If you see around the net, you will see that there are all kinds of opinions regarding this topic. The question is clear: Do I want one insurance if my car is not new? According to Association of Users of Banks and Insurance if your vehicle is older than four years, is not likely to exit profitably. As you know, all risk insurance for first assume a higher cost, but also if you have a car with more than 4 years old and have a major accident, your insurance company will only indemnify the maximum market value of the vehicle, ie the value at that time is your car in the market considering the wear and age, not the value back But why does this happen? There are many who believe that having hired an insurance, the insurer, in all cases, will bear the cost of any damage or accident to have, but it is not. Generally in most companies, the insurance is a guarantee of value back two years.
This implies that the insurer, in case of total loss and consequent loss of the vehicle, you indemnify the value it had when you bought the car. However, this does not apply to cars older than three years. And is that as time goes on, your car loses value and you have a lot of insurance contract, your insurer may refuse to pay you compensation, when it involves a higher cost of the current value of your vehicle. So, your insurance company will indemnify the maximum value that your vehicle is currently on the market and not the cost of repair. Remember that a full insurance, no means insurance covering anything, but is simply a way that insurers have referred to their policies, but does not cover you in any situation.
Your insurance company will compensate with the vehicle’s value and often do not cover the value of the repair. If you’re not convinced any of these options, you can opt for a full insurance with excess. It’s the kind of insurance intermediary, that lets you have all the coverage of an insurance but cheaper. What cost of what? You provide as secure a certain amount which will cover most of the possible claims you have with the vehicle. Whichever type of policy you choose is appropriate to compare insurance rates before hiring your policy. Only if you compare prices to get the right car insurance you are looking for.