions can vary from one insurer to another, so check the GCI for exact details.
To find more information, search in the GCI for the keywords “premiums tier system” and “premiums tier table”.
What is the advantage of no-claims bonus protection?
A no-claims bonus protects you against an increase in premiums if you do have to make a claim.
But even then it’s always worth taking a look at the small print: some insurance companies may only allow one claim per year. Others may allow more.
4. Compare parked car damage coverage
Has your parked car been damaged but you don’t know who or what caused it? This is known as parked car damage.
You can insure yourself against this with supplemental parked car damage insurance.
These policies have a wide range of conditions that you will often only realize by reading the GCI. Search in the GCI for “parking damage” or “damage to a parked vehicle”. The terms and conditions are usually well indicated.
Good to know: depending on the insurer, full casco insurance may cover damage to a parked car without the need for additional supplemental insurance. Always check the GCI thoroughly for these details.
This article was first published on 08.09.2018
